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Law of Obligations

Law of Obligations. LAW OF OBLIGATIONS (BORÇLAR HUKUKU). An obligation (borç) = legally enforceable duty to give something, to do something or to refrain from doing something Sources of obligations: Legal transactions, especially contracts (hukukî işlemler; özellikle sözleşmeler)

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Law of Obligations

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  1. Law of Obligations www.assignmentpoint.com

  2. LAW OF OBLIGATIONS (BORÇLAR HUKUKU) • An obligation (borç) = legally enforceable duty to give something, to do something or to refrain from doing something • Sources of obligations: • Legal transactions, especially contracts (hukukî işlemler; özellikle sözleşmeler) • Tortious liability (haksız fiilden doğan sorumluluk) • Unjust enrichment (sebepsiz zenginleşme) www.assignmentpoint.com

  3. Contract law • A contract = Exchange of assents between the contracting parties that creates a legally enforceable obligation • C. Obl. Art. 1: “ A contract requires a mutual agreement of the parties. This agreement may be either express or implied.” www.assignmentpoint.com

  4. Valid contract • Valid agreement (offer + acceptance = agreement) • Legal competence of the contracting parties • Genuineness of assents • Legal cause • Legal subject matter • Form required by the law  www.assignmentpoint.com

  5. Offer and Acceptance • Offer (icap): declaration of willingness to enter into a contractual relationship; unilateral legal transaction binding the offeror • Conditions for an offer to be binding: • Serious intention • not a joke etc., not just an opinion or a statement of intentions • catalogues, price lists, circulars etc. are not considered offers, they are only invitation to make an offer (icaba davet) • display of goods with price quotations is an offer • the offeror may decline his liability www.assignmentpoint.com

  6. Definite and certain • acceptance will result in a contract • all essential elements of the future contract need to be present • Communicated • to the offeree • to the general public www.assignmentpoint.com

  7. Duration and termination of the offer • How long will the offeror remain bound? • An offer is effective once it has been received by the offeree www.assignmentpoint.com

  8. Revocation • Must arrive before or at the same time with the offer, or latest even when arriving subsequently learned by the offeree before s/he learns about the offer • The offeror may reserve a right to revoke or change the offer at any time www.assignmentpoint.com

  9. Lapse of time • Period of time specified in the offer • If no time period specified • offers to persons present need to be answered immediately • offers to persons absent need to be answered in a reasonable period of time www.assignmentpoint.com

  10. “Reasonable period of time”: time for the offer to reach the offeree, time to consider the offer, time for the answer to reach the offeror • The offeror may presume that the offer arrived in due course and time • A late acceptance is a new offer • If the acceptance was sent in due course and time, but arrived unreasonably late, the offeror needs to notify the offeree about lateness, otherwise the offeror is bound www.assignmentpoint.com

  11. Dead or loss of legal capacity does not revoke the offer, unless connected with personality • Destruction of the subject matter creates objective impossibility which makes the offer null and void • A distinct refusal terminates the offer • An acceptance after refusal is a new offer • A counter-offer is a rejection of the original terms and terminates the offer www.assignmentpoint.com

  12. Acceptance (kabul) • Unilateral legal transaction that binds the offeree • Only the offeree is entitled to give the acceptance • Offers to general public: those that meet the conditions • May be express or implied • Must be unequivocal (matches the offer perfectly); otherwise considered a counter-offer www.assignmentpoint.com

  13. Timeliness: has to be made before the offer terminates • Has to be communicated to the offeror • “Silence is no acceptance” but it can be concluded from the nature of the transaction or from circumstances that no express acceptance is not expected; then bound unless refused in a reasonable period of time • In commercial transactions, letters of confirmation (teyit mektubu) are considered accepted if not rejected in eight days • Rules about revocation same as for offer www.assignmentpoint.com

  14. What is a letter of confirmation (teyit mektubu)? • Şifahen,telefon veya telgrafla yapılan mukavelelerin veya beyanların muhte- vasını teyit eden bir yazıyı alan kimse, aldığı tarihten itibaren sekiz gün için de bir itirazda bulunmamışsa teyit mektubunun yapılan mukaveleye ve beyanlara uygun olduğunu kabul etmiş sayılır. www.assignmentpoint.com

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