Journal Name:
- Annales de la Faculté de Droit d’Istanbul
Author Name | University of Author | Faculty of Author |
---|---|---|
Abstract (2. Language):
The Turkish Code of Obligations essentially provides for two
different types of suretyships. One of them is ordinary suretyship
and the other one is joint and several suretyship.
Joint and several suretyship is commonly preferred in practice
since this type of suretyship, as analyzed below, provides creditors
with more security. For example, banks typically impose joint and
several suretyship on their customers
Legislation, however, prohibits joint and several suretyship
contract by Articles 10 and 10/B of the Law on the Protection of
Consumers and by Article 24 of the Law on Bank Cards and Credit
Cards. Consequently, due to this prohibition, it can be concluded
that ordinary suretyship has been reinstated.
This article first analyzes the essential features of the two types
of suretyship contracts, and then, it discusses amendments that
are legally related to the two types of suretyships.
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FULL TEXT (PDF):
- 55
231-236