Validity of Negotiable Instruments Against a Consumer In Terms Of article 4/5 of Consumer Protection Law No.6502

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Definition of “consumer” and “consumer transaction” has been amended by Consumer Protection Law No. 6502. As per article 4/5 of said Law, it is mandatory that the negotiable instrument can be issued on name of the consumer and separated for each instalments amounts, otherwise the negotiable instrument will be invalid in terms of consumer. Third parties cannot claim the invalidity. Doctrine has interpreted this clause with different views. However the spirit of Law must be considered during the interpretation. The views must be in line with fundamental principles of Commercial Law. In this respect, we are in opinion that consumer’s right to claim of invalidity can be accepted as “special exception arising from the law to the general principle of claiming personal objections”

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Consumer , consumer transaction , negotiable instrument , bill of exchange , validity of instrument

Hukuk Araştırmaları Dergisi

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Hukuk Araştırmaları Dergisi