Contracts Law

What is a Contract?

A contract is an agreement between two or more persons or legal entities, creating obligations and rights that are enforceable by law. In the field of law, a contract is an agreement that is formed by the will of the parties and creates legal consequences. The basic elements of the contract are the will of the parties, the subject of the contract, mutual obligations, and legal consequences. The will of the parties is important for the existence of the contract. Contracts formed with the will of the parties have legal consequences and these results are legally binding to the parties.

Contracts are used in many areas such as employment agreements, sales agreements, lease agreements, loan agreements, and license agreements. Contracts are documents that determine the rights and obligations between the parties and that legal remedies can be resorted to if the contract is not complied with.

Contract law is concerning the legal binding of contracts, contract rules, rights and obligations of the parties, the validity of the contract, termination, and termination. Especially since there is freedom of contract in Turkish Law, all kinds of arrangements can be made with contracts unless there is a situation contrary to the compulsory legal rules and public decency. For this reason, it is important to be careful about the preparation, execution, and implementation of contracts and to get support from lawyers who are experts in the field of contract law.

Contract Types

Preparing a contract is the writing of the agreement between the parties regulating certain legal rights and obligations. There are some important points to be considered while preparing the contract.

First of all, important elements such as the subject of the contract, rights, and obligations of the parties, duration of the contract, price, payment method, waiver, termination clauses, and force majeure clauses should be specified. In addition, it is important to clearly state that the contract is formed with the will of the parties and that both parties freely and clearly express this will.

The fact that the language of the contract is coherent, exact, and clear can prevent the parties from having disagreements. The content of the contract, the correct use of legal terms, sentence structures, spelling errors, and punctuation marks are also important.

During the preparation of the contract, it is also necessary to respect the rights of the parties, and the contract to be fair and balancing. A contract that protects the rights of each party can make it easier to protect the rights of the parties in case of any dispute.

Finally, during the preparation of the contract, it is also important to check its compliance with the legislation and to fulfill the legal requirements regarding the legal binding of the contract.

For these reasons, while preparing the contract, it is necessary to consider the subject in detail, to ensure that the language is clear and coherent, to protect the rights of the parties, to check legal compliance, and to fulfill the legal requirements.

What is the Law of Contracts?

The law of contracts is a branch of law that deals with the legal arrangements of agreements made in order to determine the legal relations between individuals. The law of contracts regulates the commitments, rights and obligations of the parties to each other and their performance, validity and termination of contracts.

Contracts are legal documents that are formed and come into force with the mutual consent of the parties whether it is made orally or in writing as long as the basic components are satisfied, matters specified in the contracts have legal validity. Contract law also covers the protection of the rights of the parties and the resolution of disputes.

The law of contracts is a branch of private law and is related to the Law of Obligations. The law of contracts also covers commercial and civil contracts and regulates the provisions related to the making, modification, termination of these contracts, interpretation, and application of the contract provisions. It is also related to other branches of law such as contract law, intellectual property law, consumer rights law, and international contracts.

The Importance of the Law of Contracts

Contract law is a branch of law that regulates the legal dimension of agreements between people. Contracts are used in a wide range from commercial transactions to personal relationships and are therefore one of the basic building blocks of social and economic life. Contract law provides a framework for the prevention and resolution of disputes and sets out the rights and obligations of the parties. The presence of lawyers of the parties during the preparation of the contracts ensures that these persons are legally equal to each other in the contract. A lawyer who is an expert in contract law ensures that the trade is not interrupted and the performances are equal by keeping the balance between the actions commercially.

The importance of the law of contracts is as follows:

• Provides transaction security: Contract law creates trust between parties in the execution of transactions. Transaction security is ensured by the parties knowing in advance which conditions are valid in their transactions and what kind of consequences they will have.

• Helps to prevent disputes: The law of contracts anticipates possible problems that the parties may encounter and includes provisions that will help in resolving these problems. Thus, the parties can solve the problems by using the mechanisms stipulated by the terms of the contract, instead of going to the courts to resolve the disputes.

• Makes contracts legally binding: The law of contracts ensures that agreements between parties are legally binding. In this way, it increases the responsibilities of the parties in fulfilling the obligations specified in the contracts. In this way, when disagreements arise between the parties, the contracts prepared with a legal basis can be used as evidence in the judicial process.

• In addition, the law of contracts is also very important in business life. Businesses continue their activities through contracts with their suppliers, customers, and other business partners. These contracts allow businesses to trade securely. Contracts that specify the rights and obligations of the parties ensure that both parties act fairly and act according to the contract.

The Law of Contracts in the Turkish Legal System

In the Turkish legal system, the law of contracts is one of the main subjects of private law. The Turkish Code of Obligations is the basic law regulating the law of contracts. The Turkish Code of Obligations regulates the rights and obligations between the parties, starting from the establishment of legal relations, and in this context, deals with issues such as the conclusion, implementation, modification, and termination of contracts.

The provisions of the Turkish Code of Obligations constitute an important resource in the field of contract law and provide guidance on many issues such as concluding, implementing, and terminating contracts. In addition, there are other laws and regulations related to the law of contracts. For example, the Regulation on Transport Documents in Commercial Transactions, which entered into force in 2011, includes provisions on transport contracts.

As a result, the law of contracts has an important place in the Turkish legal system and is one of the main subjects of private law. Turkish Code of Obligations is one of the most basic resources in the field of contract law and regulates the rights and obligations of the parties. Other laws and regulations may also contain special provisions on matters related to the law of contracts.

In particular, we provide services to our clients with our team in the preparation of the following and all kinds of other contracts. Examples of certain types of contracts include:

• Rental and sub-lease agreements for properties,

• Contracting contracts and other necessary contracts for construction companies,

• Franchising agreements,

• Goods supply contracts,

• Subcontracting contracts,

• Loan agreements,

• Purchase-sale, work, work, surety, agency, distributorship, subscription, and other types of contracts,

• Consulting contracts,

• Warranty contracts,

• Real estate sales promise contracts,

• Commission contract,

• Shareholder agreements,

• Service contracts,

• Insurance contracts,

• Mortgage, loan, inheritance division, and other financial contracts,

• Insurance, arbitration, power of attorney, authority, and other types of agreements,

• Copyright, license, and other intellectual property agreements,

• International distribution, exception, sponsorship, package tour, and other types of contracts,

• Hospital acceptance contracts in the health sector,

• Company establishment, foundation, association establishment, strategic partnership, article of association share transfer agreements,

. Sale and Service agreement

• Commercial confidentiality and trade secret protection agreements,

• E-commerce sales and distance sales contracts,

• Trademark and patent term usage agreements,

• Uncontested divorce, premarital property regime determination, and prenup contracts.

• Partnership Agreements: Agreements between two or more people to partner in a particular business or project.

. NDA: Non-Disclosure Agreement

• Insurance Contracts: Contracts made between an insurance company and the insurance buyer. Insurance contracts are called insurance policies.

• Contracts of Commitment: Contracts for a person to commit to a particular service or job.

It should be known that the contracts are not only those listed but can be shaped according to their fields. The freedom of contract is dominant in the Turkish legal system and it is possible to draw up a contract in any situation and condition unless there is a situation contrary to the mandatory rules and general morality.

With our expert team, we also offer the following consultancy services for the above-mentioned contracts and all kinds of contracts:

• Preparation, negotiation, and representation of contracts,

• Consulting on the interpretation and implementation of contracts,

• Examining the legality of contracts and revising existing contracts,

• Mediation, arbitration, and litigation in cases of contractual disputes,

• Protecting the rights of clients in case of non-fulfillment or faulty performance of contracts.