What is Commercial and Company Law?

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Commercial and company law is the commercial aspect of law. While legislation such as criminal law, compensation law, family law are parts of the law, commercial and corporate law is a legal section with commercial provisions..

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Commercial and corporate law is often confused with the law of obligations. However, contrary to what is known, these two laws are separated from each other. The main pillar of the law we are talking about, namely the Turkish Commercial Code numbered  6102, whose foundation was enacted in 2011. If we make a definition in commercial and company law, it is a legal department that oversees the exchange, operation, documents and compliance of companies with each other.

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Commercial laws in our country are contained in the Turkish Commercial Code and are legally processed. If we make an example of the provisions and practices in commercial and company law:

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• Protecting trade names.

• Receivable tracking.

• Sale or purchase of company shares.

• Procedures related to company meetings.

• Bankruptcy of the company, shares as a result of bankruptcy.

• It covers company contracts and registration of contracts and similar situations.

 

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Difference between Commercial Law and Law of Obligations

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If we separate the commercial and corporate law and the law of obligations, the legal part that concerns all citizens and partially tradesmen is the law of obligations. Commercial law, which is the other legal term, covers commercial enterprises.

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There is a right to choose in the law of obligations. For example, he can borrow money as he wishes, or he has the right to lend. In other words, conditions such as notary public are not required, but this can also be verbal. In the law of obligations, this process is called “Freedom of Form”.

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However, in commercial and corporate law, unlike the law of obligations, borrowing can only be carried out within the framework determined by the law. So there is no right to choose. In commercial and company law, this process is called "Conditions of Form".

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This is one of the principles in Commercial Law. For example, any title deed must be done at the title deed office or, if relevant, at the notary public's office. Borrowing transactions to be made in any other way are considered legally invalid.

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Coverage of the Turkish Commercial Code

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Commercial and company law is divided into six separate articles. These are:

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• Commercial business law.

• Insurance law.

• Transport law.

• Valuable documents law.

• Maritime law.

• It is defined as company law.

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Company law is a piece of law that falls under the scope of commercial law. Company law entered into the laws of the Republic of Turkey with the Turkish Commercial Code in 1926 in our country. Company law has evolved into its final form in 2011 with the entry into force of the new law numbered 6102, which is called the Turkish Commercial Code.

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Legislation and provisions related to company law are also covered in the section between article 124 of the Turkish Commercial Code numbered 6102 and article  644.