STATUTE OF LIMITATIONS, PRECLUSIVE PERIOD, AND THE DIFFERENCES BETWEEN THEM
STATUTE OF LIMITATIONS: A mechanism that allows a debtor to avoid paying a debt due to the failure to exercise their right to claim within the legally defined time limits. There are two types of statute of limitations. These are... Read More
Circumstances that Terminate Debt
1. Performance of the Obligation: This is the fulfillment of the obligation undertaken. When the debtor performs the obligation, the creditor is satisfied and the debt relationship between them is terminated. The desired performance... Read More
Statute of Limitations on Debts
It is worth drawing attention to some provisions of the Turkish Code of Obligations regarding the statute of limitations. Article 146 of the Turkish Code of Obligations states that 'unless there is a provision to the contrary in the law, every claim...'. Read More