Abstract:

The new Turkish Trade Act (TTK) has abandoned the concept of limited driving license with the subject of trade companies. This change should not be interpreted in the form that trade companies have unlimited driving licenses like real persons. The new law has renounced the understanding of the previous Turkish Trade Act (ETC) which has accepted non-subjective transactions and has essentially adopted the principle of keeping such transactions standing. In this regard, the license of the trade companies has been extended, and the actual license is limited to the subject of the company’s business. The lawmaker has regulated the validity of non-subject transactions, in accordance with the purpose of protecting the trust of third parties, limited to anonymous (and limited) companies in accordance with the provisions of TTK m. 371/2 . However, the applicability of that provision is extremely limited; the effect of the trade register is due to the conflict with the basic principles such as the consequences of the trader’s status (being acting like a modest businessman, the obligation to use the trade title).

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