The termination of bank credit agreement and its legal results

As days pass, bank credits are becoming an inseparable part of social order. Especially termination of bank credit agreements which are not regulated by the legislator have a great importance, because the termination of the agreements and the guarantees can break the beneficial balance between the parties. The main aim of this study is to state the circumstances (fulfillment of the debt that results from the credit agreement, expiry of the credit agreement, avoidance, rescission and novation) that lead to terminate bank credit agreements and to investigate the legal circumstances that result from the termination. Key Words 1. Bank Credit Agreement 2. Guarantee 3. Avoidance of Contract 4. Rescission 5. Novation