As a personal guarantee specific to exchange law aval

Our study, which is examined under the title "Kambiyo Hukukuna Özgü Bir Kişisel Teminat Olarak Aval" consist of four parts. In the first part, the concept of aval, which constitutes the central element of the subject, and its legal nature are examined. Again in the section, similar and different aspects of 'aval' with other institutions which one gives assurance are compared. In addition, the differences between the responsibilities of the guarantor and the avalist (who gave the assurance) have been examined within the framework of the Turkish Commercial Code and the Turkish Code of Obligations. The second part discusses the form conditions that affect the validity of the 'aval' and in which cases it will expire or continue its validity. In the third part, changes in the promissory note in case of when the aval statement is added on the bill, the provisions of the declaration of aval and its consequences on the promissory note, Def'i that the parties can claim, and the responsibilities of the avalist are discussed. In the fourth part, the situations that constitute the reasons for the termination of the aval; the termination of the promissory note, and the expiry of the right of application are examined.