The theoretical foundations of the annulability sanction in the Turkish law of obligations

The topic of this study is to examine the theoretical foundations and conceptual limits of the annulability in the Turkish Code of Obligation. The sanction of annulability can come into question in case of a defect will or excessive use during setting up the contract. In the TCO, it is regulated that the contract formed as a result of a defect will or excessive use is not binding. The concept of not being bound used in the Law is interpreted as annulability within the theory of invalidity. Therefore, it is not possible to come across either a clear annulability sanction or a conceptual definition in the TCO. Annulability means that a disability in the establishment of the contract does not automatically eliminate the effects of the legal act; however, it gives only one party the right to invalidate the legal transaction with a formative statement; it is the quality of the legal transaction within the invalidity theory, which is not absolute null and remains valid unless it is invalidated. In order for the sanction of annulability to be in question, there must be a legal transaction that is legally valid and for which annulment is foreseen, there must be one of the reasons for annulment in this legal transaction, and finally, the annulment period must not have expired. The reasons of annulability are mistake, cheat, intimidation, and excessive use. In the TCO, the periods to be complied with in order to claim the annulment of willpower and excessive use are regulated separately. Making an annulment declaration within these periods, which has the character of the period of foreclosure, is sufficient to invalidate the legal transaction. In terms of the sanction of annulability, the cancelable transaction and the canceled transaction should be distinguished from each other. A cancelable transaction is a valid legal transaction until the annulment occurs. With the declaration of annulment, which is unilateral, necessary to arrive, and has the quality of a formative right, the legal action ends in a retrospective manner. If a loss has occurred due to the annulment of the transaction, this damage must be compensated. The legal basis of the compensation claim and the compensation obligator differ in terms of each annulment reason.