Cheque agreement

Cheque agreement is handled and regulated together with the notion of cover under Article 783 of the Turkish Commercial Code. The article stipulates that a cheque can be drawn if the drawer possesses a cover that s/he can dispose of vis-à-vis the drawee and if there is an explicit or implicit agreement (cheque agreement) between the drawer and the drawee which allows for disposing of the cover via drawing cheques.Existence of a bank account and deposit of a person does not grant him/her the right to draw a cheque. In case there is not a cheque agreement contracted among the parties, the drawee that does not make the payment is not responsible against the drawer even if the cheque has a return.Through the cheque agreement, the bank is responsible against the drawer to draw the cheque if it has a return and if the amount to be paid is within the limits that can be afforded. On the other hand, the drawer is under the burden of keeping the return of the cheque vis-à-vis the interlocutor. This agreement functions for the purpose of the payment of the cheque by burdening both parties (sinallagmatic) with debt. Legal characteristic of the cheque agreement is a debatable issue in the doctrine. Majority of the arguments claim that cheque agreement is a sui generis contract that has its own unique characteristics but the provisions of the Law of Obligations Article 502/2 regarding the power of attorney can be implemented as they fall in the scope of the cheque agreement.Through the cheque agreement, the contractual agreement is established between the drawer and the interlocutor bank. It is not possible that the beneficiary or bearer can be party to this contractual relationship. Additionally, the cheque agreement does not establish an exchange relationship between the drawer and the interlocutor bank. Cheque agreement is important for solving the problems regarding the circulation of the cheque and payment or non-payment of it. In these kind of situations, the cheque agreement is effective for the bearer that is not party to the agreement as well.