Exception in negotiable instruments

Instruments, having function of exchanging; in other words, instruments working as currency and payment tools must be reliable. Therefore, after coined and released to market, instruments should not be disapproved as possible. This confident may be possible with approval of not asserting exceptions able to be asserted to right-owners preceding the person who turned the promissory note over to that person who tookover the promissory note of exceptions. Thus, the most important issues about exceptions in negotiable instruments are regulating exceptions without exposing promissory-note debtor to risks cannot be tolerated, and not restricting the exchanging ability of promissory-notes. Negotiable instruments are bill-of-exchanges, promissory-notes, and checks. The most used exchange instruments in our country are promissory-notes. As a result, although premissory-notes should be regulated well, those are controlled by only four items in law and they are referred to articles organizing bill-of-exchanges. Exception is a claim that enables defendant (debut) to avoid paying for a debt of him on a narrow and technical scale. Objection is, assertion of incidents ending arised claim or restraining dawn of claim which claiment asserted. Despite the fact that difference between exception and objection, in third book of Turkish Commercial Law about valuable instruments, these concepts are settled ?exceptions? on upper header. Therefore, ?exception? concept used in Turkish Commercial Law includes not only exceptions on a narrow and technical scale, but also objections. Turkish Commercial Law narrowly regulated exceptions in a few similar items. Difference between exceptions is given to doctrine and legal caselaw in negotiable instruments. Turkish Commercial Law made a triple classification as exceptions understood from promissory-notes, exceptions connected with invalidity of promissory-notes, and personal exceptions about exceptions. Exceptions understood from promissory-notes are understood by contents and exterior of notes, so stay out of ones related to invalidity of notes. Hence, those can be asserted to everyone. Exceptions connected with invalidity of notes are exceptions related to conditions of form of promissory-notes and will of making notes. These exceptions are divided into two parts: Exact invalidity exceptions and part invalidity exceptions. Each of exact invalidity exceptions includes a objection; thus, these exceptions can be asserted to everyone and are regarded by judges. Besides, part invalidity exceptions are seperated into two parts: Part invalidity exceptions able to be attributed and not able to be attributed. Personal exceptions; on the other hand are exceptions emerged by legal relations not be able to make an effect to commitment between a note creditor and a debut. Assertions of personal exceptions is possible, provided bearer act for harm of debut while he is taking the note over. Key Words 1. Negotiable Instrument 2. Exception 3. Objection 4. Bill-of-exchanges 5. Promissory-notes