The representation i̇n bills of exchange

Bills of exchange are used extensively as safe payment instruments that adapt to the speed of commercial life in daily life receivables. Although bills of exchange are used by individuals themselves, a number of obligations and benefits brought by daily life and modern conditions lead to mediation of a representative. Although it is used extensively in bills of exchange, The Turkish Commercial Code (TCC) has made arrangements solely for unauthorized representation in the policy provisions, instead of detailed arrangements on representation generally. This situation results in the application of the general provisions of the Turkish Code of Obligations and other laws relating to the representation in bills of exchange, while Article 678 of the TCC, which is a special arrangement, applies for unauthorized representation. Due to the fact that exchange law is the private law institution where the provisions are applied in the most severe form and other independent features of it, the provisions of the general representation have to be applied to bills of exchange not directly but to the extent that they comply with their qualifications. However, because of the issuance of exchange bills and the unique characteristics of policy acceptance and turnover and aval transactions, which are other foreign exchange institutions, the implementation of the rules on representation differs in each. Taking into consideration the characteristics of the representation, detailed explanation of exchange law institutions by making a distinction between; legal representation and voluntary representation in terms of natural persons, organ representation and representation through the appointed representative in terms of legal persons and representation in non-legal-person entities will ensure that the issue is examined healthily and easy to understand. Our study aims to guide the practice by presenting the opinions in the doctrine and the applications of Yargıtay about the interpretation of general provisions in terms of exchange law rules and how to apply them to exchange institutions. Keywords: Bills of Exchange, Legal Representation, Voluntary Representation, Organic Representation, Issuance of Exchange Bills, Acceptance, Turnover, Aval, Unauthorized Representation