Commercial enterprise pledge

The Code on the Pledge of Movables in Commercial Transaction (No: 6750), entry into force of the law on 01.01.2017. Pledge, provides restricted real right on the movable and real property goods. Code on the Pledge of Movables in Commercial Transaction has extended the issue, the scope and the parties of the pledge agreement. Merchant and craftman willable to be an obligor and a creditors. Also farmers, producer organizations and freelancers will be able to be an obligor. The trees, the animals, the stock and basic materials, the right of tenancy, the rental income, are incorporated into the scope of pledge. The prohibition of lex commissoria is arranged as a exceptional case in the default provision. A new register which is called as the pledge of movable register is constituted along with a new code. Code on the Pledge of Movables in Commercial Transaction is examined comparatively to Commercial Enterprise Pledge (No: 1447) in this thesis. The thesis is composed of three chapters. It focuses on the concept of pledge, the concept of chattel mortgage and the fundamental principles of chattel mortgage in first chapters. Second chapters includE main topic of the thesis. Foundation of mortgage agreement, the party of the agreement and rights and obligations of parties have been exmined comparatively to Commercial Enterprise Pledge (No: 1447). Last part of the thesis includes which provision will be applied when a position of default occurs. Keywords: Pledge, commercial enterprise pledge, commercial enterprise pledge