Pledge on commercial enterprise

The rule in the movable pledge is that the movable shall be delivered to the creditor. However, it is inevitable to seek to pledge on the movable on behalf of the creditor without delivering as the need arises to meet the financal requirements of business life by credit. In consequence of this, the Law on Commercial Enterprise Pledges No. 1447 and dated 1971 was allowed the pledge to be established by registering on the Commercial Enterprise without delivering the assets of the Commercial Enterprise to the creditor. However, the aforementioned law, for various reasons, has been insufficent and failed to meet expectations. Accordingly, the Law No. 1447 was repealed, and the Law on Pledges over Movable Assets in Commercial Transactions No.6750 has been enacted. According to Law on Pledges over Movable Assets in Commercial Transactions No.6750 the Commercial Enterprise is one of the elements that can be pledged. The first section of our study was devoted to the definitions of Commercial Enterprise and the principles of commercial pledge have been reviewed considering the Law on Pledges over Movable Assets in Commercial Transactions No.6750. In the second section, the person&enterprise who might be a party of Movable Pledge Agreement, the scope of commercial pledge and the establishment and provisions of the Movable Pledge Agreement have been examined. In the third section, which is the last section, informations about the termination of the pledge and the methods of collecting receivables of the creditors were given and the assesments have been made regarding the necessity of imposing a lien on movable property in terms of Commercial pledge.