1. What are the books in the Turkish commercial
What are the capital amounts in joint stock
code?
BOOK 1: COMMERCIAL ENTERPRISE
BOOK 2: COMMERCIAL ASSOCIATIONS
BOOK 3: VALUABLE INSTRUMENTS
BOOK 4: TRANSPORTATION BUSINESS
BOOK 5: MARITIME COMMERCE
BOOK 6: INSURANCE LAW
2. What are the rights of the agent?
1. Asking for fee.
2. Asking for extraordinary expenses.
3. Asking for interest on extraordinary expenses.
4. Right of retention.
3. How many forms may merger be?
1. Taking over the other company.
2. Forming a new company.
4. What is a corporate group?
If a company owns the majority of voting rights or has
the power to appoint the majority of executive board
members of another company or establishes the
majority of the voting rights by agreement with other
shareholders beside its own, or controls the other one
through an agreement or another way, the former one
is called parent company and the latter one is called
affiliate.
5. What are the characteristics of the General
partnership ?
a. Partners are real persons.
b. Their liability may not be limited against creditors.
c. Articles of association include the identifications of
the partners, company title, center, subject, capital
amount, representatives and their powers.
d. The partners are liable to the creditors severally
with their own property.
6. What are the ways of termination of the general
partnership?
1. Bankruptcy
2. Loss of whole or 2/3 capital and not decided to
complete or to keep it.
3.Merger with another company.
4. Termination by the judge decision.
7. What are the characteristics of the joint stock
company?
a. Its capital is definite and divided into shares
b. Liable for the debts limited to its assets
c. Shareholders are responsible only for the amount
that they commit to insert as capital to the company.
8.
companies?
a. The minimum capital is 50.000 TL for the main
capital system joint stock companies,
b. The minimum capital is 100.000 TL. for the
registered capital system joint stock companies whose
executive board is empowered to raise the capital.
9. How should the capital be inserted in joint stock
companies?
1/4th of the cash capital is paid in advance and 3/4th
is paid in 24 months after the registration.
10. What are the tasks of the general board?
1. Modifications of the article of association,
2. Election of the executive board members,
3. Election and dismissal of the auditors,
4. Decisions on financial tables, annual reports,
savings on annual profit, profit shares,
inclusion of savings into capital or profit .
5. Dissolution of the company.
6. Total sale of significant assets.
11. What sorts of decisions require the unanimity
of the shareholders in the joint stock companies?
1. Decisions levying obligation and secondary
obligation for the coverage of the balance sheet.
2. Transfer of the company out of the country.
12. What decisions require 75% of the capital in
the joint stock companies?
1. The changes in activity field.
2. The formation of outstanding share
3. The limitation of the registered shares.
13. Who may go to court for revocation of the
decisions in the joint stock companies?
1. Ready and opposing in the meeting registering it.
2. Ready or not but claiming that the procedure was
not implemented duly
3. Executive board,
4. Executive board members.
14. What is right of first refusal?
Right of first refusal: Every shareholder is entitled to
take the new shares in the portion of his share in
capital.
15. What are the general conditions for the
termination of the joint stock companies?
A. Ending of term.
B. Impossibility of operation in that field.
C. By the decision of the general assembly.
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D. By the decision of bankruptcy.
E. Other provisions of TTC.
16. What are the characteristics of limited liability
companies?
1. Is established by one or more persons.
2. The partners are not responsible for the debts
of the company but are responsible for paying
the capital they commit to do.
3. The partners may not be more than 50 persons.
4. The minimum capital is 25000 TL.
5. The minimum nominal value of the shares is
25 TL.
6. Legal personality is vested on after the
registration to the chamber.
17. What are the untransferable powers of the
general assembly?
1. Amendment of the article of associations.
2. Appointment and dismissal of the managers.
3.Appointment and dismissal of the auditors.
4.Approval of annual financial tables activity reports.
5. Remuneration of the managers.
6. The approval of the capital share transfer.
7. Asking for the removal of a partner from the court.
8. The termination of the company.
18. What are the characteristics of the negotiable
instrument ?
1. Negotiable instrument is such an instrument
that the right stated on it may not be claimed or
transferred separately thereby.
2. The debtor is obliged to pay only in return of
the delivery of instrument
3. The transfer of the instrument requires in
every case the transfer of the possession there
of.
19.What are the sorts of bonds?
1.Registered bond
2. Bearer bond
3. Bond to the order .
20. What are the characteristics of the registered
bonds?
1. The bond which is registered under a certain
name and does not contain the term “to the
order” and not considered a bond to the order
by law is deemed as registered bond
2. The debtor has to make the payment to the
person whose name is registered or to his
successors.
3. The debtor may make the payment without the
return of the bond if the creditor grants a certificate
which includes his name
21. What are the characteristics of the bearer
bonds?
1. All valuable instruments that can be
understood as the bearer has the right to be
paid is deemed as the bearer bond.
2. The debtor may claim the plea as to the
voidness of the bond or to the wordings on the
bond or the pleas that can be personally
claimed against the bearer
3. A plea as the consent of the debtor for the
issuance of the bond may not be claimed.
22. What is policy (Bill of exchange)?
It is an unconditional money order including the
promisor, due date, place of payment, the promisee,
the date and place of order and the name of drawer.
23. If the endorsement is blank, what are the
choices of the bearer?
a) fill the endorsement on his name or on someone
else’s name,
b) endorse the policy again in blank to some other
person,
c) transfer the policy to a third person without filling
or endorsing.
24. What are the sorts of endorsement? Explain
them shortly.
1. Collection (tahsil) endorsement: If the endorsement
includes the wording “for collection” or “by proxy”
the bearer may use all rights arising from the policy
but may endorse the policy again “for collection”.
2. Pledge endorsement (rehin cirosu): Includes the
terms “the consideration is assurance (bedeli
teminattır) or “ consideration is pledge (bedeli
rehindir)”. The bearer may use all rights but he may
endorse the policy on collection.
25. What are the characteristics of the check?
1. The promisee of the check in Turkey may only
be a bank.
2. The endorsement must be unconditional.
3. Partial endorsement or the endorsement of the
promisor are void.
4. If the promisor applies to judge on the grounds
of unwillingly lose of check, the possessor
shall return it only if he has bad faith or
faulty .
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26. What are the periods for the payment of
check?
Check must be presented in ten days after the date of
drawing or in 30 days if in another city. 3 months if in
another continent.