Newsletter-21

262 NEWSLETTER 2016 provisions regulating errors in the predictions concerning future facts will be discussed. Fundamental Error As stated above, in principle, given that the error relates solely to the reason for concluding the contract, the provisions regarding error shall not be applied. However, provided that the conditions specified under Article 32 of the TCO are realized, the party falling into such error may cancel the contract. The above mentioned provision reads: “If the error relates solely to the reason for concluding the contract, it shall not be deemed fundamental. The error shall be fundamental when the party falling into the error in the reason for entering into such contract considers this as the base of the contact and when this consideration is also in conformity with the good faith principles required in business life. However, this situation shall also be known by the counter party.” According to this provision, as accepted in the doctrine, an error is considered fundamental provided that the following conditions are realized 1 : • The error that a party falls into shall relate to an issue that influences the formation of the will for entering into the con- tract. • The subject of the error shall constitute a condictio sine qua non for conclusion of the contract for the party falling into the error. • The error relating to the reason for entering into the contract shall be able to be known by the counter party. • In accordance with the good faith principles required in busi- ness life, the effect of the error on the validity of the contract entered into shall be deemed reasonable. 1 Kemal Oğuzman / Turgut Öz , Borçlar Hukuku, Genel Hükümler, Volume: 1, Istanbul 2014, p. 101 ff.