ERDEM-NEWSLETTER-2018-metin

70 NEWSLETTER 2018 if it is placed on the reverse side of the bill, it may be confused with the endorsement. There is no doubt that both suretyship and aval provide personal assurance. However, while the provisions on surety protect the surety against the creditor, the provisions on aval protect the bearer against the principal debtor and the applicant debtors. In this respect, the com- parison of suretyship and aval provisions also contradicts the purpose of the regulation. At this point, it is also stated that the requirement for the consent of spouse for aval does not comply with the negotiability of the bill of exchange. It is indisputable that the bill of exchange will expand with the addition of other records and documents as to whether or not the avaliste is married; if yes, whether the spouse has consented to the circulation. It is clear that the lawmaker limited the scope of Article 584 of the TCO through the third clause added to Law No. 6455 shortly after the Law came into force. The fact that the lawmaker did not include aval in the limitation is interpreted as not seeing aval within the scope of Article 603 of the TCO. Otherwise, it is deduced that it is the bearer’s obligation to ascertain whether or not the avaliste is married, and if the exceptions in Article 584/3 of the TCO exist or not. Consequently, this will have an adverse effect on the negotiability of the exchange. The General Assembly on the Unification of Judgments stated that exceptional provisions, such as Article 603 of the TCO, should be interpreted narrowly, and that the broad interpretation of limitations regarding the form and capacity in such a way so as to exceed the pur- pose of the lawmaker will damage the principle of legal security and the principles of freedom of contract and freedom of form in the TCO. The purposes of the provisions are also mentioned in the decision. There is a serious difference between aval and suretyship in terms of protected persons and interests. In the doctrine, aval is considered only as a guarantee in relation to bills of exchange. It is stated that the exis- tence of an economic function, in addition to the guarantee function of the aval, prevents the application of Article 603 of the TCO to the aval. Considering that speed and convenience are required in commercial affairs, and a bill of exchange is the bill that has the fastest negotiabil- ity rate as a characteristic of negotiable instruments, it is accepted that