NEWSLETTER-2020-metin

120 NEWSLETTER 2020 Amendment of the Law on Form of Contracts between Debit Card and Credit Card Issuers and Card Holders* Prof. Dr. H. Murat Develioğlu Introduction As is generally known, one of the fundamental principles of Turk- ish Civil Law is the “ freedom of contracts ” principle. “ Freedom of form ” is a reflection of the freedom of contracts principle. This defini- tion is expressly set out in Article 12 of the Code of Obligations, titled, “ Form of Contracts – General Rule ” with the following wording: “ The validity of contracts does not depend on any form requirement , unless otherwise is provided with the law. ” In other words, unless the law sets a form requirement, a contract can be made orally no matter how valuable its subject matter is. Furthermore, the validity of some types of contracts require a specific form, such as “ written form, ” “ qualified written form, ” or “ notarized form. ” Some of the contract types that used to require specific forms were the contracts between card holders and debit card and credit card issuers. However, this situation has changed with the Law No. 7247 on Amending Some Laws and Decree Laws Changes on Some Laws and Decree Laws (“Law No. 7247”). The Law on Form of Contracts between Debit Card and Credit Card Issuers and Card Holders before Law No. 7247 Came Into Force The rule on form of contracts between card holders and debit card and credit card issuers can be found in Article 24, paragraph 1, titled, “ Terms of Contract ” under the Law No. 5464 on Debit Cards and Credit Cards (“Law No. 5464”). However, the provision as to form requirement has changed with Law No. 7247. The provision must conclude a valid contract before the amendment, below, is presented. * Article of October, 2020