NEWSLETTER-2020-metin

264 NEWSLETTER 2020 The Decision of the Court of Cassation of the Unification of Judgments holding that the Maturity Date on Time-Barred Bond Cannot Be Used as the Basis of Default* Att. Piraye Erdem Introduction The Court of Cassation General Assembly on the Unification of Judgments (“Assembly”), through its decision dated 25.12.2019 and numbered 2019/1 E. and 2019/8 K. (“Decision”) 1 , resolves differ- ences of opinion of the Civil Chambers of the Court of Cassation by stating that the maturity date on the bond, which lost the status as the bill of exchange due to expiration of the limitation period and, thus, was used as preliminary evidence, cannot be taken as the basis of default in a prosecution, or in a lawsuit filed, based on the fundamental relationship. In this article, the concepts, differences of opinion, and justification of the Decision are examined. A General Overview on the Concepts of the Decision Bond According to Turkish Commercial Code numbered 6102 (“TCC”), negotiable instruments are such documents that the right they contain cannot be claimed separately from the document. The bond, which is one of the bills of exchange regulated under the title, Negotiable Instruments, in the TCC, is a bill that contains the promise to pay a certain amount unconditionally. The person who has issued the bond * Article of November, 2020 1 The Court of Cassation General Assembly on the Unification of Judgments, num- bered 2019/1 E., 2019/8 K., 25.12.2019 (OG, No. 31185, 14.07.2020).