`pledge-of-receivables` ile İlgili Madde Sonuçları

The lex commissoria prohibition refers to the invalidation of contractual clauses agreed upon by the parties prior to the debt becoming due, which provide that in the event of non-performance, the asset pledged as collateral—or the pledged receivable—shall pass directly to the pledgee’s ownership. This prohibition, regulated under Article 873, paragraph two, of the Turkish Civil Code, aims to prevent the creditor from unfairly benefiting from the debtor’s economic vulnerability and to protect th