The duration of the right of recourse of the bearer against the endorsers, the drawer and the other cheque debtors or the right of recourse of one of the cheque debtors against the other is regulated in Article 814 of the Turkish Commercial Code, which is titled as statute of limitations. Accordingly, the right of the bearer to apply against the endorsers, the drawer of the cheque or other cheque debtors shall expire three years after the expiry of the above-mentioned cheque presentation periods.
WHAT ARE THE CIRCUMSTANCES THAT INTERRUPT THE STATUTE OF LIMITATIONS FOR CHEQUES?
According to the relevant article of the TCC; “The statute of limitations is interrupted by the filing of a lawsuit, request for follow-up, notification of the lawsuit or notification of the receivable to the bankruptcy estate.” After the statute of limitations is interrupted, a new statute of limitations with the same duration will begin to run. The prosecution must be made within this new limitation period.
WHAT REMEDIES CAN BE APPLIED FOR A CHEQUE THAT IS TIME-BARRED?
The bearer of a cheque may use the time-barred cheque as a written evidence in the lawsuits to be filed.
A lawsuit may be filed based on the original underlying debt relationship. In other words, it is possible to file a lawsuit based on the statute of limitations arising from the main debt relationship.
It is possible to file a lawsuit based on the main basic debt relationship. In other words, it is possible to file a lawsuit based on the statute of limitations arising from the underlying debt relationship.
Pursuant to Art. 732 of the TCC, an unjust enrichment action may be filed.
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