Consumer Notes
A consumer note is a special type of promissory note issued by a consumer and given to a seller or provider in exchange for the purchase of goods or services.
Consumer notes are regulated under the Law on the Protection of the Consumer No. 6502 (LPPC) and the Turkish Code of Obligations No. 6098. The most important feature that distinguishes consumer notes from other commercial bills is the mandatory method required for their form and transfer. A consumer note that is not issued in accordance with the form requirements sought by the law is invalid. A lawsuit must be filed to determine its invalidity.
It is a type of note registered to a named person, given to the seller or provider by a buyer acting as a consumer when purchasing products such as appliances, furniture, vehicles, housing, phones, etc., if the payment is to be made in installments. Since a consumer note given for the purchase of goods or services is not commercial in nature, it is subject to special provisions aimed at protecting the consumer, in accordance with the principle of the social state of law. If the goods and services purchased by the buyer are for commercial purposes, the buyer can no longer benefit from the advantages provided by consumer notes. It is not possible for a car dealer buying a vehicle for their gallery or a furniture dealer buying furniture for their store to benefit from the provisions on consumer notes.
According to Article 4 of the Law on the Protection of the Consumer No. 6502, the validity conditions for a consumer note are as follows:
1- In installment sales, separate notes must be issued for each installment. A single note for the total debt cannot be taken. Otherwise, the note is invalid.
2- The installment amount and due date must be clearly stated on each note.
3- The issuance of the note cannot impose additional burdens on the consumer, such as extra interest, costs, attorney's fees, penalty clauses, or commissions.
4- The seller or provider cannot receive a blank (signed but not filled out) note from the consumer. Blank notes received from consumers are legally invalid.
5- A consumer note cannot be issued 'to order'; it cannot be endorsed.
6- It must be registered to a named person and bear the phrase "in consideration of a consumer transaction". If a consumer note is issued 'to order', it becomes invalid.
Lawsuits to be filed for the cancellation of consumer notes that do not meet the above conditions fall under the jurisdiction of Consumer Courts. In such cases, the "principle of interpretation in favor of the consumer" applies. The legislator aimed to protect the consumer, who is in a weaker economic position.
The transfer of a consumer note to a third party is subject to the provisions of the assignment of a claim. The "principle of abstraction," which is valid for commercial bills of exchange, does not apply to consumer notes. The debtor of a consumer note has the right to assert defenses arising from the underlying relationship against a third party to whom the note has been assigned.
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