Definition of the Market

Even if it is possible to briefly describe the market as an organized bazaar or a shopping centre. The market is essentially established by special laws, place at where the buyers and sellers meet to each other to personally or indirectly at appointed times type and standards, and /or including of the paper sheets point at these signs of the goods concerning the markets are being bought/ sold, in the larger expression are organized markets.

As is known, purchases and sales are realized in accordance with the particular and specific regulations and legislative laws. These rules are determined in the current common laws, legislative arbitraments and obligations of regulations.

Reasons why the Market has been established to facilitate trading operations (Purchases-Sales), to provide an opportunity for the seller and buyer to realize purchase-sales depending on the certain market price within the publicity and the confidence by assuring the rights and franchise of the parties. All disagreements and conflicts which will be able to arise are fairly solved by specialists with the arbitrators to be consisted of the Market constitution and similar legal institutions in the shortest period. Mentioned code define the Commercial Markets as “Public Bodies”, purchases/sales of items with the inclusion of in written essentials in the market and fix and the prices at the places where the commercial necessities are needed, becomes busy with releasing them in accordance with the legal personality established by the ministry of commerce. how should the registry obligations of purchases and sales concluded on a limited scale of the articles relating to the markets to be fulfilled is explained in number 5590 law of article 52.

a): Buyer and seller being in the workspace of same market the procedures are getting registered by the market according to use and wont of the market.In case that the party obliged with the registry who is absent, another party is obliged to get the procedure registered and pay off its fee.

b): If a party of the buyer and/or seller in workspace of the market, another party is out,The procedure is registered by the nearest and authorized market, if the goods is included in both markets

  • If a party of the buyer and/or seller in workspace of the market, another party is out, the procedure is registered by the nearest and authorized market, if the goods is included in both markets and procedure is confirmed by fax, phone, telegraph is registered and paid off in concluded place.
  • In case of there is not any markets at the place where one of the parties act or there is a market but the goods does not to belong to that market and/or one of the parties is abroad, one of the parties is able to register and pay off it.

c:) activities and purchase/sales that members registered by the market realized out of the workspace of the market that should register and pay off.

d:) signed procedures at the places where are pointed out by the markets on the same day and the procedures related to the goods out of the market should be paid off and registered.