ERDEM-NEWSLETTER-2018-metin

44 NEWSLETTER 2018 Additionally, under Article 258 of the TCO, unless the installment debt is connected to a negotiable instrument, the buyer can always discharge his debt by paying the rest of the sales price in one payment. In this case, the portion of the advance sales price that corresponds to the unpaid installments, being not less than one-half, is reduced in accordance with the shortening of the payment period. Competent Court and Arbitration Under Article 262 of the TCO, the buyer who is resident in Turkey cannot waive the authorization of the court of residence, in advance, nor conclude an arbitration agreement in the disputes that arise from the installment sales agreements he has signed. “Prepayable installment sale,” which is a type of installment sale, is regulated in Articles 264 to 273 of the TCO. In this type of sale, the buyer is obliged to pay a certain part of the sales price, in installments prior to delivery, and delivers the good to the buyer when the agreed payment amount is reached; whereas, the idea of “receive today pay tomorrow” is valid for installment sales, the idea of “pay today receive tomorrow” prevails in this kind of sales. These regulations, which have a limited use area in practice, can be considered as a separate study topic. Conclusion Whereas installment sales contracts that falls under credit sales contracts have been regulated only under two Articles in the repealed law, it is regulated, in detail, in the TCO, in Articles 253 to 263. De- spite the inconveniences for the buyer related to the nature of credit sales, the prevalence of installment sales contracts, in practice, and based on economic need, has led to the regulation of this sales type under detailed mandatory rules 9 . Provisions for installment sales also include reflection of the idea of protecting the weaker side, which is one of the fundamental phi- losophies of the TCO. In this context, preventive measures that protect the buyer have been taken with detailed provisions. 9 Gümüş , p. 178.