NEWSLETTER-2019-metin

46 NEWSLETTER 2019 Conclusion Shares constitute the fundamental subject of share purchase agreements. However, purchasers generally seek and aim for the ac- quisition of enterprises of the company to which the shares belong. In this context, in addition to the qualifications related to the shares, the qualifications of the target company have crucial importance for purchasers. Despite such determination, there is no specific regulation con- cerning the seller’s liability arising from the qualifications of the target company under share purchase agreements in the TCC or the TCO. Due to the inadequacy of the provisions of the TCO concerning sale agreements in terms of share purchase agreements, the parties usually seek to assign, in detail, the potential issues 10 . Accordingly, representations and warranties concerning the target company, the scope of the seller’s responsibility for these and their results should be drafted, in detail, in accordance with the will of the parties in share purchase agreements. 10 Buz , p. 69.