^#smrgSAHAF Turkish Business Law 1: Law Of Obligations (Contrats And Torts) -

A business enterprise requires various functional activities such as marketing, management, personnel, finance, banking insurance, advertising, accounting, capital investment etc. All these activities may involve legal implications.

In carrying out a business activity, enterprises enter into a legal relationship with their counterparts. While the parties can freely determine the scope and content of their contract according to the principle of "freedom of contract", they have to respect also the limits set by law. They should also have a strong understanding of law in order to comply with and to interpret applicable law.

The term "Business Law" does not refer to a single field of law. Rather, it describes those parts of the law that are most closely connected with business activities. In fact, Business Law incorporates the basic principles of the law of obligations and commercial law.