• Title/Summary/Keyword: reasonable reliance

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Interpretation of Estoppel Doctrine in the Letter of Credit Transaction : Comparison between UCP 500 and 95 UCC (신용장거래(信用狀去來)에서의 금반언법리(禁反言法理)에 관한 해석(解釋) - UCP 500 제13조, 제14조와 95 UCC 제5-108조의 비교를 중심으로 -)

  • Kim, Young-Hoon
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.12
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    • pp.429-460
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    • 1999
  • The letter of credit is quintessentially international. In the absence of international legal system, a private system based on banking practices has evolved, commanding the adherence of the international letter of credit community and providing the foundation of th reputation of this instrument. To maintain this international system, it is vital that international standard banking practice should not be subject to local interpretations that misconstrue or distort it. The UCP is a formulation of international standard banking practice. It is neither positive law nor a "contract term" in any traditional sense and its interpretation must be consonant with its character as a living repositary of international understanding in this field. As a result, the interpretation and application of specific articles of the UCP must be consistent with its evolving character and history and with the principles upon which sound letter of credit practice is predicated. This study, especially, focuses on article 13 and article 14 of the UCP500. Article 13(b) of UCP500 stipulates that banks will have a reasonable time, not to exceed seven days, to examine documents to determine whether they comply facially with the terms of the credit. The seven-day provision is not designed as a safe harbor, because the rule requires the issuer to act within a reasonable time. But, by virtue of the deletion of the preclusion rule in the document examination article in UCP500, however, seven days may evolve as something of a safe harbor, especially for banks that engage in strategic behavior. True, under UCP500 banks are supposed to examine documents within a reasonable time, but there are no consequences in UCP500 for a bank's violation of that duty. It is only in the next provision. Courts might read the preclusion more broadly than the literal reading mentioned here or might fashion a common-law preclusion rule that does not require a showing of detriment. Absent that kind of development, the change in the preclusion rule could have adverse effects on the beneficiary. The penalty, strict estoppel or strict preclusion, under UCP500 and 95UCC differs from the classic estoppel. The classic estoppel rule requires a beneficiary to show three elements. 1. conduct on the part of the issuer that leads the beneficiary to believe that nonconforming documents do conform; 2. reasonable reliance by the beneficiary; and 3. detriment from that reliance. But stict preclusion rule needs not detrimental reliance. This strict estoppel rule is quite strict, and some see it as a fitting pro-beneficiary rule to counterbalance the usually pro-issuer rule of strict compliance.

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Effects of Media on Nutritional Knowledge and Dietary Behavior (대중매체가 영양지식과 식행동에 미치는 영향)

  • 박수정;이윤희
    • Journal of the East Asian Society of Dietary Life
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    • v.8 no.2
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    • pp.137-146
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    • 1998
  • This study was designed to investigate the main sources of food and nutrition, utilization, reliance, nutritional knowledge and dietary behavior. The results are as follows. 1. The main sources of food and nutritional information are television and radio, newspaper and popular magazines in that order. 2. The first topic is a guiding principle in the dietary life of adult disease prevention. 3. The percentage of the perceived nutritional knowledge of respondents using the newspaper and popular magazines is higher than for the respondents using the television and radio, but the accuracy of the nutritional knowledge was not significant. Per the results, the nutritional education of people through the mass media is very reasonable, Therefore, it is necessary to develop a nutritional education program and implement the program using the most practical mlethod to deliver the information.

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An Empirical Study on the Strategic Outsourcing of Korean Footwear Industry -An Emphasis on the Busan Regional Footwear Companies- (한국 신발산업의 전략적 아웃소싱 실태에 관한 연구 -부산지역 신발업체를 중심으로-)

  • Song Kyung-Soo;Park Heung-Ju
    • Management & Information Systems Review
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    • v.8
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    • pp.61-86
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    • 2002
  • This study is focused on how to effectively support Busan regional footwear companies in partnership with parent company, in particular how to lead a mutual supplementary relationship with the minor firms while improving the efficiency in strategic outsourcing. Recently, The Korean Footwear Industries and companies are making a lot of efforts to enhance the structure of high expenditure and low efficiency as a means of recovering their competitiveness. As a domestic companies have a tendency to almost all the tasks on bloc, it is true that their competitiveness is on the rapid decline for they prefer self-reliance on the premise that all the production should be dealt with for themselves. It is strategic outsourcing that is taken into account as a strategic vehicle for converting such self-reliance into the system of low expenditure and high efficiency. This study also conducted questionnaire researches, designed to find out the difference between the parent company and minor firms in the recognition and contentment on the purchasing and supplying activities. The result of the questionnaire researches went through further analysis and study to give a reasonable alternatives.

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Study of combinations of site operating states for multi-unit PSA

  • Yoo, Heejong;Jin, Kyungho;Heo, Gyunyoung
    • Nuclear Engineering and Technology
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    • v.53 no.10
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    • pp.3247-3255
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    • 2021
  • As Probabilistic Safety Assessments (PSAs) are thoroughly conducted for the Site Operating States (SOSs) for a single unit, multi-unit Probabilistic Safety Assessments (MUPSAs) are ongoing worldwide to address new technical challenges or issues. In South Korea, the determination of the site operating states for a single site requires a logical approach with reasonable assumptions due to the fact that there are 4-8 operating units for each site. This paper suggests a simulation model that gives a reasonable expectation of the site operation states using the Monte-Carlo method as a stochastic approach and deterministic aspects such as operational policies. Statistical hypothesis tests were conducted so that the reliance of the simulation results can be guaranteed. In this study, 7 units of the Kori site were analysed as a case study. The result shows that the fraction of full power for all 7 units is nearly 0.45. For situations when more than two units are not in operation, the highest fraction combination was obtained for Plant Operation State (POS) 8, which is the stage of inspection and repairment. By entering various site operation scenarios, the simulation model can be used for the analysis of other site operation states.

A Study on the "Vertrauensgrundsatz" in aviation (항공 교통에서의 신뢰의 원칙)

  • Ham, Se-Hoon;Whang, Ho-Woon
    • Journal of the Korean Society for Aviation and Aeronautics
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    • v.19 no.2
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    • pp.45-51
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    • 2011
  • The article specified in aviation legislation, 'The captain has the final authority and responsibility in flight safety' could be one reason running counter to applying "Vertrauensgrundsatz". In practice, however, captains do not have professional skills in every task and they should distribute duties and responsibilities to flight attendents and other staffs to operate the flight as safely and efficiently as possible. Therefore, in aviation, fair criterion, namely, "Vertrauensgrundsatz" is necessary to balance between efficiency and legal interest for participants. In addition, when it comes to mutual trust of duty which was the starting point of this study, the standard in mutual advice or interference must be based on the duty specified in air law and flight regulations. Also, pervasive trust will not only be attributed to joint responsibility but an act that cannot be trusted.

Relationship of Depression, Irrational Faith and the School Adaptation of Elementary School Students (초등학생의 우울성향, 비합리적 신념, 학교적응의 관계)

  • Lee, Tae-Hyeon
    • 한국초등상담교육학회:학술대회논문집
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    • 2004.01a
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    • pp.223-245
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    • 2004
  • The purpose of this study was to investigate the differences in depression, irrational faith and the school adaptation of elementary school students by their sex and region, to provide basic materials to teach children with the likelihood to be depressed by analyzing the correlation of depression, irrational faith and school adaptation, and help them to have healthy emotion and behaviors. To achieve these goals, following agenda were set. First, what are the differences in the depression, the irrational faith and the school adaptation of elementary school students by their sex and region? Second, what is the relationship between the depression characteristics and the irrational faith of elementary school students? Third, what is the relationship between the irrational faith and the school adaptation of elementary school students? Fourth, what is the relationship between the depression characteristics and school adaptation of elementary school students? : To resolve these agenda, the subjects were selected from Grade 6 students from the elementary schools locatec in Suwon and Hwaseong. The jubjects were selected from the two schools in Suwon and three schools in Hwaseong which were randomly chosen. The subjects were 670 in total. 70 insincere answers were excluded from the analysis. Therefore the subjects used in the analysis were 600 in total(150 male and female students in city respectively and 150 male and female students in rural area respectively). The tools used for this study were Children's Depression Inventory (CDI), Irrational Faith Test (over-self-reliance, dichotomy, determinism, over-concern, evasive faith, over dependent faith), School Adaptation Test (Attitudes to teachers and school environments, hobbies and specialties, academic achievements, peer relationship). Materials were processed with the SPSS program for ANOVA and correlation analysis. All the statistical values were verified at .05 level. The followings are the results of the analysis of the collected data. First, in the analysis of depression, there was significant difference between male and female students (F=4.75, p<.05). Female students (X =56.93) showed a little higher value than male students (X =53.83). There was significant difference between regions (F=13.02, p<.001), too. Rural area students (X =57.93) showed higher value than city area students (X =52.82). When analyzing irrational faith, there was significant difference between male and female students (F=S.60, p<.05). Female students (X =81.32) showed a little higher value than male students (X =77.72). There was no significant difference according to regions. When analyzing the school adaptation, there was no significant difference according to either sex or region. Second, depression and irrational faith showed highly positive correlations in all areas. In particular, over concern and evasive faith showed the highest correlation with depression inclination (r=.68, p<.001). When looking into the results by sex and by region, female students (r=.70, p<.001) and the rural area students (r=.69, p<.001) showed higher correlation between depression and irrational faith than male students and city area students (r=.63, p<.001). Additionally, in all areas including by sex and by region, a positive correlation was shown. In all variables such as male students (r=.63, p<.001), female students (r=.72, p<.001), city area students (r=.66, p<.001), and rural area students (r=.69, p<.001), over concern and evasive faith showed the highest correlation with depression inclinations. Third, irrational faith (overall) and its sub factors such as over-self-reliance, dichotomy, determinism, over-concern and evasive faith had significant negative correlations with school adaptation (overall) and its sub factors in the scope of $r=-.27{\sim}-.52$. Determinism out of the sub factors of the irrational faith had the highest negative correlation with school adaptation (overall) and sub factors at the scope of $r=-.37{\sim}-.51$. However, over-self-reliance showed the negative correlation with school adaptation (overall) and its sub factors only partially. When looking into the results by gender, both genders showed significant negative correlation between irrational faith (overall) and its sub factors with school adaptation. Male students showed highly negative correlations with school adaptation (overall) and its sub factors in determinism ($r=-.35{\sim}-52$) and over-concern and evasive faith($r=-.31{\sim}-.51$), and fern ale students showed in over-self-reliance ($r=-.27{\sim}-.45$). However over-self-reliance showed negative correlation with school adaptation and its sub factors only partially. When looking into by region, both city and rural areas showed significant negative correlation between irrational faith (overall) and it sub factors, and school adaptation. Rural areas showed higher negative correlation in irrational faith (overall) ($r=-.39{\sim}-.53$) and over-self-reliance ($r=-.32{\sim}-.44$) and dichotomy ($r=-.28{\sim}-.39$) than city areas. However over-self-reliance showed negative correlation with school adaptation and its sub factors only partially. Fourth, depression and school adaptation showed the negative correlation in all areas. In particular, academic achievements and peer relationship showed the highest negative correlation with depression (r=-.53 p<.001). When looking into the results by sex and by region, female students (r=-.62, p<.001) and rural area students (r=-.61, p<.001) showed higher negative correlation with depression and school adaptation than female students (r=-.56, p<.001) and city area students (r=-.57, p<.001). Although there was negative correlation in all areas by sex and by region, male students (r=-.52, p<.001) and rural area students (r=-.56, p<.001) showed the highest negative correlation in peer relationship and female students (r=-.57, p<.001) and city area students (r=-.56, p<.001) showed the highest negative correlation in academic records. Based on the results of the study, it is proposed to provide elementary school students sho are likely to be depressed very easily with careful counselling and teaching based on the attention and love in school fields so that they can adapt themselves to home, school and society with positive and reasonable thinking.

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A Study of Kinematic Selection and Design of Manipulator Aimed to Specified Task (작업지향형 매니퓰레이터 기구설계기법에 관한 연구)

  • Lee, Hee-Don;Yu, Seung-Nam;Ko, Kwang-Jin;Han, Chang-Soo
    • Proceedings of the KSME Conference
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    • 2007.05a
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    • pp.939-944
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    • 2007
  • Generally, development of a robot capable of fast movements or high payloads is progressed by the analysis of dynamic characteristics, DOF positioning, actuator selection, structure of links, and so on. This paper highlights the design of a robot manipulator handled by a human for man-machine cooperation. The requirements of the proposed system include its having multi-DOF(Degree of Freedom)and the capacity for a high payload in the condition of its maximum reach. The primary investigation factors are motion range, performance within the motion area, and reliabilityduring the handling of heavy materials. Traditionally, the mechanical design of robots has been viewed as a problem of packaging motors and electronics into a reasonable structure. This process usually transpires with heavy reliance of designerexperience. Not surprisingly, the traditional design process contains no formally defined rules for achieving desirable results, as there is little opportunity for quantitative feedback during the formative stages. This work primarily focuses on the selection of proper joint types and link lengths, considering a specific task type and motion requirements of the heavy material handling.

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Diagnosis of a trouble existence and development of prediction method for electrical equipment inside a building (건축물 내 전기설비 이상 유무 진단 및 예측기법 개발)

  • Kim, Young-Dal;Kim, Hyo-Jin;Kim, Dae-Sik;Kim, Jae-Hoon;Han, Sang-Ok
    • Proceedings of the KIEE Conference
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    • 2005.07e
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    • pp.31-33
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    • 2005
  • The accelerating of industrial development causes electricity demand to increase. By that power equipments need high power, multi function and intelligence. Also consumers demand for guarantee power supplying of good quality and reasonable operating equipment. Also they require for reliance and stabilization of power facility. Therefore preventive maintenance of electric installation must be developed and improvement of domestic technical level is needed in the maintenance management of equipment. The diagnosis of trouble existence is technique that compares steady state with unusual condition, whereas the prediction technique makes a diagnosis of remaining equipments life. It is difficult for us to diagnose trouble existence of electric installation and to develop prediction method in building because of a wide scope for electric installation in building. And in this paper we will investigate diagnosis and prediction method for only switch part of electric installation in building.

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An Economic Perspective on Food Security

  • Seung-Ryong Yang
    • Proceedings of the Korean Society of Crop Science Conference
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    • 2022.10a
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    • pp.9-9
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    • 2022
  • The concept of food security has gained increasing attention during the food crisis period between 2006 and 2011. According to the FAO, food security is defined as an access by all people at all times to the food needed for healthy and active life. Achieving food security means that sufficient food is available, food supply is relatively stable, and those in need of food can afford food at a reasonable cost. After a short period of stable food prices the world is facing another food crisis due mainly to the COVID-19 pandemic and the Russian invasion over Ukraine. Food security has re-emerged as an urgent problem to the world. There have been two conflicting opinions about how to achieve food security. Agricultural exporting countries insist diversification of food sources and freer trade on the top of domestic self-reliance. On the other hand, food importing countries emphasize self-sufficiency of major food crops. This study investigates whether domestic agricultural production contributes to strengthening food security. The panel data analysis shows that the increase in food self-sufficiency raises the Global Food Security Index and lessens the probability of food riots, while lower import tariffs (implying freer trade) do not. Some related issues are discussed accordingly.

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A Study on the Remedy for Breach of Warranty under the Uniform Commercial Code (UCC상 Warranty 위반의 구제에 관한 연구)

  • 서정일
    • Journal of Arbitration Studies
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    • v.13 no.2
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    • pp.291-319
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    • 2004
  • The seller may take a warranty with respect to the goods. If they are not as warranted, they may be held liable for the breach of warranty. Even when they has not made a warranty, the law will in some instances hold them responsible as though they had made a warranty. An express warranty is a part the basis for the sale. That is, the buyer has purchased the goods on the reasonable assumption that they were as stated by the seller. When the buyer intends to use the goods for a particular or usual purpose, as contrasted with the ordinary use for which they are customarily sold, the seller makes an implied warranty that the goods will be fit for the purpose when the buyer relies on the seller's skill or judgment to select or furnish suitable goods, and when the seller at the time of contracting knows or has reason to know the buyer's particular purpose and his reliance on the seller's judgment. A merchant seller who makes a sale of goods in which he customarily deals makes an implied warranty of merchantability. The Uniform Commercial Code expressly abolishes the requirement a privies to a limited extent by permitting a suit for breach of warranty to be brought against the seller by members of the buyer's family, his household, and his guests, with respect to personal injury sustained by them. Apart from the express provision made by the Code, there is a conflict of authority as to whether privies of contract is required in other cases, with the trend being toward the abolition of that requirement. At common law the rule was that only the parties to a transaction had my rights relating to it. Accordingly, the buyer could sue his immediate seller for breach of warranties. The rule was stated in the terms that there could be no suit for breach of warranty unless there was a privies of contract. The code expressly abolishes the requirement of privies to a limited extent by permitting a suit for breach of warranty to be bought against the seller by members of the buyer. Apart from the express provision made by the Code, there is a conflict of authority as to whether privies of contract is required in other cases, with the trend being toward the abolition of that requirement.

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