• 무역상무연구
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• 제41권
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• pp.3-21
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• 2009

To understand the procedure of international commercial transaction clearly and logically, this author would like to emphasize the contractual approach in this paper. The main contract in the transaction is the contract of sale; to perform this contract, the three subordinate or supporting contracts(including the contract of carriage, the contracts of insurance and the contract of payment) should be followed and performed. In the contract of sale, besides the express Terms, the trade Terms have very comprehensive meanings. Each trade term in Incoterms(2000) deals with the matters relating to the rights and obligations of the parties to the contract of sale with respect to the delivery of the goods sold. It also provides for the duties of seller or buyer relating to the contract of carriage, the contract of insurance and the payment in the process of the delivery of goods. Especially, it does not provide the methods of payment concretely, but it imposes the seller to hand over the documents evidencing the conformity of the contract of sale, and the delivery which includes the documents of carriage and/or insurance. Thus although the trade Terms deal with the obligations of the seller or buyer directly, they are very closely related with the contract of carriage and the contract of insurance indirectly, and also with contract of payment using the documentary draft. For the Arbitration or the litigation in the case of the breach of contract, the trade Terms play very significant roles. When an arbitrator or a judge decides the case, they should understand each obligation clearly, in which case, the trade terms give answers about who is wrong or who is right. Therefore, the contractual approach focusing on the trade terms would give very fruitful advantages to the students or teachers in understanding the procedure of the international commercial transaction systematicly and comprehensively.

• 무역상무연구
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• 제42권
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• pp.33-66
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• 2009

Common law makes a distinction between partial breach and material breach. Attempted definitions of material breach are notoriously unsatisfactory, and the concept of partial breach does not necessarily bear an inverse relationship to substantial performance. This study will review the basic structure of common law contract remedies together with how these remedies are reflected in UCC Article 2 for sale of goods contracts. The matter is complicated because availability of remedy depends on the seriousness of the breach, and the right to cure, and (for sale of goods) these in turn depend on whether the contract is an installment contract or a single performance contract. Common law jurisdictions relegate specific performance of contracts to a last place in the hierarchy of contract remedies. Common law lawyers should recognize that this is the result of historical accident and not the product of some kind of superior intellectual effort. Not only is the attitude of civil law systems toward specific performance quite different, but for international sales contracts in developing nations, a remedy system based on the notion that substitute contracts are readily available(and therefore damage remedies are appropriate) is unrealistic. English common law courts were largely restricted to remedies in the form of monetary damages. For that reason the primary contract remedy at common law has never been specific performance. Rather, common law courts have struggled to develop an appropriate measure of monetary damages for breach of contract. Today, specific performance is viewed as an equitable remedy rather than common law. In the United States the dual court system has been abolished by a merger of law and equity courts into a single court structure. However some historical distinction linger on. The most important is that jury trials are generally not available in actions that seek equitable relief. If a plaintiff seeks in personam relief, such as specific performance of a contract, the action will be viewed as equitable and there will be no entitlement to a jury. Further, equitable relief will be granted only in those situations where the plaintiff pleads and proves that the remedy at law is inadequate. The purpose of this study aims to analyze the remedy system of breach of contract of U.K. and U.S. in the international commercial transactions with criterion of commercial rationality.

• 한국중재학회지:중재연구
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• 제5권1호
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• pp.365-387
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• 1995

• 무역상무연구
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• 제13권
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• pp.43-68
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• 2000

Incoterms mean the ICC official rules for the interpretation of trade terms which facilitate the conduct of international trade. Thus, the uncertainties of different interpretations of such terms in different countries can be avoided or at least reduced to a considerable degree. Nevertheless, Incoterms has been revised successively to adapt them to contemporary commercial practice. In particularly, substantive changes in Incoterms 2000 have been made in two areas: (i) the customs clearance under FAS and DEQ; and (ii) the loading and unloading obligations under FCA. But it should be stressed that the scope of Incoterms is limited to the contract of sale and not apply to the contracts of carriage, insurance and financing. Moreover, merchants wishing to use Incoterms 2000 should clearly specify that their contract is governed by 'Incoterms 2000'. It is particularly important to note that Incoterms are not dealt with a great number of problems, such as transfer of property rights, breaches of contract and exemptions from liability. Therefore, the contracting parties should clearly agree to the applicable law related their contract of sale, like the 1980 United Nations Convention on Contracts for the International Sale of Goods.

• 한국디지털정책학회:학술대회논문집
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• 한국디지털정책학회 2004년도 International Conference on Digital Policy & Management
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• pp.55-73
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• 2004

The Internet is a wonderland that can be enjoyed by the young, old, and those in-between. It is also a vast commercial market where many contracts are formed every second. The Internet and E-Commerce have created new situations that have generated sweeping proposals for fundamental changes in contract law. During the first half of the 20th Century. when many businesses expanded their geographic scope, there was a tremendous desire for uniform treatment of contracts for the sale of goods throughout the U.S.A. and the whole world. That same dynamic is now occurring in E-Commerce. There is a general recognition of the desirability of uniform contract law to govern E-commerce, but to date that does not exist, though there are extensive proposals for reform of contract law on the Internet. E-Commerce is currently plagued by some of the same problems that led to the passage of the UCC. In the absence of uniform legislation, state-by-state differences are inevitable with respect to E-Commerce. State-by-state differences in E-Commerce contract law is widely viewed as undesirable. To deal with this problem, a number of uniform bills have been proposed including UCITA, UETA, and revisions to Article 2 of the UCC (Subpart B). The thrust of these uniform acts is to create legal parity between paper records and electronic records. There is considerable resistance by consumer groups to this parity and progress towards Passage of UCITA, UETA, and revised Article 2 has been slow. The UCITA covers licenses of computer software but does not cover the sale oil goods on the Internet. The scope of the UCITA includes computer software. multimedia interactive products, computer data and databases, and Internet and online information, The UETA deals comprehensively with E-Commerce and contract law. The UCC covers the sale of goods, which does not necessarily involve E-Commerce. The basic principles of contract law are modified to deal with Internet transactions. Intent is inferred from the operations of electronic agents and "signatures" can occur with a response to an invitation to click to accept.

• 무역상무연구
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• 제75권
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• pp.49-69
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• 2017

Making a international contract of sale is not a simple work. International Trade parties(seller and buyer) may choose trade terms such as FOB or CIF to simplify their contracts and avoid misunderstanding of international commercial practice. Incoterms is the international rules for the interpretation of the trade terms, and firstly regulated by the ICC in 1936. The latest version is Incoterms 2010. Incoterms 2010 governs certain responsibilities between the seller and the buyer under the international contract of sale. Moreover, Incoterms 2010 provides the standard of division of costs relating to contract of carriage. But we should note that Incoterms 2010 is not the part of contract of carriage. The writer points out that there is no consistence principle in distributing the special costs under the contract of carriage like unloading cost from the transport vehicle. To avoid the dispute between the parties, it is more safe for international traders to fully and completely understand on the customs and practice of carriage of goods. Incoterms 2010 provides more detailed method of delivery of goods than CISG and RAFTD. Concerning the method of delivery of goods, CISG and RAFTD simply provide that the seller shall place the goods at the discharge of buyers. The writer suggests the basic principles to allocate the special costs of delivery of goods according to the trade terms under Incoterms 2010.

• 한국중재학회지:중재연구
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• 제15권2호
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• pp.93-123
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• 2005

As the international commercial transaction has drastically grown up with the mainland China, commercial disputes that are required to settle through ADR have tremendously increased during the last decade. Since China has not been fully exposed to the Free World for a long period of time, there would have been a great amount of misunderstanding about their competency and integrity to deal with internationally oriented commercial transactions with a view to internationally acceptable manner. This arbitration case was related to the contract in dispute of C&A Inc. as the importer v. China XX Importation Co. as the exporter for the sale of Silicon Metal. But after the contract were formed, exporter(respondent) declined to deliver the goods under the contracts because the market price of Silicon Metal increased according to the argument of the importer(claimant). Importer had to purchase alternative goods from other companies to substitute for the goods subject to the contracts in dispute. Importer purchased silicon metal of the same quality as under the contracts from two other Chinese companies as the necessary measure to mitigate the loss, paying prices higher than the contract price. Since exporter had breached the contracts, importer's loss should be compensated by the exporter as the Arbitration Tribunal decided for supporting importer's claim of loss for the substitute goods. This study is aiming at analyzing the rationale of the arbitral awards made by the Shanghai Commission in terms of (l)Place of Arbitration, (2)Applicable Law, (3)Validity of the Contracts, (4)Doctrine of Frustration, (5)Responsibility for the Mitigation of Damage by the Importer.

• 통상정보연구
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• 제12권4호
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• pp.385-404
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• 2010

The purpose of this article is to examine the Delays of Performance under UN Convention on Contracts for the International Sale of Goods. In theory, there exist three clearly distinguishable categories of breach of contract, namely non-performance, non-conforming performance and late performance. In particular, delays of performance are the most common breach of sales contract including late delivery, late payment or late performance of any other obligation. In this regard, this article examines how parties can, through careful drafting, avoid or minimize legal problems in case of delay in performance. Especially, the export perspective focuses on the seller's interests, which require that sanctions be as lenient as possible if the seller has breached the contract but that there are prompt and adequate sanctions if the buyer has breached the contract. Furthermore, the seller should ensure that a short or medium delay in delivery will not entitle the buyer to declare the contract immediately avoided and take precautions against late payment, including delayed opening of a letter of credit.

• 유통과학연구
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• 제21권9호
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• pp.115-121
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• 2023

Purpose: This study aimed to deal with disputes between the seller and the buyer in connection with the Letter of Credit (LC) in a sales contract. The Contracts for the International Sale of Goods (CISG) provides the rules on the fundamental breaches which can lead to termination of the sales contract but the CISG is not enough to govern issues arising from the LC disputes when the sales contract is not clear about the payment terms. This paper tried to find some solutions to the disputes by considering international rules, such as the Principles of European Contract Law (PECL). Research design, data and methodology: The methodology applied in this study was an analysis of some court decisions and extended literature review. Results: The study revealed that in contracts for the sale of international goods, the buyer was obliged to open an LC as manner of payment. If the buyer failed to open an LC or amend the terms of the LC, the seller could avoid the contract because this could deprive the seller's expected interest. Conclusions: Few studies in Korea have been comprehensively analyzed in terms of the obligations of regarding the LC with respect to the CISG in court cases. This study suggests safeguarding the buyer and seller when the LC is considered absolute or conditional.

• 한국마린엔지니어링학회:학술대회논문집
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• 한국마린엔지니어링학회 2005년도 후기학술대회논문집
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• pp.92-93
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• 2005

A contract for the shipbuilding is usually a complicated and involves statement of rights, obligations and responsibilities which each party agrees vis-a vis the other. The ultimate purpose of the contract is the sale and transfer of the finished ship by the builder to the buyer. Contracts for the construction and sale of ships are categorized as contracts for the sale of goods under English, United States, Germany and some countries law. On the other hand, The shipbuilding contract may be classified, not as a contract of sale but as a contract for work and materials under Korea, Japan and some countries law. Especially, most of countries are now well settled with regard to liability of a manufacturer in tort for physical injury and on the other for pure economic loss to remote owners of chattels. Where there is either a breach of contractual warranty or an implied warranty, there may be admiralty jurisdiction, depending once again on the situs of the event and its relationship to traditional maritime activity. Contract principles will be applied to the first type of warranty and tort principles will be applied to the second. First of all, this thesis is dealt with the contents of contract under English Law. Secondly, this thesis is analysed into the liability of shipbuilder in Products Liability under English, American and Korean Law comparisons. In conclusion, the author tries to give some suggestions as countermeasures of Products Liability to the shipbuilder in Korea.