• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.63
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• pp.63-88
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• 2014

The culpa in contrahendo is a doctrine that "damages should be recoverable against the party whose blameworthy conduct during negotiations for a contract brought about its invalidity or prevented its perfection". In China, Chinese Civil law gradually adopted Culpa in Contrahendo under the former 'economic contract law' and the 'general rules of the civil law', then the legal system of culpa in contrahendo was formally established under Contract Law of the People's Republic of China(CLPRC) in 1999. To put it concretely, Art. 42, 43, 58 of the Chinese Civil Law expressly establishes a culpa in contrahendo liability derived from a principle of good faith governing pre-contractual negotiations. however, in general, culpa in contrahendo has been recognized a independent legal liability as distinct from contractual default liability and torts liability. This article provides a general description of the characteristics of culpa in contrahendo under Chinese Contract Law, and both theoretical issues that have arisen in Chinese academics and relevant important precedent in Chinese Courts. This article also analyzed trend of judgment on precedents that the Supreme Peoples's Court of the PRC applied culpa in contrahendo.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.61
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• pp.213-245
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• 2014

This study has significance in examining the formation requirements and notes for concluding the guarantee contract of minimizing interests and conflicts with the concerned parties by examining issues related to the legal relation and demand payment in the concerned parties and by figuring out the provisions of conformity related to the requirements for demand payment pertinent to the documentary provision in relation to characteristics of demand guarantee. What the concerned parties of using demand guarantee grasp the requirements for demand payment of being compliant with the essence and the guarantee condition of the demand guarantee will lead to possibly preventing a dispute caused by disagreement and being secured the fulfillment of underlying contract. To fulfill a underlying contract that is the objective of issuing the demand guarantee, an effort is needed that minimizes a contract-based risk and a cost by being fully aware of a relevant rule that will be recorded in the terms of payment in the demand guarantee, by reflecting the interests between the concerned parties, and by discussing the payment terms.

• Journal of Distribution Science
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• v.12 no.4
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• pp.11-22
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• 2014

Purpose - The domestic franchise industry has made significant contributions to industry such as investment, employment, and community economy development, facilitating growth potential. The franchise industry provides management knowhow transfer between parent companies and franchisees as per contracts addressing use of business signs, franchisees' independent position, franchisor support, and royalties to be paid to the franchisors. However, many franchisors lack management knowhow and provide insufficient support because of poor control of franchisees and not having a systematic approach to support. This results in dissatisfied franchisees and failure to establish long-term relationships. Few studies have examined relational commitment and/or re-contract intention by support resources between franchisors and franchisees, despite a considerable output of theories and studies of the growth of the franchise industry. The purpose of this study, therefore, was to examine the effects of the ability to provide resources on relational commitments and re-contract intention, and to suggest causal relationships and implications. Research design, data, and methodology - The subject was domestic franchisors registered with the Association of Franchise with more than 50 franchisees. Franchisees under contract for 2 years and considering re-contract of their franchise 2 years later were used. The subjects totaled 300 franchisees in Seoul. A questionnaire survey was used to investigate the subject of franchisees' concessions during the 10 days from November 21, 2013 to November 30, 2013. After excluding 16 surveys with poor answers, 284 responses were finally used. Four areas and 44 questions were used. A nominal scale was used for four common characteristics questions including gender, ages, educational background, and franchise managing time. Questions regarding ability, relational commitment, and re-contract intention made use of a Likert 5-point scale. Data coding and data cleaning were used. SPSS 18.0 was used as follows. First, frequency analysis was done to investigate demographic characteristics. Second, exploratory factor analysis was done to verify validity of testing tools, and Cronbach's α coefficient was used to verify reliability. Third, correlation analysis and multiple regression analysis were done. An exploratory factor analysis was done to verify validity of concepts. A correlation analysis was done to test relationships between the variables, and multiple regression analysis was done to verify franchisor's ability, franchisees' relational commitment, and re-contract intention. Results - The following were the outcomes. First, store operation management, finance operation management, and human resource management affected the calculated bond. Second, store operation management and finance operation management affected the emotional bond. Third, store operation management, finance operation management, human resource management, and marketing management affected the prescriptive bond. Fourth, calculated bond and prescriptive bond had an effect on re-contract intention. Conclusions - As stated above, in franchise management, parent companies' offer and instruction of core competence to their franchisees as an information resource could improve the relational bond by helping them grow together through the resource sharing. Consequently, core competence factors were promoting factors that could improve franchisees' re-contract intention for a long time.

• Journal of Arbitration Studies
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• v.29 no.2
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• pp.89-105
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• 2019

This paper reviews and analyzes the U.S. cases and statutes on the issue of party autonomy in arbitration agreement. Arbitration agreement has been interpreted somewhat differently from general contracts because its legal characteristics are not purely contractual by nature. For example, some legal scholars insist that an arbitration contract is more about an agreement on a process of dispute resolution than a creation of rights and obligations to avoid litigation. Party autonomy was discussed in diverse legal perspectives including contract of adhesion, VKI principle, and separability of arbitration clause. These three legal perspectives are discussed to set the legal relationship between party autonomy and protection of consumers in consumer arbitration. In addition, it was discussed how legal defects in the formation of an arbitration contract can influence the party autonomy. The legal defects that were discussed to analyze the relationship between arbitration agreement and party autonomy included misrepresentation, fraud, mistake, duress, and undue influence.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.14
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• pp.397-426
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• 2000

Since the internet is open to public in 1990, electronic commerce(EC) user has increase rapidly. Now EC is considered not only as communication method but also as new economical activities. EC is a kind of new commerce model which uses electronic means. And EC has global characteristics so that many country's legislation which regulates it differently makes an obstacle to vital of EC. The purpose of this study is to examine legal problems of internet electronic commerce. First, there are some legal problems whether electronic document has same legal function like traditional documents. Second, electronic signature must has authenticity, integrity, non-repudiation, writing and confidentiality in order to use looks like common signature. Finally, electronic contract is concluded on principle of mutual agreement. It is apparent that the concept of arrival is applied to the date and place in conclusion of electronic contract.

• Journal of Family Relations
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• v.22 no.3
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• pp.155-183
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• 2017

Objectives: The purpose of this study identified the perceived quality of parent-child relationships and attitudes toward filial duty contracts among young adult children. Also, this study is to examine the effects of sociodemographic characteristics and perceived quality parent-child relationships on the attitudes toward filial duty contracts and the requirement for filial duty contract details. Method: For this study, a survey was conducted with 210 college student children in young adulthood in Seoul and Gyeonggi-do. The questionnaire consisted of the 'Attitudes toward Filial Duty Contracts Scale', the 'Requirement for Filial Duty Contract Details Scale', and the 'Quality of Parent-Child Relationships Scale' with a demographic questionnaire. Specifically, the Attitudes toward Filial Duty Contracts Scale consisted of the support for contract, the intention of contract, and reservation contract amount on young adult children's mind. Data were analyzed by means of descriptive statistics and multiple regression analysis. Results: The major findings of this study are as follows: First, young adult children reported the relationship with mother better than father's and mid levels of support and intention of filial duty contract. They also showed that their reservation contract amount on their mind was about 500 million won. Second, the multiple regression analyses revealed that gender and pride of one's father positively related to their support for filial contract. Also, gender, the pride of one's father, and emotional closeness to one's father significantly affected their intention of filial contract. In addition, among the variables, only monthly family income significantly predicted their reservation contract amount. Finally, the multiple regression analyses revealed that birth order and gender significantly predicted the normative duty contract. Also, the pride of one's father significantly affected the emotional support contract. However, filial duty contract details such as caregiving for sick parents, physical support, and economic support have been found to be meaningless. Conclusions: The findings suggest that preparative education of aging for parents who are considering making the filial duty contracts with their children should include some realistic advice. These pieces of advice include their parent-child relationship and consideration of their own overall asset sizes.

• The Korean Journal of Financial Studies
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• v.6 no.1
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• pp.289-312
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• 2000

This paper proposes a pricing model for IPOs which can reconcile the average underpricing phenomenon with the expected wealth maximizing behaviors of market participants. Under the usual informational asymmetry, the optimal offer price for best efforts IPOs is derived as a function of the uncertainty about market's valuation, the expected return on proposed projects and the size of offerings relative to the firm's market value. Depending on these firm-specific characteristics, best efforts IPOs can be underpriced, fairly priced, or overpriced. Introducing the investment banker as an outside information producer, the model is extended to provide empirical implications for pricing and underwriting contract choice decisions which are consistent with the existing empirical evidences. The model predicts that the issuers with greater uncertainty about market's valuation choose best efforts contract over firm commitment contract and the dispersion of initial returns would be greater for best efforts IPOs than for firm commitment IPOs.

• Journal of the Korean Society of Food Culture
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• v.30 no.5
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• pp.629-643
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• 2015

The goal of the current study was to analyze major factors for improvement of quality of life in contract foodservice customers. This study investigated how characteristics of customers, foodservice management, and competitors differ in different contract foodservice business environments in order to understand increasing concerns over health, in-house working, and the environment, which are directly connected to work and life satisfaction and company profits. For the foodservice business environment, this study classified environmental factors reported by Duncan (1972) into three factors: customer environment, foodservice management environment, and competitor environment. Multi-regression analysis was conducted on quality of life using the Korean version of the WHO Quality of Life Scale Abbreviated Version (WHOQOL-BREF). Sub-factors of the contract foodservice business environment included foodservice management environment, customer environment, and competitor environment in the order of importance. The results indicate that the foodservice management environment of the company or organization where the customer is employed has the most substantial influence on quality of customer life.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.72
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• pp.25-55
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• 2016

The Buyer shall demand to the Builder the repayment of the pre-delivery instalments paid in case of the Builder's default under a ship-building contract. The Buyer require a refund guarantee issued by a financial institution for a security for the repayment of the pre-delivery instalments paid. As the title of a refund guarantee, in practice, is various, we should look into the contents or the expressions in a guarantee to decide whether a guarantee is a refund guarantee. A refund guarantee, a sort of independent bank guarantee, has characteristic of abstractness, and is independent from the ship-building contract. A refund guarantee is available against the beneficiary's first written demand and signed statement certifying that the Builder failed to make the refund in accordance with the ship-building contract. The guaranteed amount of a refund guarantee will be automatically increased in accordance with the Builder's receipt of the respective instalment, which is not in the other advance payment guarantee. These characteristics of a refund guarantee are derived from the expressions in a refund guarantee rather than inherent therein. This illustrates that careful attention is required to the contents and expressions of the main clauses in a refund guarantee.

• Journal of the Korean Society of Food Culture
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• v.33 no.1
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• pp.26-35
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• 2018

This study conducted an empirical analysis of the effects of job characteristics on work-family conflict relation and quality of life, as well as moderating effects in accordance with operation type, by targeting 245 dietitian/cooks working for contract foodservice companies. The results of this study are as follows. First, the autonomy and feedback had negative (-) effects on work-family conflict while functional diversity had positive (+) effects on work-family conflict. Job identity and job importance had no relation with work-family conflict. Second, work-family conflict had negative (-) effects on job satisfaction, work-family relation, job support, general happiness, and job environment while having positive (+) effects on job stress. Third, in all paths except for the path with effects of work-family conflict on job stress, there were no differences between the group of shops operating 365 days and the group of shops operating 5 days a week. It would be helpful to the effective operation of human resources by emphasizing the necessity of differentiated management for companies with shops operating 365 days and shops operating 5 days a week, as well as managing employees' job characteristic factors, work-family conflict, and even quality of life.