• Title/Summary/Keyword: Consequential Loss

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A Study on the Scope of Claimable Loss for Damage: Focused on the CISG and the PICC (국제상거래에서 손해배상청구가 가능한 손해의 범위: CISG와 PICC를 중심으로)

  • Cho, Hyun-Sook
    • Korea Trade Review
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    • v.43 no.4
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    • pp.51-68
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    • 2018
  • This study examined the scope of damages resulting from types of loss under the CISG and the PICC(2016). The CISG and PICC stipulate the rights of aggrieved parties to recover losses under the full compensation principle, but the PICC features more specific provisions regarding damages compared to the CISG. Therefore the PICC might provide practical insight resolving problems concerning damages under the CISG. There are direct and incidental losses, consequential losses, lost profit, and loss of chance that can be claimed by aggrieved parties under the CISG or the PICC but the scope of claimable losses differs by cases. For example, even though there are no specific clauses in the CISG or the PICC, some losses might include based on the requisite of damage under CISG or PICC. Therefore, it is important to know standards in which losses are covered by these agreements. In conclusion, related parties who engage in international trade should understand the requisite and limitation of damages, and need to clearly define specific losses that might not be governed under the CISG or the PICC.

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A Comparative Analysis on the Methods of Quantifying Damages - Focused on the CISG - (손해배상액(損害賠償額) 산정방식(算定方式)에 관한 비교연구(比較硏究) - CISG를 중심으로 -)

  • Bae, Jun-Il
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.16
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    • pp.59-81
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    • 2001
  • There are two methods of quantifying the damages when the contract is avoided. One is 'concret' assessment, the other is 'abstract' assessment. The former looks to the actual cost incurred by the aggrieved party in concluding a contract for the substitute transaction, while the latter is based on the market price. The concrete method of assessment forms the starting point in the Civil Law systems. In the Common Law systems, it is likewise available. The aggrieved party is entitled to recover the difference between the cost of cover or (as the case may be) the proceeds of resale and the contract price. Both systems also recognize the abstract method of assessment. If the aggrieved party does not resell or cover, damages are equal to the difference between the price fixed by the contract and the market price. The CISG and the UNIDROIT Principles recognize expressly both concrete and abstract methods. Under the relevant articles, the aggrieved party can recover the damages assessed by one of the methods as well as any further damages such as loss of profit, incidental and consequential damages.

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Computation of Wave Resistance in the Water of Finite Depth Using a Panel Method (패널법을 이용한 유한수심에서의 조파저항 계산)

  • S.J. Lee
    • Journal of the Society of Naval Architects of Korea
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    • v.29 no.4
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    • pp.66-74
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    • 1992
  • A panel method in the spirit of Hess & Smith(1962), and also of Dawson(1977) was developed to compute the wave resistance of a submerged, or a surface piercing, body moving in the water of finite depth. As a boundary condition on the free surface what is called the Poisson equation is used, while Yasukawa(1989) chose the Dawson equation for which the double-body flow is regarded as the basic one. In order to satisfy the boundary condition on the bottom surface automatically, the sum of a Rankine source and its image with respect to the bottom surface is chosen as the Green function, and hence the singularity is distributed only on the body and on the free surface thereby decreasing the required number of panels dramatically, compared to that of Yasukawa, without the consequential loss of accuracy. Calculations were done for a submerged sphere and for the Wigley hull, and the results are compared with other existing analytical and numerical data.

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An Optimized V&V Methodology to Improve Quality for Safety-Critical Software of Nuclear Power Plant (원전 안전-필수 소프트웨어의 품질향상을 위한 최적화된 확인 및 검증 방안)

  • Koo, Seo-Ryong;Yoo, Yeong-Jae
    • Journal of the Korea Society for Simulation
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    • v.24 no.4
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    • pp.1-9
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    • 2015
  • As the use of software is more wider in the safety-critical nuclear fields, so study to improve safety and quality of the software has been actively carried out for more than the past decade. In the nuclear power plant, nuclear man-machine interface systems (MMIS) performs the function of the brain and neural networks of human and consists of fully digitalized equipments. Therefore, errors in the software for nuclear MMIS may occur an abnormal operation of nuclear power plant, can result in economic loss due to the consequential trip of the nuclear power plant. Verification and validation (V&V) is a software-engineering discipline that helps to build quality into software, and the nuclear industry has been defined by laws and regulations to implement and adhere to a through verification and validation activities along the software lifecycle. V&V is a collection of analysis and testing activities across the full lifecycle and complements the efforts of other quality-engineering functions. This study propose a methodology based on V&V activities and related tool-chain to improve quality for software in the nuclear power plant. The optimized methodology consists of a document evaluation, requirement traceability, source code review, and software testing. The proposed methodology has been applied and approved to the real MMIS project for Shin-Hanul units 1&2.