• Korea Trade Review
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• v.45 no.5
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• pp.279-301
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• 2020

In the absence of any guidance under statutory law, such as the Rules for Construction of Policy, MIA 1906, judges should follow the general principles of interpretation that apply to all contracts. In simple terms, Contra Proferentem Rule means that if the contents of the terms and conditions are ambiguous, they are interpreted against the writer of the terms and conditions. In the Anglo-American Contract Law, the 'default rule' is an important judicial tool that can supplement defects in contract norms and reinforce the principle of private autonomy through gap-filling techniques related to the interpretation of contracts. In Korea, it is sometimes mentioned in case of precedent, and it has been established as a clear rule. This study analyzes the interpretation of terms and conditions is not in the form that the interpretation of other general contracts and other interpretation principles are valid, but contracts based on terms and conditions are also contracts, and as a general rule, the interpretation of terms and conditions is explained like the general contract interpretation.

• Journal of Korea Port Economic Association
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• v.25 no.1
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• pp.169-190
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• 2009

In order to establish whether any charterparty terms are incorporated into the bill of lading, the first necessity is to specify the charterparty alluded to the incorporation clause in the bill of lading. However, this becomes a potential problem where the date of a charterparty is not inserted on the face of the bill of lading in case a vessel is in operation under a number of charterparties. Over many years this issue has frequently been raised before the English courts, but it is still causing problems. The purpose of this study is to examines the several English authorities which dealt with the issue relating to the specification of charterparty incorporated into the bill of lading and to present some interpretation rules and the order of priority. As a result, the comparative analysis of English authorities shows that they failed to give dear guidance on this issue. This article therefore suggests four interpretation rules such as the precedence of a B/L's face, the rule of appositeness, surrounding circumstances, the contra proferentem rule and shows that the precedence of a B/L's face is most applicable for all parties.

• Journal of Korea Trade
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• v.24 no.1
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• pp.113-130
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• 2020

Purpose - This paper examines the legal standards for the interpretation of contract terms in the UNIDROIT Principles of International Commercial Contracts (PICC) and the cases thereunder in order to provide academic implication to promoting an appropriate understanding of this topic in practical business. Design/methodology - This article uses the literature research and case study under the PICC. Findings - the contract terms shall be interpreted according to the common intention of the parties. If such an intention cannot be established, the contract shall be interpreted according to the meaning that reasonable persons of the same kind as the parties would give to it in the same circumstances. The statements and other conduct of a party shall be interpreted according to that party's intention if the other party knew or could not have been unaware of that intention. If not, the reasonable person standard will apply. In applying above articles, all relevant circumstances including the conduct of the parties, practices and usages shall be considered. Terms and expressions shall be interpreted in the light of the whole contract or statement in which they appear and contract terms shall be interpreted so as to give effect to all the terms rather than to deprive some of them of effect. Where contract terms supplied by one party are unclear, contra proferentem rule applies. Where there is discrepancy between several equally authoritative versions of a contract, a preference is given to the interpretation according to the version originally drawn up. Where the parties to a contract have not agreed regarding an important term for their rights and duties, a term which is appropriate in the circumstances shall be supplied. Originality/value - This article examines various cases regarding the topic that were determined under the PICC. By finding legal standards and rulings of relevant cases, this article will help readers in practical business to enhance the ability to apply the provisions to their contracts.