• Korea Trade Review
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• v.44 no.2
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• pp.83-94
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• 2019

Article 17 of the Marine Insurance Act (MIA) states that "A contract of marine insurance is a contract based upon the utmost good faith, and if the utmost good faith be not observed by either party, the contract may be avoided by the other party." In the Carter v. Boehm case, Lord Mansfield was the first to provide a comprehensive description of the duty of utmost good faith, which is analyzed here. This judgement not only laid the foundation for the Modern English Insurance Act, but it also influenced the draft of the English Insurance Act of 2015, which aimed at correcting distortions that occurred during the application of statue law and common law thereafter. The duty of utmost good faith, applied between Lord Mansfield's insured and insurer presents the context of information asymmetry of the insured and insurer entering contracts. In the absence of information asymmetry, in contrast to the effects of being in both sides of the duty of utmost good faith, alleviating the duty of disclosure of the insured, and it is also clear that the warning of the severity of the retrospective avoidance of the breach of duty of disclosure and the need for its limited application have already been pointed out. Furthermore, considering the principle of retrospective avoidance, the duty of utmost good faith should be understood as a concept limited to the duty of disclosure before a contract is concluded

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.76
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• pp.125-145
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• 2017

Where an insurer has unreasonably refused to pay a claim or paid it after unreasonably delay, the existing law in England does not provide a remedy for the insured. Accordingly, the insured is not entitled to damages for any loss suffered as a result of the insurer's unreasonable delay. This legal position differs from the law in Scotland and most major common law jurisdictions. LC thought that the legal position in England is anomalous and out of step with general contractual principles. LC considered that a policyholder should have a remedy where an insurer has acted unreasonably in delaying or refusing payment of claim, and, therefore, recommended a statutory implied term in every insurance that the insurer will pay sums due within a reasonable time and breach of that term should give rise to contractual remedies, including damages. More detailed recommendations of LC are as followings. First, it should be an implied term of every insurance contract that, where an insured makes a claim under the contract, the insurer must pay sums due within a reasonable time. Secondly, a reasonable time should always include a reasonable time for investigating and assessing a claim. Although a reasonable time will depend on all the relevant circumstances, for example, the following things may need to be taken into account, that is, (1) the type of insurance, (2) the size and complexity of the claim, (3) compliance with any relevant statutory rules or guidance, and (4) factors outside the insurer's control. Thirdly, if the insurer can show that it had reasonable grounds for disputing the claim(whether as to pay or not, or the amount payable), the insurer does not breach the obligation to pay within a reasonable time merely by failing to pay the claim while the dispute is continuing. In those circumstances, the conduct of the insurer in handling the dispute may be a relevant factor in deciding whether the obligation was breached and, if so, when. Fourthly, Normal contractual remedies for breach of contract should be available for breach of the implied term to pay sums due within a reasonable time. Finally, In non-consumer insurance contracts, the insurer should be permitted to exclude or limit its liability for breach of the obligation to pay sums due within a reasonable time, unless such breach was deliberate or reckless, and such an insurer's right to contract out will be subject to satisfying the transparency requirements.

• Journal of the Korea Convergence Society
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• v.9 no.10
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• pp.45-53
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• 2018

Recently, studies about bilingual word embedding have been gaining much attention. However, bilingual word embedding with Korean is not actively pursued due to the difficulty in obtaining a sizable, high quality corpus. Local embeddings that can be applied to specific domains are relatively rare. Additionally, multi-word vocabulary is problematic due to the lack of one-to-one word-level correspondence in translation pairs. In this paper, we crawl 868,163 paragraphs from a Korean-English law corpus and propose three mapping strategies for word embedding. These strategies address the aforementioned issues including multi-word translation and improve translation pair quality on paragraph-aligned data. We demonstrate a twofold increase in translation pair quality compared to the global bilingual word embedding baseline.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.53
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• pp.181-206
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• 2012

The straight bill of lading is regarded as the documents of title except in American law after The Rafaela S case. The Carewins case also decided that the exclusion clause of bill of lading did not exempt carriers from liability when the carriers delivered the cargo to the consignee without the production of original bill of lading. And the court said that the carrier was responsible for delivering the goods against a forged bill of lading regardless of exemption clause of bill of lading in the Motis case. It may be assumed through these cases that the straight bill of lading as a document of title gives documentary security to the banks in trade finance. However, there can be some downside to the efficacy of the straight bill of lading as collateral. First, when it is subject to the English law, the shipper can arbitrarily change the consignee different from the one named in the document. Second, some bills of lading bear provisions relating to the carrier delivering the goods upon reasonable proof of identity without the surrender of an original and/or genuine bill of lading.

• Korean Journal of Artificial Intelligence
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• v.2 no.1
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• pp.1-3
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• 2014

These days, interest and demand on smart learning has rapidly increased. Video English and mobile system based English speaking service have become popular. This study gave prototype of application to give and take voice message with world people and to give new concept of voice pen-pal beyond exchange of text messages. In modern society having rapidly increasing demand on smart learning, you can study foreign language by smart phone and communicate with foreigners by voice anytime and anywhere. The app allows global exchange to learn conversation. Recruitment of initial users and profit model have problems. We shall develop to improve problems and to solve difficulty.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• v.2
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• pp.27-30
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• 2006

해상보험계약에서는 실무상 영국법 준거약관을 포함하고 있는 영국의 해상보험증권 및 협회약관을 사용하고 있으며, 이에 따라 관련문제가 발생하면 영국법 및 우리나라 법이 적용되게 된다. 이 경우 영국법은 외국법법률설에 따라 영국법도 법률이므로 법원은 직권으로 영국법을 조사하여 적용하여야 한다. 영국법이 적용되는 경우 영국법상 법률개념을 어떻게 이해하고 확정하여야 할 것인지가 문제가 되며, 따라서 그러한 법률개념은 영국에서 이루어졌던 논의 및 영국법 질서 전체와 관련하여 해석하고 확정되어야 한다.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.42
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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.

• 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.

• International Commerce and Information Review
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• v.8 no.4
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• pp.147-156
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• 2006

In all cargo cases one of the first things the person handling the claim must do is decide who is potentially liable as a carrier of the goods. This issue arises because bills of lading often do not identify the carrier. The "carrier" could be the shipowner or the charterer or both. The issue of the identity of the "carrier" is a question of fact. The question to ask in each case is who undertook or agreed to carry and deliver the goods. The answer to this question will largely depend on the facts. The shipowner is almost always liable as a carrier under Common law provided there is no demise charter of the ship. The more recent case law, however, suggests that in the usual situation both the charterer and shipowner will be liable. Accordingly, both the owner and charterer should be put on notice of any claim and, in the event an extension of suit time is required, the extension should be obtained from both. An alternative method by which the charterer can avoid liability is to insert and 'Identity of Carrier' clause in the bill of lading.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.59
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• pp.81-112
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• 2013

This article intends to examine main features of revision in relation to the duration of cover in the Institute Cargo Clauses 2009 and the results of analysis are as followings. First, the cover, which had been "warehouse to warehouse", has been extended to what may be called "shelf to unloading". Thus the insurance attaches when the goods are first moved within the warehouse or place of storage at the named place for the purpose of immediate loading for the commencement of transit. Secondly, the new termination Clause 8.1.3 requires an election by the assured, or their employees, to use a vehicle or container, for storage other than in the ordinary course of transit. Thirdly, Clause 10.1, which deals with the assured's voluntary change of voyage, was amended to solve the problem that the words "held covered" could be misunderstood by an assured without specialist knowledge of English marine insurance law to be a guarantee of cover, even where cover would not be commercially available. Finally, Clause 10.2 is designed to solve the so-called "phantom ship problem", arising from the harsh decision in The Prestrioka. The new Clause 10.2 provides protection for an innocent assured in the situation of a phantom ship.