• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.49
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• pp.139-164
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• 2011

Traditionally courts have been adopted over the years two standards of dealing with compliance of documents such as strict compliance and substantial compliance and the substantial compliance, which was somewhat less demanding than the strict compliance. However the new guidelines of ICC's international standard banking practice for the examination of documents under documentary credits set up how the UCP is to be applied in practice. The payment obligations of an issuing bank to a beneficiary are independence of the performance or the nonperformance of any contract underlying the letter of credit. However, strictly applying the principle of independence and abstraction could produce unfair results by operating unjustly enrich an unscrupulous beneficiary in case of fraud. Accordingly, when a beneficiary presents complying documents, the issuing bank is bound to honour the presentation unless the fraud rule applies on the facts of the case such as forged or material fraud. If it does, the issuing bank(issuer) needs not pay despite the complying presentation of documents by the beneficiary under the Uniform Commercial Code Article 5-109 and case law in America. However the fraud rule was not addressed in UCP 600. In conclusion, view in terms of legal principle and the court cases is variable and difficult to honour or dishonour the presentation in case of application of the independence principle and fraud rule such as the problems on burden of proof timely, possibility of granting injunction in order to protect against victim for bona fide applicant.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.193-207
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• 2024

Purpose - With the increase of non-face-to-face activities due to the spread of COVID-19, O2O industry has grown rapidly which reduces contact points between suppliers and consumers. O2O platform is now recognized as an indispensable channel of distribution, but the voice is getting louder that it is necessary to check how it contributes to the performance of suppliers or how its fee system or contract terms affects the expansion of O2O industry as the leading companies tend to monopolize the market. Design/methodology/approach - In this study, the scope was limited to the restaurant industry in which transactions are the most active among the O2O industry and a regression analysis was done on 775 businesses that had used guarantor service from the Seoul Credit Guarantee Foundation. Findings - Analysis on the impact of O2O platform system, information, and service quality on the business performance of the sole proprietors revealed that the system quality represented by ease of use and the information quality determined by level of timely, accurate and reliable information provided to the consumers have a statistically significant effect on the improvement of business performance. In addition, the effect of business performance on the loyalty measured by the likelihood of users continuing to use the service as well as recommending it to others was moderated by the satisfaction with contract terms, not by the fee system. Research implications or Originality - Although the number of O2O platform providers has increased manyfold, the membership rate is no more than 20%, which means that the small business owners are still struggling with digital transformation. In order for the O2O industry, which is now commonplace, to form a healthy ecosystem that satisfies both suppliers and consumers, the standard contract guidelines that are acceptable to both parties must be established and the O2O providers must offer services that help suppliers to improve performance.

• Korean Journal of Human Ecology
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• v.18 no.5
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• pp.1155-1168
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• 2009

The purpose of this research is to investigate the realities and problem cases that occurred in the establishment and management of elderly housing facility in order to suggest the recommendations that help to improve the problem cases. For this purpose, 21 elderly housing facilities, which were established between 1996 and 2008 in Korea, were investigated with a documentary research method in terms of founders, managers, locations, the number of housing units, how to move-in. Also the problem cases that occurred in the establishment and management of 21 elderly housing facilities were investigated. The results were as followings. 1. Main founders and managers of 21 elderly housing facilities were the special companies for elderly housing, building companies, and social welfare corporation. Changes in the founders and managers were caused by financial problems; More than half of 21 elderly housing facilities were located in Seoul and near area; About a half of 21 elderly housing facilities had 100~200 housing units; An individual unit of elderly housing facilities can be rented or purchased, rented only, and purchased only. 2. The problems in the establishment and management of elderly housing facilities were non-return of deposit money, illegal sale of housing units, non-public registration of elderly housing facility, false advertisement, and unfair contract. 3. The problems in the establishment and management were mainly caused by the weakness in the regal and administration system for elderly housing and the illegal acts of founders and managers.

• The Korean Journal of Franchise Management
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• v.13 no.4
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• pp.23-37
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• 2022

Purpose: The Korean franchise market has undergone drastic growth in recent years. Followed by expansion of franchise business types, relevant legal matters have diversified. Compared to conventional economic laws that focused on resolving problems related to unfair transactions between franchisors and franchisees, more diverse labor laws have emerged recently due to governance and economic dependencies of franchise structure. However, it was found that the business environment of franchisees and working conditions of franchisee employees have not changed accordingly due to the unique structure of franchise business. Though franchisees are entrepreneurs independent from franchisors, they are still under franchising contract with the franchisors. For instance, employees of franchisees have been exposed to malpractices in regard to pay, time, and other working conditions. These malpractices may show the ineffectiveness of current labor laws. Labor management is an important issue for sustainability of franchise businesses. Negative publicity of franchises generated from violating relevant labor laws may have significant negative impact on overall image of franchised brands. However, franchisors should not hold franchisees fully responsible for legal violations in terms of labor management but strive to prevent relevant risks. Thus, the recent amendment in labor law related to increased minimum wage and reduced worktime have called for more attention to effectively implementing the law. Research design, data, and methodology: This study was conducted through a review of franchise-related laws and various institutions and policies. Results: It is further needed for all parties, including franchisors, franchisees, and franchisee employees, to take collaborative actions to improve working conditions of franchisees. Therefore, this study aims to propose appropriate and effective response plans toward recent changes in the Minimum Wage Act, while strengthening sustainability of franchisors, franchisees, and their employees. Conclusions: The proposal mainly contains plans regarding profit-related aids and profit sharing/cost reduction strategies for franchisees, as well as collective bargaining in the franchisor-franchisee relation. More detailed suggestions are included. Conclusions: This proposal may help franchisors and policymakers develop business plans and policies in improving business conditions of franchisees and working conditions of franchisee employees.