Article 651-2 of Commercial Act: Effects of Questions in Writing
Article 651-2 (Effects of Questions in Writing) Any fact about which the insurer asks in writing shall be presumed to be material. THE High-quality & Good Contents
Hello, I'm Yong Soo Lim, Attorney at Law.
Hello, I'm Yong Soo Lim, Attorney at Law.
Today is my first day to post on my blog.
Here, I'd like to introduce you to 'PART Ⅵ INSURANCE' of Commercial Act that defines the insurance law in Republic of Korea. I'll also add some legal interpretations. Yong Soo Lim, Attorney at Law shall bear no legal responsibility for accuracy of such translation and interpretation, and in case of any divergence of translation and interpretation of Korean and English languages, the Korean text shall prevail.
I look forward to your support and encouragement in the future.
Thank you very much.
THE High-quality & good contents
Today is my first day to post on my blog.
Here, I'd like to introduce you to 'PART Ⅵ INSURANCE' of Commercial Act that defines the insurance law in Republic of Korea. I'll also add some legal interpretations. Yong Soo Lim, Attorney at Law shall bear no legal responsibility for accuracy of such translation and interpretation, and in case of any divergence of translation and interpretation of Korean and English languages, the Korean text shall prevail.
I look forward to your support and encouragement in the future.
Thank you very much.
THE High-quality & good contents
Popular posts from this blog
Article 651-2 of Commercial Act: Effects of Questions in Writing
Article 651-2 (Effects of Questions in Writing) Any fact about which the insurer asks in writing shall be presumed to be material. THE High-quality & Good Contents
Article 651 of Commercial Act: Termination of Contracts due to Breach of Duty of Disclosure
Article 651 (Termination of Contracts due to Breach of Duty of Disclosure) If, at the time of making an insurance contract, a policyholder or the insured, due to bad faith or gross negligence, failed to disclose or misrepresented material facts, the insurer may terminate the contract within one month after it becomes aware of the non-disclosure or misrepresentation or within three years after the contract was made: Provided , That this shall not apply where at the time of making the insurance contract the insurer knew the non-disclosure or misrepresentation or failed to do so due to gross negligence. THE High-quality & Good Contents
Article 648 of Commercial Act: Requests for Return of Premiums upon Nullification of Insurance Contracts
Article 648 (Requests for Return of Premiums upon Nullification of Insurance Contracts) Where an insurance contract becomes invalid in whole or in part, if a policyholder and the insured have acted in good faith and without gross negligence, they can demand a return of the insurance premium, in whole or in part. The same shall also apply where the policyholder and the beneficiary have acted in good faith and without gross negligence. THE High-quality & Good Contents
Comments
Post a Comment