The Subrogation between The Guarantor of Secured Mortgage and Third Party Purchaser

KJC Korea
Journal Central

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pISSN : 2092-769X / eISSN : 2733-6948

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The Subrogation between The Guarantor of Secured Mortgage and Third Party Purchaser

¹대구가톨릭대학교

ABSTRACT
열림/닫힘 버튼

COMMERCIAL ACT Article 724 (Relations between Insurers and Third Parties) (1) No insurer shall pay the insured amount, in whole or in part, to the insured before a third party has been indemnified for losses caused by an accident attributable to the insured. (2) A third party may directly request an insurer to compensate for losses caused by an accident attributable to the insured, within the limit of the insured amount: Provided, That an insurer may assert against the third party with a defense which the insured has in connection with the accident. When an applicable law is discussed on the Supreme Court decision, the claim for payment of insurance money of insured person can be recognized by applicable law of an insurance contract. Thus the legal character of right that a third party may directly request an insurer is come across as right to claim insurance money. A direct claim for payment of third party is construed as subject of applicable law on insurance contract.
KEYWORDS
열림/닫힘 버튼

insurer, liability insurance, insurance contract, takeover of obligation, applicable law

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