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A Legal Review about the Security of New Types of Gift Certifications

Jung, Youn-Hee 1

1경희대학교 경희법학연구소

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ABSTRACT

Since the ‘Gift Certificate Act’ was abolished in 1999, there is no law for regulating the issuance and endorsement of gift certificates. Gift certificates are indirectly regulated by the standard terms. The new type gift certificates are also controled by the New Type Voucher Standardized Agreement, 2015. Depending on the type of gift voucher, they are subject to different standard terms and conditions, appropriateness and equity between paper gift certificates and new type gift certificates. It is necessary to examine whether the new type of gift certificate is neglecting the special structure and emphasizing the legal equality with the gift certificate that already have a long standing legal social practice, The purpose of this paper is to discuss the basic characteristics of the securities of the gift type of gift certificates. The new type of gift certificates started with the electronicization of gift certificates. They have been changed to an electronic card or an electronic document, but can be considered to have the same value as the paper in terms of the role and function of the gift certificates. In order to view the new type of gift certificates as the securities, there should be no problem in the legal nature of the paper type gift certificate. However the paper gift certificates without a legal basis for issuance cannot be regarded as a security according to securities legalism. With no legal basis for the issuance of the paper gift certificates, it is difficult to view new type vouchers as legal securities.

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* References for papers published after 2023 are currently being built.

This paper was written with support from the National Research Foundation of Korea.
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