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A Study on the Obligee's Right of Revocation

  • Legal Theory & Practice Review
  • Abbr : LTPR
  • 2017, 5(1), pp.155-176
  • Publisher : The Korea Society for Legal Theory and Practice Inc.
  • Research Area : Social Science > Law

Jaeguck Kim 1 정문성 1

1서남대학교

Candidate

ABSTRACT

The primary purpose of Obligee's Right of Revocation system is to protect creditors from debtors'. Obligee's right of revocation has been surged since the IMF in 1997, and there have been many judgments on Obligee's Right of Revocation since then, but Obligee's Right of Revocation has been left to the case. Obligee's right of revocation has been surged since the IMF in 1997, and there have been many judgments on Obligee's Right of Revocation since then, but Obligee's Right of Revocation has been left to the case. Civil Law Article 407[Effect of Revocation by Obligee] states that "The action mentioned in the preceding paragraph shall be brought within one year from the time when the obligation becomes aware of the cause for revocation, or within five years from the time of the juristic Act was done. " Obligee's Right of Revocation is defined in Civil Law Article 406[Obligee's Right of Revocation], Article 407[Effect of Revocation by Obligee], but in Germany, in the special law, Switzerland stipulates the bankruptcy law. It is regrettable that the present Civil Law does not address the requirements for the establishment of the acts of annihilation, the effect of cancellation. The case law also limits the scope of creditors to general creditors, and it seems that the problem is that certain creditors with liquidation rights are excluded from the scope of creditors

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