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@article{ART002446467},
author={Oh Su-won},
title={Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -},
journal={Legal Theory & Practice Review},
issn={2288-1840},
year={2019},
volume={7},
number={1},
pages={241-285}

TY - JOUR
AU - Oh Su-won
TI - Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -
JO - Legal Theory & Practice Review
PY - 2019
VL - 7
IS - 1
PB - The Korea Society for Legal Theory and Practice Inc.
SP - 241
EP - 285
SN - 2288-1840
AB - Article 406 of the Korean Civil Code stipulates that the obligee may apply to the court for the revocation of a fraudulous act and restitution of its original status, an d Article 407 stipulates that the revocation and restitution of its original status shall take effect for the benefit of all obligees. On the one hand Article 218 of the Korean Civil Procedure Code stipulates that a final and conclusive judgment shall be binding on the parties, successors subsequent to a closure of pleadings, or persons possessing the object of claims on their behalf, and another person in case of a judgment rendered to the person, who became a plaintiff or defendant for another person. By the way the provision of Article 407 means that the money or property retrieved from the beneficiary will be the general property of the obligor on which all obligees will be enforceable. because originally the obligee's right of revocation is to cover the obligor's general property .For example, if a property, sold for a fraudulous act, of which the ownership rights have been transferred to the beneficiary is restored under the obligor's name because of a judgement on the basis of the obligee's right of revocation, by the obligees' application for auction, the property will be confiscated, sold and distributed. But many authors believe that, in the case of a value recompense, an obligee exercising the right of revocation could request to pay the money to him and he could be paid directly, and that other obligees are not allowed to exercise their rights. There is no argument on that point that the obligee's right of revocation is regarded as a means of preserving the general property and preparing for enforcement, Boissonade, which laid the foundation of the Japanese Civil Code, on the effect of obligee's right of revocation, drafted the Japanese Civil Code in accordance with the French theory of absolute effectiveness, and the Japanese Civil Code Article 425 took over. Article 407 of the Civil Code stipulated the legal effect in the material law called Civil Code, apart from the subjective extent of Res Judicata in the civil procedure code. Therefore, all obligees in the Article 407 of the Civil Code in which the revocation and restitution of its original status shall take effect for the benefit of all obligees in the Article 407 of the Civil Code, should be considered to be all obligees, including all current and future obligees and beneficiaries. Because the right of revocation is not an execution in itself, the value recompense should be performed, if the obligor cannot perform the obligation in original. With the revocation of a fraudulous act, the compulsory execution for payment can be enforced in such a state. Then the beneficiary assuming a monetary obligation to the obligor, so as a compulsory execution procedure, can enforce the obligor's right to forfeit and transfer bonds to the beneficiary's obligor. The judgement of the obligee's revocation right shall be based on the general principle of forced enforcement, and in other cases the revocation obligee will be subject to a priority change if it is foreclosed and given full orders. If another obligee is to prevent a default on the revocation obligee, the beneficiary should press the obligor's future bond to return to the obligor as a remedy. The beneficiary's future bond must be pressurized to return to the obligor as a means of commercial reparation in order to prevent the priority of one of the revocation obligees. When one of the revocation obligees requests payment to a obligor against beneficiary, the beneficiary's future bond must be pressurized to return to the obligor as a normal remedy in order to prevent the former revocation obligee's priority from satisfying his the obligor. If a revocation obligee claims directly to the beneficiary for a fraudulus act, other cobligees can make a claim for the same reason, and the other obligees have no choice but to press in order to prevent a revocation obligee from fulfilling its priority. Finally, in the event that foreclosures or deposits are competing because of a number of cancelled revocation obligee and beneficiary, the beneficiary must deposit the value, which is proportionally distributed.
KW - obligee's right of revocation;fraudulous act;restitution of original status;value recompense;effect of a judgment;third beneficiary.
DO -
UR -
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Oh Su-won. (2019). Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -. Legal Theory & Practice Review, 7(1), 241-285.

Oh Su-won. 2019, "Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -", Legal Theory & Practice Review, vol.7, no.1 pp.241-285.

Oh Su-won "Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -" Legal Theory & Practice Review 7.1 pp.241-285 (2019) : 241.

Oh Su-won. Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -. 2019; 7(1), 241-285.

Oh Su-won. "Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -" Legal Theory & Practice Review 7, no.1 (2019) : 241-285.

Oh Su-won. Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -. Legal Theory & Practice Review, 7(1), 241-285.

Oh Su-won. Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -. Legal Theory & Practice Review. 2019; 7(1) 241-285.

Oh Su-won. Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -. 2019; 7(1), 241-285.

Oh Su-won. "Scope of Effect in Exercise of Obligee's Right of Revocation and Other Obligee's Way to Exercise his Right - with an Emphasis on Value Recompense -" Legal Theory & Practice Review 7, no.1 (2019) : 241-285.