Wonyol Jon, Suggestions for Improvements in Assumption of Obligation, The Journal of Comparative Private Law, Vol. 27, No. 3 (2020), pp. 173-212.
<Abstract>
Demands for proper stipulation in area of assumption of obligation have been increasing for decades. However, provisions in Korean Civil Code thereof remains the same, ruling only for complete substitution of debtors except for addition of debtors. Recent amendments in civil code of some countries, such as Japan and France, make us revisit the issue. When we depart from doctrines of conceptualism, we may be able to grasp the essence in assumption of obligation, setting addition of debtors in place of prototype. We should generously categorize the consent of creditor in case an assumption of obligation is interpreted as a contract for a third party. We should also make sure that the assumption of obligation may not be used as a detour method for avoiding guarantor protection. In addition to above, this article is dealing with several other issues in the area of assumption of obligation, which needs careful examination when Korea is to amend current provisions in the Korean Civil Code.
<Keywords>
Assumption of Obligation, Substitution of Debtors, Addition of Debtors, Conceptual Counterpart, Guarantor Protection, Consent of Creditor
Wonyol Jon, Suggestions for Improvements in Assumption of Obligation, The Journal of Comparative Private Law, Vol. 27, No. 3 (2020), pp. 173-212.
<Abstract>
Demands for proper stipulation in area of assumption of obligation have been increasing for decades. However, provisions in Korean Civil Code thereof remains the same, ruling only for complete substitution of debtors except for addition of debtors. Recent amendments in civil code of some countries, such as Japan and France, make us revisit the issue. When we depart from doctrines of conceptualism, we may be able to grasp the essence in assumption of obligation, setting addition of debtors in place of prototype. We should generously categorize the consent of creditor in case an assumption of obligation is interpreted as a contract for a third party. We should also make sure that the assumption of obligation may not be used as a detour method for avoiding guarantor protection. In addition to above, this article is dealing with several other issues in the area of assumption of obligation, which needs careful examination when Korea is to amend current provisions in the Korean Civil Code.
<Keywords>
Assumption of Obligation, Substitution of Debtors, Addition of Debtors, Conceptual Counterpart, Guarantor Protection, Consent of Creditor