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| TITLE | 【Syllabus of Latest Opinion】 Supreme Court Decision 2019Da256501 Decided July 25, 2024 【Indemnity Amount】 [full Text] |
|---|---|
| Summary | |
| 【Main Issues and Holdings】 [1] Applicable law of a legal relationship surrounding whether the insurer pays insurance proceeds to the insured and acquires the right of the insured against a third party under a contract of insurance with a foreign element (held: law applicable to a contract of insurance) [2] Method of confirming the details of a foreign law applicable to a legal relationship with a foreign element and interpreting the meaning thereof [3] Meaning and scope of the subrogation of the insurer in accordance with the UK Marine Insurance Act 1906 and the meaning of the phrase “the insurer is subrogated to all the rights and remedies of the insured related to the objective of the insurance” as referred to herein Method of the insurer being subrogated to the rights of the insured including a right to claim damages, etc. against a third party through a lawsuit under the UK Marine Insurance Act 1906 [4] Requirements for the assignment of the claim-based right to be valid under the UK Law of Property Act 1925 and requirements for equitable assignment under the UK Law of Equity and the standard of judgment thereon [5] In a case where Stock Company A concluded an insurance contract of marine cargo, which deems Insurance Company C and the insured as Stock Company A and the Institute Cargo Clauses A, etc. as the terms and conditions of the contract, after requesting the transportation of a cargo to Stock Company B in the process of importing a generator, etc. from a foreign company located in the United States, and when Stock Company D verified that a cargo delivered to Stock Company A was damaged by physical impact while transporting the cargo into the Republic of Korea after receiving a commission from a partner company of Stock Company B located in the United States, and Insurance Company C, which received the Letter of Subrogation after paying insurance proceeds to Stock Company A, exercised the right of Stock Company A to claim damages against Stock Company B, the case holding that a legal relationship surrounding whether Insurance Company C pays insurance proceeds to Stock Company A and acquires the right of Stock Company A to claim damages against Stock Company B should follow UK law, which is the law applicable to an insurance contract of marine cargo, and, according to the legal principles of the Marine Insurance Act 1906, even if Insurance Company C pays insurance proceeds to Stock Company A, the right of Stock Company A to claim damages against Stock Company B cannot be seen to be transferred to Insurance Company C, and viewing that requirements for the assignment of the claim-based rights stipulated in Article 136(1) of the UK Law of Property Act 1925 or requirements for equitable assignment stipulated in the UK Law of Equity are satisfied on the sole basis of the details included in the above Letter of Subrogation is difficult, and thus Insurance Company C cannot exercise the right of Stock Company A to claim damages against Stock Company B | |
