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Laws › Civil Act › CHAPTER IX MORTGAGE

Civil Act — Article 357 (Floating sum mortgage)

민법 제357조

(1) A mortgage can be created by settling only the maximum amount of the debt to be secured and reserving the determination of the debt in the future. In such case the extinction or transfer of the debt which occurred before the debt is determined cannot be effective against the mortgage.

(2) In the case of the preceding paragraph the interest of the debt shall be considered to be included in the maximum amount of the debt.

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