Korean Law in English
Laws › Commercial Act › CHAPTER VII COMMISSION AGENCY

Commercial Act — Article 106 (Duty to Observe Designated Price)

상법 제106조

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) If a commission agent has sold goods, etc. at a lower price or bought them at a higher price than the price designated by his/her principal and the commission agent bears the difference, the sale or purchase shall be binding upon the principal.

(2) When a commission agent has sold goods, etc. at a higher price or bought them at a lower price than the price designated by his/her principal, the difference shall be deemed to be profits of the principal unless otherwise agreed by the parties.

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