An account current becomes effective when, in cases where there are regular transactions between merchants or a merchant and a non-merchant, they agree to offset the total claims and obligations arising out of transactions within a fixed period and to pay the balance thereof.
Laws › Commercial Act › CHAPTER III ACCOUNT CURRENT
Commercial Act — Article 72 (Definition)
상법 제72조
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.
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