Where a shipowner has a claim concerning losses incurred due to the same accident against a creditor subject to limitation on liability, only the balance which has deducted such amount of claim shall be the claim subject to limitation on liability.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]
Laws › Commercial Act › SECTION 4 Limits on Liability of Shipowners, etc.
Commercial Act — Article 771 (Deduction of Opposing Claim Amount due to Same Accidents)
상법 제771조
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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