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Si Gyeongmin
Sep 05, 2021
It also makes sense to deviate from the general rules regarding the right to terminate contracts and sue for breach of contract. The broad right to terminate the agreement protects the transferor from the harm of agreements that they later consider to be unfavorable. At the same time, in the case of a breach of contract, the aggrieved transferor who is difficult to prove the extent of its loss can freely use specific forms of relief, such as deleting data, in order to restore it to the state before the contract was concluded. In terms of damages, the breach of contract for expected damages forces the breaching party to pay damages equal to the damages caused. In order to create an optimal incentive mechanism, it is necessary to give higher and more punitive damages.
Finally, the procedural rules governing the settlement of contract disputes can also encourage enforcement. The most obvious rules conducive to law enforcement are those that allow class actions, which allow multiple parties to share the cost of law enforcement.
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