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金元基 湖南大學校 1983 호남대학교 학술논문집 Vol.3 No.-
As the board of directors' system has been introduced into our Commercial Law, the management of Joint-stock company has greatly depended upon the ability anti integrity of the directors who are trustees of the company. Hence, Commercial Law requires them to do their duties with fidelity to the company and puts some restrictions on transctions between the company and its directors. For example directors shall be unable to do business with their companies without approval of the board of directors. But an important question in the subject is whether the legal act on bill and note is contained or not in the range of transactions imited. Former court decisions and popular views of scholars insisted upon that legal act on bill and note itself is only a means for settlement of the past. transact ices accordingly it can not be contained in the range of transactions 1imited. But we had better conclude luck a legal act on bill and note is to be approved by the board of directors as. it causes the parties concerned to do a clash of interest. Besides, in the effect of directors' transactions with companies violating some prohibitions, the above popular views of scholars that exempt the legal act on bill and not with the company from the range of transactions limited , the said act on bill and note without approval of directors' board always invalid. But it seems, in respect to the safety of dealings, to be reasonable that the said transaction violating some prohibitions holds the director responsible to the company for duty with fidslity and the third party in goods faith remaining in force.