General
Amendment to the Civil Code Will Come Into Effect in April
On April 1, 2020, the Act to Partially Amend the Civil Code
("Amendment") will come into effect, with some
exceptions. The Amendment will fundamentally change the provisions
dealing with the law of obligations (including law of contracts)
for the first time in about 120 years since the Civil Code was
enacted in 1896. The Amendment is expected to have a significant
impact on corporate practice in drafting and negotiating contracts.
For further details regarding the Amendment, please see the
May 2017 issue of this Newsletter.
In principle, the Amendment will apply to contracts that are
executed on or after the effective date of April 1, 2020 (Article
34, Paragraph 1 of Appendix to the Amendment). Given that the
effective date is fast approaching, it will be necessary for
companies to consider on a timely basis whether the Amendment
affects contracts which are currently under negotiation and will
