Even though an agreement is made to the effect that if the buyer fails to pay the price by the due date for the payment of the remainder, the contract shall be automatically rescinded, the intention and the fact of the agreement alone cannot be deemed automatically rescinded unless the seller offers performance and places the buyer at delay of performance. However, if there are special circumstances under which the buyer promises to perform the contract by the due date and agrees to accept the contract automatically if the buyer fails to pay the balance by the due date for the payment of the remainder, the contract shall automatically become effective (see, e.g., Supreme Court Decisions 94Da8600, Sept. 9, 1994; 91Da32022, Oct. 27, 1992).

Upon examining the reasoning of the judgment below in light of the records, the court below acknowledged the fact that the plaintiff and the defendant agreed to invalidate the sales contract in the event that the sales contract for the real estate of this case did not pay any balance on May 6, 1994 at the end of the plaintiff's non-performance of obligation over several occasions, the buyer, and the plaintiff did not pay the balance on May 21, 1994. The decision of the court below that judged that the sales contract of this case was automatically invalidated due to the plaintiff's failure to pay the balance by the above deadline is just and there is no error of law of misunderstanding of facts or misunderstanding of legal principles like the theory of lawsuit. In addition, the

Therefore, the appeal is dismissed and all costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Chocheon-sung (Presiding Justice)