A. On October 2, 2018, the Defendant issued an electronic bill (hereinafter “instant bill”) to E, which is “the number D, and due date of maturity February 1, 2019, the par value of which is KRW 295,00,000,00” (hereinafter “instant bill”). Of these, E Co., Ltd. issued 64 million to F Co., Ltd., Ltd.; F Co., Ltd. to G; and G Co., Ltd. to the Plaintiff, respectively.

B. The Plaintiff presented a payment proposal within the period of presentment for payment, but was denied on February 1, 2019 for lack of deposit.

[Ground of recognition] Unsatisfy, Gap evidence Nos. 1, 2, and 3, the purport of the whole pleadings

2. Determination

A. According to the above facts, the Defendant, who is the issuer of the Promissory Notes, is obligated to pay to the Plaintiff damages for delay calculated from February 2, 2019 to February 21, 2019, which is the day following the maturity date of the Promissory Notes, with 6% per annum prescribed in the Bills of Exchange and Promissory Notes Act, and with 15% per annum from the next day to the day of full payment (12% per annum from May 31, 2019, and from the next day to the day of full payment) under the Act on Special Cases concerning the Promotion, etc. of Legal Proceedings (15% per annum from the next day to the day of full payment).

B. The defendant asserts to the effect that the bill of this case was issued under the condition that E was invested in the defendant, and that the above company illegally distributed the bill without fulfilling it.

A defense that there is a defect in declaration of intention, such as mistake and fraud, is merely a personal defense against the other party to the act of a bill. Thus, unless the holder has acquired the bill with the knowledge that it would prejudice the debtor, the debtor cannot set up against the holder a personal defense against the previous holder, even though the holder had knowledge of the fact by gross negligence.

(See Supreme Court Decision 70Da1293 delivered on July 28, 1970, Supreme Court Decision 95Da5603 delivered on March 22, 1996, Supreme Court Decision 96Da49513 delivered on May 16, 1997, etc.) and Bill Act.