A. On October 24, 2018, Defendant B Co., Ltd. (hereinafter “B”) issued to Defendant C Co., Ltd. (hereinafter “C”) an electronic bill (hereinafter “instant bill”) with its face value F, par value 300,000,000, and maturity 22, 2019.

B. On December 5, 2018, Defendant C endorsed to Defendant E Co., Ltd. (hereinafter “E”) as the primary endorsement of the instant bill, but at the time of endorsement, the term “non-security endorsement and non-endorse endorsement” was stipulated as an additional condition.

C. Defendant E endorsed to the Plaintiff as the second endorsement of the Promissory Notes.

The bill of this case was finally defaulted.

[Reasons for Recognition] Defendant B and E: Each entry in the evidence A1, 2, and 1 of the confessions C

2. Determination on the claim for the amount of a bill

A. According to the above facts, Defendant B is the drawer of the Promissory Notes, and Defendant E, as the endorser of the Promissory Notes, is obligated to pay the amount of the Promissory Notes to the Plaintiff, who is the lawful holder of the Promissory Notes.

B. However, in relation to the Plaintiff’s claim against Defendant C, the endorser may describe the words “not to be endorsed”, and if the endorsement is made, the endorser shall be liable only for his own direct endorsement and shall be liable for the latter, and shall not be liable for the latter as to the endorsee (the latter part of Articles 15(2) and 77(1)1 of the Bills of Exchange and Promissory Notes Act), and the fact that Defendant C endorsed endorsed “non-mortgaged endorsement and non-endorsed endorsement” on the bill of this case as an additional condition is recognized as above, and therefore, Defendant C shall not be liable for the damage of the Plaintiff as an endorser.

C. Therefore, Defendant B and E jointly share 300,000,000 won of the Promissory Notes and the following day following the due date for these bills, with 6% per annum prescribed by the Bills of Exchange and Promissory Notes Act from February 13, 2019 to March 6, 2020, and 12% per annum prescribed by the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings from the following day to the date of full payment.