A. On December 30, 2013, the Plaintiffs, as co-implementers of the Gangseo-gu Busan apartment construction project, concluded a sales contract with the Defendant for the total purchase price of KRW 271,80,00,000, down payment of KRW 27,180,000, the first (as of March 20, 2014), the second (as of March 20, 2014), the third (as of July 15, 2015), and the third (as of January 15, 2015), respectively (hereinafter “instant sales contract”).

B. On the date of the conclusion of the instant sales contract, the Plaintiffs and the Defendant paid KRW 3 million out of the down payment 27,180,000 on the date of concluding the sales contract, and the remainder down payment is treated as paid by the Plaintiffs on the date of concluding the contract, but the Defendant paid the remainder of the down payment in installments to the Plaintiffs on February 10, 3, 2014, and the Defendant paid KRW 13,590,000 on March 3, 2014. In the event the Defendant fails to pay the said installments within one month from the payment due date, the Plaintiffs may immediately cancel the instant sales contract without the peremptory notice, and in this case, the Defendant agreed to compensate for all the down payment 27,180,000 won, which is 10% of the parcelling-out price, as penalty (hereinafter “instant contract penalty”).

C. The Defendant did not pay the remainder down payment after February 3, 2014 and March 3, 2014, and the Plaintiffs sold the instant apartment to a third party.

[Ground of recognition] The entry of Gap evidence Nos. 1 through 3, the purport of the whole pleadings

2. Determination as to the cause of action

A. According to the above facts, the Plaintiffs may cancel the instant sales contract on the grounds of the Defendant’s failure to pay the remainder down payment. As such, the instant sales contract was lawfully rescinded on October 27, 2014, on which the duplicate of the instant complaint containing the intent of rescission was served on the Defendant.

Therefore, the defendant, barring special circumstances, deducted the amount of penalty of KRW 27,180,00 from the amount of penalty of KRW 27,180,000 which the defendant had already paid to the plaintiffs pursuant to the agreement of penalty of this case from the remaining 24,18