A. On September 4, 2018, the Plaintiff and the Defendant drafted a letter of payment for KRW 500 million (hereinafter “instant letter of payment”) with the same content as the attached Form, as the case did.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 through 4, Eul evidence Nos. 1 to 3 and images, and the result of the commission of document forwarding to the Jink District Prosecutors' Office in this Court, the purport of the whole pleadings

B. Determination 1) According to the above facts and Paragraph 1 of the letter of payment in this case as to KRW 200 million, the defendant may recognize the fact that when the sale rate of C general industrial complex reaches 50%, or when the sale rate of C general industrial complex reaches 50 million or becomes September 30, 2019, the defendant would pay KRW 200 million out of the total amount of KRW 500 million agreed upon to the plaintiff by setting the first fulfillment condition or due deadline. Since it is apparent that the final deadline of September 30, 2019 already arrived, the defendant is obligated to pay KRW 20 million and its delay damages agreed upon in the letter of payment in this case to the plaintiff, barring any special circumstance. 2) According to the above facts and Paragraph 2 of the letter of payment in this case, the plaintiff has the right of choice among monetary claims of KRW 300 million with the expiration date of construction works in C general industrial complex or all buildings within the industrial complex that will begin.

On the other hand, in the absence of any provision or agreement of the parties with respect to selective bonds, the right of choice is a debtor (Article 380 of the Civil Code), and in the event that the period for exercising the right of choice is not determined, the right of choice is transferred to the other party even if the other party does not choose it within the reasonable period after the due date of the claim comes into existence (Article 381(2) of the Civil Code).