Main Issues

Termination of pledge rights to term deposit claims of designated banks

Summary of Judgment

When a pledge for a nominative claim has been extinguished, the pledgee shall receive the return of the certificate from the pledgee and if the obligor for the pledge intends to satisfy the requirements for setting up against him, it shall be sufficient for the garnishee to declare that the pledge has been extinguished.

[Reference Provisions]

Article 342 of the Civil Act

Plaintiff-Appellee

Kim Doll

Defendant-Appellant

Korea

Judgment of the lower court

Incheon support in the first instance court, Seoul High Court Decision 58 civilian 265 delivered on December 24, 1958

Reasons

According to the judgment of the court of first instance cited by the original judgment, the plaintiff was the cause of the claim, and the non-party Kim Yong-il did not cancel the right of pledge acquired by the defendant on July 20, 1956 at the Incheon Branch of Cho Jong-gu Incheon on the deposit date of December 20, 1956, and the defendant set the right of pledge on the claim for damages arising from the loss of the goods held in custody and entrusted with the non-party Kim Yong-il on the deposit date of December 20, 1956, and the defendant did not acquire the right of claim for damages until 3,00,00,000, after the cancellation of the deposit agreement for the custody of the non-party Kim Yong-il on the deposit date of December 17, 1956, since the plaintiff was not entitled to order the plaintiff to pay 470,0000,0000,000 won in lieu of the payment of the deposit at the Incheon District Court, the court below did not specifically set the right of pledge on the plaintiff's's claim 3.