At the time of the instant sales contract, the instant land owned 1/3 shares, respectively. However, the Plaintiff and the Defendant agreed to immediately cancel the instant contract and return the down payment and the down payment paid to the Plaintiff, if the ownership transfer registration is not effected in the name of the Defendant, the seller, and even if the contract was paid the down payment and the remainder within two months from the date of the conclusion of the contract, the said contract would not be subject to the transfer of ownership.

However, even though the Defendant received full payment from the Plaintiff, he did not perform the obligation to transfer ownership after the lapse of two months from August 8, 2014, which was the date of concluding the contract, and even though the Plaintiff notified the Defendant to perform the obligation to transfer ownership on November 4, 2014 and December 1, 2014, the Defendant did not perform this obligation, and the instant complaint containing the Plaintiff’s declaration of intent to cancel the instant sales contract was served on the Defendant.

Therefore, inasmuch as the instant sales contract was lawfully rescinded, the Defendant is obligated to pay to the Plaintiff the purchase price of KRW 210 million received from the Plaintiff as a result of the cancellation of the sales contract and the damages for delay calculated at the rate of 15% per annum from October 12, 2015 to the date of full payment, which is the day following the day of delivery of the complaint, as the Plaintiff seeks from the due date to the day of full payment.

The statutory interest rate under the main sentence of Article 3 (1) of the Act on Special Cases concerning Expedition, etc. of Legal Proceedings was previously established.