The costs of appeal are assessed against the defendant.

A. The lower court acknowledged the following facts based on evidence.

1) On March 25, 2013, the Plaintiff entered into the instant sales contract with the Defendant to purchase KRW 1.1 billion in the purchase price from the Seocho-gu Seoul Seocho-gu Seoul Metropolitan Government C Apartment Down-dong 1401, and agreed that KRW 10 million out of the down payment KRW 110 million will be paid on the date of the contract, and the remainder KRW 100 million will be transferred to the Defendant’s bank account on March 26, 2013, on the following day. The main contents of the instant sales contract are as follows. A) On the other hand, the seller shall compensate for the amount double of the down payment before the buyer pays the remainder, and the buyer may waive this contract (Article 5. b) or the buyer may cancel this contract by giving a written demand to the other party who has defaulted his/her obligation, and if the buyer has failed to perform it, the contract may be rescinded.

In this case, the seller and the buyer respectively may claim damages against the other party, and unless otherwise agreed on the damages, the criteria of Article 5 shall apply (Article 6). (3) The Plaintiff wired KRW 10 million out of the down payment to the Defendant’s bank account on the day of concluding the instant sales contract (Article 6). (4) On March 26, 2013, the following day, the Defendant notified the real estate agent who arranged the conclusion of the instant sales contract to cancel the instant sales contract and closed the Defendant’s bank account.

5) On the same day, the Plaintiff attempted to remit the remaining down payment of KRW 100 million to the Defendant’s bank account at around 11:30 on the same day, but failed to transfer to the above account closed, and the Plaintiff issued a cashier’s check to visit the licensed real estate agent’s office by one cashier’s check, and the Plaintiff closed the Defendant’s bank account to cancel the instant sales contract from the licensed real estate agent on March 27, 2013.