The judgment below is reversed, and the case is remanded to the Gwangju High Court.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. The court below held on April 27, 2007 that, on the ground that the business agreement of this case and the reasons leading up to the loan and the real estate security trust contract, and the right to consent to termination of a trust are the only way for the first beneficiary to secure the proceeds from the disposal of the real estate held in trust, so it seems that the plaintiff, the first priority beneficiary, delegated the right to consent to termination of a trust to the defendant upon request of the defendant, who is another joint beneficiary, would have believed that the plaintiff would have been properly distributed the proceeds from the sale of the real estate held in trust. In light of the series of process from the conclusion of the business agreement of this case to the delegation of the right to consent to termination of the trust, the defendant cannot be deemed to have a legitimate authority to hold the proceeds from the sale of the real estate trusted in excess of the percentage of the amount of his certificate of trust under the principle of trust and good faith, the plaintiff, at the request of the defendant, delegated the right to consent to termination of the trust in a lump sum between the defendant and the defendant.

2. However, the lower court’s determination is difficult to accept for the following reasons.

The judgment below

The reasons and records reveal the following facts.

(1) At the time of the instant loan, the Plaintiff received the said 17 households as security by entering into a sales contract with the Plaintiff as to the 17 household units among the Da apartments located in the Heung-gu Seoul Metropolitan Government (hereinafter “instant apartments”) that was implemented by the Plaintiff at the time of the instant loan with the lender A Co., Ltd. (hereinafter “A”), and such sales contract is offered as security.