1. The plaintiff's appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff.

Purport of claim and appeal

The first instance court.

1. Basic facts

A. The Plaintiff is a person who engages in wholesale and retail business of construction materials under the trade name of “C,” and the Defendant is a person who operates D.

B. Around January 2009, the Defendant received construction materials equivalent to KRW 7,120,00 from the Plaintiff, and issued to the Plaintiff a note number of KRW 7,120,000 at par value, KRW 7,120,000, and due date, March 7, 2009, and KRW 1,00 at the National Agricultural Cooperative Federation at the place of payment (hereinafter “instant note”).

C. On March 9, 2009, the Plaintiff presented the payment of the Promissory Notes to the Nonghyup Federation, but was refused on the ground of non-transaction.

[Ground of recognition] Unsatisfy, Gap evidence 1 and 2

2. On January 2009, the Defendant, which caused the Plaintiff, delivered the Promissory Notes in lieu of the payment of the construction material price of KRW 7,120,00 (hereinafter “instant material price”), and the payment of the Promissory Notes was refused on the ground of non-transaction. Moreover, as the Plaintiff’s claim for the Promissory Notes and its underlying claim for the Promissory Notes extinguished by prescription, the Defendant gains the above KRW 7,120,000 by the lapse of prescription, and thus, the Defendant is obliged to repay the said KRW 7,120,000 to the Plaintiff, who is the holder of the Promissory Notes pursuant to Article 79 of the Bills of Exchange and Promissory Notes Act.

3. Determination

A. The Defendant issued to the Plaintiff the Promissory Notes in the amount equivalent to KRW 7,120,00 to the Defendant as the underlying claim for the material price claim of this case. The Plaintiff’s presentation to the payment place within 2 days from March 7, 2009, which was the due date of the Promissory Notes, was rejected for reasons of non-transaction. As seen earlier. The claim for the material price of this case is a claim for the price of the goods sold by the merchant, and the three-year extinctive prescription under Article 163 subparag. 6 of the Civil Act is applicable to the claim for the price of the goods sold by the merchant, and the claim for the Promissory Notes of this case shall be three-year prescription under Articles 7(1) and 70(1) of the Bills of Exchange and Promissory Notes Act.