beta
Text
1. The part of the judgment of the first instance is revoked.
2. The Defendant’s KRW 495,810,387 and its relation thereto on October 2013 to the Plaintiff.
Reasons
1. The grounds for this part of this Court’s reasoning are as follows: (a) the Plaintiff and the Defendant are identical to the corresponding part of the judgment of the first instance, except where the Plaintiff and the Defendant are deemed to have “founded grounds for recognition” as “Article 150(3) and (1) of the Civil Procedure Act”; and (b) thus, they are cited in accordance
2. Pursuant to Article 150(3) and (1) of the Civil Procedure Act, the Defendant shall be deemed to have led to the confession that “(i) the Plaintiff paid to the Defendant the instant transfer proceeds of KRW 480 million, ② the fact that the Defendant is unable to change the business name stipulated in the instant transfer contract, ③ the Defendant expressed its intent to rescind the instant transfer contract on October 10, 2013, on the ground that it does not change the business name stipulated in the instant transfer contract, and (iii) the Defendant expressed its intent to cancel the instant transfer contract upon the application for change of the purport of the claim and the cause of the claim as of October 15, 2013, and the said declaration of intent was served on the Defendant on October 15, 2013.”
Ultimately, according to the transfer contract of this case, the defendant's obligation to implement the procedure for changing the name of the business operator is a duty to be performed prior to the payment of the purchase price by the plaintiff. Since the defendant did not perform this, the transfer contract of this case was lawfully rescinded upon the plaintiff's declaration of intent
Therefore, as a result, the Defendant is obligated to pay to the Plaintiff the legal interest or delay damages at the rate of KRW 495,810,387, which is a part of the said money, and KRW 6% per annum under the Commercial Act from October 10, 2013 to April 3, 2014, which is the date of the first instance judgment, and KRW 20% per annum under the Act on Special Cases Concerning Expedition, etc. of Legal Proceedings from the following day to the date of full payment.
(A) Article 3(2) of the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings provides that the Defendant shall pay the said money and the damages for delay, as the Defendant’s obligation to implement the procedure for changing the name of the business entity is currently impossible.