It is reasonable to calculate the value of the security for the secured claim on the real estate held by the joint collateral by the ratio of the price of the real estate held by the joint collateral.

If a security right is exercised first with respect to one of the joint collateral, it is reasonable to calculate the value of the security for the secured claim of each real estate which became the joint collateral according to the price ratio of each real estate.

Article 368 of the Civil Act

Korea

National Agricultural Cooperative Federation

Seoul High Court Decision 68Na859, 860 delivered on February 17, 1971

The part against the Counterclaim Plaintiff (Defendant) regarding the counterclaim among the original judgment shall be reversed, and this part of the case shall be remanded to the Seoul High Court.

The defendant's remaining appeals are dismissed.

Of the costs of appeal, the costs of appeal shall be borne by the defendant.

The defendant's attorney's grounds of appeal (No. 1) are examined.

According to the reasoning of the judgment, in calculating the amount of damages arising from the loss of a security right, the court below should have determined the amount of damages arising from the establishment of the above collateral on May 29, 1964, which is the date and time of the registration of the establishment of the collateral security right, by 1,490,484 won, and 308,40 won, which is the market price of the real estate listed in the attachment No. 2 list; 25,500 won, which is the market price of the real estate listed in the third list; and 1,500 won, which is the joint collateral list for the real estate held on October 30, 1964, which has already been held by the defendant, before the establishment of the collateral security right was registered, the court below should have determined the amount of damages arising from the above collateral list to be jointly held by the creditor of the above real estate, and should have determined the amount of damages arising from the joint collateral list which should have been calculated within the limit of 1,000 won, among the above joint collateral list.

Therefore, by the assent of all participating judges, the part of the defendant's complaint regarding the counterclaim shall be reversed, and this part of the case shall be remanded to the Seoul High Court, and the defendant's remaining appeal shall be dismissed and the costs of appeal shall be assessed against the losing party.

Judge Han-dong (Presiding Judge) of the Supreme Court