1. The part of the judgment of the court below against the defendant is reversed, and the part against the plaintiff A, B, and C is added in the court below.

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

1. Regarding the plaintiffs' grounds of appeal

A. As to whether the contract was entered into for a third party, the lower court determined that the provision on the loss of benefit arising from the contract of this case can be invoked by the declaration of intent of profit in accordance with the legal principles of the contract on behalf of the third party, on April 23, 2009, on the following grounds: (a) the public offering consignment agreement concluded on April 23, 2009 between the Defendant and the Daewoo Securities Co., Ltd. (hereinafter “the instant contract”) (hereinafter “the instant contract”) provides that “the validity of the provisions on the authority and obligations of the trustee company under this contract and the effect of the exercise of authority and performance by the trustee company shall affect the bondholder.”

Examining the record in light of the relevant legal principles, the above determination by the lower court is justifiable, and contrary to what is alleged in the grounds of appeal, the lower court did not err by misapprehending the legal doctrine on the contract for a third party, or

B. With respect to the nature of the provision on the loss of time limit, the special agreement on the loss of time limit may be divided into two parts: (a) the special agreement on the loss of time limit, which naturally loses the benefit of time without requiring the obligee’s claim, which is due and the due date comes; and (b) the special agreement on the loss of time limit, which provides that the due date comes only after the obligee’s act of intent, such as the obligee’s notice or claim, occurs after a certain cause occurs; and (c) whether the special agreement on the loss of time limit falls under any of the two, is a matter of interpretation of the parties’ intention. However, in light of the general agreement on the loss of time limit