208 Single 15169 Promissory Notes

0 Steel Co., Ltd.

Red00 (531)

Daegu Seo-gu

June 17, 2008

July 8, 2008

1. The defendant shall pay to the plaintiff 148,030,000 won with 6% per annum from January 8, 2008 to February 25, 2008, and 104,930,000 won per annum from June 24, 2008 to the day of full payment.

2. The plaintiff's remaining claims are dismissed.

3. Ten percent of the costs of lawsuit shall be borne by the plaintiff, while the remainder shall be borne by the defendant.

4. Paragraph 1 can be provisionally executed.

The defendant of the Young-gu Office shall pay to the plaintiff 148,00 won and 43,100,000 won among them, 61,200,000 won per annum from March 14, 2008 to the delivery date of a copy of the complaint of this case from April 1, 2008 to the delivery date of a copy of the complaint of this case, and 6% per annum from the next day to the full payment date.

1. Facts of recognition;

The following facts may be acknowledged by adding up the whole purport of the pleadings to the items of evidence No. 1-1 to No. 1-3. 2, evidence No. 3-1 to No. 11, and evidence No. 4.

A. The Defendant issued three promissory notes to A Steel Co., Ltd. as follows:

(1) The serial number of a bill shall be 43,10,00 won at a par value of 43,10,000, the drawer, the defendant, the date of issuance on October 2, 2007, and the Daegu Metropolitan City, the place of payment, the place of payment, the dong of Han Bank, the place of payment on January 8, 2007

(2) The serial number of a bill is 00283403, face value is 61,200,000, the drawer, the defendant, the due date is 14 March 14, 2008, Daegu Metropolitan City at the place of payment, the place of payment is able to substitute for one bank.

(3) The serial number of a bill is 0050805, face value is 43,730,000, the drawer, the defendant, the due date is 12 April 12, 2008, and the name and address of Han Bank, a stock company, the place of payment.

B. The first endorsement of each of the above Promissory Notes is an endorsement in the name of the above corporation A Steel Co., Ltd., and the second endorsement of the Promissory Notes Nos. 1 and 2 is an endorsement in the name of the plaintiff, and the plaintiff holds each of the said Promissory Notes.

C. On the date of payment of the Promissory Notes, the Plaintiff offered payment to the Han Bank, Han Bank, Co., Ltd., the place of payment, by filling the payee’s column, but was rejected on the ground of non-transaction. On the date of payment of the Promissory Notes Nos. 2 and 3, the Plaintiff offered payment without filling the blank column of each Promissory Notes at the Han Bank, Inc., the place of payment, but was rejected on the ground of non-transaction.

D. On the other hand, around June 17, 2008, the plaintiff filed the suit of this case, around June 17, 2008, the bill of this case was in the column for the place of issuance; the bill of this case was in the column for the addressee’s column and date of issuance; the bill of this case was in the column for issuance; the bill of this case was in the column for issuance; the bill of this case was issued, the place of issue, the place of payment, and the column for the addressee’s column; and the copy of each of the above bill was submitted

2. Judgment on the parties' arguments

A. Even if the addressee’s column for a promissory note issued in blank was filled up after the due date by the person with the supplementary authority, the exercise of the supplementary authority is valid, and the supplementary right is exercised only until the closing of arguments in fact-finding proceedings. The issuer of a promissory note is a person who is obligated to pay the amount of the promissory note absolutely like the underwriter of the bill of exchange and is not a person liable for redemption, and thus the holder is not obligated to pay the amount of the promissory note even if the bearer did not make a payment request to the drawer (see Supreme Court Decision 80Da2695, Apr. 1

Ultimately, with respect to KRW 148,030,00 and KRW 43,100 among them, the Defendant is obligated to pay to the Plaintiff 6% per annum as stipulated in the Commercial Act from January 8, 2008, which is the date of payment, to February 25, 2008, for KRW 104,930,00 as well as KRW 20% per annum as stipulated in the Act on Special Cases Concerning Promotion, etc. of Legal Proceedings from June 24, 2008, which is the date of payment, to the date of delivery of a copy of the bill, and from February 25, 2008, for KRW 104,930,00 as well as KRW 20 per annum as stipulated in the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings from June 24, 2008 to the date of payment (see, e.g., Supreme Court Decision 2006Da3820, Sept. 28, 2009).

B. As to this, the defendant asserts that the representative director B of A Steel Co., Ltd. has no obligation to pay the Promissory Notes of this case merely lent several copies of the Promissory Notes without payment.

However, since the holder of a promissory note does not acquire a promissory note with the knowledge that it would prejudice the issuer, it shall not be set up against the issuer personal defenses, such as defenses based on the cause. Thus, the defendant's above assertion that the plaintiff acquired each of the promissory notes of this case with the knowledge that it would prejudice the issuer is rejected.

3. Conclusion

Therefore, the plaintiff's claim of this case is justified within the scope of the above recognition, and the remainder is dismissed as it is without merit. It is so decided as per Disposition.

Revision of Judges;