The nature of the period of seven days prescribed in Paragraph 2 of Article 616 of the Civil Procedure Act, which provides for revocation of auction when there is no possibility of surplus.

The term "period within seven days stipulated in Article 616 (2) of the Civil Procedure Act" is a kind of fiscal period due to its nature, so the applicant for auction cannot cancel the auction procedure on the grounds that the auction court is after the lapse of seven days from the date on which he received notice from the court of auction that there was no possibility of surplus under Article 616 (1) of the same Act, if there is no bidder who is equivalent to the price, by repaying all of the real estate liabilities and expenses which take precedence over the claim of the execution creditor, and by setting the amount of surplus, he/she applied for purchase at the price, and provided a security, even if

Kim Chang-sik

Seoul Central District Court Order 74Ra418 dated January 20, 1975

The reappeal is dismissed.

The grounds of reappeal are examined.

The court below's decision is justified as it is, on the premise that the period within seven days from the date of receiving the notice of the auction court under Article 616 (2) of the Civil Procedure Act is not a kind of fiscal period due to its nature, under the premise that the applicant for auction of this case is not a kind of fiscal period, and on the premise that the auction of this case's minimum auction price of this case is not a kind of fiscal period, if he reimburses all of the burden and expenses of the real estate preceding the creditor's claim and the expenses of the auction of this case, after seven days from the date of receiving the notice that there is no surplus, if he reimburses the creditor's claim, and if there is no auction according to the price, he applies for purchase at the above price and provides a security, the auction court cannot cancel the auction procedure on the ground that it

Therefore, the reappeal is dismissed. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Kim Yoon-Jeng (Presiding Justice)