Where procedures are necessary for the method of transferring nominative claims to acquire a right to claim reimbursement of cashier's checks.

A legitimate holder of a check does not transfer the check, but a person who takes over the check after the lapse of the period for presentation without any material showing who is a legitimate holder at the time when the right on the check terminates cannot claim against the drawer that he was entitled to claim the reimbursement of benefit unless he takes the procedure according to the method of a designated assignment.

Article 63 of the Check Act

Supreme Court Decision 70Da2462 Delivered on January 13, 1976, 78Da568 Delivered on June 13, 1978, and 81Da167 Delivered on June 23, 1981

Plaintiff

Seoul Trust Bank, Inc.

Intervenor joining the Defendant

Seoul Civil District Court Decision 82Na1261 delivered on December 3, 1982

The appeal is dismissed.

The costs of appeal shall be borne by the plaintiff.

The grounds of appeal are examined.

The holder of a check whose right on the check is at the time when the right on the check is extinguished (see Supreme Court Decision 78Da568, Jun. 13, 1978) refers to a person who was entitled to exercise the right on the check (see Supreme Court Decision 78Da568, Jun. 13, 1978). Thus, in a case where the holder of a cashier’s check issued by a bank or a financial institution transfers the check whose right on the check is extinguished with the lapse of the period of presentment under the Check Act, barring special circumstances, he transfers the right to claim the reimbursement of the benefit arising from the extinction of the right on the check to the holder, and gives the holder the right to notify the transfer of the right on behalf of the holder (see Supreme Court Decision 70Da2462, Jan. 13, 1976). However, it is limited to the case where the holder transfers the check (see Supreme Court Decision 81Da167, Jun. 23, 1981).

In this case where there is no evidence to judge who is the legitimate holder at the time of the extinguishment of the right on the check of this case, the plaintiff who received the check of this case after the expiration of the time limit for presentment cannot assert the defendant who is the drawer and the defendant to whom the right to claim reimbursement of benefit was transferred, unless he followed the procedure according to the method of the designated assignment of claim. Thus, the judgment of the court below is just and there is no error that is inconsistent with the judgment of the court below as to October 10, 1979; 79Da1481 delivered on October 10, 1979; 81Da220 delivered on March 10, 1981. Thus, the argument cannot be adopted.

Therefore, the appeal is dismissed, and the costs of the appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices.

Justices Lee Chang-chul (Presiding Justice)