(a) Nature of contract bond for sales in lots with the Korea Land Development Corporation;

(b) Whether the right to cancel the contract under Article 565 of the Civil Act is excluded from the sales contract under the Housing Site Development Promotion Act;

A. The contract bond delivered between the parties in a sales contract shall have the nature of cancellation money unless otherwise agreed in principle, and therefore, the contract bond under the sale contract with the Korea Land Development Corporation has the nature of cancellation money under Article 565(1) of the Civil Act.

B. In order to stabilize national residential life, the Housing Site Development Promotion Act and the Enforcement Decree thereof stipulate that the housing site creation, location and size of the supplied land, the method of selecting the objects to be supplied, the time and method of supply, etc. shall be approved by the Minister of Construction and Transportation. Even if the sale of the land is governed by public law by the sale conditions approved by the Minister of Construction and Transportation as a rental housing site, there is no difference between the sale and sale contract between the private parties in common, so the right to cancel the contract on the ground of the repayment of the amount of the contract deposit under Article 565 of the Civil Act is not excluded

Article 565 of the Civil Act

A. Supreme Court Decision 79Da217 delivered on April 24, 1979 (Gong1979, 11944) 80Da2499 delivered on July 28, 1981 (Gong1981, 14254) and 86Nu438 delivered on February 24, 1987 (Gong1987,566)

Dongnam Housing Construction Co., Ltd. and one other plaintiffs et al., Counsel for the plaintiff-appellant-appellee and one other

Korea Land Development Corporation (Attorney Yoon Il-young et al., Counsel for the plaintiff-appellant)

Supreme Court Decision 92Da31323 delivered on January 19, 1993

Seoul High Court Decision 93Na7756 delivered on July 27, 1993

All appeals are dismissed.The cost of appeal is assessed against the plaintiffs.

The grounds of appeal Nos. 1 and 2 are examined together (the grounds of appeal on the supplemental appellate brief in the form of attorney-at-law are examined to the extent of supplement in case

According to the reasoning of the judgment below, the defendant Korea Land Development Corporation announced the sale of the housing site to invite applicants for parcelling-out on May 12, 1990 with respect to the housing site 158 Blue 28,795 square meters (hereinafter "the land of this case"), and the defendant's defect in the application for parcelling-out on June 17 of the same month jointly determined the plaintiffs as eligible for supply on June 22 of the same year, and the purchase price of 3,434,639,00 won was 350,329,000 won on the date of the contract, and there was no error of law in the court below's determination as to the cancellation of the contract deposit of this case's 1,717,310,000 won on July 22 of the same year, and there was no error in law by the defendant's determination as to the cancellation of the contract deposit of this case's 3,500,000 won on the ground that the contract price of this case was delivered.

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

Justices Kim Jong-soo (Presiding Justice)