The scope of damage suffered by a customer due to an unlawful disposal of stocks owned by a securities company by a customer;

In principle, the amount of damages suffered by a securities company due to an unlawful disposal of its stocks owned by its customer shall be determined on the basis of the market price of the stocks at the time of disposal, and even if the price of the stocks thereafter fell short of the price, the damages arising therefrom is due to special circumstances. Thus, a customer may claim compensation for damages according to such price, only in cases where the securities company knew or could have known such special circumstances at the time of disposal of the stocks, and where the securities company had known or could have known that the price of the stocks was lower than the price of the stocks.

Article 763 (Civil Act Article 393 (Article 393)

Plaintiff

Shin Young-young Securities Corporation

Seoul Civil District Court Decision 93Na7623 delivered on April 30, 1993

The appeal is dismissed.

The costs of appeal are assessed against the plaintiff.

The plaintiff's grounds of appeal are examined.

1. The court below held on August 24, 198 that the defendant company is liable to compensate the plaintiff for damages caused by the above tort on the basis of the fact that the defendant company voluntarily sold 500 shares of the Gyeonggi Bank owned by the plaintiff and 660 shares of the Seoul Trust Bank on August 24, 199 and 8.30 won per share 】 100 won per share 】 100 won per share 】 100 won per share 】 500 won per share 100 won, 500 won per share 】 500 won per share 600 won, 500 won per share 190 won. The court below held that the damages suffered by the plaintiff due to the above tort are the amount of 40 won per share price at the time of establishing the above shares and credit transaction account at the market price at the time of the tort, and that the above shares price at the market price is 100 won per share 190 won per share 】 100 won 500 won per share.

2. In principle, the amount of damages suffered by the customer due to the unlawful disposal of the stocks owned by the securities company should be determined on the basis of the market price of the stocks at the time of disposal, and even if the price of the stocks thereafter fell short of the price, the damages incurred therefrom should have been caused by special circumstances. Thus, the customer can claim damages according to such price, provided that the securities company knew or could have known such special circumstances at the time of disposal of the stocks, and that the customer could have clearly acquired profits from the sale of the stocks when the securities company sold the stocks at the time of disposal of the stocks.

3. In the case of this case, the plaintiff claims for damages equivalent to KRW 8,06,00 of the investment amount on the ground that the defendant company disposed of the shares owned by the plaintiff at will and appropriated the entire proceeds from the sale of the shares to collect the claim against the plaintiff, and the loss equivalent to such investment amount is only the result of the plaintiff's investment in the purchase of securities at his own discretion, and it cannot be deemed that there is a proximate causal relation with the defendant company's tort. Thus, the court below's rejection of the plaintiff's above assertion is justifiable. However, according to the records, the plaintiff asserted that the shares of the Seoul Trust Bank at the time of October 24, 1990 were 13,200 won per share, and the shares of the Gyeonggi Bank were 17,100 won per share, and that the shares of the Bank were 17,100 won per share. Thus, the court below's determination that the defendant company did not claim compensation for damages due to the difference in the market price after disposal of shares.

However, no detailed examination of the record reveals that the defendant company knew or could have known that the price of the shares was the error in the disposal of the shares at the time of the disposal of the shares, or that there was no evidence to prove that the plaintiff would have been able to acquire the profit by disposing of the shares immediately the price of the shares at that time if the defendant company did not dispose of the shares at that time, and thus, it cannot be accepted the plaintiff's assertion that the plaintiff claim compensation for damages due to special circumstances that the price of shares was lower. Thus, the conclusion that the court below calculated the amount of damages suffered by the plaintiff based on the market price of shares at the time of the disposal of shares by the defendant company, recognizing only ordinary damages, and that the above illegality committed by the court below did not affect the judgment, and thus, the argument cannot be

4. Therefore, the plaintiff's appeal is dismissed, and the costs of appeal are assessed against the plaintiff who has lost. It is so decided as per Disposition by the assent of all participating Justices.

Justices Yoon-young (Presiding Justice)