The judgment of the first instance shall be revoked.

The plaintiff's claim is dismissed.

All costs of the lawsuit shall be borne by the plaintiff.

purport, purport, and.

1. The parties' assertion

A. On February 21, 1998, the Defendant issued a promissory note (hereinafter “the Promissory Notes”) stating the face value as “10,000,000,000,” and the due date as “3. 17, 1998,” and thus, the Defendant is obligated to pay the Plaintiff the amount KRW 10,000,000 and the delay damages.

B. The Defendant did not issue the instant bill to the Plaintiff, and even if there were such facts, the extinctive prescription expired, and thus, the Defendant does not have the obligation to pay the instant bill to the Plaintiff.

2. Determination

A. The claim on a bill against the principal obligor is extinguished upon expiration of the extinctive prescription unless it is exercised within three years from the maturity date (see Articles 77(1)8 and 70(1) of the Bills of Exchange and Promissory Notes Act). The claim on how the extinctive prescription period of a certain right becomes effective is merely a mere legal assertion and can be determined ex officio by the court without subject to the principle of pleading

(See Supreme Court Decision 77Da832 Decided September 13, 197, and Supreme Court Decision 2006Da70929, 70936 Decided March 27, 2008, etc.) B.

In light of the above legal principles, the plaintiff filed the lawsuit in this case seeking the payment of the bill of this case on November 15, 2007, which had been more than three years since the due date ( March 17, 1998) of the bill of this case, and even if the defendant issued the bill of this case to the plaintiff as alleged by the plaintiff, the claim in this case had already been completed and expired before the lawsuit in this case was filed, and therefore, the defendant's objection to the statute of limitations is justified and the plaintiff's claim in this case is concluded to be groundless.

At the time of issuance of the Promissory Notes, the Plaintiff also prepared a notarial deed accepting compulsory execution against the Defendant’s property, and around 198, the said notarial deed as an executive title.