1. The plaintiff's appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff.

Purport of claim and appeal

The first instance court.

1. Basic facts

A. C Co., Ltd. issued, around March 26, 2013, at the face value of KRW 20 million, the payment date on July 27, 2013, the Seoul Special Metropolitan City, Gwangjin-gu Seoul Special Metropolitan City, the public notice place, 145-8, and promissory notes (the Promissory Notes No. 1; hereinafter “the Promissory Notes”) that are the Defendant and delivered to the Defendant for the payment of the construction price, and the Defendant, D, and E exempted each of the certificates of non-payment and endorsed each of the promissory notes of this case in sequence.

B. On July 26, 2013, E owned the Promissory Notes in this case and presented payment to a branch of an enterprise bank, which is the place of payment, but was refused due to non-transaction.

C. The Plaintiff received the Promissory Notes from D after the refusal to pay the Promissory Notes.

[Ground of recognition] Facts without dispute, Gap evidence No. 1, Eul evidence No. 1, the purport of the whole pleadings

2. Determination on the cause of the claim

A. According to the above facts, the Defendant is an endorser of the Promissory Notes in this case, barring special circumstances, and is obligated to pay the Plaintiff the amount and interest of the Promissory Notes in accordance with the Plaintiff’s exercise of the right of recourse, which is the final holder of the Promissory Notes

B. As to this, the Defendant asserted to the effect that, after the Plaintiff’s refusal of payment of the Promissory Notes, the Plaintiff received the Promissory Notes in this case, and thus, it cannot seek payment of the amount of the Promissory Notes against the Defendant, who is not the issuer. However, since the endorsement after the refusal of payment (endorsement after the due date) also takes effect of the transfer of nominative Claim (transfer of rights), the Plaintiff is entitled to exercise the right of recourse against the Defendant, who is the endorser, as the holder of the Promissory Notes in this case, only because the Plaintiff possessed the Promissory Notes after the refusal of payment,

3. The defendant's judgment on the extinctive prescription shall hold a bill for more than one year after the plaintiff's refusal to pay the Promissory Notes in this case.