Scope of Interest Limitation Act

The Interest Limitation Act does not apply to interest on loans of fixed or white dollars which are not money.

Article 1 of the Interest Limitation Act

November 25, 1965, Supreme Court Decision 65Da1442 delivered on November 25, 1965 (Supreme Court Decision 1585 delivered on November 15, 196, Supreme Court Decision 13Du239 delivered on November 239, 200)

Plaintiff

Defendant

Daejeon District Court of the first instance (70A523, Counsel for the defendant-appellant)

(1) The original judgment shall be modified as follows:

② The Defendant shall pay to the Plaintiff 24 Gaz. 5 Maz. (150 Gaz.) at the rate of 50 percent per annum from February 1968 to the full payment.

③ If the above white leaves are not paid, the sum calculated by converting the sum of KRW 7,000 into the sum of KRW 7,000 is paid.

④ The remaining claims of the Plaintiff are dismissed.

(5) All the costs of lawsuit shall be borne by the defendant.

(6) Main paragraphs (1) and (2) of this Article may be provisionally executed.

The plaintiff paid to the plaintiff 67 Gaman 2 mamama (150 Gamama per 150 Ga).

If it is not possible to pay the above white part, she shall pay the white part converted into 7,000 won of 1 Ghana.

The judgment that the litigation costs should be borne by the defendant was sought.

The defendant shall revoke the original judgment.

The plaintiff's claim is dismissed.

The judgment that the total cost of the lawsuit shall be borne by the plaintiff was sought.

1. Facts that the parties concerned have no dispute;

(1) The fact that on April 23, 1965, the plaintiff by proxy of the non-party (the plaintiff's relative relationship) lent 30 Manman (150 Manmen per 150 Manmen) to the defendant under an agreement on April 23, 1965

(2) The fact that the defendant, as of January 1, 1968, paid 180,000 won in cash by converting 3,800 won into 1 Gaman

2. Dispute between the parties;

(1) The Plaintiff’s assertion-Defendant’s above 180,000 won was paid by the Defendant as 2 years and 9 months interest on the principal of 30 Mazon up to 68.1.1.

(2) Even if the payment of interest is appropriated as the principal of the Plaintiff’s claim, 180,000 won is appropriated for the payment of interest as the principal of the Plaintiff’s claim, the amount of KRW 3,800 falls under the end of 47 Gazzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzine 1.

3. Determination

Where a debtor is unable to repay his debt in full, unless there exists an agreement between the parties concerned, it is clear that it should be appropriated for the payment of the principal, and if there is any remainder, it shall be appropriated for the payment of the principal, and the Interest Limitation Act shall not apply to interest on good faith or loans not money (Supreme Court Decision 65Da1422 Decided 25, Nov. 25, 65). Thus, if the debtor shows a pleading between the parties concerned, it is obvious under Article 1 of the same Act that it shall not apply to interest on loans of 190Da305, Apr. 23, 1965 to Jan. 1, 1968, 209Da4180, Nov. 25, 1968, 20000Du15785, Nov. 24, 1968, 205, 300Da15778, Nov. 4, 1968.

Therefore, the defendant is obligated to pay to the plaintiff the sum at the rate of 50 percent per annum from February 2, 1968 to the full payment. If the execution of the above kind of goods is impossible, the defendant is obligated to pay to the plaintiff the sum at the 7,000 won per 1 Mamamaman's market price, since there is no dispute between the parties that the above kind of goods is 7,000 won, the part exceeding the above recognition (based at the time of the conclusion of the trial in the trial) among the plaintiff's claims (based at the time of the trial in the trial in the trial), and the other conclusion is unfair, and the defendant's appeal is justified, that is, the original judgment is modified pursuant to Article 385 of the Civil Procedure Act, and the total cost of the lawsuit is decided as per Disposition by applying Articles 89, 92, 96, and 199 of the Civil Procedure Act.

Judges Yekpo-syun (Presiding Judge)