Where a general mortgage has been established on land, building and a factory mortgage has been established on land and building pursuant to Article 7 of the Factory Mortgage Act, if the general mortgagee files an application for auction on land, building and the land, building and the machinery, apparatus, etc. thereof shall also be put up for auction.

Where a general mortgage has been established on land and a factory mortgage has been established on land pursuant to Article 7 of the Factory Mortgage Act, if an ordinary mortgagee files an application for auction of land and building, he/she shall also sell such land, building and machinery, equipment, etc. together with such land, building.

Article 4 of the Factory Mortgage Act, Article 5 of the Factory Mortgage Act, Article 7 of the Factory Mortgage Act

Re-appellant

Gwangju District Court Decision 71Ra10 delivered on May 31, 1971

The order of the court below is reversed, and the case is remanded to the Gwangju District Court Panel Division.

The Re-Appellant's ground for reappeal is examined.

According to the records, Plastic Co., Ltd. has an ordinary mortgage on the land and building which is the real estate for the purpose of the auction on this case, and it is evident that the person other than the appellant has a factory mortgage under Article 7 of the Factory Mortgage Act on the land and building above priority. In this case, the above ordinary mortgagee has an application for auction for the execution of mortgage on the land and building under the Auction Act, and as an auction court is the object of mortgage under Article 7 of the Factory Mortgage Act (Articles 4 and 5 of the above Factory Mortgage Act), it shall sell the above land and building together with the above land and building, and the machinery, apparatus, etc. shall not be put up for auction, and the court below shall not sell only the land and building, on the contrary of the opinion of the court below, there is no error of law by misunderstanding the legal principles of the Factory Mortgage Act, which affected the judgment.

Therefore, the decision of the court below is delivered with the assent of all participating judges in order to make a new trial and determination.

The presiding judge of the Supreme Court of Korea (Presiding Judge) shall be the red net shots and the white shots