All appeals by the Defendants are dismissed.

1. The summary of the grounds for appeal (in fact-finding and misunderstanding of legal principles) agreement between the Defendants and L stock companies is not a partnership agreement but an investment agreement, and even if so, the said joint agreement constitutes a partnership agreement.

However, since L corporation's business relationship was formed only after it entered into a sales contract independently, each of the lands of this case cannot be deemed as a combination's property.

Nevertheless, the court below found the Defendants guilty of the facts charged in this case on the premise that the joint business agreement between the Defendants and L Co., Ltd. is a partnership agreement, and the Defendants and L Co., Ltd are in partnership relationship under the above business agreement, and each land in this case is a partnership's joint property. The court below erred by misunderstanding of facts and misunderstanding of legal principles.

2. Determination

A. In a case where the purchaser acquired the ownership of real estate as the partnership's property for the purpose of running a joint business by making mutual investments, the partnership's property naturally becomes a combination of the partnership's property pursuant to Article 271 (1) of the Civil Act. However, if the partnership's property is registered for transfer of ownership under the name of one partner instead of the partnership's property without making a joint ownership registration, it shall be deemed that the partnership's

(See Supreme Court Decision 2003Da25256 Decided April 13, 2006, etc.). B.

In light of the business purpose of L Company, the purpose of purchasing each of the instant lands, the content of the joint agreement between the Defendants A, C and L Company on January 4, 2004, the contents of the joint agreement between the Defendants and L Company on July 23, 2007, and the source of funds purchased each of the instant lands, etc., the said joint agreement should be deemed not a simple investment agreement, but a partnership agreement.

In addition, the association of this case agreed on January 4, 2004 that two or more persons jointly carry on the business of this case.