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1. The defendants' appeal is dismissed.
2. The costs of appeal are assessed against the Defendants.
Purport of claim and appeal
1...
Reasons
1. The remainder of the down payment (1-5 units), intermediate payment (6 units) subject to a contract on the date of concluding a contract, on October 1, 2014, of KRW 18,288,288,400,400 18,288,400,865,200 182,882,884,884,000 on October 1, 2014 (1508,298,298,304,305,804,308,304,904,90,900,983,90,983,00,000,000 won on October 14, 2014;
A. From October 1, 2014 to October 7, 2014, the Plaintiff concluded a sales contract for the said hotel (hereinafter “instant sales contract”) with the Defendants as follows.
Article 2 (Cancellation of Contracts) (1) A seller and a seller (hereinafter referred to as "seller") may cancel this contract if the buyer commits any of the following acts:
1. When a contract is terminated for reasons falling under Article 2 (1) through (2) on the grounds that a grace period of 14 days has not been paid within 30 days from the date of the payment agreement for the parcelling-out price prescribed in Article 1 and a peremptory notice has not been given twice or more, the total amount of the parcelling-out price shall be reverted to the seller as a penalty, and the remaining amount (where overdue charges exist, the deduction shall be made) shall be refunded to the buyer;
In such cases, the buyer may not claim a period for the sale price already paid to the seller.
(3) Where this contract is terminated, the seller shall refund the sum excluding the principal and interest on the repayment and the addition of the interest on the installment payments expected by the seller and the interest on the installment payments paid by the seller when the seller makes a substitute payment for a penalty or the seller pays for a loan out of the amount already paid (where there is a person liable for advance payment, the amount after deducting the amount of advance payment discount), and where the principal and interest on the loan, the interest on the substitute payment, and the penalty are insufficient
§ 6.