1. Revocation of the first instance judgment.

2. All plaintiffs' claims are dismissed.

3. The plaintiffs' total costs of litigation.

1. Basic facts

A. On May 15, 2013, the Plaintiffs purchased from the Defendant a parcel of land (hereinafter “each of the instant land”). On May 15, 2013, the Plaintiffs purchased (hereinafter “instant sales contract”) the following: ① 3,536 square meters in Jincheon-gun, Jincheon-gun; ② 3,056 square meters in E, ③ 89 square meters in G, and ④ 871 square meters in F, four parcels of land (hereinafter “the instant land”). The main contents of the sales contract made at the time are as follows:

Article 2 Buyers shall pay the purchase price as follows:

The purchase price of KRW 650 million shall be paid KRW 650 million on the date of the contract.

Any balance of 50 million won shall be paid on June 17, 2013.

Article 4 The seller shall pay to the seller debts and taxes and public charges related to the real estate as of the date of payment of the balance.

Section 6. The seller shall reimburse the amount of the down payment at the time of the termination of the contract, and the buyer shall waive the down payment at the time of the termination and shall not claim the return thereof.

A special agreement: The seller shall actively cooperate even before the remainder payment is made, if the above-mentioned loan, the succession to the establishment of a right to collateral security, or a new loan is necessary.

B. At the time, the instant land owned by the Defendant: (a) the maximum debt amount of KRW 460 million with the joint collateral; and (b) each of the said land was set up by the respective collateral security (the secured debt amount of KRW 351,162,383, Jun. 17, 2013; hereinafter “the instant first collateral security”) and the maximum debt amount of KRW 20 million with the Defendant, the obligor, and the obligee H, respectively. (hereinafter “the instant second collateral security”).

On the other hand, the land in this case was owned by the I, and the real right of security was not set.

C. On the date of the instant sales contract, the Plaintiffs paid KRW 250 million to the Defendant in cash, and received any document, such as a receipt verifying the payment from the Defendant.