The case affirming the judgment of the court below which reduced the contract to waive the down payment and intermediate payment at the time of the violation of the remaining payment date by deeming it as liquidated damages.

The case affirming the judgment of the court below which reduced the estimated amount of damages on the ground that the waiver agreement is deemed as an estimate of the amount of damages and that the estimated amount of the remainder is unfairly excessive, in case where the buyer's payment was delayed due to the failure of the buyer to pay the balance by the due date of the payment, and the seller's delayed payment was in compliance with the date of the payment, and the seller did not pay any balance by the due date, and the seller did not pay the remainder by the due date, and the seller made an agreement to cancel the sales contract and invalidate the contract

Article 398 of the Civil Act

[Plaintiff-Appellant] Plaintiff 1 and 1 other (Law Firm Han-sung, Attorneys Park Jae-young and 1 other, Counsel for plaintiff-appellant)

Plaintiff

Young Jong-sung Co., Ltd. (Attorney Kim Yong-sik, Counsel for the defendant-appellant)

Gwangju High Court Decision 94Na5075 delivered on July 21, 1995

The appeal is dismissed. The costs of appeal are assessed against the defendant.

We examine the grounds of appeal.

The court below acknowledged that the plaintiff was unable to pay any balance to the defendant by the agreed due date for the remaining payment. On August 7, 1991, the defendant extended the payment period from the defendant to August 31, 1991. On the other hand, if the plaintiff fails to pay the balance by the due date, the contract of this case is cancelled and null and void, as well as the intermediate payment already paid to the defendant, and the above agreement is concluded to waive the payment by the due date. According to the above facts, it is reasonable to view that the above agreement of the court below was an agreement to give up or lose the right to claim the return of the down payment and intermediate payment already paid to the defendant if it is weak due to the plaintiff's failure to pay the balance by the due date, and it is reasonable to view that the above agreement of the court below was an agreement to give up or lose the right to claim the return of the down payment and intermediate payment already paid to the defendant at the time of the contract, and it is reasonable to view that the above agreement was concluded at the rate of 100% of the above down payment and the intermediate payment amount as well.

Therefore, the appeal is dismissed and all costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Lee Don-hee (Presiding Justice)