Even if the act of guarantee of payment for checks conducted by the head of an agricultural cooperative depository is invalid without approval of the National Federation, the deposit depository belongs to the duties of the head of the deposit depository in transactions, as it is concerned with the loan business.

An act of guarantee of payment for checks issued by others by an agricultural cooperative's depository institution shall be deemed as an act performed by the head of the depository institution in connection with his duties, even if the payment guarantee becomes null and void due to the absence of the approval of the National Federation.

Article 111 of the Agricultural Cooperatives Act, Article 756 of the Civil Act

United States of America

Seoul Special Metropolitan City Agricultural Cooperatives

Seoul High Court Decision 70Na1516 delivered on February 5, 1971, Seoul High Court Decision 70Na1516 delivered on February 5, 197

The appeal is dismissed.

The costs of appeal shall be borne by the defendant.

The defendant's attorney's grounds of appeal are examined.

According to the reasoning of the judgment below, the court below determined that the non-party 1's act of guaranteeing the payment of the check of this case was not in violation of the Agricultural Cooperatives Federation's agreement and it was invalid because the non-party 1's act of guaranteeing the payment of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's check of this case's case's check of this case's case.

Therefore, the appeal is dismissed. It is so decided as per Disposition by the assent of all participating judges by applying Articles 95 and 89 of the Civil Procedure Act to the burden of the costs of appeal.

Justices Kim Kim-gmb (Presiding Justice)