CONTENTS
- 1. Jeju Attorney | The Client's Request
- - Jeju Attorney | Confirming the Client's Situation
- - Jeju Attorney | Argument of Company A
- 2. Jeju Attorney | Defense
- - Jeju Attorney | Defense 1: Rebutting the Argument of Company A
- - Jeju Attorney | Defense 2: Payment of the Loan and Delay Damages
- 3. Jeju Attorney | Judgment
1. Jeju Attorney | The Client's Request
The Jeju attorney’s client requested assistance with a 🔗return of a loan lawsuit, stating that he had lent loaned money to a stock company but had not been repaid for several years.
Jeju Attorney | Confirming the Client's Situation
The Jeju attorney's client went to A Co., Ltd., a company primarily engaged in construction, to commission the construction of a new building, and there an executive asked whether the client could lend approximately 800 million won.
The executive's request was as follows: he needed money for a new business, and if the client lent him one of the client's buildings, he would sell that building to raise 800 million won and repay the 800 million won in cash within one year.
Judging that there would be nothing to lose as long as a written undertaking was prepared, the client handed over one of the buildings and prepared a sales (presale) contract.
In addition, the client and A Co., Ltd. recorded the following special agreement in the sales contract.
Attachment (Special Terms) The defendant company shall, on the basis of the above contract, acquire the building owned by the client, located at ㅇㅇㅇ, ㅇㅇ-ro ㅇㅇ, ㅇㅇ City, for 800 million won, treat the payment as having been paid in advance, and by ㅇㅇ ㅇㅇ, ㅇㅇㅇㅇ, simultaneously with repaying 800 million won in cash, the client shall return the presale rights worth 800 million won, as hereby agreed. If the defendant company fails to make repayment by ㅇㅇ ㅇㅇ, ㅇㅇㅇㅇ, the client shall have the right to recover 800 million won with priority from the defendant company's building, regardless of the presale amount. The defendant company shall also pay the interest costs accruing from ㅇㅇ ㅇㅇ, ㅇㅇㅇㅇ until the time of repayment. |
A Co., Ltd. did not repay the money by the repayment date. It also extended the repayment deadline several times and told the client that it would pay additional interest.
However, it still did not repay the money thereafter, and in breach of its promise to give the client the rights to A Co., Ltd.'s building, it even sold the building to another person.
As a result, the following written undertaking was finally prepared between A Co., Ltd. and the client.
Written Undertaking The defendant company and the client undertook that "if the defendant company fails to make repayment by ㅇㅇ ㅇㅇ, ㅇㅇㅇㅇ, the client shall have the right to recover 800 million won with priority from the defendant company's building, regardless of the presale amount." Because the defendant company sold the building through presale without prior consultation with the client and also broke its promise to repay, the defendant acknowledges the fraud and agrees to bear legal responsibility. However, repayment shall be deferred until ㅁㅁ ㅁㅁ, ㅇㅇㅇㅇ, under the following conditions. 1. Pay the amount due to the client by ㅁㅁ ㅁㅁ, ㅇㅇㅇㅇ |
Even after ㅁㅁ ㅁㅁ, ㅇㅇㅇㅇ, A Co., Ltd. did not pay the amount due to the client, so the client came to the Jeju attorney in order to file a lawsuit.
Jeju Attorney | Argument of Company A
Company A asserts that it had repaid the entire loan claim before preparing the letter of undertaking to the Jeju attorney's client.
2. Jeju Attorney | Defense
The Jeju attorney undertook the defense to win the case for the client.
Jeju Attorney | Defense 1: Rebutting the Argument of Company A
Company A claimed that it had fully repaid the loan claim owed to the Jeju attorney's client;
the terms of the contract and other matters were set out in the above letter of undertaking, and where the parties draw up the contents of a contract as a dispositive document, they finalize and record the rights and obligations of the parties existing as of the time of drafting.
Accordingly, Company A agreed in the letter of undertaking to pay the client 800 million won.
In addition, it extended the repayment deadline several times and also set the increased amount as the borrowed amount.
However, in that process, Company A took no account whatsoever of the repayment it is now asserting.
For that reason, the assertion that Company A repaid the loan does not make sense as a matter of common sense.
Jeju Attorney | Defense 2: Payment of the Loan and Delay Damages
Because the client of the Jeju attorney received no repayment of the loan at all under the above terms, Company A is to pay not only the loan of 800 million won but also delay damages calculated at an annual rate of 20% from the day following the repayment due date of OOOO, MM DD, until the date of full repayment.
3. Jeju Attorney | Judgment
After the Jeju lawyer argued on the client's behalf as set out above, the court rendered a judgment ordering A Co., Ltd. to pay the loan of 800 million won and delay damages, upholding the entire purport of the claim.
Because the lawsuit was against a corporation, difficulties had been anticipated,
but Daeryun obtained the result. If you are in a situation similar to the client's, please do not hesitate to find a Jeju Daeryun Law Firm lawyer and entrust your case.
This content is based on actual case studies of Daeryun Law LLC with some adaptations, and the copyright belongs to our firm.
Unauthorized reproduction, duplication, or distribution and other copyright infringements may result in legal action under applicable laws.
