A Gwangju Law Office assistance case | The Gwangju Law Office prevails, recovering the full agreed sum in an agreed sum lawsuit

The client who visited the Gwangju Law Office had repeatedly provided financial support to an acquaintance who was a long-time friend, but, unable to recover it, resolved to pursue an agreed sum lawsuit.

Having moved his residence to a provincial area for a new business, the client grew closer to the acquaintance at a friend's recommendation and continued to lend money.

The amount when the monetary transactions with the acquaintance first began was no more than several million won, but over time it grew to 100 million won.

The acquaintance, unable to repay the principal, began paying some interest, but kept postponing the repayment deadline requested by the client and did not repay.

Faced with repeated repayment delays, the acquaintance prepared a written undertaking specifying the principal of 100 million won and the repayment deadline, but did not keep the promise to the client.

Judging that the acquaintance's voluntary repayment could no longer be expected, the client visited Daeryun's Gwangju Law Office to request the assistance of a Gwangju attorney with extensive case experience in filing an agreed sum lawsuit.

The Gwangju Law Office provided a detailed explanation of the lawsuit for the return of an agreed sum in order to help the client understand the litigation.

What is a lawsuit for the return of an agreed sum?
A lawsuit for the return of an agreed sum is a lawsuit in which the amount is claimed on the basis of an agreement to pay money.

An agreement is a kind of contract, and if it is not kept, a claim regarding the relevant obligation may be made.

Extinctive prescription of an agreed sum claim

1. When it is confirmed that there are no insurance proceeds for the insurance company to pay

2. When one has suffered a crime such as identity theft or voice phishing

3. When the money has been repaid but there is no evidence because the transaction was made in cash

4. When the extinctive prescription has run and there is no debt to repay

The Gwangju Law Office emphasized in court that the acquaintance had repeatedly failed to keep the repayment deadlines and, pursuant to the Act on Special Cases concerning Expedition, etc. of Legal Proceedings, also claimed delay interest.

Through this, the client was able to be compensated for the monetary loss suffered.

The attorney at the Gwangju office secured materials on the acquaintance's financial status and assets and submitted them to the court, thereby clearly proving that the acquaintance had intentionally delayed repayment.

The Gwangju Law Office argued that the written undertaking prepared by the acquaintance was decisive evidence acknowledging the monetary debt.

This written undertaking had been newly prepared each time the acquaintance sought to avoid repayment.

The Gwangju Law Office used it as important material proving the acquaintance's intentional delinquency and emphasized the importance of the written undertaking.

The Gwangju Law Office carried out a precise legal response to the acquaintance's delayed repayment in order to bring about the client's success.

In particular, it proved the importance of the written undertaking in pleading and successfully claimed delay interest as well, thereby compensating for the client's loss.

Having prevailed in the agreed sum lawsuit, the client was able to recover in full the amount that had long gone unpaid.

If you are considering an agreed sum lawsuit like the client above, 🔗we recommend that you visit Daeryun Law Firm for a consultation.