Jeju Law Firm | Full Recovery Through an Action for the Return of an Agreed Sum Against a Business Partner

2024.12.16김국일

The client came after learning, to his shock, that the defendant (a business partner) had been neglecting work and had even embezzled funds. The client sought to cancel the partnership and recover the agreed sum.

1. Jeju Law Firm | Case Overview

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The Jeju Law Firm assisted the client in canceling a partnership with the client's friend and business partner and in recovering the agreed sum.

The Jeju attorney recovered the full amount of the client's agreed sum.

Jeju Law Firm | A Friend's Betrayal and a Broken Partnership

The client requested the return of the investment funds, seeking to end the partnership on the ground that the defendant was neglecting his duties, including frequently arriving late at the business.

The defendant admitted that he had embezzled a substantial portion of the funds by using them for personal purposes.

The client had initially obtained a written repayment undertaking in which the defendant agreed to return the full investment amount along with an additional contribution, but the defendant did not make repayment even after the deadline had arrived.

No longer able to trust the defendant, the client came to an attorney at the Jeju Law Firm to terminate the partnership and pursue a lawsuit for the return of the agreed sum.

2. Jeju Law Firm | Guide to Lawsuits for the Return of an Agreed Sum

The attorney at the Jeju Law Firm explained to the client that the agreed sum could be recovered through a lawsuit for the return of an agreed sum.

The attorney at the Jeju Law Firm explained that a lawsuit for the return of an agreed sum is as follows.

A lawsuit for the return of an agreed sum is a lawsuit filed when a debtor fails to repay money promised to a creditor.

It generally proceeds as a civil action, and it must be confirmed whether the agreement has legal effect.

In other words, evidence is needed showing that the agreement's statute of limitations has expired or that the agreement arose and its payment deadline has passed.

Such civil proceedings generally take considerable time and can be difficult to prove, so consulting an attorney at the Jeju Law Firm can be helpful.

Jeju Law Firm | The Legal Basis for a Lawsuit to Return an Agreed Sum

The client asked an attorney at the Jeju Law Firm what the legal basis for a lawsuit to return an agreed sum was.

Attorney, what is the legal basis for the return of an agreed sum?

Attorney: It is based on the Civil Act. In this case, a written repayment undertaking was prepared agreeing to return the investment funds, but the defendant did not keep his promise, so the matter may fall under Article 390 of the Civil Act (Default and Damages) and Article 741 of the same Act (Content of Unjust Enrichment).

Attorney, then can the agreed sum be returned through a method other than a lawsuit to return an agreed sum?

Jeju Law Firm: Yes, that is correct. For the client to recover the agreed sum that the defendant has not returned through a method other than litigation, a mutual settlement is also an option. What must be kept in mind here is that a mutual settlement can break down at any time, and there is also the possibility of a later lawsuit, so it is important to send a certified content notice to leave a record as evidence.

As with this client, a dispute that arises between close parties can also be resolved through a mutual settlement.

However, because the defendant did not keep his promise even after preparing a written repayment undertaking, the client proceeded with a lawsuit to return the agreed sum.

3. Jeju Law Firm | Trial Result, Full Return

The client was distressed that the defendant, a close friend and business partner with whom the client had built a business together, had suddenly become an opposing party in litigation.

At the trial, the Jeju attorney explained the client's situation, arguing that the broken trust between the business partners caused emotional harm, that the defendant caused substantial financial harm by embezzling a significant portion of the business funds, and that the defendant failed to honor the written repayment undertaking and did not return the agreed sum.

The court accepted the client's arguments and ordered the defendant to return the full agreed sum.

The attorney at the Jeju Law Firm represented the client diligently, and as a result the client was able to recover the full agreed sum through the decision ordering its complete return.

Jeju Law Firm | Legal Advice From the Jeju Attorney

Through this lawsuit, the client was able to resolve the financial dispute with the defendant amicably.

Because the return of an agreed sum between business partners can be complex and sensitive, it is important to seek advice from a professional before beginning legal proceedings.

The Jeju attorney provided guidance on legal responses and follow-up procedures suited to the client's situation.

The Jeju Law Firm will continue to assist clients in resolving a wide range of legal disputes.

If an issue related to the termination of a partnership arises, you may at any time 🔗contact a Jeju attorney and 🔗schedule a legal consultation to receive legal advice.

This content is based on actual cases handled by Daeryun Law LLC and has been partially adapted. All copyrights belong to Daeryun Law LLC.
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