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| TITLE | Supreme Court Decision 2013Da205693 Decided March 13, 2014【Guaranteed Debt, etc.】 [full Text] |
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| Summary | |
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[1] Whether damages for delay in the performance of a guaranteed obligation is a burden which is separate from the guarantee limit (affirmative), and the method for deciding the interest rate for delay in a guaranteed obligation [2] Where a credit guarantee fund’s credit guarantee agreement provided that the fund will undertake the guaranteed obligation of the principal (which is the balance of the guaranteed loan multiplied by guaranteed rates, while not exceeding the guaranteed amount), together with the accrued interest receivable in accordance with the agreed interest rate (interest rate applied on the due date for interests) until the principal is fully paid, the case holding that Article 18 of the credit guarantee agreement merely decides the scope of the principal obligation and its subordinate obligation, which are the Defendant’s guaranteed obligation, and that the judgment below is not a decision on damages for delay in a guaranteed obligation |
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