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| TITLE | Supreme Court Decision 2012Da54997 Decided April 10, 2014【Damages】 [full Text] |
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| Summary | |
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[1] If a purchaser either failed to officially notify a market price or notified a lower price than the market price in sales transaction, whether it constitutes a tort (negative in principle), and where a purchaser hired an appraisal corporation to know the object’s market price and submitted its appraisal price to seller as price data, whether a purchaser owes a duty under the principle of good faith to examine whether the appraisal price is the market price or an adequate price (negative in principle), and whether the same legal principle applies to the sale of public property (affirmative) [2] Whether a local government is responsible for examining if an appraisal corporation’s appraisal price upon its solicitation properly reflects the market price (affirmative) [3] Where Party A (a local government) concluded a contract to sell its land to Party B (Housing Redevelopment and Maintenance Project Association) and the selling price was determined as an arithmetic average of appraisal prices of each appraisal report by two appraisal corporations, the case holding that Party B’s submission without examining its adequacy to Party A does not constitute a tort |
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