"On Being Served With the Complaint, the Defendant Refunded the Entire Pre-Sale Price to the Plaintiff"
Law Firm Changchun (attorneys in charge: Geonho Park, Kyungseok Park, Jonghoon Kim and Dusik Jang) acted for the purchaser of a retail unit in an action against the seller for "return of the down payment and other relief," seeking repayment of the down payment and interim payments already made.
When the plaintiff purchased the unit, the defendant had proposed carrying out separate works to remove a step about 70 cm high at the highly accessible rear of the unit, and the plaintiff entered into the pre-sale contract in reliance on that proposal.
On confirming that no work at all had been done at the rear of the unit despite construction being complete, the plaintiff requested rescission of the pre-sale contract, but the defendant refused.
In these circumstances the plaintiff retained Law Firm Changchun as counsel and brought an action to rescind the retail unit pre-sale contract concluded with the defendant.
Shortly after being served with the complaint, the defendant indicated that it would accept rescission of the pre-sale contract, refunding in full the down payment and interim payments the plaintiff had made.
After confirming that the loan obligations on the unit the plaintiff had purchased were fully extinguished, Law Firm Changchun took part throughout the drafting of the agreement providing for the withdrawal of the action, and our client ultimately achieved the same result as a complete victory.
This is the first case in which a pre-sale rescission action has been resolved by agreement. Law Firm Changchun will continue to offer the best solutions to clients facing difficulties in comparable situations.