계약금 분할지급 약정의 효력대상판결

The Effect of the Agreement of the Installment Payment of the Earnest Money

The Korean Civil Code presumes the earnest money as the cancellation fee: unless otherwise agreed upon between the parties, the deliverer by giving up such money, and the receiver by repaying double such money, may rescind such contract before one of the parties has initiated performance of the contract (Art. 565, para.1). Usually the earnest money is delivered in a lump sum. But, the parties may agree the installment payment of the earnest money. This paper aims to study the effect of the agreement of the installment payment of the earnest money. The author is of the opinion that the effect of the agreement of the installment payment is determined according to the intention of the parties and the binding force of the contract may be differentiated in accordance to the installment payment.