Successful Claim for Refund of Business Transfer Payment After Seller Failed to Complete Name Transfer
- Client Information
- Individual / Plaintiff
- Case Details
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The client entered into a business transfer agreement to acquire a franchised restaurant in Korea. The transfer price included goodwill, the lease deposit, and inventory-related costs, and the client paid the amount in installments.
Under the agreement, the seller was required to transfer the business name and related operating status once the full payment was completed. However, even after the client paid the final installment, the name transfer was not completed.
It later became clear that, after the agreement was signed, a provisional attachment had been placed on the seller’s right to receive the return of the lease deposit. Because this issue remained unresolved, the business name transfer was also delayed.
Despite repeated requests from the client, the seller continued to state that the issue would be resolved soon, but no meaningful action was taken for several months after full payment.
The client then gave the seller a final notice through KakaoTalk, setting a deadline for performance and stating that the agreement would be rescinded if the seller failed to perform by that deadline.
When the seller still failed to take action, the client confirmed the rescission of the agreement and filed a claim for the return of the transfer payment.
