Book1 Division07 Title11 Chapter01
From Thai Codification Draft of 1919
DRAFT: CIVIL AND COMMERCIAL CODE FOR KINGDOM OF SIAM.
- The today existing (probably) only copy of its publication is in possession of the main library of Bangkok University. The detailed information and images of the original sources are available on the Centennial Website.
- The detailed information about the genealogical relations between the Draft 1919, Codes of 1923, Codes of 1925, and Code of 1992 is available at the "French Advisers' Heritage".
BOOK ON OBLIGATIONS.
DIVISION VII. SPECIFIC CONTRACTS.
TITLE XI. Mortgage.
Chapter I. General Provisions.
Section 714.
- [I] A contract of mortgage is a contract whereby a person, called the mortgagor, agrees to assign a property to another person, called the mortgagee, as security for the performance of an obligation, without delivering the property to the mortgagee.
- [II] The mortgagee is entitled to be paid out of the mortgaged property in preference to ordinary creditors and even though the ownership of the property has been transferred to a third person.
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Section 715.
- [I] Immovables of any kind can be mortgaged.
- [II] The following movables can also be mortgaged, provided they are registered according to law:
- (1) Ships or vessels having displacement of and over six tons, steam-launches or motor-boats having displacement of and over five tons.
- (2) Floating houses.
- (3) Beasts of burden.
- (4) Any other movables for which the law shall provide registration to that effect.
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Section 716.
- A property which is not transferable cannot be mortgaged.
《Genealogies》
- Draft of April 1924: 783
- Code of January 1925: -
Section 717.
- A contract of mortgage must specify the property mortgaged.
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Section 718.
- No property can be mortgaged except by its present owner.
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Section 719.
- A person whose right of ownership over a property is subject to a condition, can mortgage the property only subject to the same condition.
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Section 720.
- A contract of mortgage may secure any obligation, even conditional or future.
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Section 721.
- A contract of mortgage is void or voidable according as to whether the obligation secured is void or voidable.
《Genealogies》
- Draft of April 1924: 788
- Code of January 1925: -
Section 722.
- [I] A contract of mortgage must specify the obligation for the performance of which the mortgaged property is assigned as security, and its amount in Siamese currency.
- [II] If the obligation is unlimited, the parties shall fix the highest amount for which the mortgaged property is assigned as security.
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Section 723.
- A person may mortgage a property as security for the performance of an obligation by another person.
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Section 724.
- The performance of one and the same obligation may be secured by the mortgage of several properties belonging to either one or several owners.
- The parties may agree :
- (1) that the mortgagee shall enforce his right against the mortgaged properties in a specified order.
- (2) that each property is security only for a specified part of the obligation.
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Section 725.
- As long as the obligation is not due, the mortgagor cannot agree that the mortgagee shall, in case of non-performance, become the owner of the mortgaged property or dispose of it otherwise than in conformity with the provisions concerning enforcement of mortgage (Chapter IV).
《Genealogies》
Section 726.
- [I] Notwithstanding any clause in the contract to the contrary, a property mortgaged to a person can be mortgaged to another person during the continuance of the previous contract.
- [II] But beasts of burden cannot be subjected to successive mortgages.
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Section 727.
- The parties to a contract of mortgage may agree that the obligation shall be performed by instalments.
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Section 728.
- A contract of mortgage must be made in writing in the presence of and registered by the competent official in accordance with the rules relating thereto.
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