Book1 Division07 Title12 Chapter01

DRAFT: CIVIL AND COMMERCIAL CODE FOR KINGDOM OF SIAM.

• Its 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 XII. Pledge.

Section 776.

• A contract of pledge is a contract whereby a person, called the pledgor, agrees to deliver to another person, called the pledgee, a movable property, called pledge, as a security for the performance of an obligation to the pledgee.

《Genealogies》

1. Draft of April 1924: 836
2. Code of January 1925: 747

Section 777.

• A contract of pledge is complete only on delivery of the pledge.

《Genealogies》

1. Draft of April 1924: 837
2. Code of January 1925: -

Section 778.

• A property which is not transferable cannot be pledged.

《Genealogies》

1. Draft of April 1924: 838
2. Code of January 1925: -

Section 779.

• A movable property which is already mortgaged cannot be pledged.

《Genealogies》

1. Draft of April 1924: 839
2. Code of January 1925: -

Section 780.

• The pledge is security for the performance of the obligation and for the following accessories:
• (1) Interest, if any.
• (2) Compensation in case of non-performance of the obligation.
• (3) Costs of enforcement of the right of pledge.
• (4) Expenses for the preservation of the pledge.
• (5) Compensation for injury caused by non-apparent defects of the pledge.

《Genealogies》

1. Draft of April 1924: 840
2. Code of January 1925: 748

Section 781.

• The parties to a contract of pledge can agree that the pledge shall be kept by a third person.

《Genealogies》

1. Draft of April 1924: 841
2. Code of January 1925: 749

Section 782.

• [I] A property pledged to a person may be pledged to another person during the continuance of the first contract.
• [II] If the first pledgee has been notified in writing of the existence of the second contract of pledge, the following rules apply:
• (1) The first pledgee is bound, after the obligation due to him has been performed, to deliver the pledge to the second pledgee.
• (2) If the first pledgee has enforced the pledge and sold it by public auction, he must deliver to the second pledgee the surplus of the nett proceeds, if any.
• [III] If no notification in writing of the second contract of pledge has been made to the first pledgee, the first pledgee is under no obligation to the second pledgee.

《Genealogies》

1. Draft of April 1924: -
2. Code of January 1925: -

Section 783.

• If the pledge is a right represented by a written instrument, the contract of pledge is void unless such instrument be delivered to the pledgee and the contract of pledge be notified in writing to the debtor of the right.

《Genealogies》

1. Draft of April 1924: 842
2. Code of January 1925: 750

Section 784.

• Instruments to bearer may also be pledged by mere delivery.

《Genealogies》

1. Draft of April 1924: 843
2. Code of January 1925: -

Section 785.

• [I] If the instrument is transferable by indorsement, the contract of pledge is void unless the pledgor indorses such instrument to the pledgee and the indorsement shows that it was made for the purpose of pledge.
• [II] No notification to the debtor of such instrument is necessary.

《Genealogies》

1. Draft of April 1924: 844
2. Code of January 1925: 751

Section 786.

• [I]If the instrument is a share certificate or other such instrument issued to a named person and not transferable by indorsement, the contract of pledge is void unless such instrument is pledged by making on it a statement to that effect.
• [II] No notification to the debtor of such instrument is necessary.

《Genealogies》

1. Draft of April 1924: 845
2. Code of January 1925: 753

Section 787.

• If a pledged right becomes due before the obligation for which it is security is due, the debtor of such right must deliver to the pledgee the property due. The property delivered constitutes a pledge in lieu of the pledged right. If the property delivered is money, it shall be appropriated to the performance of the obligation.

《Genealogies》

1. Draft of April 1924: 846
2. Code of January 1925: 754

Section 788.

• If a right is pledged, it cannot be extinguished or modified to the injury of the pledgee without the consent of the pledgee.

《Genealogies》

1. Draft of April 1924: 847
2. Code of January 1925: 755

Section 789.

• [I] In the cases when a property is pledged by a person other than its owner, the contract is voidable unless the pledgee has received the pledge believing in good faith that the pledgor is the owner, or unless the owner authorizes or ratifies the contract, or unless the pledgor becomes owner of the property.
• [II] If the property pledged is a property lost or a property obtained through an offence or the pledging of which constitutes an offence, the contract of pledge is void.

《Genealogies》

1. Draft of April 1924: 848
2. Code of January 1925: -

Section 790.

• If a person who has pledged property as a security for the performance of an obligation by another person performs the obligation, he is entitled to recover from that person the amount of the performance.

《Genealogies》

1. Draft of April 1924: 849
2. Code of January 1925: -

Section 791.

• If a person has pledged property as a security for the performance of an obligation by another person and the pledge is enforced, the owner of the pledge is entitled to recover from such person the amount up to which the pledgee has been satisfied by such enforcement.

《Genealogies》

1. Draft of April 1924: 850
2. Code of January 1925: -

Section 792.

• The provisions of this Title XII apply to contracts of pledge entered into with licensed pawnbrokers only in so far as they are not contrary to the laws or regulations concerning pawnbrokers.

《Genealogies》

1. Draft of April 1924: 851
2. Code of January 1925: 757