Book3 Title01 Chapter04 Part04

DRAFT: CIVIL AND COMMERCIAL CODE FOR KINGDOM OF SIAM

BOOK III ON SPECIFIC CONTRACTS. (April 1924)

• Reconstructed from the Documents in Vols. 86, 87, 88, and 89 of “The Archives of the History of Thai Codification”.
• For the details, please, refer to the "Introductory Notes" to the "Reconstructed Book III on Specific Contracts".

TITLE I. Sale.

Chapter IV. Of some particular kinds of Sales.

Section 518.

• A sale by auction is complete when the auctioneer announces its completion by the fall of the hammer or in any other customary manner.

《Genealogies》

1. Draft of 1919: Ob.453
2. Code of January 1925: 509
3. Code of January 1929: 509

Section 519.

• A buyer at a sale by auction is bound by the clauses of the notice advertising the sale and by any other statements made by the auctioneer before opening the bidding for each particular lot.

《Genealogies》

1. Draft of 1919: Ob.454
2. Code of January 1925: 510
3. Code of January 1929: 510

Section 520.

• The auctioneer cannot bid at an auction conducted by himself.

《Genealogies》

1. Draft of 1919: Ob.455
2. Code of January 1925: 511
3. Code of January 1929: 511

Section 521.

• The seller cannot bid or employ any person to bid, unless it be expressly stated in the advertisement of the auction that he has such right.
• <The seller within the meaning of this section is the person whose property is sold.>

《Genealogies》

1. Draft of 1919: Ob.456
2. Code of January 1925: 512
3. Code of January 1929: 512

Section 522.

• The auctioneer can withdraw property from the auction whenever he thinks that the highest bid is insufficient.

《Genealogies》

1. Draft of 1919: Ob.457
2. Code of January 1925: 513
3. Code of January 1929: 513

Section 523.

• A bidder ceases to be bound by his bid as soon as a higher bid is made, whatever be the validity of such higher bid, or as soon as the lot is withdrawn from the auction.

《Genealogies》

1. Draft of 1919: Ob.458
2. Code of January 1925: 514
3. Code of January 1929: 514

Section 524.

• The highest bidder must pay the price in ready money on the completion of the sale, or at the time fixed by the notice advertising the sale.

《Genealogies》

1. Draft of 1919: Ob.459
2. Code of January 1925: 515
3. Code of January 1929: 515

Section 525.

• If the highest bidder fails to pay the price, the auctioneer shall resell the property. If the nett proceeds of such sale do not cover the price and costs of the original auction, the original bidder is liable for the difference.

《Genealogies》

1. Draft of 1919: Ob.460
2. Code of January 1925: 516
3. Code of January 1929: 516

Section 526.

• The auctioneer is liable for any part of the proceeds of an auction which remains unpaid owing to his failure to enforce the provisions of Section <459>[524] or <460>[525].

《Genealogies》

1. Draft of 1919: Ob.461
2. Code of January 1925: 517
3. Code of January 1929: 517