Book3 Title12 Chapter01

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DRAFT: CIVIL AND COMMERCIAL CODE FOR KINGDOM OF SIAM

BOOK III ON SPECIFIC CONTRACTS. (April 1924)

TITLE XII. Mortgage.

Chapter I. General Provisions.

Section 781.
  • [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>[regardless as to whether or not] the ownership of the property has been transferred to a third person.

《Genealogies》

  1. Draft of 1919: Ob.714
  2. Code of January 1925: 702
  3. Code of January 1929: 702
Section 782.
  • [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 [and over], steam-launches or motor-boats <having displacement> of <and over> five tons [and over].
  • (2) Floating houses.
  • (3) Beasts of burden.
  • (4) Any other movables <for>[regard to] which the law shall provide registration <to>[for] that <effect>[purpose].

《Genealogies》

  1. Draft of 1919: Ob.715
  2. Code of January 1925: 703
  3. Code of January 1929: 703
Section 783.
  • A property which is not transferable cannot be mortgaged.

《Genealogies》

  1. Draft of 1919: Ob.716
  2. Code of January 1925: -
  3. Code of January 1929: -
Section 784.
  • A contract of mortgage must specify the property mortgaged.

《Genealogies》

  1. Draft of 1919: Ob.717
  2. Code of January 1925: 704
  3. Code of January 1929: 704
Section 785.
  • No property can be mortgaged except by its present owner.

《Genealogies》

  1. Draft of 1919: Ob.718
  2. Code of January 1925: 705
  3. Code of January 1929: 705
Section 786.
  • A person whose right of ownership over a property is subject to a condition, can mortgage the property only subject to the same condition.

《Genealogies》

  1. Draft of 1919: Ob.719
  2. Code of January 1925: 706
  3. Code of January 1929: 706
Section 787.
  • A contract of mortgage may secure any obligation, even conditional or future.

《Genealogies》

  1. Draft of 1919: Ob.720
  2. Code of January 1925: 707
  3. Code of January 1929: 707
Section 788.
  • A contract of mortgage is void or voidable according as to whether the obligation secured is void or voidable.

《Genealogies》

  1. Draft of 1919: Ob.721
  2. Code of January 1925: -
  3. Code of January 1929: -
Section 789.
  • [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.

《Genealogies》

  1. Draft of 1919: Ob.722
  2. Code of January 1925: 708
  3. Code of January 1929: 708
Section 790.
  • A person may mortgage a property as security for the performance of an obligation by another person.

《Genealogies》

  1. Draft of 1919: Ob.723
  2. Code of January 1925: 709
  3. Code of January 1929: 709
Section 791.
  • The performance of one and the same obligation may be secured by the mortgage of several properties belonging <to> either [to] one or [to] 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.

《Genealogies》

  1. Draft of 1919: Ob.724
  2. Code of January 1925: 710
  3. Code of January 1929: 710
Section 792.
  • 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>[V]).

《Genealogies》

  1. Draft of 1919: Ob.725
  2. Code of January 1925: 711
  3. Code of January 1929: 711
Section 793.
  • [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.

《Genealogies》

  1. Draft of 1919: Ob.726
  2. Code of January 1925: 712
  3. Code of January 1929: 712
Section 794.
  • The parties to a contract of mortgage may agree that the obligation shall be performed by instalments.

《Genealogies》

  1. Draft of 1919: Ob.727
  2. Code of January 1925: 713
  3. Code of January 1929: 713
Section 795.
  • 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.

《Genealogies》

  1. Draft of 1919: Ob.728
  2. Code of January 1925: 714
  3. Code of January 1929: 714