Book3 Title20 Chapter01
From Thai Codification Draft of 1924
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 XX. Insurance.
Chapter I. General Provisions.
Section 984.
- A contract of insurance is a contract whereby a person agrees to make compensation for a contingent loss and another person agrees to pay therefor a sum of money called premium.
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Section 985.
- [I] [In the present Title:]
- ["insurer" means the]<
The> party who agrees to make compensation <is called the underwriter.>[or to pay a sum of money;] - ["assured" means the]<
The> party who agrees to pay the premium <is called the insurer.>[;] - ["beneficiary" means the]<
The> person who is to receive compensation <is called the insured>[or to be paid a sum of money]. - [II] [The assured and the beneficiary may be one and the same person.]
《Genealogies》
Section 986.
- [ถ้าในเหตุที่ทำสัญญาประกันภัยกันนั้น หามูลประกันภัยกันมิได้ไซร้ สัญญาอันนั้น ท่านว่าย่อมเปนโมฆะ]
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Section 987.
- When the parties to a contract of insurance <
on life>, in fixing the amount of the premium, took into consideration a particular risk, and such risk ceases to exist, the <insurer>[assured] is entitled to have the premium reduced proportionately [for the future].
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Section 988.
- If at the time of making the contract <
of insurance on life>[the assured, or, in case of insureance on life,] the person upon whose life or death the payment of the sum payable depends knowingly omits to disclose facts which would have induced the <underwriter>[insurer] to raise the premium or to refuse to enter into the contract, or knowingly makes false statements in regard to such facts, the contract is voidable. - <
But the underwriter must return to the insurer or to his heirs the redemption value of the policy.>
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Section 989.
- If the <
underwriter>[insurer] knew of the facts mentioned in Section 944 or knew the statements to be false, or would have known of them or of their falsity if he had exercised such care as may be expected from a person of ordinary prudence, the contract shall be valid.
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Section 990.
- A contract of insurance is void unless made in writing.
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- Draft of 1919: Ob.927
- Code of January 1925: -
- Code of January 1929: -
Section 991.
- [I] [A policy of insurance shall be made in two copies at least, one of them having to be delivered to the assured.]
- [II] [The policy must be signed by the insurer and contain:
- 1) The subject of the insurance;
- 2) The risk taken by the insurer;
- 3) The value of the insurable interest, if it has been fixed;
- 4) The sum insured;
- 5) The amount of the premium and manner of its payment;
- 6) The time of the commencement and of the end of the insurance;
- 7) The name or trade name of the insurer;
- 8) The name or trade name of the assured;
- 9) The name of the beneficiary, if any;
- 10) The date of the contract of insurance.
- 11) The place where, and the date when, the policy was made.]
《Genealogies》
Section 992.
- [Contracts of Maritime insurance remain under the provisions of the Maritime Law.]
《Genealogies》
