Book3 Title21 Chapter02 Part03
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 XXI. Bills.
Chapter II. Bills of Exchange.
Part III. Transfer and Indorsement.
Section 1051.
- A bill of exchange issued to a named payee may be transferred by indorsement unless the drawer of the bill has inserted in it a clause forbidding indorsement.
《Genealogies》
- Draft of 1919: Ob.982
- Code of January 1925: 917(II)(III)
- Code of January 1929: 917(II)(III)
Section 1052.
- A bill of exchange payable to bearer is transferred by mere delivery. It may be also transferred by indorsement.
《Genealogies》
Section 1053.
- Any person, even if drawer, acceptor or prior indorser, who acquires a bill of exchange by indorsement, may again transfer it by indorsement.
《Genealogies》
Section 1054.
- An indorsement is made by writing the name or trade name of the indorsee on the bill of exchange, with the signature of the indorser.
《Genealogies》
- Draft of 1919: Ob.985
- Code of January 1925: -
- Code of January 1929: -
Section 1055.
- An indorsement may also be made by the mere signature of the indorser on the back of the bill of exchange. Such indorsement is called blank indorsement.
《Genealogies》
Section 1056.
- [I] A bill of exchange bearing a blank indorsement may be transferred by mere delivery.
- [II] Any holder of a bill bearing a blank indorsement can fill up the indorsement.
《Genealogies》
Section 1057.
- When a bill of exchange payable to bearer has been transferred by indorsement, the bill ceases to be payable to bearer until it is indorsed to bearer or indorsed in blank.
《Genealogies》
Section 1058.
- An indorser may, in indorsing the bill of exchange, insert a referee in case of need at the place of payment.
《Genealogies》
- Draft of 1919: Ob.989
- Code of January 1925: -
- Code of January 1929: -
Section 1059.
- Indorsement must be for the whole amount of the bill of exchange. A partial indorsement is void.No rights can be exercised under a forged bill by a person who acquired it or became a party to it in bad faith or without such care as may be expected from a person of ordinary prudence.
《Genealogies》
Section 1060.
- The indorser of a bill of exchange engages that it shall be accepted and paid according to its tenor and that, if it be dishonoured by non-acceptance or non-payment, he will pay it to the holder or to a subsequent indorser who has been compelled to pay it, provided that the requisite proceeding on non-acceptance or non-payment be duly taken.
《Genealogies》
- Draft of 1919: Ob.991
- Code of January 1925: -
- Code of January 1929: -
Section 1061.
- An indorser may, in indorsing the bill of exchange, specify that he assumes no liability or only a limited liability under the bill.
《Genealogies》
- Draft of 1919: Ob.992
- Code of January 1925: -
- Code of January 1929: -
Section 1062.
- If an indorser specifies that he forbids further indorsements, he incurs no liability under the bill of exchange to subsequent indorsers.
《Genealogies》
Section 1063.
- If the holder of a bill of exchange indorses it after the time for protest for non-acceptance or non-payment has elapsed, the indorsee acquires only the rights of his indorser.
《Genealogies》
Section 1064.
- A holder can by indorsement pledge the bill of exchange or give an authority to another person to collect it. The purpose of such indorsement must be stated on the bill.
《Genealogies》
Section 1065.
- Whenever a bill of exchange has been indorsed for pledge or collection, the indorsee cannot indorse it, except for the same purpose.
《Genealogies》
