Book3 Title21 Chapter02 Part07 01
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 VII. Acceptance or Payment for Honour.
1. Acceptance for Honour.
Section 1097.
- If the drawee has failed to accept the bill of exchange, any person may, with the consent of the holder, accept the bill for the honour of any party liable thereon.
《Genealogies》
Section 1098.
- The holder cannot refuse acceptance offered by a referee in case of need.
- If he refuses it he loses his right of recourse against the prior parties.
《Genealogies》
Section 1099.
- Acceptance by a referee in case of need or by a third person is called acceptance for honour.
《Genealogies》
- Draft of 1919: Ob.1030
- Code of January 1925: -
- Code of January 1929: -
Section 1100.
- An acceptance for honour is made by a declaration of acceptance on the bill of exchange with the signature of the acceptor.
《Genealogies》
Section 1101.
- If the acceptor for honour does not designate in the bill of exchange the person for whom he accepts, the acceptance is deemed to have been made for the honour of the drawer.
《Genealogies》
Section 1102.
- When a bill of exchange payable at the end of a period after sight is accepted for honour, its maturity is calculated from the date of such acceptance.
《Genealogies》
- Draft of 1919: Ob.1033
- Code of January 1925: -
- Code of January 1929: -
Section 1103.
- [I] If the drawee fails to pay the bill of exchange, the acceptor for honour is liable to the holder and to the parties subsequent to the person for whose honour he has accepted, for any amount unpaid on the bill up to the amount of his acceptance together with the expenses.
- [II] But he is exempted from such liability if the holder fails :
- (1) To present the bill for payment on maturity to the drawee, and
- (2) To present the bill for payment to the acceptor for honour not later than the day following the day of maturity, and
- (3) To send a protest to the drawee within the proper time.
《Genealogies》
Section 1104.
- Sections <
1002>[1071] to <1007>[1076] apply to acceptance for honour.
《Genealogies》
- Draft of 1919: Ob.1035
- Code of January 1925: -
- Code of January 1929: -
