1924th Book3 Title19

DRAFT: CIVIL AND COMMERCIAL CODE FOR KINGDOM OF SIAM. (April 1924)

BOOK III ON SPECIFIC CONTRACTS. (April 1924)

• The following text of the Draft for the Book III of the "Civil and Commercial Code for the Kingdom of Siam" was reconstructed from the Documents in Vols. 40, 41, 42, 43, 44, 45, 46, 47, 86, 87, 88, and 89 of “The Archives of the History of Thai Codification”.
• For the details, please, refer to the page of "Introduction" and the "Introductory Notes" to the "Reconstructed Book III on Specific Contracts".

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TITLE XIX. Current Account.

Section 975.

• A contract of current account is a contract whereby two persons agree that transactions between them shall be entered in a separate account and that from time to time the respective obligations shall be set off and only the difference paid.

- Thai translation: P.86/210

《Genealogies》

1. Draft of 1919: Ob.916
2. Code of January 1925: 856
3. Code of January 1929: 856

Section 976.

• The parties can may agree to have several current accounts at the same time.

- Collaboration of Dr.James, 4th instalment, September1923, P.41/110

- Thai translation: P.86/210

《Genealogies》

1. Draft of 1919: Ob.917
2. Code of January 1925: -
3. Code of January 1929: -

Section 977.

• The entry of a bill in a current account is presumed to be made on condition that the bill will be paid. If the bill is not paid, the entry may be cancelled.

- Thai translation: P.86/210

《Genealogies》

1. Draft of 1919: Ob.918
2. Code of January 1925: 857
3. Code of January 1929: 857

Section 978.

• A surety for a party to a current account guarantees the payment of the difference due by him when the balance is struck.

- Thai translation: P.86/212

《Genealogies》

1. Draft of 1919: Ob.919
2. Code of January 1925: -
3. Code of January 1929: -

Section 979.

• The balance must be struck at the time agreed by the parties. If no time has been agreed, the balance must be struck at the time fixed by the custom.

- Thai translation: P.86/212

《Genealogies》

1. Draft of 1919: Ob.920
2. Code of January 1925: 858
3. Code of January 1929: 858

Section 980.

• Either party can may at any time determine the contract of current account and have the balance struck.

- Collaboration of Dr.James, 4th instalment, September 1923, P.41/110

- also Vol.87, P.87/23

- Thai translation: P.86/212

《Genealogies》

1. Draft of 1919: Ob.921
2. Code of January 1925: 859
3. Code of January 1929: 859

Section 981.

• The contract of current account is extinguished and the balance must be struck when one party dies or becomes incapacitated.

- Thai translation: P.86/212

《Genealogies》

1. Draft of 1919: Ob.922
2. Code of January 1925: -
3. Code of January 1929: -

Section 982.

• The difference, if not paid, bears interest from the day when the balance was struck.

- Thai translation: P.86/212

《Genealogies》

1. Draft of 1919: Ob.923
2. Code of January 1925: 860
3. Code of January 1929: 860

Section 983.

• The obligations, resulting from a current account are extinguished by prescription five years after the balance was struck.

- Thai translation: P.86/213

《Genealogies》

1. Draft of 1919: Ob.924
2. Code of January 1925: -
3. Code of January 1929: -