1924th Book3 Title20 Chapter01

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 XX. Insurance.

Chapter I. General Provisions.

Section 984.

• A contract of insurance is a contract whereby a person agrees to make compensation or to pay a sum of money for a contingent in case of loss or any other event specified in the contract, and another person agrees to pay therefor a sum of money called premium.

- Redrafted by the Revising Committee, February 1924, P.43/165

- also Vol.87, P.87/25

- Thai translation: P.86/213

《Genealogies》

1. Draft of 1919: Ob.925
2. Code of January 1925: 861
3. Code of January 1929: 861

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.

- Commission of Codification, 8th June 1922, P.40/147

- Collaboration of Dr.James, 4th instalment, Sep.1923, P.41/111

- Redrafted by the Revising Committee, February 1924, P.43/165

- also Vol.87, P.87/25

- Thai translation: P.86/213

《Genealogies》

1. Draft of 1919: Ob.926
2. Code of January 1925: 862
3. Code of January 1929: 862

Section 986.

• If there is no insurable interest in the event insured against, the contract is void.

- Redrafted by the Revising Committee, February 1924, P.43/165

- Thai translation: P.86/215

《Genealogies》

1. Draft of 1919: -
2. Code of January 1925: 863
3. Code of January 1929: 863

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.

- Redrafted by the Revising Committee, February 1924, P.43/166

- also Vol.87, P.87/26

- Thai translation: P.86/215

《Genealogies》

1. Draft of 1919: Ob.947
2. Code of January 1925: 864
3. Code of January 1929: 864

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.

- Redrafted by the Revising Committee, February 1924, P.43/166

- also Vol.87, P.87/26

- Thai translation: P.86/215

《Genealogies》

1. Draft of 1919: Ob.944(I)
2. Code of January 1925: 865, 892
3. Code of January 1929: 865, 892

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.

- Redrafted by the Revising Committee, February 1924, P.43/166

- also Vol.87, P.87/26

- Thai translation: P.86/216

《Genealogies》

1. Draft of 1919: Ob.945
2. Code of January 1925: 866
3. Code of January 1929: 866

Section 990.

• A contract of insurance is void unless made in writing.

- Thai translation: P.86/216

《Genealogies》

1. Draft of 1919: Ob.927
2. Code of January 1925: -
3. 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.

- Redrafted by the Revising Committee, February 1924, P.43/167

- also Vol.87, P.87/27

- Thai translation: P.86/216

《Genealogies》

1. Draft of 1919: -
2. Code of January 1925: 867
3. Code of January 1929: 867

Section 992.

• Contracts of Maritime insurance remain under the provisions of the Maritime Law.

- Redrafted by the Revising Committee, February 1924, P.43/167

- also Vol.87, P.87/27

- Thai translation: P.86/217

《Genealogies》

1. Draft of 1919: -
2. Code of January 1925: 868
3. Code of January 1929: 868