1924th Book3 Title13 Chapter03

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

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".

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TITLE XIII. Pledge.

Chapter III. Enforcement of Pledge.

Section 860.

• If the obligation and accessories for which the pledge is security are not performed, the pledgee is entitled to have the pledge enforced in the manner described in the following sections.

- Thai translation: P.86/163

《Genealogies》

1. Draft of 1919: Ob.801
2. Code of January 1925: -
3. Code of January 1929: -

Section 861.

• [I] The pledgee must first notify the debtor by registered letter the debtor to perform the obligation and accessories within a reasonable time to be fixed in the notice.
• [II] If the debtor fails to comply with the notice, the pledgee can may sell the pledge by public auction.
• [III] The pledgee must notify the pledgor by registered letter of the day and time when, and of the place where, the auction shall will be held.

- Collaboration of Dr.James, 3rd instalment, August 1923, P.41/100

- Thai translation: P.86/164

《Genealogies》

1. Draft of 1919: Ob.802
2. Code of January 1925: 764
3. Code of January 1929: 764

Section 862.

• If notification is impossible, the pledgee can may sell the pledge by public auction after one month after from the time the obligation became due.

- Collaboration of Dr.James, 3rd instalment, August 1923, P.41/100

- Thai translation: P.86/164

《Genealogies》

1. Draft of 1919: Ob.803
2. Code of January 1925: 765
3. Code of January 1929: 765

Section 863.

• The buyer of a pledge duly sold by public auction acquires over it the same rights as if he had bought it from the owner.

- Thai translation: P.86/164

《Genealogies》

1. Draft of 1919: Ob.804
2. Code of January 1925: -
3. Code of January 1929: -

Section 864.

• If the pledge is a sum of money, the pledgee is entitled to appropriate it up to the amount of the obligation and accessories.

- Thai translation: P.86/164

《Genealogies》

1. Draft of 1919: Ob.805
2. Code of January 1925: 766
3. Code of January 1929: 766

Section 865.

• [I] The pledgee must appropriate the nett proceeds of the public auction or of his collection to the extinction of the obligation and accessories and must return the surplus, if any, to the pledgor.
• [II] If the proceeds are less than the amount due, the debtor of the obligation remains liable for the difference.

- Thai translation: P.86/165

《Genealogies》

1. Draft of 1919: Ob.807
2. Code of January 1925: 767
3. Code of January 1929: 767

Section 866.

• If several properties are pledged as security for one obligation, the pledgee can may sell such of them as he may select, but he can may not sell more than are required for the satisfaction of his claim.

- Collaboration of Dr.James, 3rd instalment, August 1923, P.41/100

- Thai translation: P.86/165

《Genealogies》

1. Draft of 1919: Ob.808
2. Code of January 1925: 768
3. Code of January 1929: 768

Section 867.

• As long as Before the obligation is not due, the pledgor can may not agree that the pledgee shall, in case of non-performance, become the owner of the pledge or dispose of it otherwise than as provided by this Chapter.

- Collaboration of Dr.James, 3rd instalment, August 1923, P.41/101

- Thai translation: P.86/165

《Genealogies》

1. Draft of 1919: Ob.809
2. Code of January 1925: 756
3. Code of January 1929: 756