1924th Book3 Title12 Chapter01

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 XII. Mortgage.

Chapter I. General Provisions.

Section 781.

• [I] A contract of mortgage is a contract whereby a person, called the mortgagor, agrees to assign a property to another person, called the mortgagee, as security for the performance of an obligation, without delivering the property to the mortgagee.
• [II] The mortgagee is entitled to be paid out of the mortgaged property in preference to ordinary creditors and even though regardless as to whether or not the ownership of the property has been transferred to a third person.

- Collaboration of Dr.James, 2nd instalment, August 1923, P.41/90

- Thai translation: P.86/131

《Genealogies》

1. Draft of 1919: Ob.714
2. Code of January 1925: 702
3. Code of January 1929: 702

Section 782.

• [I] Immovables of any kind can be mortgaged.
• [II] The following movables can also be mortgaged, provided they are registered according to law:
  • (1) Ships or vessels having displacement of and over six tons and over, steam-launches or motor-boats having displacement of and over five tons and over.
  • (2) Floating houses.
  • (3) Beasts of burden.
  • (4) Any other movables for regard to which the law shall may provide registration to for that effect purpose.

- Decision of the High Committee, 2nd October 1923, P.42/42

- Collaboration of Dr.James, 2nd instalment, August 1923, P.41/90

- Thai translation: P.86/132

《Genealogies》

1. Draft of 1919: Ob.715
2. Code of January 1925: 703
3. Code of January 1929: 703

Section 783.

• A property which is not transferable cannot be mortgaged.

- Thai translation: P.86/132

《Genealogies》

1. Draft of 1919: Ob.716
2. Code of January 1925: -
3. Code of January 1929: -

Section 784.

• A contract of mortgage must specify the property mortgaged.

- Thai translation: P.86/133

《Genealogies》

1. Draft of 1919: Ob.717
2. Code of January 1925: 704
3. Code of January 1929: 704

Section 785.

• No property can be mortgaged except by its present owner.

- Thai translation: P.86/133

《Genealogies》

1. Draft of 1919: Ob.718
2. Code of January 1925: 705
3. Code of January 1929: 705

Section 786.

• A person whose right of ownership over a property is subject to a condition can may mortgage the such property but only subject to the same such condition.

- Collaboration of Dr.James, 2nd instalment, August 1923, P.41/91

- Thai translation: P.86/133

《Genealogies》

1. Draft of 1919: Ob.719
2. Code of January 1925: 706
3. Code of January 1929: 706

Section 787.

• A contract of mortgage may secure any obligation, even conditional or future.

- Thai translation: P.86/133

《Genealogies》

1. Draft of 1919: Ob.720
2. Code of January 1925: 707
3. Code of January 1929: 707

Section 788.

• A contract of mortgage is void or voidable according as to whether the obligation secured is void or voidable.

- Thai translation: P.86/133

《Genealogies》

1. Draft of 1919: Ob.721
2. Code of January 1925: -
3. Code of January 1929: -

Section 789.

• [I] A contract of mortgage must specify the obligation for the performance of which the mortgaged property is assigned as security, and its amount in Siamese currency.
• [II] If the obligation is unlimited, the parties shall fix the highest amount for which the mortgaged property is assigned as security.

- Thai translation: P.86/134

《Genealogies》

1. Draft of 1919: Ob.722
2. Code of January 1925: 708
3. Code of January 1929: 708

Section 790.

• A person may mortgage a property as security for the performance of an obligation by another person.

- Thai translation: P.86/134

《Genealogies》

1. Draft of 1919: Ob.723
2. Code of January 1925: 709
3. Code of January 1929: 709

Section 791.

• The performance of one and the same obligation may be secured by the mortgage of several properties belonging either to either one or to several owners.
• The parties may agree :
  • (1) that the mortgagee shall enforce his right against the mortgaged properties in a specified order.
  • (2) that each property is security only for a specified part of the obligation.

- Collaboration of Dr.James, 2nd instalment, August 1923, P.41/91

- Thai translation: P.86/134

《Genealogies》

1. Draft of 1919: Ob.724
2. Code of January 1925: 710
3. Code of January 1929: 710

Section 792.

• As long as the obligation is not due, the mortgagor cannot agree that the mortgagee shall, in case of non-performance, become the owner of the mortgaged property or dispose of it otherwise than in conformity with the provisions concerning enforcement of mortgage (Chapter IV).

- Thai translation: P.86/135

《Genealogies》

1. Draft of 1919: Ob.725
2. Code of January 1925: 711
3. Code of January 1929: 711

Section 793.

• [I] Notwithstanding any clause in the contract to the contrary, a property mortgaged to a one person can may be mortgaged to another person during the continuance of the previous contract.
• [II] But beasts of burden cannot be subjected to successive mortgages.

- Collaboration of Dr.James, 2nd instalment, August 1923, P.41/91

- Thai translation: P.86/135

《Genealogies》

1. Draft of 1919: Ob.726
2. Code of January 1925: 712
3. Code of January 1929: 712

Section 794.

• The parties to a contract of mortgage may agree that the obligation shall be performed by instalments.

- Thai translation: P.86/135

《Genealogies》

1. Draft of 1919: Ob.727
2. Code of January 1925: 713
3. Code of January 1929: 713

Section 795.

• A contract of mortgage must be made in writing in the presence of and registered by the competent official in accordance with the rules relating thereto.

- Thai translation: P.86/135

《Genealogies》

1. Draft of 1919: Ob.728
2. Code of January 1925: 714
3. Code of January 1929: 714