1924th Book3 Title19

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 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: -