Book 3 — Specific Contracts
Sale, hire, loan, deposit, suretyship, mortgage, agency, insurance, partnerships.
Sections 453–1297
Annotated sections in this Book
- §453 Sale — definition A sale is a contract by which the seller transfers ownership of property to the buyer for a price in money.
- §454
- §455
- §456 Sale of immovable — registered writing required A sale of immovable property is void unless made in writing and registered at the Land Office. The same applies to ships of six tons…
- §457
- §458 Transfer of ownership in sale Ownership of the property sold passes to the buyer at the moment the contract is made — unless the contract or the law requires a…
- §459
- §460
- §461
- §462
- §463
- §464
- §465
- §466
- §467
- §468
- §469
- §470
- §471
- §472
- §473
- §474
- §475
- §476
- §477
- §478
- §479
- §480
- §481
- §482
- §483
- §484
- §485
- §486
- §487
- §488
- §489
- §490
- §491 Sale with right of redemption (Khai Fak) A sale in which the seller reserves the right to redeem (buy back) the property within an agreed period — at most 10 years for…
- §492
- §493
- §494
- §495
- §496
- §497
- §498
- §499
- §500
- §501
- §502
- §503
- §504
- §505
- §506
- §507
- §508
- §509
- §510
- §511
- §512
- §513
- §514
- §515
- §516
- §517
- §518
- §519
- §520
- §521 Gift — definition Gift — definition.
- §522
- §523
- §524
- §525 Gift of immovable — registered writing required Gift of immovable — registered writing required.
- §526
- §527
- §528
- §529
- §530
- §531 Revocation of gift for ingratitude Revocation of gift for ingratitude.
- §532
- §533
- §534
- §535 Revocation of gift for ingratitude The donor may revoke a gift if the donee commits a serious act of ingratitude — assault on the donor, defamation, criminal harm, or failure…
- §536
- §537 Hire of property (lease) — definition A lease is a contract by which one party (lessor) gives the other (lessee) the use or benefit of property for a stipulated time, in…
- §538 Lease over 3 years requires registration A lease of immovable property for more than 3 years, or for the life of the lessee or lessor, must be in writing and registered…
- §539
- §540 Maximum lease term — 30 years for immovables A lease of immovable property cannot exceed 30 years. Any longer term is automatically reduced to 30. Parties can agree to renew, but renewals require…
- §541
- §542
- §543
- §544
- §545
- §546
- §547
- §548
- §549
- §550
- §551
- §552
- §553
- §554
- §555
- §556
- §557
- §558
- §559
- §560
- §561
- §562
- §563
- §564
- §565
- §566 Subletting requires lessor's consent Subletting requires lessor's consent.
- §567
- §568
- §569
- §570
- §571 If a paddy land lease ends after the tenant has already planted rice, the tenant retains the right to remain in possession and harvest the…
- §572 Hire-purchase — definition Hire-purchase — definition.
- §573
- §574
- §575 Hire of services (employment contract) — definition A hire of services is a contract by which an employee agrees to work for an employer for the duration of the services, in exchange…
- §576
- §577
- §578
- §579
- §580
- §581
- §582 Termination of open-ended employment: notice requirements Where no fixed duration is agreed, either party may terminate by giving notice at or before a payment date, to take effect at the next…
- §583 Summary dismissal for serious misconduct An employer may dismiss an employee without notice or compensation where the employee wilfully disobeys or habitually neglects lawful commands, absents without leave, commits gross…
- §584
- §585
- §586
- §587 Hire of services — definition Hire of services — definition.
- §588
- §589
- §590
- §591
- §592
- §593
- §594
- §595
- §596
- §597 Termination of employment Termination of employment.
- §598
- §599
- §600
- §601
- §602
- §603
- §604
- §605
- §606
- §607
- §608
- §609
- §610
- §611
- §612
- §613
- §614
- §615
- §616
- §617
- §618
- §619
- §620
- §621
- §622
- §623
- §624
- §625
- §626
- §627
- §628
- §629
- §630
- §631
- §632
- §633
- §634
- §635
- §636
- §637
- §638
- §639
- §640 Loan for use — definition Loan for use — definition.
- §641
- §642
- §643
- §644
- §645
- §646
- §647
- §648
- §649
- §650 Loan for consumption — definition Loan for consumption — definition.
- §651
- §652
- §653 Loan over 2,000 baht — writing required A loan of money exceeding 2,000 baht cannot be enforced unless there is written evidence signed by the borrower.
- §654 Interest cap — 15% per annum Interest on a money loan may not exceed 15% per annum. Any excess is criminal (charging illegal interest) and the excess is automatically void.
- §655
- §656
- §657 Deposit — definition Deposit — definition.
- §658
- §659
- §660
- §661
- §662
- §663
- §664
- §665
- §666
- §667
- §668
- §669
- §670
- §671
- §672
- §673
- §674
- §675
- §676
- §677
- §678
- §679
- §680 Suretyship — definition Suretyship is a contract by which a third party (the surety) promises the creditor to pay the debtor's obligation if the debtor fails to perform.
- §681 Suretyship is valid only for an existing valid obligation. A future or conditional debt may be guaranteed, but the guarantee must specify the purpose, nature…
- §681/1
- §682 Suretyship — writing required Suretyship — writing required.
- §683 An unlimited suretyship covers all interest and damages owed by the debtor, as well as all accessory obligations of the principal debt — not merely…
- §684
- §685
- §685/1
- §686 As amended in 2014, when a debtor defaults the creditor must give written notice to the surety within 60 days of the debtor's default. Failure…
- §687
- §688
- §689
- §690
- §691
- §692
- §693
- §694
- §695
- §696
- §697
- §698
- §699
- §700 As amended in 2014, a surety is released from liability if the creditor agrees to extend time for payment to the debtor without the surety's…
- §701
- §702 Mortgage — definition A mortgage is a contract by which one person (mortgagor) assigns property to another (mortgagee) as security for an obligation, without delivering the property.
- §703
- §704
- §705
- §706
- §707
- §708
- §709
- §710
- §711
- §712
- §713
- §714 Mortgage — registered writing required A mortgage of immovable property is void unless made in writing and registered at the Land Office. The mortgage deed must specify the secured debt…
- §714/1
- §715
- §716
- §717
- §718
- §719
- §720
- §721
- §722
- §723
- §724
- §725
- §726
- §727
- §727/1
- §728 Notice before foreclosure of mortgage Before suing to foreclose a mortgage, the lender must first send the borrower a written demand giving a reasonable time to pay. Only if that…
- §729
- §729/1
- §730
- §731
- §732
- §733 Mortgagee's right limited to mortgaged property On default, the mortgagee can only execute against the mortgaged property — not the mortgagor's other assets — unless the mortgage agreement expressly says otherwise.
- §734
- §735
- §736
- §737
- §738
- §739
- §740
- §741
- §742
- §743
- §744
- §745
- §746
- §747 Pledge — definition A pledge is a contract by which a person delivers movable property to another as security for the performance of an obligation.
- §748
- §749
- §750
- §751
- §752
- §753
- §754
- §755
- §756
- §757
- §758
- §759
- §760 If the pledgee uses the pledged property without the pledgor's consent, or allows a third party to do so, the pledgee bears strict liability for…
- §761
- §762
- §763
- §764
- §765
- §766
- §767
- §768
- §769
- §770 When the debtor defaults, the pledgee may enforce the pledge by selling the pledged property at public auction after giving the pledgor prior notice. The…
- §771
- §772
- §773
- §774
- §775
- §776
- §777
- §778
- §779
- §780
- §781
- §782
- §783
- §784
- §785
- §786
- §787
- §788
- §789
- §790
- §791
- §792
- §793
- §794
- §795
- §796
- §797 Agency — definition Agency is a contract by which one person (the agent) is authorized to act on behalf of another (the principal) and bind them legally.
- §798 Power of attorney — form Power of attorney — form.
- §799
- §800
- §801
- §802
- §803
- §804
- §805
- §806
- §807 Agent's duty to follow instructions The agent must follow the principal's lawful instructions. If circumstances require deviation, the agent must consult the principal where practicable.
- §808
- §809
- §810
- §811
- §812
- §813
- §814
- §815
- §816
- §817
- §818
- §819
- §820 Principal's liability to third parties The principal is bound by acts of the agent within the scope of authority, including apparent authority that the principal led the third party to…
- §821 Ostensible (apparent) agency A person who holds out another as his agent, or knowingly allows another to hold himself out as agent, is liable to good-faith third parties…
- §822
- §823
- §824
- §825
- §826
- §827
- §828
- §829
- §830
- §831
- §832
- §833
- §834
- §835
- §836
- §837
- §838
- §839
- §840
- §841
- §842
- §843
- §844
- §845
- §846
- §847
- §848
- §849
- §850 Compromise — definition Compromise — definition.
- §851
- §852 Compromise — effect on the parties A compromise agreement extinguishes the original obligation and substitutes the new obligations created by the compromise.
- §853
- §854
- §855
- §856 Current account (compte courant) — definition A current account contract is an agreement by which two persons agree that all or part of the debts arising from their dealings shall be…
- §857
- §858
- §859
- §860
- §861 Insurance — definition Insurance — definition.
- §862
- §863 Insurance — insurable interest required Insurance — insurable interest required.
- §864
- §865
- §866
- §867 An insurance contract is not enforceable unless evidenced in writing signed by the party liable or their agent. The insurer must also deliver an insurance…
- §868
- §869
- §870
- §871
- §872
- §873
- §874
- §875
- §876
- §877
- §878
- §879
- §880 Subrogation of insurer Subrogation of insurer.
- §881
- §882
- §883
- §884
- §885
- §886
- §887 Liability insurance — definition and direct action Liability insurance (ประกันภัยค้ำจุน) is insurance under which the insurer agrees to indemnify the insured for damages the insured must pay to a third party. The…
- §888
- §889
- §890
- §891
- §892
- §893
- §894
- §895
- §896
- §897
- §898 Bill of exchange — definition Bill of exchange — definition.
- §899
- §900 Liability of signatories to negotiable instruments Any person who signs a negotiable instrument is liable according to its tenor. A mark (such as a fingerprint or seal) purporting to be a…
- §901
- §902
- §903
- §904 Holder of a negotiable instrument — definition A 'holder' of a negotiable instrument means the person who has possession of it as payee or as endorsee; in the case of a bearer…
- §905
- §906
- §907
- §908
- §909
- §910
- §911
- §912
- §913
- §914
- §915
- §916
- §917
- §918
- §919
- §920
- §921
- §922
- §923
- §924
- §925
- §926
- §927
- §928
- §929
- §930
- §931
- §932
- §933
- §934
- §935
- §936
- §937
- §938
- §939
- §940
- §941
- §942
- §943
- §944
- §945
- §946
- §947
- §948
- §949
- §950
- §951
- §952
- §953
- §954
- §955
- §956
- §957
- §958
- §959
- §960
- §961
- §962
- §963
- §964
- §965
- §966
- §967
- §968
- §969
- §970
- §971
- §972
- §973
- §974
- §975
- §976
- §977
- §978
- §979
- §980
- §981
- §982
- §983
- §984
- §985
- §986
- §987 Cheque — definition Cheque — definition.
- §988
- §989
- §990
- §991
- §992
- §993
- §994
- §995
- §996
- §997
- §998
- §999
- §1000 A bank that in good faith and without negligence collects a crossed cheque for a customer who has no right or a defective right to…
- §1001
- §1002
- §1003
- §1004
- §1005
- §1006
- §1007
- §1008
- §1009
- §1010
- §1011
- §1012 Partnership / company contract — definition Two or more persons may enter into a contract to combine resources for a common undertaking and share the profits resulting from it.
- §1013
- §1014
- §1015 Acquisition of juristic personality Acquisition of juristic personality.
- §1016
- §1017
- §1018
- §1019
- §1020
- §1020/1
- §1021
- §1022
- §1023
- §1023/1
- §1024
- §1025
- §1026
- §1027
- §1028
- §1029
- §1030
- §1031
- §1032
- §1033
- §1034
- §1035
- §1036
- §1037
- §1038
- §1039
- §1040
- §1041
- §1042
- §1043
- §1044
- §1045
- §1046
- §1047
- §1048
- §1049
- §1050
- §1051
- §1052
- §1053
- §1054
- §1055
- §1056
- §1057
- §1058
- §1059
- §1060
- §1061
- §1062
- §1063
- §1064
- §1064/1
- §1064/2
- §1065
- §1066
- §1067
- §1068
- §1069
- §1070
- §1071
- §1072
- §1073
- §1074
- §1075
- §1076
- §1077
- §1078
- §1078/1
- §1078/2
- §1079
- §1080
- §1081
- §1082
- §1083
- §1084
- §1085
- §1086
- §1087
- §1088
- §1089
- §1090
- §1091
- §1092
- §1093
- §1094
- §1095
- §1096 Limited company — definition A limited company is a company formed with capital divided into shares of equal value, where each shareholder's liability is limited to the unpaid amount…
- §1097
- §1098
- §1099
- §1100
- §1101
- §1102
- §1103
- §1104
- §1105
- §1106
- §1107
- §1108
- §1109
- §1110
- §1111
- §1111/1
- §1112
- §1113
- §1114
- §1115
- §1116
- §1117
- §1118
- §1119
- §1120
- §1121
- §1122
- §1123
- §1124
- §1125
- §1126
- §1127
- §1128
- §1129
- §1130
- §1131
- §1132
- §1133
- §1134
- §1135
- §1136
- §1137
- §1138
- §1139
- §1140
- §1141
- §1142
- §1143
- §1144 Director's duties Directors must manage the company's affairs with the care of a reasonable business person in similar circumstances, in the company's interest, and within the powers…
- §1145
- §1146
- §1147
- §1148
- §1149
- §1150
- §1151
- §1152
- §1153
- §1153/1
- §1154
- §1155
- §1156
- §1157
- §1158
- §1159
- §1160
- §1161
- §1162
- §1162/1
- §1163
- §1164
- §1165
- §1166
- §1167 Director non-competition rule A director must not, without the approval of the shareholders' meeting, engage in or be a partner in any business of the same nature as…
- §1168
- §1169
- §1170
- §1171
- §1172
- §1173
- §1174
- §1175 Shareholder meeting — call Shareholder meeting — call.
- §1176
- §1177
- §1178
- §1179
- §1180
- §1181
- §1182
- §1183
- §1184
- §1185
- §1186
- §1187
- §1188
- §1189
- §1190
- §1191
- §1192
- §1193
- §1194
- §1195
- §1196
- §1197
- §1198
- §1199
- §1200
- §1201
- §1202
- §1203
- §1204
- §1205
- §1206
- §1207
- §1208
- §1209
- §1210
- §1211
- §1212
- §1213
- §1214
- §1215
- §1216
- §1217
- §1218
- §1219
- §1220
- §1221
- §1222
- §1223
- §1224
- §1225
- §1226
- §1227
- §1228
- §1229
- §1230
- §1231
- §1232
- §1233
- §1234
- §1235
- §1236
- §1237
- §1238
- §1239
- §1239/1
- §1240
- §1240/1
- §1240/2
- §1240/3
- §1241
- §1242
- §1243
- §1244
- §1245
- §1246
- §1246/1
- §1246/2
- §1246/3
- §1246/4
- §1246/5
- §1246/6
- §1246/7
- §1247
- §1248
- §1249
- §1250
- §1251
- §1252
- §1253
- §1254
- §1255
- §1256
- §1257
- §1258
- §1259
- §1260
- §1261
- §1262
- §1263
- §1264
- §1264/1
- §1264/7
- §1265
- §1266
- §1267
- §1268
- §1269
- §1270
- §1271
- §1272
- §1273
- §1273/1
- §1273/2
- §1273/3
- §1273/4
- §1274
- §1297