Section 700
Statutory text (Thai original)
แก้ไขเพิ่มเติมโดยพระราชบัญญัติแก้ไขเพิ่มเติมประมวลกฎหมายแพ่งและพาณิชย์ (ฉบับที่ ๒๐) พ.ศ. ๒๕๕๗ [29]
Verbatim from the Royal Gazette / Office of the Council of State
Firm annotation
Section 700 is part of Book 3 (Specific Contracts) of the Thai Civil and Commercial Code. This entry is awaiting firm-authored commentary; the statutory text above is verbatim from the Office of the Council of State (OCS Krisdika) Thai source, with the English translation from the FAO/UN FAOLEX repository. Always rely on the Thai original for legal proceedings.
Why this matters in practice
Lawyers: If a lender wishes to extend the repayment period and preserve surety liability, it must obtain the surety's written consent to the extension. An informal or oral agreement to extend time between the creditor and debtor, without the surety's consent, releases the surety. Laypeople: As a guarantor, if the bank and borrower agree to extend the loan term without asking you, you may be released from your obligation after the original due date.
Legislative history
Amended by the Civil and Commercial Code Amendment Act (No. 20) B.E. 2557 (2014), which clarified that a written extension of time by the creditor without the surety's written consent releases the surety from liability accruing after the original due date.
Supreme Court decisions interpreting this section
-
Supreme Court Judgment No. 181/2542 (1999)
A surety who expressly consents in the suretyship agreement to future extensions of time remains bound despite subsequent extensions granted by the creditor.
The suretyship agreement expressly stated that if the creditor extended time for the debtor's obligation in any case, the surety consented and would remain bound. The court held this contractual consent to future extensions kept the surety bound despite subsequent extensions of the debtor's obligation.
Curated decisions with case numbers verified against the Supreme Court database. English renderings are the firm's editorial translation for study.