Section Code: 0503 - 0517

Thai Civil and Commercial Code

SPECIFIC CONTRACTS
TITLE I
SALE
CHAPTER IV

Section 503. Sale by Sample

In a sale by sample, the seller is bound to deliver property or properties corresponding to the sample.

In a sale by description, the seller is bound to deliver property corresponding to the description.

Section 504. Statute of Limitations

No action for liability on account of non-correspondence to the sample or description can be entered later than one year after delivery.

Section 505. Sale on Approval

A sale on approval is the selling contract that the buyer having an option to buy when verifying the buying property.

Section 506. Verifying Property

To verify the property, if there is no buying deadline, the seller may specify the reasonable deadline period and give a notice to the buyer to accept or reject the buying or not.

Section 507. No Contract if Buyer does not Verify Property before Deadline

The property that the buyer having option to verify before delivery, if the buyer does not accept it within the deadline stated in the contract or commercial practice or deadline setting by the seller, the selling contract is unbound.

Section 508. When the property is delivered to the buyer for verifying, the selling and the buying shall be absolutely completed in the following cases:

  1. If the buyer does not reject the purchasing within deadline specified in the contract or by commercial practice or setting by the seller; or
  2. If the buyer does not return the property to the seller within the said deadline; or
  3. If the buyer fully uses all the property or in some parts; or
  4. If the buyer sells the property or makes any buying signals.

Section 509. Auction

The auction shall be completed when the auctioneer accepts the final price by knocking the wood hammer or any practical acts in auction; otherwise the bidder can withdraw his bid in anytime.

Section 510. Bidding Procedure

During bidding process, the bidder must comply with the bidding procedure that the auctioneer has announced in each bidding.

Section 511. Auctioneer Cannot Bid on Property

The auctioneer cannot make a bid or let any person to make a bid for his own benefit that he is control the bidding process.

Section 512. Seller Cannot Bid on Own Property unless allowed in terms

The seller cannot make a bid or let any person to make a bid, except specified in the bidding terms and conditions that the seller has the right to bid.

Section 513. Withdraw of Property if Price is too Low

If the auctioneer thinks that the bidding price is not high enough, he may withdraw the said property auction.

Section 514. Higher Bids

The bidder shall be unbound from his bid when other person offers a higher bidding price, even though the said bidding is complete or not, or when the auctioneer withdraws the said property auction.

Section 515. Cash Payment

Bidder who offers the highest bidding price must pay in cash when the auction is complete or the deadline specified in the bidding advertising.

Section 516. If Winning Bidder does not Pay

If the bidder who offers the highest bidding price does not pay the money, the auctioneer may renew the auction. If the renew bidding price is lower than the previous one, such default bidder must liable for the short.

Section 517. Liability of Auctioneer

If some or all of the proceed from auction is unpaid that the cause comes from the ignorance of the auctioneer under Section 515 or Section 516, the auctioneer is liable for the unpaid amount.

« »