Section Code: 0850 - 0852
Thai Civil and Commercial Code
Section 850. Compromise
A compromise is a contract whereby the parties settle a dispute, whether actual or contemplated by mutual concessions.
Section 851. Only Signed Compromised Enforceable
A contract of compromise is not enforceable by action unless there be some written evidence signed by the party liable or his agent.
Section 852. Compromise Extinguishes Claims by Each Party
The effect of the compromise is to extinguish the claims abandoned by each party and to secure to each party the rights which are declared to belong to him.