Section Code: 0975 - 0981
Thai Civil and Commercial Code
CHAPTER II: BILLS OF EXCHANGE
Bills of Exchange in a set
Section 975. Bills in a Set
Except in the case of bills of exchange payable to bearer, a bill of exchange can be drawn in two or more identical duplicates.
These duplicates must be numbered in the body of the instrument, failing which each duplicate is good as a separate bill of exchange.
Every holder of a bill which does not specify that it has been drawn as a so/a bill may, at his own expense, require the delivery of two or more duplicates. For this purpose he must address himself to his immediate indorser, who is bound to help him in proceeding against his own indorser, and so on in the series until the drawer is reached. The indorsers are bound to reproduce their indorsements on the new duplicates of the set.
Section 976. Endorsement of Duplicates
Where the holder of a set endorses two or more duplicates to different persons, he is liable on every such duplicate, and every indorser subsequent to him is liable on the duplicate he has himself indorsed as if the said duplicates were separate bills.
Section 977. First Title is the True Owner
Where two or more duplicates of a set are negotiated to different lawful holders, the holder whose title first accrues is as between such holders deemed the true owner of the bill; but nothing in this section shall affect the rights of a person who lawfully accepts of pays the duplicate first presented to him.
Section 978. Written Acceptance
The acceptance may be written on any duplicate, and it must be written on one duplicate only.
If the drawee accepts more than one duplicate, and such accepted duplicates get into the hands of different lawful holders, he is liable on every such duplicate as if it were a separate bill.
Section 979. If no duplicate
When the acceptor of a bill drawn in a set pays it without requiring the duplicate bearing his acceptance to be delivered up to him, and that duplicate at maturity is outstanding in the hands of a lawful holder, he is liable to the holder thereof.
Section 980. Discharge of a Bill
Subject to the foregoing provisions, where any one duplicate of a bill drawn in a set is discharged by payment or otherwise, the whole bill is discharged.
Section 981. Protest
A party who has sent one duplicate for acceptance must indicate on the other duplicate the name of the person in whose hands this duplicate will be found. That person is bound to give it up to the lawful holder of another duplicate.
If he refuses, the holder cannot exercise his right of recourse until after he has a protest drawn up, specifying:
- That the duplicate sent for acceptance has not been given up to him on his demand.
- That acceptance or payment could not be obtained on another of the duplicates.