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Questions and Answers
What type of property can be sold according to the Sale Contract under the law?
What type of property can be sold according to the Sale Contract under the law?
Which of the following clauses can be included in a sales contract?
Which of the following clauses can be included in a sales contract?
What is required for the enforceability of a sales agreement?
What is required for the enforceability of a sales agreement?
Which of the following statements about conditions in sales contracts is true?
Which of the following statements about conditions in sales contracts is true?
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Which of the following would be considered an invalid sales contract?
Which of the following would be considered an invalid sales contract?
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In which situation is a sales contract considered void?
In which situation is a sales contract considered void?
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Which factor does NOT affect the validity of a sale contract?
Which factor does NOT affect the validity of a sale contract?
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What must be true for a sales contract involving capacity to be valid?
What must be true for a sales contract involving capacity to be valid?
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Which of the following is an example of a sale with a condition?
Which of the following is an example of a sale with a condition?
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What does the transfer of ownership in a sale contract signify?
What does the transfer of ownership in a sale contract signify?
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Study Notes
Sale Agreement Essentials
- An agreement to sell or buy property requires written evidence signed by the liable party, or earnest money, or part performance for enforceability.
- Applies to movable property with an agreed price of 20,000 baht or more.
Types of Property
- Immovable Property: Includes land or anything permanently fixed to the land.
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Special Movable Property:
- Ships or vessels weighing five tons and over.
- Floating houses.
- Beasts of burden recognized by Thai Law: elephant, horse, buffalo, and ox.
Written Evidence Requirements
- Sale contracts for immovable or special movable property must be documented in writing and can’t be enforced without:
- Written evidence from the liable party.
- Earnest money given.
- Part performance of the contract.
Definition of Sale
- Defined as a contract where the seller transfers ownership of property to the buyer, who agrees to pay a specified price.
Characteristics of Sale Contract
- Involves two parties: seller and buyer.
- It's a reciprocal contract where obligations exist for both parties:
- The seller must transfer ownership.
- The buyer must pay the agreed price.
Property Classification
- Property includes both tangible and intangible objects that hold value and can be appropriated.
- Divided into:
- Immovable property (e.g., land).
- Movable property (e.g., cars).
Validity of Sale Contracts
- Must adhere to legal requirements including:
- Parties must have legal capacity (e.g., adults).
- Declaration of intention should be clear and free from errors, such as duress or mistakes.
- The contract's objective must be lawful and possible.
Seller Ownership Requirement
- The seller does not need to be the formal owner of the property for a sale contract to be valid under specific conditions.
Preliminary Knowledge
- Sale contracts are governed by the Thai Civil and Commercial Code (CCC) and are shaped by principles such as:
- Capacity of persons involved.
- Types of permissible property.
- Declaration of intention considering offer and acceptance.
Duties and Liabilities
- Seller Obligations: Delivery of the sold property and liability for defects or eviction.
- Buyer Obligations: Payment of the price and taking delivery of the property.
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Description
Test your understanding of the general concepts of sales contracts, including the duties and liabilities of both the buyer and seller. This quiz covers definitions, classifications, and the transfer of ownership. Perfect for students studying contract law!
