ICMB 341 Business Law--Lecture 8

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Lecture 8

Business Law

Dr.Arthit Satthavorasit

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Loan

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Loan 1. Loan for use 2. Loan for consumption

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Loan for use - A contract whereby a person, called the lender, lets another person, called the borrower, have gratuitously the use of a property, and the borrower agrees to return it after having made use thereof.

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Loan for consumption - A contract whereby the lender transfers to the borrower the ownership of a certain quantity of property which is consumed in the user, and the borrower agrees to return a property of the same kind, quality and quantity.

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Deposit - A contract whereby a person, called the depositor, delivers a property to another person, called the depositary, and the depositary agrees to keep it in his custody and return it.

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Suretyship - A contract whereby a person, called the surety, binds himself to a creditor to satisfy an obligation in the event that the debtor fails to perform it.

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Mortgage - A contract whereby a person, called the mortgagor, assigns a property to another person, called the mortgagee, as security for the performance of an obligation, without delivering the property to the mortgagee.

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Pledge - A contract whereby a person, called the pledgor, delivers to another person, called the pledgee, a movable property as a security for the performance of an obligation.

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Insurance - A contract is where a person agrees to make compensation or to pay a sum of money in case of contingent loss or any other future event specified in the contract, and another person agrees to pay therefor a sum of money, called premium.

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Insurance against loss

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Life insurance

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Bills 1. Bill of exchange 2. Promissory note 3. Cheque

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Bill of exchange (BE) ‘A bill of exchange is a written instrument by which a person, called a drawer, orders another person, called the drawee, to pay a sum of money to, or to the order of, a person, called the payee.’

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Promissory note (PN) ‘A promissory note is a written instrument by which a person, called the maker, promises to pay a sum of money to, or to the order of, another person, called the payee.’

Mahidol University International CollegeBusiness Administration DivisionICMB 341 Business LawTrimester 2/2010

Business Law

Cheque ‘A cheque is a written instrument by which a person, called a drawer, orders a bank to pay on demand a sum of money to, or to the order of, a person, called the payee.’