Legal Measures to Protect Guarantors

บทคัดย่อ

The objectives of this research were 1) to study the theoretical concepts of guarantor protection 2) to study the legal problems of guarantor protection laws in Thailand 3) to study foreign guarantor protection legal measures 4) to develop the law on guarantor protection in Thailand. This study used qualitative research design for data collection. The researcher collected data from documentary research and semi-structured in-depth interview from 5 groups of people: judges, academics and experts banking and financial institutions, lawyers and the general public involved in contracting. The results of the study indicated that legal measures affecting the protection of the guarantor were as follows: 1) Guarantee under section 680, termination of contract in the event that the property of the guarantor is diminished did not require the guarantor to terminate the contract because the guaranteed debt will naturally decrease in value. 2) Civil and Commercial Code, Title 11 on Guarantees Section 683, the law requires the guarantor to bear too much burden. It is a predetermined measure that causes unfairness to the guarantor. 3) The guarantor must be compelled to pay the debt, which will affect the well-being of the family members and may affect the spouse. And the contract of guarantee is an obligation to create debt which may affect the property of the guarantor that is marital property the spouse should be involved in decision-making. Thus, recommendations to guarantor protection law were as follows: 1) the law should require the surety to terminate the surety ship contract in the event that the surety has deteriorated assets, which is the reason the surety cannot pay the debt on behalf of the debtor; 2) In the event that the surety is a quasi-incompetent or incompetent, the surety can terminate the contract 3) amends the law on payment of default interest of the surety, 4)  amends the law on liability for encumbrance which is a debt instrument, 5) stipulates in the contract of guarantee that the surety having a spouse must have consent from the spouse to enter into the contract. And the spouse is not liable for any obligations in the contract.