LLB1501 Law of Sale & Property – Core Vocabulary

A comprehensive set of vocabulary flashcards covering the fundamental terms, statutory references, duties, liabilities, and special sale types from the LLB1501 lecture on Law of Sale and Law of Property.

Sale Contract

An agreement in which the seller transfers ownership of property to the buyer in exchange for a price (CCC s.453).

Offer

A proposal made by one party expressing willingness to enter a legally-binding contract.

Acceptance

The offeree’s unqualified agreement to the terms of the offer, creating a binding contract.

Reciprocal Contract

A contract imposing mutual obligations on both parties; each side gives and receives (e.g., sale contract).

Seller

The party who agrees to transfer ownership of property under a sale contract.

Buyer

The party who agrees to pay the price and receive ownership of the property.

Thai CCC Section 453

Defines a sale as a contract where the seller transfers ownership and the buyer pays a price.

Exchange (CCC s.518)

A contract where both parties transfer ownership of property to each other without a price element.

Transfer of Ownership

Legal passage of title from seller to buyer; normally instantaneous in an absolute sale (s.458).

Absolute Present Sale

Sale where ownership passes immediately upon contract formation; no conditions/time clauses.

Sale with Condition

Sale in which ownership transfers only when a specified condition is fulfilled (s.459).

Sale with Time Clause

Sale where ownership transfers at a future date fixed by the parties (s.459).

Section 460

Delays ownership transfer until goods are numbered, weighed, measured, counted, or otherwise identified.

Contract to Sell or Buy

Agreement to execute a legally-required sale form later; applicable to immovable or special movable property.

Promise to Sell / Promise to Buy

Unilateral promise (s.454) binding the promisor until the promisee notifies intent to complete the sale.

Capacity of Person

Legal ability to enter a juristic act; minors, incompetent, quasi-incompetent, and unsound mind persons lack capacity.

Juristic Act

A lawful declaration of intention intended to create legal effects (e.g., contract).

Void Contract

An agreement having no legal effect from the outset (0%).

Voidable Contract

A valid contract that can be annulled by the injured party until ratified (50 → 0 or 100%).

Ratification

Confirmation by a party that cures a voidable contract, making it fully valid.

Form Requirement (s.456)

Certain sales (immovables, special movables, ≥20,000 THB) must be in writing and registered, else void.

Immovable Property

Land or things permanently fixed to land; sale requires writing + land-office registration.

Special Movable Property

Ships ≥ 5 tons, floating houses, beasts of burden; sales need writing + registration.

Beast of Burden

Animals used for carrying loads—elephant, horse, buffalo, ox, donkey, mule.

Earnest

A sum or token given to bind a contract and make an otherwise unenforceable agreement actionable.

Part Performance

Conduct evidencing the contract (e.g., taking possession) that can render an oral sale enforceable.

Things Outside Commerce

Objects that cannot be legally transferred (e.g., sun, moon, domain public, temple land).

Domain Public of the State

Property reserved for public use or special state purposes; not transferable by sale.

Right of Redemption

Seller’s contractual right to buy back sold property within 10 years (immovables) or 3 years (movables).

Sale with Right of Redemption

Sale transferring ownership but allowing seller to redeem property within agreed period (s.491-497).

Auction Sale

Public sale where property goes to the highest bidder once the auctioneer announces completion.

Delivery

Seller’s act of placing property at the buyer’s disposal; may occur by handing to a carrier.

Deficiency or Excess Delivery

Situation where quantity delivered differs from contract; buyer may reject or pay proportionate price.

Liability for Defect

Seller’s duty to compensate when latent defects impair value or fitness of goods (s.472).

Hidden Defect

A non-apparent fault existing at sale that diminishes value or use of the property.

Seller’s Non-Liability for Defect

No liability if buyer knew or should have known defect, accepted goods without reservation, or goods sold by auction (s.473).

Liability for Eviction

Seller’s responsibility when third-party rights existing at sale disturb buyer’s possession.

Eviction Exceptions

Seller not liable if disturbance stems from buyer’s fault, buyer failed to summon seller, or rights were known to buyer.

Buyer’s Duties

Take delivery and pay the agreed or reasonable price per contract terms.

Reasonable Price

Payment required when sale contract omits a definite price; based on market value.

Objective of Juristic Act

Contract purpose must be lawful, possible, and not against public order or good morals.

Declaration of Intention

Expression of will in a juristic act; vitiated by mistake, duress, or fraud makes contract voidable.

Fictitious Declaration

Sham intent (เจตนาลวง) rendering a juristic act void.

Section 493

Allows parties in redemption sale to prohibit buyer from disposing of property; breach gives seller damages.

Public Order & Good Morals

Legal standard disallowing contracts contrary to societal ethics; violation makes contract void.

Completion of Contract of Sale

Moment an unqualified acceptance meets an offer, forming a binding agreement.