An Extinguishment of Obligation by Mean of Performance Another than Agreed upon Loan Agreement: Comparative Study of the Lao People’s Democratic Republic and the Kingdom of Thailand (in Thai)
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Abstract
This article aims to study on the problems and obstacles in the provisions of law on Contract and Tort in 2008 of the Lao People’s Democratic Republic (Lao PDR) with respect to repayment by material goods or other properties arising from a loan agreement It is a comparative study with the Civil and Commercial Code of Thailand by searching the data from both Thailand Lao PDR' documents, such as; laws, textbooks, journals, articles, thesis, etc. in order to find conclusive analysis on this subject.
From the study we found that the law on Contract and Tort in A.D.2008 which enacts repayment with material goods instead of money or other assets is unclear and the said law does not enact rights, duties and liabilities including the result of repayment with other properties. Consequently, it mostly impacts to the justice and interest of people Lao PDR.
For this reason, it is appropriate to improve the law on Contract and Tort in A.D.2008 by enacting the new the loan repayment with material goods instead of money or other assets and the rights, duties and liabilities including the result of repayment with other properties to make it clear and more details, as same as the civil and Commercial Code of Thailand. Consequently, the low enforcement of the Laos PDR on the repayment with material goods, instead of money or other assets will be more justice. And interest to the people.
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References
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