Bangkok Legal Service

Loan Agreement

B, C, D, and E each borrowed 5,000 baht, executing separate loan agreements pursuant to A. The borrowers signed the loan agreements individually with the creditor. On [DATE UNKNOWN] Borrower A collected all four loan agreements and arranged them on carbon paper, signing once on the copy provided to Borrower B, the creditor. The signature of Borrower A appeared on each loan agreement, but was inconsistent with the signature on the copy provided to the creditor. All loan agreements were found to be defective as follows: on each loan agreement, Borrower A delivered a copy to each borrower for their retention. Subsequently, Borrower A consulted with Mr. Winitchai, regarding the amount recoverable from Borrower C, D, and E pursuant to the loan agreements, seeking a determination.

Despite the signature of Borrower A on the loan agreements delivered to Borrowers C, D, and E, being , it is evident that Borrower A intended to have their signature appear on every agreement individually. This is held to constitute a valid loan agreement delivered to Borrowers C, D, and E, with Borrower A assuming liability. Borrowers C, D, and E may therefore sue Borrower A for the recovery of the loan amount pursuant to the Thai Civil and Commercial Code, Section 653.