Lending money to a Thai

[AlfHuy]

4 hours ago, Gecko123 said:

Let out a loud guffaw when I read this. Are you planning on suing for legal malpractice if things don't work out as planned? Was he willing to put that in writing? ????

 

I can think of at least two legal arguments the borrower could make to annul, or stop you from enforcing the agreement, even after the borrower has accepted consideration (the loan).

 

The borrower could argue that the corporate entity into whose name the property was transferred was just a sham nominee the OP used in order to circumvent Thailand's land laws prohibiting foreign ownership of land. In support of this argument, she could claim that she dealt strictly with you, you told her it was your money and bank records will support this, your business partner had nothing to do with the loan, and that making large real estate loans is beyond the scope of the corporation's normal business activities and corporate charter. Thus they could argue that the contract was unenforceable because it violated land law.

 

The borrower could also argue that the contract violates provisions of the contract section of Thailand's civil code which makes a contract which allows one party to receive a windfall benefit at the expense of another party unenforceable. It seems to me that a contract where one party agrees to forfeit in its entirety an asset worth 10's of millions of baht in exchange for a loan of 2 mm baht would run afoul of this provision of the civil code.

 

Were the borrower to prevail on either of these arguments, you could easily end up holding an unsecured loan, i.e., a virtually worthless piece of paper.

 

 

 

 

You seem to be a lawyer.

[Surelynot]

3 minutes ago, AlfHuy said:

You seem to be a lawyer.

........and giving a very clear deposition as why you should never lend money to a Thai.

 

 

[rimmae2]

19 hours ago, Surelynot said:

........and giving a very clear deposition as why you should never lend money to a Thai.

 

 

Surelynot is what you mean.

[Leaver]

On 5/1/2021 at 3:14 PM, 1FinickyOne said:

They call me Mr. Tibbs... Earl of Sandwich, Duke of Earl - - like that?

 

Of course, it never happens here.  ????