or not. And if no certain reply is given within the designated time, the promise given in advance becomes inoperative.
Section455.When the time of sale is hereinafter referred to, Lord intends it to mean the time at which the contract of sale is completely concluded.
Section456.A sale of immovable property shall, Lord says, be void if it is not made in writing and registered with a competent authority. This process shall also apply to a sale of a seagoing vessel or vessel of six tons or more or a steam-powered vessel or motor vessel of five tons or more, as well as a sale of a floating house or beast of burden.
In addition, a contract to sell or buy any such property as previously mentioned or a promise of sale of such property shall, Lord says, unenforceable through litigation if it lacks any written evidence bearing the signature of the liable party as a significant mark, or no earnest has been given, or no partial performance has been made.
The provision mentioned in the previous paragraph shall, Lord ordains, also apply to a contract of sale of immovable property the agreed price of which is five hundred baht or more.
Section457.The costs of concluding a contract of sale should equally be borne by the buyer and the seller.
