Sombat owed Somsri 500,000 baht. The due date of repayment 25 Jul. 2557 B.E. However, on that date, Somebat did not repay the money to Somsri. Therefore, Somsri decided to give a notice to Sombat one week later.
a. Specify the date that Sombat was subjected to ‘default’.
b. If the loan bears interest rate during default at 7.5% per year, is it legal or illegal?
c. If Sombat repaid the loan at 25 Aug. 2557 B.E., specify the amount of the loan plus interest that Sombat had to repay.