1.Mr. Ryan want to buy some plot of land at Phutthamonthon, he signed a loan of money contract with Mr. Top to borrow 500,000 baht from Mr. Top and to return to Mr. Top the money after twelve months from the date of signing the contract. Mr. Paul verbally guarantee for the debt payment. In this loan of money contract both of Mr. Ryan and Mr. Top agreed that the interest was payable, but did not specify and interest rate amount in the contract.
as well. Mr. Top can Claim against Mr. Ryan and Mr. Paul in court for the 500,000 Baht because in this case Mr. Ryan (debtor), he signed a loan of money contract with Mr. Top (creditor), that the loan agreement can be used as evidence in a claim against to them in court to be prosecuted according to law. Mr. Top can claim, inform arraign Mr. Ryan for 500,000 baht with the interest rate amount as prescribed by law at 7.5% per year. If Ryan cannot payment or flee one's debts, Mr. Top can claim, inform arraign Mr. Paul (guarantor) for 500,000 baht with the interest rate amount as prescribed by law.