Money interest rates are mentioned in a few places.The first and very important place is article 7 that says :”When interest is to be paid and the rate is not fixed by an agreement or an express provision of law, the rate shall be 7.5 % per year.” Suppose you have been given a sum of money by a friend to buy some thing for him it because you spent it for yourself . Under article 811, you have to pay back the money to your friend together with interest under the law of agency .But the rate of interest is not fixed in the agreement between you and him. So the rate of 7.5 % per year under article 7 shall apply
By HUAHIN REAL EATATE LAWYER
WWW.K-HUAHINLAWYER.COM
