LEGAL PROBLEMS LEGISLATION ON CANCELLATION OF THE CORPORATE SEALS STAMPED ON THE CHEQUE

Abstract

This article aimed to study problems from the Bank of Thailand prohibits ordering payment of money by a cheque using a stamp due to the implementation of  Imaged Cheque Clearing Archive System: ICAS   for clearing cheques and cancelled the use of juristic person seal. The system uses grayscale and black and white images, so the signature may not be able to be inspected due to the overlapping color scale. The study found that there were 2 case involving the use of a stamp. 1) Under Section 900 Paragraph 2 and Section 9 Paragraph 2 of Thailand‘s Civil and Commercial Code in which the use of a stamp required 2 withnesses’ signature Therefore, it might be difficult to verify the stamp because of the colored images. 2) In normal circumstances, when a company as a juristic person used the stamp instead of signing in person. If a juristic person wanted to use a stamp, 2 company delegates’ signatures were required. The mentioned prohibition of the Bank of Thailand may oppose the rights of the juristic person because it is unlawful to order a payment for the cheques. Therefore, firstly, the juristic person should be able to amend the regulation to allow the signatures on the cheques without a stamp. A second option is that the juristic person can ratify the signatures of the delegates. Thirdly, the company may require the delegates to state that their signatures are mage on the company’s behalf.