The contract of pledge which pledgee is pawnbroker is governed by the Pawnbrokers Act B.E. 2505 and laws of Pledge under the Civil and Commercial Code. From the research, legal problems on pledge under the Pawnbrokers Act B.E. 2505 have 4 important issues. First issue concerns about the right of the owner of property to follow and recover his property from any person not entitled to detain it. Section 25 of the Pawnbrokers Act B.E. 2505 is considered to be the exception of the general rule that transferee has no better right than transferor. If pawnbroker forfeits the pledged good then the right of the owner of property to follow and recover his property is suppressed. Second issue concerns about the contract of pledge which pledgor is minor. Section 18 of the Pawnbrokers Act B.E. 2505 is considered to be an exception of the principle of law on the doing of juristic act by minor. Therefore, minor who is after completing fifteen years of age can make a contract of pledge which pledgee is pawnbroker without any consent of his legal representative. Third issue concerns about the case which pawnbroker demands a rate of interest higher than the rate allow by section 17 of the Pawnbrokers Act B.E. 2505. Legal consequence in above case is that the interest rate agreement shall be invalid. Fourth issue concerns about consequence after enforcement of pledge by pawnbroker. Pawnbroker has a right to enforce of pledge by forfeit pledged good which means that pawnbroker accept in lieu of performance another performance than that agreed upon. Therefore, money lending obligation that has personal property to be pledged as security is extinguished. From the research of the 4 issues mentioned above, the provisions of the Pawnbrokers Act B.E. 2505 and the Civil and Commercial Code in the laws of Pledge, Contracts and Obligations have specifically enacted covering these issues. The law can be applied in all 4 issues with no need to modify the provision of laws only if the person who uses the law applies and adapts the provisions of laws in accordance with the spirit of its provision.
