Written by Hathaipatr Chirapathama, BBA#21

The ideal place to learn is where the lesson actually happens. On November 19^th , the student of Business Law class were offered one of such opportunities to experience the real life lesson. We got the  chance to witness the auction at Legal Execution Department (LED) in the morning. Unfortunately, there were not much case that by the time we reached, all auctions had already took place. However, we were still able to observe the auction through video that were recorded on general basis at the auction. With the explanation from LED specialist, Khun Atitaya Tongboon, we came to understand the procedure and the purpose of the auction. The auction of immovable property is one of the LED duties. It is also serving several duties such as: seizing and distributing default debtor's property to claimed creditors, taking care of bankruptcy cases and executing the process, and helping debtors recover from the debt. The main purpose of this department is to negotiate and do justice for the concerning parties.

            The procedure of the auction or public selling is comprehensible but without prior knowledge about it, we might not be able to perform it correctly in the future. It is a very fast procedure which involves many parties. I have to admit that it is also very exciting that some of our friends start to cheer for the bidders who bid a higher price. I have come to a realize that this real world lesson did not only let us experience the procedure but also the feelings of it as well. This field trip provided us with the lesson that is not only useful for our course but also useful for our future career and life as well.