Trading is a common commercial activity in which the seller is obliged to deliver, transfer ownership of the goods to the buyer and receive payment; The buyer is obliged to pay the seller, receive and own the goods as agreed. International law and Vietnam law both appreciate the agreements of parties to the sale contract as long as they are not agaisnt the law. Currently, sales contracts are governed primarily by the Civil Code 2015 and Commercial Law 2005.
Form of contract:
According to Article 24 of The Commercial Law 2005, a sale contract can be expressed either verbally, in writing or in a specific manner. However, there are some legal cases which must be made in writing (in order to facilitate tax administration or customs procedures, protect legitimate rights and interests of involved parties …).
Contents of sale contract (for reference only):
In general, the contents of the contract are terms that the parties discuss and approve to ensure the rights and obligations arising from both parties. These contents are also influenced partly by the law of the country where the contract is formed or the country where one or all the parties have nationality. In Vietnam, the parties may agree to the following terms:
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