CONTRACTUAL AGREEMENTS AND RISK TRANSFER TIMING IN BUSINESS CONTRACT EXECUTION
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Abstract
Contract formation and risk transfer are essential stages in any civil transaction. The Civil Code of 2015 and the Commercial Law of 2005 have established a fundamental legal framework to regulate issues arising from contractual relationships, ensuring the legitimate rights and interests of the involved parties. However, to ensure appropriateness and enhance the effectiveness of application, protecting the legal rights and interests of the parties in contract formation as well as determining the point of risk transfer during contract execution, it is necessary to analyze relevant legal provisions regarding the regulation of contract formation and the determination of the risk transfer point during contract execution. This analysis aims to propose solutions for improvement and supplementation to create a comprehensive, robust, and practical legal basis for the formation and execution of business contracts.
Keywords: contract formation, risk transfer, business contracts
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Nguyen Thi Kim Nhien321.pdf
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References
- 1. United Nations Convention on Contracts for the International Sale of Goods (CISG) 2. Civil Code Viet Nam 2015 3. Commercial Law Viet Nam 2005, amended and supplemented in 2017, 2019 4. Harold J Berman and Monica Ladd, 'Risk of Loss or Damage in Documentary Transactions under the Convention on the International Sale of Goods' (1988) 21 Cornell International Law Journal 423, 328–329 5. Lawyer Pham Thi Phuong Thanh (2024) , Principles of Conclusion and Implementation of Commercial Contracts under the Latest Regulations, https://luatminhkhue.vn/nguyen-tac-giao-ket-va-thuc-hien-hop-dong-thuong-mai-theo-quy-dinh-moi-nhat.aspx 6. Manuel Gustin, 'Passing of Risk and Impossibility of Performance under the CISG' (2001) 3 International Business Law Journal 379, 382. 7. Quach Minh Tri (2023), Time of Risk Transfer in International Sales Contracts from the Comparative Law Perspective and Recommendations for Improving the Law, https://lsvn.vn/thoi-diem-chuyen-rui-ro-trong-hop-dong-mua-ban-hang-hoa-quoc-te-duoi-goc-nhin-tu-luat-hoc-so-sanh-va-kien-nghi-hoan-thien-phap-luat-1701185381.html 8. Nguyen Ba Binh, International Sales Contract under CISG, Law Publishing House, Hanoi, 2021, p.99 – 100. 9. Nguyen Hien Phuong, Legal Aspects of Contracts from a Comparative Law Perspective, People's Police Publishing House, 2022, p.139-140. 10. Pham Vien Hong Thao (2018), Cancellation of Contract Formation Proposals under the 2015 Civil Code, Academy of Social Sciences, Hanoi. 11. Assoc. Prof. Dr. Nguyen Van Luyen, Assoc. Prof. Dr. Le Thi Bich Tho, Dr. Duong Van Son (2011), International Commercial Law Textbook, National University Publishing House, Ho Chi Minh City, page 57 12. Tran Vo Nhu Y (2018), "Legal aspects of commercial contracts - current situation and solutions for improvement", Faculty of Law, Duy Tan University, Da Nang.