Basic principles in commercial activities under Vietnamese law

Trade is an activity that takes place very early in the history of human society. Development trade is one of the factors contributing to the general development of countries. This is often understood as the trading activity of goods for profit, but the content of the commercial activity is expanded or limited to any extent that is specified in different countries and regions. Accordingly, the principles in commercial activities are also established. In this article, let’s join Lawyer X to learn the basic principles of commercial activities under Vietnamese law

Legal grounds

Commercial Law 2005

What is commercial activities under Vietnamese law?

Clause 1, Article 3 of the 2005 Commercial Law explains: “Commercial activities mean activities for the purpose of generating profits, including: sale and purchase of goods, provision of services, investment, commercial promotion and other activities for the profit purpose.”

Thus, commercial activities have a basic characteristic of a profitable activity, the content of such activity in accordance with Vietnamese law includes the following activities:

– Purchase and sale of goods: means a commercial activity whereby the seller is obliged to deliver the goods, transfer ownership of the goods to the buyer and receive payment; the buyer is obliged to pay the seller, receive the goods and take ownership of the goods as agreed.

– Service provision: is a commercial activity whereby one party (the service supplier) is obliged to perform the service to another party and receive payment; The service user (customer) is obliged to pay the service provider and use the service as agreed.

– Business investment is the investment by an investor to carry out business activities.

– Trade promotion means activities to promote and seek opportunities to buy and sell goods and provide services, including promotional activities, commercial advertising, goods display and introduction, services and fairs, trade exhibition.

– Other profitable activities

To understand profoundly about commercial activities, we could learn about the definition of traders. Whereby, traders include lawfully established economic organizations and individuals that conduct commercial activities in an independent and regular manner and have business registrations. Traders are entitled to conduct commercial activities in occupations and sectors, in geographical areas, in forms and by modes which are not banned by law. The right of traders to conduct lawful commercial activities is protected by the State. The State exercises for a definite time its monopoly over commercial activities in respect to a number of goods and services or in a number of geographical areas in order to ensure the national interests. The Government shall specify the lists of goods, services and geographical areas subject to the State monopoly.

Basic principles in commercial activities under Vietnamese law

– Principle of traders’ equality before law in commercial activities

The content of this principle is that traders of all economic sectors are equal before the law in commercial activities. Traders include legally established economic organizations, individuals conducting commercial activities independently, on a regular basis and with business registrations. Traders of all economic sectors have the right to conduct commercial activities in all industries, in areas, in forms and methods not prohibited by law.

– Principle of freedom and freewill to agreement in commercial activities

Parties have the rights of freedom to reach agreements not in contravention of the provisions of law, fine traditions and customs and social ethics in order to establish their rights and obligations in commercial activities. The State respects and protects such rights. In commercial activities, the parties shall act on their own freewill, and neither party is allowed to impose its own will on, to force, intimidate or obstruct, the other party.

– Principle of application of customs in commercial activities preestablished between parties

Unless otherwise agreed, the parties are deemed to be implicitly applying the habit in commercial activities established between the parties that the parties know or should know but not contrary to the provisions of law. .

Habits in commercial activities are understood as a code of conduct with a clear content formed and repeated many times in a long time between parties, assumed by the parties to define rights and obligations. of the parties to a commercial contract.

– Principle of application of practices in commercial activities

In case the law does not provide any provisions, the parties have no agreement and no habits have been established between the parties, the commercial practice shall be applied but must not be contrary to the principles specified in this Law and in the Ministry. civil law.

Commercial practice is a widely recognized habit in commercial activities in a region, domain or area of ​​commerce, with clear content recognized by the parties to define the rights and obligations of the parties. commercial activities.

– Principle of protection of legitimate interests of consumers

+ Traders conducting commercial activities are obliged to fully and truthfully inform consumers about the goods and services they do business and must be responsible for the accuracy of such information.

+ Traders conducting commercial activities must take responsibility for the quality and legality of the goods and services they do business.

– Principle of recognition of legal validity of data messages in commercial activities

In commercial activities, data messages that satisfy technical standards and conditions as prescribed by law are recognized as having equivalent legal validity. In which, data message is understood as information created, sent, received and stored by electronic means.

Application of the Commercial Law and relevant laws

– Commercial activities must comply with the Commercial Law and relevant laws.

– Particular commercial activities provided for in other laws shall comply with the provisions of such laws. – Commercial activities which are not provided for in the Commercial Law and other laws shall comply with the provisions of the Civil Code.

Application of treaties, foreign laws and international commercial practices

– Where a treaty to which Vietnam is a contracting party stipulates the application of foreign laws or international commercial practices, or contain provisions different from those of this Law, the provisions of such treaty shall apply.

– Parties to commercial transactions involving foreign elements may agree to apply foreign laws or international commercial practices if such foreign laws or international commercial practices are not contrary to the fundamental principles of the Vietnamese law.

Services of Lawyer X

Prestigious professional services: Firstly, the team of consultants and consultants for many years in the field of civil status, and customer support.

On-time: Certainly, with the motto “Get your lawyer right at your fingertips”, we ensure the service always performs on time. The rights and interests of customers always come first.

Cost: Besides, Lawyer X’s service costs are highly competitive; depending on the nature of the particular case. So, we want our guests to have the best possible service experience. Therefore, costs which guaranteed to be the most suitable and economical for customers.

Confidentiality of client information: Finally, all personal information of clients Lawyer X will be 100% confidential.

If you need any further information, please contact  LSX Law firm: at +84846175333 or Email: [email protected]

Frequently asked questions

Conclusion: So the above is Basic principles in commercial activities under Vietnamese law. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com