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Tran Viet Dung © 2014
INTRODUCTION TO
VIETNAMESE BUSINESS LAW
(FOR STUDYING PURPOSE ONLY)
TRAN, VIET DUNG (Dr. J)
DEAN OF INTERNATIONA A! FA"UT#
$O "$I %IN$ "IT# UNIVER&IT# OF A!
$O "$I %IN$ "IT# 2014
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Table of ContentsCHAPTER 1: VIETNAMESE LEGAL SYSTEM ........................................................................................... '
I. OVERVIEW OF VIETNAMESE LEGAL SYSTEM ..................................................................... 6 1.1. Genera .............................................................................................................................. '
1.2. "**n a+ -. "ii a+ .................................................................................................. '
1.. Vietna* a- a /ii a+ /untr ...........................................................................................
1.4. u3i/ a+ er-u- riate a+ ............................................................................................
II. CONSTITUTION OF VIETNAM ......................................................................................... 10
2.1. Genera ............................................................................................................................ 10
2.2. "n-titutin 5 Vietna* .................................................................................................. 11
III. ORGANIZATION OF THE STATE IN THE LEGAL SYSTEM .................................................... 11
3.1. Leg!"#$%e B'(): $)e N#$*'#" A!!e+,"- ................................................................... 12
3.. T)e P&e!/e'$ * $)e S$#$e ............................................................................................. 1
3.3. Ee(2$%e B'(): $)e G*%e&'+e'$ ............................................................................... 14
3.. 42/(#" B'(): $)e C*2&$! ............................................................................................. 16
3.5. T)e Pe*"e7! P&*(2(- .................................................................................................. 1'
CHAPTER : THE LAW OF OBLIGATIONS ............................................................................................ 1
I. CIVIL TRANSACTIONS ................................................................................................................. 1
1.1. De'$*' ........................................................................................................................ 1
1.. A (%" $'!#($*' ! *'"- %#"/ $ +ee$! $)e *""*8'g &e92&e+e'$!: ...................... 1
1.3. C##($- * (%" #($ * '/%/2#"! #'/ "eg#" (##($- * "eg#" e'$$e! ......................... 1
1.. C%" *,"g#$*'! .............................................................................................................. 21
II. CONTRACT FORMATION ................................................................................................ 1
.1. De'$*' * (*'$($ ..................................................................................................... 21
.. Oe& #'/ #((e$#'(e ..................................................................................................... 22
.3. T-e! #'/ (*'$e'$! * (*'$($! .................................................................................... 24.. I'$e&&e$#$*' * (*'$($! ............................................................................................ 26
.5. P&'("e! *& e&*&+#'(e * (%" (*'$($!................................................................. 2'
.6. Te&+'#$*' * (*'$($! ................................................................................................ 2'
III. SECURING OBLIGATIONS ...............................................................................................
3.1. Ge'e" ........................................................................................................................... 27
3.. Me#'! * !e(2&$- ........................................................................................................... 2
IV. BREACH OF CONTRACT .................................................................................................. 33
.1. Ge'e" ...........................................................................................................................
.. Ee+$e/ &*+ "#,"$- .................................................................................................. 6
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CHAPTER 3: OVERVIEW OF CORPORATE LAW ...................................................................................
I. BASIC CONCEPTS ........................................................................................................... 3;
1.1. Se#$e Pe&!*'#"$- < L+$e/ L#,"$- .......................................................................
1.. C*&*$e &e&e!e'$#$*' Leg#" Re&e!e'$#$%e ........................................................... 40
1.3. Rg)$! < *,"g#$*'! * e'$e&&!e! &e"#$e/ $* /*'g ,2!'e!! ..................................... 41
II. CORPORATE CONSTITUTION ..........................................................................................
III. COMPANY FORMATION ................................................................................................ 3
3.1. Rg)$ $* e!$#,"!) e'$e&&!e! ........................................................................................ 4
3.. B2!'e!! "'e! * e'$e&&!e! .......................................................................................... 4
3.3. D*!!e&! *& &eg!$$*' * e'$e&&!e! ......................................................................... 44
3.. I!!2#'(e * ,2!'e!! &eg!$$*' (e&$(#$e ................................................................. 44
3.5. P&e='(*&*$*' (*'$($! ........................................................................................... 46
IV. CAPITAL CONTRIBUTION ............................................................................................... 6
.1. L*#' (#$#" %!. !)#&e (#$#" ......................................................................................... 4'
.. V#"2#$*' * #!!e$! (*'$&,2$e/ #! (#$#" .................................................................... 4'
V. PROHIBITED PRACTICES.................................................................................................
VI. FOREIGN INVESTMENT UNDER INVESTMENT LAW ......................................................... >
CHAPTER : CORPORATE LAW = PARTNERSHIP ................................................................................. 4
I. GENERAL ...................................................................................................................... ;
1.1. De'$*' ........................................................................................................................ 4
1.. T-e! * P#&$'e&!) ...................................................................................................... 41.3. F*&+#$*' ....................................................................................................................... 4
1.. Te&+'#$*' * P#&$'e&!) ............................................................................................ 60
II. MANAGEMENT OF PARTNERSHIP .................................................................................. 50
.1. P#&$'e&!7 C*2'(" ............................................................................................................ 60
.. P#&$'e&! .......................................................................................................................... 60
.3. C)#&+#'? Ge'e" D&e($*& @*& D&e($*& * P#&$'e&!) ............................................. 62
III. AUTHORITY AND LIABILITY OF PARTNERS ...................................................................... 5
3.1. Rg)$! #'/ *,"g#$*'! * ge'e" #&$'e&! ................................................................... 62
3.2. Rights and obligations of limited liability partners ....................................................... 6
CHAPTER 5: CORPORATE LAW = SHAREHOLDING COMPANIES ........................................................ 66
I. GENERAL ...................................................................................................................... 55
1.1. De'$*' ........................................................................................................................ 66
1.. C"#!!e! * !)#&e! O&/'#&- !)#&e! .................................................................................. 66
1.3. Oe& *& !#"e * !)#&e! ................................................................................................... 6'
1.. S)#&e=&e"#$e/ /*(2+e'$! S)#&e (e&$(#$e! ................................................................. 6'
1.5. Re/e+$*' * !)#&e! .................................................................................................... 67
1.6. P#-+e'$ * /%/e'$! ..................................................................................................... 6
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1.. Re(*%e&- * #-+e'$! *& &e/ee+e/ !)#&e! *& /%/e'/! ........................................... 6
1.>. M#'#ge+e'$ .................................................................................................................. 6
II. SHAREHOLDERS ............................................................................................................ 5;
.1. Rg)$! * *&/'#&- !)#&e)*"/e&! ..................................................................................... 6
2.2. Genera %eeting 5 &8are89er- ................................................................................... 6
III. BOARD OF MANAGEMENT ............................................................................................ 65
3.1. A2$)*&$- < (*+*!$*' ............................................................................................... '6
.2 %eeting an9 re-utin- ................................................................................................. '7
IV. GENERAL DIRECTOR ...................................................................................................... 6>
V. INSPECTION COMMITTEE .............................................................................................. 6;
VI. DUTIES OF MANAGERS AND RELATED PARTY TRANSACTIONS ........................................ 0
6.1. D2$e! .............................................................................................................................. 70
6.. Re"#$e/ #&$- $'!#($*'! ............................................................................................. 71
CHAPTER 6: CORPORATE LAW = LIMITED LIABILITY COMPANIES ..................................................... 72
I. GENERAL ......................................................................................................................
1.1. De'$*' ........................................................................................................................ 72
1.. Rg)$! #'/ *,"g#$*'! * +e+,e&! ............................................................................... 72
1.3. C#$#" (*'$&,2$*' ....................................................................................................... 7
1.. C#$#" &e/e+$*'? $'!e& #'/ ()#'ge! .................................................................... 74
1.5. M#'#ge+e'$ S$&2($2&e .................................................................................................. 76
II. MEMBERS7 COUNCIL ..................................................................................................... 5 .1. A2$)*&$- ......................................................................................................................... 76
.. Me+,e&!7 +ee$'g! ....................................................................................................... 77
III. GENERAL DIRECTOR ......................................................................................................
IV. RELATED PARTY TRANSACTIONS.................................................................................... >
V. ONE=MEMBER LLC ......................................................................................................... >
CHAPTER : THE LAW ON BANRUPTCY ........................................................................................... 0
I. GENERAL ...................................................................................................................... >0
1.1 In-en/ 9e5initin ....................................................................................................... 0
1.. Pe$$*' *& (*++e'(e+e'$ * ,#'&2$(- &*(e/2&e! .............................................. 0
1.3. De(!*' *' (*++e'(e+e'$ * ,#'&2$(- &*(e/2&e! .............................................. 1
II. BANRUPTCY PROCEDURES .......................................................................................... >
.1. C*++$$ee *& +#'#ge+e'$ #'/ "92/#$*' * #!!e$! ................................................ 2
.. B2!'e!! #($%$e! #$e& (*++e'(e+e'$ * ,#'&2$(- &*(e/2&e! ..........................
.3. Mee$'g! * (&e/$*&! ..................................................................................................... 4
III. RECOVERY OF BUSINESS OPERATIONS ........................................................................... >5
IV. LIUIDATION ................................................................................................................ >5
.1. L92/#$*' (#!e! ............................................................................................................ 6
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.. A!!e$ /!$&,2$*' ........................................................................................................... '
.3. B#'&2$(- /e("#$*' .................................................................................................. '
V. ASSET PROTECTION MEASURES ..................................................................................... >
5.1. I'%#"/ $'!#($*'! ........................................................................................................ 7
5.. S2!e'!*' * (*'$($ ................................................................................................... 7
5.3. Te+*&- e+e&ge'(- +e#!2&e! ..................................................................................
CHAPTER >: CORPORATE GOVERNANCE ...........................................................................................
1. E'!2&'g $)e ,#!! *& #' ee($%e (*&*$e g*%e&'#'(e +e8*&: ...........................
. T)e &g)$! * !)#&e)*"/e&! #'/ e- *8'e&!) 2'($*'! ................................................ 0
3. T)e e92$#,"e $&e#$+e'$ * !)#&e)*"/e&! ........................................................................ 0
. T)e &*"e * !$#e)*"/e&! .................................................................................................... 0
5. D!("*!2&e #'/ $'!#&e'(- .............................................................................................. 1
6. T)e &e!*'!,"$e! * $)e ,*#&/ ....................................................................................... 1
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CHAPTER 3: OVERVIEW OF CORPORATE LAW
I.
BASIC CONCEPTS
1.1.
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CHAPTER 4: CORPORATE LAW - PARTNERSHIP38
I.
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CHAPTER 5: CORPORATE LAW - SHAREHOLDING COMPANIES42
I.
GENERAL
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I.
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RECOVERY OF BUSINESS OPERATIONS
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