Contract law of vietnam an evaluation approached by the transaction cost theory tan pp nguyen1 abstract freedom of contract is one of three basic elements of the economy which is only improved its effectiveness in case of being guaranteed by the legal system of contract. Like china contract law in vietnam has practiced a dual pricing policy in this policy it emphasizes double charges for purchases made by foreigners in this policy it emphasizes double charges for purchases made by foreigners. History and philosop hy of vietnamese con tract law in order to understand vietnamese contract law it is essential to understand the conception of law in vietnamese society in particular for western lawyers the history of vietnams contract law is a part of that of vietnams civil law. Legal system of vietnam contract law vietnams civil law is based on the french civil code it is a branch of private law involving several areas of the law the law of persons property law contract law the family law and inheritance law. Corporate law in vietnam was originally based on the french commercial law system however since vietnams independence in 1945 for scs if a loan agreement contract is valued at at least 50 of the companys total assets it is subject to approval by the bom
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