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Group 1: Law in Business

Anand and Vijay made an oral agreement where Anand would give Vijay everything he earns for the next 10 years in exchange for Vijay's Coke. Under Vietnamese law, this agreement is not legally binding for two reasons. First, Anand's offer was ambiguous as it's unclear what he may earn. Second, any contract transferring land use rights must be in writing to be valid, so if Anand were to earn land, the oral contract would be illegal. Therefore, no binding agreement was created between Anand and Vijay.

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14 views

Group 1: Law in Business

Anand and Vijay made an oral agreement where Anand would give Vijay everything he earns for the next 10 years in exchange for Vijay's Coke. Under Vietnamese law, this agreement is not legally binding for two reasons. First, Anand's offer was ambiguous as it's unclear what he may earn. Second, any contract transferring land use rights must be in writing to be valid, so if Anand were to earn land, the oral contract would be illegal. Therefore, no binding agreement was created between Anand and Vijay.

Uploaded by

TueNguyen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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GROUP 1

Law in Business
Exercise #1
Anand and Vijay are sitting together at lunch. It is a hot day and Anand
has forgotten to bring anything to drink. Anand tells Vijay that in
exchange for Vijays Coke Anand will give Vijay everything he earns for
the next ten years. Vijay Immediately accepts and gives Anand the
Coke.

Has a binding agreement been created?

Outline:
1. Questions of report
2. Law/rules applies in this case
3. Analysis
1. Questions of Report
1. What is offer in this case?
2. What is consideration in this case?

2. Laws/Rules apply to this case
In Civil Code of Vietnam 2005:
- Article 390, clause 1.
- Article 409, clause 1
- Article 689, clause 2

3. Analysis this case
A/ Illegal offer
Article 390: Offering to enter into civil contracts
1. Offering to enter into a contract means the expression of the
intention to enter into the contract and to be bound on this offer of the
offering party to the other specified party.

B/ everything Anand will earn for the next ten year is ambiguous
Article 409: Interpretation of civil contracts
1. When a contract contains ambiguous provisions, the interpretation
of such provisions shall be based not only on the wording of the
contract but also on the mutual intentions of the parties.
3. Analysis this case (cont)
We are not sure about what Anand can earn for the next 10 years. If
Anald earns a piece of land, the oral contract between Anand and Vijay
will be illegal.

Article 689: Forms of transfer of land use rights
2. The contracts on land use right transfer must be made in writing,
notarized or authenticated in accordance with the provisions of law.

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