What is a promise of a reward contract in Vietnam? What are judgments on promise of a reward contract disputes in Vietnam?

What is a promise of a reward contract in Vietnam?

Pursuant to Article 570 of the Civil Code of Vietnam 2015, the provisions regarding a promise of a reward contract are as follows:

Promises of rewards

1. A person having made a public promise of a reward must pay that reward to a person having performed the act requested by the promissor.

2. An act for which a reward is promised must be specific and capable of being performed and must not be prohibited by law nor contravene social morals.

A promise of a reward is understood as a civil transaction expressed in the form of a unilateral legal act by one party.

In this, the party promising the reward will set conditions and stipulations for another party to carry out a specific request that triggers, changes, or terminates civil rights and obligations for another entity.

Thus, we can understand that a promise of a reward contract is a contract formed between two parties to encourage the parties in the working process. The promise of a reward is executed when an individual successfully completes a task or achieves high business results.

Conditions for a promise of a reward contract to be effective in Vietnam

Since the promise of a reward contract is a type of civil transaction according to Article 116 of the Civil Code of Vietnam 2015, the conditions for the effectiveness of a promise of a reward contract are also the conditions for the civil transaction to take effect.

According to Article 117 of the Civil Code of Vietnam 2015, the conditions for the effectiveness of a promise of a reward contract include:

- The subject possesses civil legal capacity and civil act capacity appropriate to the established promise of a reward contract;

- The participants in the promise of a reward contract are completely voluntary;

- The purpose and content of the promise of a reward contract do not violate prohibitions of the law and are not contrary to social ethics.

The form of a promise of a reward contract is a condition for the contract's effectiveness where the law provides regulations. The purpose of a promise of a reward contract is the benefit the subject wishes to achieve when establishing the transaction.

What are judgments on promise of a reward contract disputes in Vietnam?

Below is a compilation of judgments on disputes over promise of a reward contracts examined by courts in Vietnam:

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