Discussion on the laws stipulating the implementation of contracts upon basic circumstance change in Vietnam today

Abstract

The article examines the characteristics of fundamental circumstance changes and clarifies this concept, indicating it is an important economic and legal phenomenon that needs to be thoroughly adjusted within contract law in Vietnam. The conditions for determining fundamental circumstance changes are also elucidated. Through a comparative legal methodology, evaluations of the contractual legal framework on this issue are analyzed. The article analyzes the provisions of the Civil Code of 2015 regarding the execution of contracts when fundamental circumstances change. The conditions for determining fundamental circumstance changes, including the causes and timing of changes, the unforeseeability of changes, significant changes in circumstances, and the obligation to redress damage, are thoroughly evaluated. Additionally, renegotiation and dispute resolution authority and the consequences of unsuccessful renegotiations are meticulously studied. By comparing with the Unidroit Principles of International Commercial Contracts, the Principles of European Contract Law, and the provisions of several typical countries, the author draws valuable conclusions about the current legal status in Vietnam, which serve as the foundation for legal improvement.