Deposit is a measure to ensure the performance of civil obligations, which is commonly applied in housing purchase transactions. The Court often has to resolve the deposit relation together with the dispute related to a housing purchase contract.
Main tasks and practical skills:
- Paying a deposit is also a civil transaction, not as part of a housing purchase contract. Therefore, when the contract is invalid, then the deposit shall not always be invalid.
- A deposit shall become valid when it satisfies all conditions provided in Article 131 of the Civil Code 1995, which provides that the form of the deposit must be made in writing (Article 363 of the Civil Code 1995), unlike a housing purchase contract which must be notarized or authenticated.
- Paying a deposit can only ensure the conclusion of the contract (occurred before the contract is concluded and is separate from the contract) or the performance of the contract or both. (The payment of deposit can be included in the contract, but must be interpreted as an agreement to secure the performance of the contract, but not a part of the contract)
- A deposit transaction must be resolved in accordance with provisions of the Civil Code and as instructed in Section 1 of Part I of Resolution No. 01/2003/NQ-HDTP dated 16 April 2003 of the SPCJC.
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