Arrange the words from the list in two groups according to the pronunciation of the stressed vowel.

fraud, default, above, order, court, to come.

 

Read the following words. Pay attention to pronunciation of the underlined vowels.

R ea l, s ea led, to cr ea te, enforc ea ble.

 

Read the text to understand what information is of primary importance or new for you.

TEXT 1

Notes:

thereby – таким чином

CONTRACT LAW

Contracts are an integral part of everyday life. Working for an employer; insuring your car or your house and even buying a pint of milk are all governed by the law of contract. Although each of the three situations given above have their own specialist areas of law (employment law, insurance law and consumer law respectively) they are all governed by a set of underlying fundamental principles often referred to as the "general law of contract".

Contract, in US law, is an agreement that creates an obligation binding upon the parties. The essentials of a contract are as follows: (1) mutual assent; (2) a legal consideration, which in most instances need not be pecuniary; (3) parties who have legal capacity to make a contract; (4) absence of fraud or duress; and (5) a subject matter that is not illegal or against public policy.

In general, contracts may be either oral or written. Certain classes of contracts, however, in order to be enforceable, must be written and signed. These include contracts involving the sale and transfer of real estate; contracts to guarantee or to answer for the debt, or default of another person; and, in most states of the U.S., contracts for the sale of goods above a certain value.

Contracts are often classified as either contracts by specialty or simple contracts. Another class of obligations, sometimes referred to as contracts of record, are conclusive legal obligations created by the judgment or order of a court of record.

Contracts by specialty depend for their validity on the formality of their execution. They are required to be written, sealed, and delivered. The usual form of specialty contract is a covenant. A bond has always been regarded and classified as a specialty contract. Contracts by specialty do not require consideration or surrender of a right, given in exchange for the promise, to give them validity. Courts of equity, however, will not enforce a specialty contract unless it is founded on a consideration.

Simple contracts do not depend for their validity on any particular formality in their execution, but rather on the existence of a consideration.

Simple contracts are frequently classified as express and implied. An express contract is one entered into on terms expressed in spoken or written words. An implied contract is one that is inferred from the acts or conduct of the parties.

 

II. COMPREHENSION

A. Give the definitions for the following terms and expressions or explain in other words.

1. valid contract

2. party (of a contract)

3. legal

4. obligation

5. terms

 

B. Answer the following questions using the information from the text:

 

1. What is the definition of a contract?

2. What basic types of contracts can you point out?

3. What is a contract of record?

4. What is a covenant?

5. What are the requirements for a valid contract?

6. What is an express contract?

 

2. Complete the following sentences according to the information from the text:

1. According to US law, a contract is …

2. The four basic features of a contract are …

3. A subject matter of a contract must not be…

4. Contracts may be either…

5. … must be written and signed.

6. Contracts of record, are …

7. Courts of equity will not enforce… from the acts or conduct of the parties.

3. Complete the consonants and match the following legal terms with their definitions:

1. a..ee.e..	a) the state or quality of being legal or lawful
2..a.i.i.y	b) a person, especially one who participates in some activity such as entering into a contract
3..e…	c) the act of agreeing
4..a..y	d)) the act of agreeing
5..o.e.a.	e) any claim, title, etc., that is morally just or legally granted as allowable or due to a person
6. o..i.a.io.	f) conditions of an agreement
7..i…	g) a binding agreement; contract

Choose an answer for each question.

1. What do simple contracts depend on?

2. What is the usual form of specialty contract?

3. What is one of the essentials of a contract?

4. What kinds of contracts do not require consideration or surrender of a right?

5. What is the other term for contracts by specialty?

6. What is an express contract?

7. What kinds of contracts must be written and signed?

 

1. It is entered into on terms expressed in spoken or written words.

2. They are contracts involving real estate; debt, or default of another person; etc.

3. A covenant.

4. Mutual assent.

5. On the existence of a consideration.

6. Simple contracts.

7. Contracts by specialty.

III. VOCABULARY STUDY

Match a line in A with a line in B.

 

A to create to have to make to be to depend to require to be inferred

B a contract surrender of a right an obligation on the formality from the acts enforceable legal capacity

 

 

Fill the gaps by adding a suffix to the word in brackets.

One of the … (interest) complexities of English contract law is that it bears the marks of two … (differ) conceptions of how a contract is formed, which derive from two different periods of English legal history. On the one hand, most legal … (history) agree that up until the nineteenth century the predominant conception of a contract in England was as a mechanism of exchange: giving something of value entitled one to something in return. When, on the other hand, the first contract textbooks came to be written in the late eighteen and early nineteenth centuries - the era when the teaching of … (nation) law began in English universities - authors drew inspiration from continental authors, especially the French legal academics Pothier and Domat. These authors developed structures and ideas in their work … (design) to describe the French law of contract, based … (large) on … (Rome) law as developed by medieval thinkers.

 

3. Choose the right preposition in brackets according to the contents of the sentences (on, as, between, upon, to, into, from, by, of).

1. Contract law has come to us … common law and it is said that it is an offspring of tort law.

2. Contracts, … the other hand, are a mechanism by which persons voluntarily create obligations themselves.

3. Contract law is the body of law that governs oral and written agreements associated with exchange … goods and services, money, and properties.

4. It includes topics such …the nature of contractual obligations, limitation of actions, freedom of contract, privacy of contract, termination of contract, and covers also agency relationships, commercial paper, and contracts of employment.

5. The important thing about any contract is to enter … a proper agreement that covers all the possible aspects of the arrangement and that you get it in writing.

6. Legally, contracts relating… the sale of land, disposition of any interest in land (including leases) and charges or mortgages over land, must be in writing and signed by the parties to the contract.

7. The exchange of goods and services is governed …contract law.

8. The law of contract is a set of rules governing the relationship, content and validity of an agreement … two or more persons (individuals, companies or other institution) regarding the sale of goods, provision of services or exchange of interests or ownership.

 

4. Explain what a contract includes. Use the following words and word combinations: written, pecuniary, duress, mutual, legal capacity, consideration, parties, fraud, oral, signed.

 

Explain when a contract may be cancelled.

Read this summary of the text. Say if the sentences are true or false.

The main features of a contract include five issues. Contracts may be oral, written or signed. All contracts must be simple. It is not good for a contract to be specialized. A covenant is the usual form of a simple contract. Validity is important for contracts by specialty. Simple contracts may be often express and implied.

 

 

Translate into Ukrainian.

Consulting agreement

This agreement is made as of the day of *, 20*

Between:

The N Performing Art Company (hereinafter referred to as "N")

And:

… (hereinafter referred to as the "Consultant")

1. Engagement

N hereby retains the Consultant and the Consultant hereby agrees to provide N with consulting services as set forth in Appendix 1, for a term of * days/months, commencing on [date], in accordance with the terms and conditions of this Agreement.

2. Consulting fee

N shall pay to the Consultant the sum of … * a day for up to, but not exceeding, * days. Payment shall be made to the Consultant on a monthly basis upon receipt of an invoice detailing the number of days for which services were rendered.

3. Confidential information

The Consultant acknowledges and agrees that it shall not, during the term of this Agreement, or at any time thereafter, directly or indirectly, disclose or grant access to N's confidential information to any third party, nor shall it use or exploit such information for any purpose other than those of N.

4. Status of parties

The Consultant's relationship with N shall be that of an independent contractor and not that of an employee or agent.

5. Termination

This Agreement shall be terminated immediately in the event: a) that a party has failed to perform or otherwise breached any of its obligations; b) of bankruptcy, insolvency or dissolution of either party; or (c) that either party shall make a general assignment for the benefit of its creditors or suffer or permit the appointment of a receiver for its business or assets.

 

SIGNED, SEALED AND DELIVERED THIS * DAY OF

PER: SECRETARY-TREASURER

THEN PERFORMING ARTS COMPANY

PER: CONSULTANT Name:

 

APPENDIX I

Expertise and services required to be performed by the Consultant:

(a) Expertise to be made available to N:

The Consultant will provide Mr./Ms. * to perform the services as required pursuant to the provisions of this Agreement.

(b) Services:

Insert the proper details. Some suggested considerations are outlined above in the guide - Section #12 (a - m). Please include any other relevant material

IV. GRAMMAR FOCUS