Английский язык для юристов. Предпринимательское право
Шрифт:
Damages awarded in excess of actual, incidental, or inconsequential damages where it is shown that the wrongful party acted with malicious intent and willful disregard for the rights of the injured party are punitive damages, also called exemplary damages.
Token damages awarded to parties who have experienced an injury to their legal rights but no actual loss are nominal damages. In today's practice, the award is usually one dollar.
Speculative damages are computed on losses that have not actually been suffered and that cannot be proved; they are damages based entirely on an expectation of losses that might be suffered from a breach. They differ from future damages in that speculative damages are not founded on fact but only on hope or expectation.
A decree of specific performance is a court order calling for the breaching party to do what he or she promised to do under the original contract of the unique subject matter.
An injunction is an order issued by a court directing that a party do or refrain from doing something. An injunction may be either temporary or permanent.
Exercise 1. Comprehension questions:
1. In what terms must be the contract performed when the time is not stated in the contract?
2. How is satisfactory performance of the contract determined?
3. How may be the contractual conditions classified?
4. What does a condition precedent require?
5. Explain what is a condition concurrent.
6. Think of examples of conditions subsequent.
7. What does tender of performance mean?
8. What does mutual rescission require?
9. Contrast termination by waiver and mutual rescission.
Exercise 2. Find in the text English equivalents to the following:
Прекращение
Exercise 3. Consult recommended dictionaries and give words or phrases to the following definitions:
Исполнение обязательств надлежащему лицу; исполнение обязательств третьим лицом; исполнение альтернативного обязательства; солидарные обязательства; встречное исполнение обязательства; исполнение обязательств по частям; валюта денежных средств; признание права; взыскание убытков; присуждение к исполнению обязанностей в натуре.
Exercise 4. Be ready to talk on one of the following topics:
1. Compare the different ways the court enforces performance of a contract.
2. Describe the standards that are used to determine whether or not the performance of a contract is satisfactory.
3. Contrast complete performance with substantial performance.
4. Discuss the ways that contracts are discharged.
5. Identify the remedies that are available to an injured party when a contract is breached.
Exercise 5. Make up your own dialog on the case: In Grandi v. LeSage, the buyer purchased a racehorse for breeding purposes. The seller had represented the horse to be a stallion; in fact, the horse was a gelding. The buyer revoked acceptance and brought suit to recover purchase price and incidental damages. The final award included incidental damages for the care, feeding, and maintenance of the horse for about three month at $1.50 per day.
Unit 11
Nature and Kinds
Сущность и виды оборотных документов
К ценным бумагам относятся документы, удостоверяющие с помощью установленной формы и обязательных реквизитов имущественные права, осуществление или передача которых только при их предъявлении (глава 7 ГК РФ). Права, удостоверенные ценной бумагой, могут принадлежать предъявителю ценной бумаги, либо названному в ценной бумаге лицу, либо названному в ценной бумаге лицу, которое может само осуществить эти права, либо назначить своим распоряжением другое управомоченное лицо. К ценным бумагам относятся: государственная облигация, облигация, вексель, чек, депозитный и сберегательный сертификат, банковская сберегательная книжка на предъявителя, коносамент, акция, и др.
– acceptor – акцептант
– bill of exchange – переводной вексель, тратта
– certificate of deposit – депозитный (вкладной) сертификат
– comakers – лицо, берущее на себя обязательство уплатить долг в случае несостоятельности должника
– demand note – простой вексель, срочный по предъявлении
– discounting – дисконт, операции по дисконту, учет (векселей), ставка учета, дисконтирование
– draft – переводный вексель, тратта, чек
– drawee – трассат (лицо, на которое выставлена тратта)
– drawer – трассант, векселедатель, чекодатель
– holder – держатель; владелец; предъявитель (например чека)
– endorsee – индоссат, жират (лицо, в пользу которого сделана передаточная надпись)
– endorser – индоссант, жирант (лицо, делающее передаточную надпись, например, на обороте векселя)
– maker – векселедатель, трассант
– negotiable instrument – оборотный документ
– note – извещение; авизо, кредитный билет; банковый билет; банкнота, счет, простой вексель; долговая расписка
– payee – лицо, получающее платеж; ремитент; векселедержатель
– sight draft – тратта, срочная по предъявлении
– time draft – срочная тратта (платежом через определенный срок после предъявления)
– trade acceptance – акцептованный торговый вексель
A negotiable instrument is a written document that is signed by the maker or drawer and that contains an unconditional promise or order to pay a certain sum of money on delivery or at a definite time to the bearer or to order. The concept of negotiability of commercial paper is simple: When an instrument is transferred by negotiation, the person receiving the instrument is provided with more protection than was available to the person from whom it was received. The person receiving the instrument is able, in many instances, to recover money on the instrument even when the person from whom the instrument was received could not have done so.
There are three basic kinds of negotiable instruments: drafts (including checks), notes, and certificates of deposit.
A draft (also known as a bill of exchange) is an instrument by which the party creating it orders another party to pay money to a third party. The one who draws the draft (that is, the one who orders money to be paid) is called the drawer. The one who is requested to pay the money is called the drawee. The one who is to receive the money is known as the payee.