Английский язык для юристов. Предпринимательское право
Шрифт:
Drawers may order a bank to stop payment on any item payable on their account. If a bank fails to stop payment on a check, it is responsible for any loss suffered by the drawer who ordered the payment stopped. The bank, however, may take the place of any holder, holder in due course, payee, or drawer who has rights against others on the underlying obligation. This right to be substituted for another is known as the bank's right of subrogation. It is designed to prevent loss to the bank and unjust enrichment to other parties.
Exercise 1. Comprehension questions:
1. Give definition of a check.
2. Identify special types of checks.
3. Identify the parties relating to a check.
4. What do the cashier's check and traveler's check have in common?
5. What are the requirements for traveler's check?
6. Explain what a certified check is.
7. In what situation postdating is practiced?
8. What are the benefits of electronic fund transfers?
Exercise 2. Find in the text English equivalents to the following:
Тратта,
Exercise 3. Consult recommended dictionaries and give words or phrases to the following definitions:
Чекодержатели; выставление чеков; выдача чеков; отзыв чека; реквизиты чека; оплата чека; депонирование средств; индоссированный чек; утраченный чек; подложный чек; передача прав по чеку; переводной чек; инкассирование чека; аваль чека; операции по счету; кредитование счета; оплата услуг банка; банковская комиссия; списание денежных средств со счета.
Exercise 4. Be ready to talk on one of the following topics:
1. Explain the form necessary for an instrument to be a check.
2. Differentiate between a bank draft and a cashier's check.
3. Compare the liability of parties to a check certified by the drawer with that of a check certified by the payee.
4. Outline a check's life cycle.
5. Explain the duties of a depositor relative to bad checks and examining accounts.
Exercise 5. Make up your own dialog on the case: In Cambridge Trust Co. v. Carney, defendant was a cosignatory with her husband on his business account in order to «insure» payment pursuant to a preliminary support agreement. After receiving an initial payment of $38,000, defendant neither deposited money in, withdrew money from nor received any statement from the bank regarding the joint account. Three month after the initial payment, defendant's husband deposited worthless check for $7,100, drew $6,000 against it, and disappeared into the gloaming. Bank sued defendant on the$5,902.88 overdraft. The New Hampshire Supreme Court held that since defendant neither participated in the transaction creating the overdraft nor received funds as a result of it, she could not be held liable for payment of it.
Unit 15
The Nature of the Insurance Contract
Сущность договора страхования
Страхование осуществляется на основании
По договору страхования одна сторона (страховщик) обязуется за обусловленную договором плату (страховую премию) при наступлении предусмотренного в договоре события (страхового случая) возместить другой стороне (страхователю) или иному лицу, в пользу которого заключен договор (выгодоприобретателю), причиненные вследствие этого события убытки (выплатить страховое возмещение) в пределах определенной договором суммы (страховой суммы).
– beneficiary – бенефициарий; выгодоприобретатель
– binder – временный страховой документ (до оформления полиса)
– comprehensive coverage – страхование нескольких видов (например, имущества) по одному договору
– concealment – сокрытие, укрывательство; утаивание, умалчивание
– double indemnity – выплата страховой суммы в двойном размере (если смерть застрахованного наступила в результате несчастного случая)
– estoppel – лишение права возражения, лишение стороны права ссылаться на какие-либо факты или оспаривать какие-либо факты
– indemnify – гарантировать возмещение вреда, ущерба
– insurable interest – страховой интерес
– insurance – страхование, страховая премия, страховой полис
– insured – страхователь || застрахованный
– insurer – страховщик
– misrepresentations – введение в заблуждение; искажение фактов
– no-fault insurance – страхование от вреда, наступающего без вины страхователя
– policy – полис (страховой)
– premium – страховая премия, страховой взнос
– underwriter – поручитель-гарант, страховщик
– waiver – отказ (от права, от претензии), изъятие (из общих правил); отступление; исключение; освобождение (от обязательств)
– waiver of premium – освобождение от уплаты страховых взносов
– warranty – гарантия; поручительство, ручательство; оговорка
The principal protection against losses from hazards is insurance. Insurance is a transfer of the risk of economic loss from the buyer to the seller, or the insurance company. The principle underlying insurance is the distribution of risk – which holds that small contributions made by a large number of individuals can provide sufficient money to cover the losses suffered by a few as they occur each year. The function of insurance is to distribute each person's risk among all others who may or may not experience losses.
The parties to an insurance contract are the insurer, or underwriter; the insured; and the beneficiary. The insurer accepts the risk of loss in return for a premium (the consideration paid for a policy) and agrees to indemnify, or compensate, the insured against the loss specified in the contract. The insured is the party (or parties) protected by the insurance contract. The contract of insurance is called the policy. The period of time during which the insurer assumes the risk of loss is known as the life of the policy. A third party, to whom payment of compensation is sometimes provided by the contract, is called the beneficiary.