Text 2 Partnerships

A partnership is the relationship that exists between two or more persons who join together to carry on a trade or business.

Partnerships offer an easy way to overcome some limitations of proprietorships. The difficulties of finding suitable partners and the likelihood of disagreement explain why partnerships account for less than 10 percent of all American businesses.

Since partners are part owners, they share unlimited liability for the debts and obligations of the business. Partnership income is not separate from the personal income of each partner and is taxed at personal income rates.

The two major types of partners are general partners and limited partners.

General partners are active in management of the business, may make agreements that are binding on the business, are fully liable for its debts, and are taxed on their share of the profits.

The liability of limited partners is limited to the amount of capital they have invested in the business.

A partnership is a good faith arrangement, and so no partner may take advantage of the business for personal gain. By combining the talents and knowledge of two or more people, partnerships often have better management and sometimes greater stability than proprietorships.

The partnership is not a very stable form of ownership since its existence may be ended by the death, retirement or dissatisfaction of any one of the partners. The close personal relationship that must exist between partners can sometimes create problems.

6. Ответьте на вопросы:

1) What is a partnership?

2) Why do partnerships account for less than 10 percent of all businesses?

3) What kind of partners do you know?

4) Is the partnership a stable form of ownership?

5) What can create problems in a partnership?

7. Дайте на английском языке развернутое определение понятиям:

part owners –

general partners –

limited partners –

8. Согласитесь или не согласитесь со следующими утверждениями:

1) Partnerships offer an easy way to overcome limitations of proprietorships.

2) There are no difficulties in finding suitable partners.

3) Partnership income is separate from the personal income of each partner.

4) Partnerships often have better management than proprietorships.

5) Any partner may take advantage of the business for personal gain.

9. Вы – юрист и готовитесь к встрече с двумя клиентами, чтобы обсудить преимущества и недостатки создаваемой ими страховой компании. Подготовьте для них письменную информацию на английском языке

Part 3

1. Прочтите и запомните значение следующих слов и словосочетаний:

law n	закон, право, юриспруденция
bylaw n	уставные нормы (организации), постановление органов местной власти
charter n	устав
in spite of	несмотря на
be classified	классифицировать(ся)
according to	согласно, в соответствии с
quasi-public a	квазигосударственный
domestic a	внутренний, отечественный
license v	разрешать, давать право
net profit n	чистая прибыль
fulfill v	выполнять, осуществлять, исполнять
charitable a	благотворительный, милосердный
stockholder n	акционер
rules n pl	правила, нормы
govern v	управлять
internal affairs	внутренние дела
transfer v	переводить, передавать

2. Переведите следующие слова, обращая внимание на суффиксы и префиксы, характерные для разных частей речи:

specific, educational, non-profit, government, privately, taxation, expensive.

3. Подберите слова близкие по значению:

1) govern affairs	a) important a
2) vital a	b) benefit n
3) expect v	c) give back v
4) return v	d) home a
5) domestic a	e) property n
6) expensive a	f) wait v
7) ownership n	g) dear a
8) profit n	h) run affairs

4. Соотнесите английские фразы из левой колонки с их русскими эквивалентами в правой:

1) private citizens	a) квалифицированные менеджеры
2) to carry out work	b) принятие решений
3) skilled managers	c) двойное налогообложение
4) double taxation	d) получаемые дивиденды
5) dividends received	e) привлекать фонды
6) to attract funds	f) отдельные граждане
7) decision making	g) ограничения со стороны правительства
8) government restrictions	h) подвержены
9) are subject to	i) выполнять работу

5. Прочтите текст и постарайтесь понять его содержание: