5. Definitions Language use

Write definitions of sole trading, general partnership, limited liability partnership, limited liability company, unlimited company, public corporation. In your definitions mention ownership, management and liability for debts. Use the models:

A is a business which / where ...

В is an association of two or more persons...

C is a legal entity which...

6. Memorandum or articles? Law

a) Note down in the spaces provided whether you would find the following information in the memorandum of association of a company or in its articles of association.

whether the business is a limited liability company or a public limited 1...............

company, or an unlimited company

the name of the company 2...............

the amount of a company’s authorised share capital 3...............

who the subscribers to the company are 4................

a list of activities which the company can undertake 5.................

voting rights of shareholders 6..................

when and at what notice meetings are to be held 7..................

the size of majority required to pass resolutions 8..................

the number of directors, their powers and remuneration 9..................

whether a director is empowered to appoint an alternate director to act in 10..................

his absence

b) Transform the above into full sentences using the verbs or verb phrases below:

contain a clause / a provision stating.., lay down regulations concerning.., set out provisions for.., detail rules about..., provide for... Example:

The memorandum of association must contain an objects clause that sets out a list of activities which the company can undertake.

7. Forms of business organisation Note-taking

Make one-page Notes or a Mind Map of Text 1. Be ready to talk in front of the class using your notes.

7. Which type of business? Law

Work in groups of four. Each of you should write a short description of one type of business under the UK law without naming it. Read your descriptions to the group and let them guess what type of business you have described.

Example. This type of business is not an artificial person but a natural one. It has no minimum capital requirement. There is no legal need for a deed of incorporation, and all the members of this type of company are its agents. Its liability is unlimited, which means that the owner will suffer all the risk should the business fail. Since the owner is also the manager of the company, in the case of his retirement or death the company is dissolved.’

7. ‘In case of’ Lexis

a) Read the examples and commentary in the box, and then complete the gaps in the exercise. Note that all these phrases are in a formal style.

EXAMPLES	COMMENTARY
1 In case of fire, ring the alarm bell.	used esp. in official notices or instructions; usu. followed by a verb in the imperative
2 Britain agreed to support the US in the event of war.	used esp. when you are planning what to do if the situation does occur
3 In the case of Mrs Bellamy, I think we should make an exception.	= ‘as regards’, ‘concerning’, esp. when using it as an example of sth, or when comparing it with sth else
4 Take an umbrella in case it rains. Take an umbrella just in case.	refers to a situation which may or may not arise
5 Don't go near the water in case you fall in.	denotes negative purpose; instead of ‘lest’, which is no longer used in conversation
6 *ln case you have any questions, please ask me. If you have any questions, please ask me.	American English. Incorrect in British English! British English

NB: 'in case of and ‘in the event of may sometimes overlap, e.g. ‘In case of illness / in the event of illness, send for the doctor’.