6. Below are the main areas of commercial law. Match each branch to the contents it covers. The first one is done for you.

Banking; Bankruptcy; Commercial Law; Consumer Credit Contracts; Debtor and Creditor; Landlord and Tenant; Mortgages; Negotiable Instruments; Real Estate Transaction; Sales; Secured Transaction

1. These regulations establish which institutions may offer credit and debit facilities - Banking

2. This law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors.

3. This branch of law governs the broad areas of business, commerce, and consumer transactions.

4. This law regulates how consumers may finance transactions without having to pay the full cost of the merchandise at the time of the transaction.

5. This law covers promises that the law will enforce. It provides remedies if a promise is breached.

6. This law governs situations where one party is unable to pay a monetary debt to another.

7. This law governs the rental of commercial or residential property. The basis of the legal relationship between the parties is grounded in both contract and property law.

8. This transaction involves the transfer of an interest in land as a security for a loan or other obligation. It is the most common method of financing real estate transactions.

9. These are ‘unconditioned writings’ that promise or order the payment of a fixed amount of money. Drafts and notes are the two main categories.

10. The agreement to sell between a buyer and a seller is governed by the general principles of contact law. It is normally required that these types of contract be in writing.

11. This branch of law regulates every phase of a transaction for the sale of goods and provides remedies for problems that may arise. It provides for implied warranties of merchantability and fitness.

12. This interest arises when in exchange for a type of loan a borrower agrees, in a security agreement, that a lender (the secured party) may take specified collateral owned by the borrower if he should default on the loan. ⁷⁴

Listening

Listen to the information about the international law and do the following tasks:

Complete the table

Laws that come from customs 1

Laws that come from treaties 2

Laws made by pulling member states’ authority 3

The law governing international relationships 4

The law governs the jurisdictions 5

Match the words (1-6) with the definition (a-f)

1) Public international law

2) Supranational law

3) Humanitarian law

4) Customary law

5) Conventional law

6) Private international law

A __ Laws that originate from treaties

B __Laws which govern how countries interact

C __Laws which govern the jurisdiction of cases

D __Laws which originate from customs

E __Laws that govern war

F __ Laws enforced by many pooled authorities

Read the sentence pairs. Choose where the words best fit in the blanks.

Supersede/ derive

1) The laws ______ from a treaty written in 1857.

2) The new law will ______ the old one.

Pool/override

1) The organizations want _____ the clients to create one large organization.

2) These new customs _____ the old treaty in this case.

Genocide/slavery

1) ______ has reduced the population by a third.

2) ______ forces people to work with no pay.

Entity/treaty

1) Twenty countries have signed the ______.

2) The northern area is sometimes considered a separate ______ .

Listen to two students discussing international law. Mark the following statements as true (T) or false (F).

a) _____ public international law applies to multinational companies.

b) ______ customary and conventional law are both sources of law.

c) _____ customary law is based on international agreements and treaties.

Listen again and complete the conversation.

S1: So, what’s 1 ___ ____ ____ then?

S2: That determines which legal system and which jurisdiction applies to a 2 ___ _____ .

S1: Hmm… Can you explain 3 _____ _____ and conventional law?

S2: Sure. They’re both sources of international law. That’s where the rules come from.

S1: And what’s the difference between the two?

S2: Customary law is the law that 4 ____ from the customs of states over the years.

S1: Oh, like attitudes towards 5 ____ and things like that?

S2: Yes. And 6 _____ ______ comes from treaties and international agreements, and increasingly from the practices of international organizations. ⁷⁵

Writing

Find out some facts about the punishments in the past. Compare them to the present day punishments.

Topic 2. The law and the Family