I'll have three weeks' holiday.

1) The Board meeting lasted two hours.

2) It will take the rep six hours to travel from London to Edinburgh.

3) The delay on delivery was four weeks.

4) The production cycle will take us two weeks.

5) The company has a history of 25 years.

VI. Complete the following sentences:

1) Peter Wiles has a hectic day because ……………………………………

2) If Harper & Grant fail to deliver the goods on time…………………..

3) Harper & Grant cannot honour their contract as ……………………..

4) Salespeople usually accept penalty clauses because ………………

5) The hold-up on delivery happened due to ………………………………

VII. Translate the following into English:

1) Если сроки не будут соблюдены, фирма потеряет деньги, т.к. контрактом предусматриваются штрафные санкции за невыполнение договора.

2) Мы можем потребовать от наших поставщиков возмещения убытков из-за срыва сроков поставок. Это компенсирует наши потери.

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3) Придется объявить аврал и внести изменения в производственный процесс.

4) Выплата двойной зарплаты за работу в воскресенье обойдется нам дешевле, чем неустойка, которую придется платить, если этого потребует заказчик.

5) Мы можем потерять 10% от стоимости контракта за каждую неделю просрочки.

COMPREHENSION QUESTIONS

1. What are the plastic coated metal sheets wanted for?

2. What are the conditions of the penalty clause?

3. Why couldn't Peter claim compensation from their suppliers for overdue delivery of materials?

4. What was the final solution to the problem? Was it a good solution? Could you suggest any other way out of the situation?

ADDITIONAL VOCABULARY

Contract

What is a contract? Read the following definition and compare it with your own one.

A mere agreement is not yet a contract. Otherwise an arrangement between two friends to take a walk together, or, to dine together, might give rise to an action at law. Commonly, the term "contract" is used by English lawyers to convey the idea of the responsibility which arises from the voluntary engagement of one person to another. A contract gives rise to certain rights and obligations. But these rights and obligations cannot arise except between parties to the contract. Written contracts are not always more binding than oral contracts. A contract may be binding upon one party to the contract and not upon the other. In order to make a valid contract one must observe certain necessary conditions.

Contract combinations. Adjectives

executory illegal under seal null and void executed contract voidable parol binding (in)valid (un)enforceable

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Match the combinations with "contract" with the following definitions:

1) carried out; performed

2) coming into operation at a future date; not yet performed

3) not legally binding

4) capable of being legally annulled and made void

5) imposing an obligation or duty

6) made orally or in writing but not under seal

7) having legal force, effective

8) unlawful

9) valid but not capable of being proved in a court of justice

Contract combinations. Verbs.

to conclude to sign to negotiate	to carry out to execute to perform to fulfill	to form to make to enter into	to renew to approve	to breach to break to violate to rescind to discharge(of) to avoid to abrogate to cancel to repudiate
a contract

Supply the English equivalents from the box to the following sentences.

1. In order to make имеющий законную силу contract one must

observe certain necessary conditions.

2. He имеющий исковyю силу means valid in itself, but not capable of being proved in a court of justice.

3. A court of law cannot придать исковую силу an agreement if it does not know what the agreement is.

4. A contract may быть обязательным для one party to the contract and not upon the other.

5. Исполненный contract is one in which the object of the contract is at once performed.

6. Неисполненный (подлежащий исполнению) contract is one in which one of the parties finds himself to do, or not to do, a given thing at some future date.

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Fill in the gaps using the wards from the box:

executory contracts, valid contract, enforceable agreement, an acceptance, contract, executed contract, offer

A contract is a(n) (1)……………….… between two or more competent persons, representing a(n) (2)…………….… by one person to do or not to do a certain thing and a(n) (3)………..……..…. by another. This definition, like most definitions, fails adequately to define so comprehensive term as (4)……………... . The reason is that it is impossible to compress into one sentence all the requirements and circumstances attending the formation of a(n) (5)………………..… . Where the thing agreed upon has been done, as in case of an article sold and delivered and payment made on the spot, it is called a(n) (6)…………… . (7)………………. , on the contrary, are those where something remains to be done as to do an act before a future date.

Translate the following into Russian paying attention to the underlined parts.