III. Agree or disagree with the statements:

1. Business law is also known as commercial law.

2. Business law deals with crime and punishment.

3. Commercial law covers rules that apply to business and transactions.

4. Business law is concerned with civil law.

5. Some business law applies to torts.

6. Criminal law sometimes governs business – related activities.

7. Numerous laws regulate the activities of all business.

8. Laws do not regulate the activities involved in the business.

9. Business law deals with sales property and bankruptcy.

10. Business law is concerned with crimes against society

IV. Answer the questions:

1. What is business law concerned with?

2. Can criminal law apply to business – related activities?

3. Are there any laws regulate business relations?

4. What laws regulate business relations?

5. What regulates the activities of all business and everyone involved in the business?

V. Match the first part of the sentence (1-5) with the second one (a-e).

1	The business law deals with	a	civil law, especially with contracts.
2	Criminal law would punish a firm	b	contracts, sales, property, bankruptcy, and negotiable instruments.
3	Some business law applies to torts -	c	that apply to business situations and transactions.
4	Business law is largely concerned with	d	private wrongs against individuals distinct from breaches of contracts.
5	Business law covers rules	e	that conspires with competitors to fix prices.

VI. Make up a plan of the text.

VII. Retell the text in a written form (in English or Ukrainian). Text 59. The law of contract

I. Read and memorize the following words and word combinations:

Enforceable –здійснюваний судовим порядком, breach of contract – порушення умов контракту, intentional – навмисний, a slander – усний наклеп, a libel – наклеп у письмовій формі, product liability – відповідальність за якість товару.

II. Listen to the text: The Law of Contracts

A contract is a legally enforceable, voluntary agreement between two or more parties. A contract is like a private statute, in which the parties define the considerations they owe each other. Contracts are generally part of most business transactions. They can be either express or implied. An express contract is one in which the words are actually put forth, either orally or in writing. Generally, oral contracts are just as legally enforceable as written contracts. (Some types of contracts must be in writing to be valid, such as for the sale of an interest in land.)

But since the words used in an oral contract may be difficult to prove at a later time when parties are in dispute, the best policy for business firms to follow is to put all contracts in writing. An implied contract results from the actions of the parties rather than from an explicit promise. For example, when a passenger boards a train, it is implied that the passenger will have a ticket when the agent collects them and that the train will provide safe transportation to the destination.