Strengths and Weaknesses of Different Forms of Business Organization

Proprietorships, partnerships, and corporations have certain advantages and disadvantages. These can be considered using the following criteria: simplicity, ability to raise capital, liability, control, taxation, etc.

Of the three basic forms, the proprietorship is the simplest. The legal procedures for starting a proprietorship are limited to registering the company's name. Going out of business is also, very easy: no legal procedures are required. Starting a partnership is less complex than starting a corporation, but somewhat more so than starting a proprietorship. Simplicity has its advantages but it is not the only thing to consider when choosing the right form of business organization.

Ways of raising capital are different under different forms of business organization. The source of capital for a proprietorship usually is the owner's own savings and loans from banks. More capital can be raised by bringing in partners or by incorporating. The so-called venture capital market is another important source of capital for new business.

A major difference among organizational forms is the degree to which owners are personally liable for debts of the business. If a proprietorship fails, creditors can claim owner's property to pay off the debts of the business.

For a partnership, liabilities can also be a serious problem. The limited liability feature of the corporation is its biggest advantage.

X. Знайдіть в тексті та запишіть про:

1. three basic forms and their criteria;

2. the legal procedures for starting a proprietorship and a partnership;

3. ways of raising capital and a major difference among organizational forms.

XI. Прочитайте і письмово перекладіть діловий лист. Напишіть відповідь на лист.

P.Matthews

Technology in Engineering

45 Broughton Street

Brighton

Software Unlimited, Inc.

Attn: Customer Service

January 17, 2016

Dear Sirs,

Please cancel my account and give me a full refund on my credit card. I was unable to use your software on my computer and loading it onto my computer gave me problems with other existing software.

When requesting a refund, I was told be one of your phone assistants that I could not cancel my account by fax without losing $50 set-up fee. I was also informed that I needed to write a letter of explanation to the Law Service Department in order to get my money back.

I find this system extremely frustrating. I should be able to receive an approval of me refund by fax or phone call. I must say I’m disappointed with your software and your company.

Yours faithfully,

P.Matthews

КОНТРОЛЬНА РОБОТА № 2

Варіант 4

І. Перепишіть речення. Підкресліть присудок у ньому, визначте видо-часову форму дієслів та вкажіть їх інфінітив. Перекладіть речення.

Наприклад: Are you producing the car ("Volga") this month?

(Present Continuous, Active); to produce – випускати, розробляти

В цьому місяці ви робите випуск машини "Волга"?

1. The price list will be typed by our secretary in half an hour.

2. Yesterday the important contract was signed.

3. The Sellers have sold and the Buyers have bought on cif terms 10000 kg of Chemicals.

4. My Chief has just concluded this Contract.

5. My husband was speaking with his neighbour when it began to rain.

6. Is it raining of snowing now?

7. Не wanted to know whether he would be in time for the plane.

8. They are constructing some new metro lines now.

9. We were reviewing grammar the whole morning yesterday.

10.I had translated the article before there came a knock at the door.

ІІ. Перетворіть подані речення в запитальні та заперечні. Запишіть їх. Перекладіть речення на українську мову.

1. They have solved many important problems.

2. It seldom snows here in winter.

3. It takes them two hours and a half to get home.

4. Last month my sister worked much at her pronunciation.

5. There are many unknown words in this text.

ІІІ. Подані речення перекладіть на українську мову. Вкажіть модальне дієслово або його еквівалент, визначте функцію модального дієслова.

1. We can offer you a discount of 5% as we have been good partners for a long time.

2. How many foreign languages are you able to speak.

3. Child is not allowed t play so late.

4. Who can make good coffee?- My Aunt can.

5. A great number of plastics should find their application in the electrical industry.

6. Chemical means had to be used for the separation of compounds into their elements.

7. The students must do this work properly.

8. I couldn't come to school early.

9. Must the students do the exercises in writing? - No, they needn't.

10. Will you have to go there tomorrow?

IV. Поставте запитання до виділених слів.

Приклад: I was examining the new model at the exhibition when it began to rain.

What were you doing when it began to rain?

1. There are discussing prices with the customers.
2. Enquiries can be sent by mail by telex or by fax.
3. Ann is talking over the phone now.
4. The Contract is made between two companies.
5. They explain the job, what the person will have to do.

V. Перекладіть подані речення на англійську мову, вжива­ючи відповідні модальні дієслова. Визначте функцію модаль­них дієслів у реченнях.

1. Ви можете піти у сусідню кімнату і відпочити там у зручному кріслі.

2. Чи зможете ви дістати квитки на цю чудову виставу?

3. Чи можу я попросити вас пояснити мені це правило ще раз?

4. Йшов сильний дощ і їй довелося взяти парасольку.

5. Вони вже закінчили роботу і можуть іти з нами в кіно.

6. Вона не могла зупинити сльози.

7. Коли їй було десять, вона впала з велосипеда і зламала руку.

8. Можна мені взяти ваш велосипед на півгодини? - Так, звичайно.

9. Шлях до готелю був дуже довгий і складний. Він не міг пройти його без карти.

10. Ну як контракти? Можна мені на них подивитись?

VI. Розкрийте дужки та поставте дієслово-присудок у правильну часову форму.

1. When we were in the country last summer, I (to go) to the wood one day. There I (to find) a little fox cub.

2. My friend (to go) to the library every Wednesday.

3. Your mother (to cook) every day?

4. Don't make a noise! Father (to work).

5. You (to invite) your cousin to stay with you next summer.

6. His grandfather (to listen) to rock'n'roll music. That (to be) strange! He always (to listen) to classical music.

7. He (not to sleep) when father came home. He (to do) his homework.

8. When you (to go) to school the day before yesterday, I met Mike and Pete. They (to talk) and (to laugh). They told me a funny story.

VII. Поставте дієслова, подані в дужках, у відповідну форму пасивного стану. Перекладіть речення на рідну мову.

1. The foreign delegation (to show) this factory yesterday.

2. Many similar articles (to translate) next term.

3. The book (to enjoy) by a person of any age.

4. I (to give) little time to think it over.

5. The students (to examine) in History next spring.

6. The doctor always (to send for) in cases like this.

7. The meeting of friendship (to attend) by thousands of people.

8.The students of various specialities (to train) at 16 faculties of the University.

9.Very interesting articles (to publish) in this magazine regularly.

10.Many mistakes (to make) by the student in his answers at the last lesson.

VIII. Перекладіть подані речення на англійську мову, вжива­ючи відповідну форму пасивного стану.

1. Його попросили взяти участь у міжнародній конференції з питань регуляторної політики та економіки.

2. Ця стаття написана одним з найбільш відомих англійських журналістів.

3. Ким написана та цікава книжка?

4. Коли екзамен був складений, студенти пішли на стадіон.

5.Студенти нашої групи завжди запрошуються на засідання клубу.

6. Диктант був зданий викладачеві після дзвоника.

7. Він обіцяє, що переклад буде закінчений вчасно.

8. Їх будуть навчати французької наступного року.

9. Я впевнена, що вам зададуть багато запитань, коли ви будете розповідати про свою подорож.

10.Після лекції нам покажуть фільм про Лондон.

IX. Прочитайте і письмово перекладіть тексти.

The first step is usually an investigation to determine who may have committed a reported crime. The investigators seek evidence to present in court. Usually an arrest warrant (written court order) must be issued by a court for the suspect to be arrested. Upon arrest, the suspect must be booked (fingerprinted and photographed). After the booking, a judge, in a preliminary hearing, determines whether the suspect shall be kept in jail or released on bail. Bail is a sum of money or property deposited or pledged to guarantee that the arrested person will appear for a preliminary hearing or trial. The amount in each case is set by the judge.

A person injured by the wrongful conduct of another may be able to obtain relief from the court and bring a civil action against the wrongdoer.

A civil action involves two parties. Each of these parties may consist of one or more persons. The party who brings a civil action in order to enforce a private right is the plaintiff. The party against whom the civil action is brought is the defendant.

In state courts, the plaintiff begins a civil action by filing of complaint with the clerk of the court. This step is usually done by the attorney for the plaintiff. The complaint states the plaintiff's claims, which allegedly justify the relief demanded.

X. Прочитайте і письмово перекладіть діловий лист. Напишіть відповідь на лист.

Swift and Co

43, Fleet Street

New York

the USA

January 23, 2017

Dear Sir,

We have received your letter, and I’m writing to you on behalf of our company. We appreciate your having taking the time to write us about your problem. We are always trying to improve our product and services.

We have cancelled your account as you requested and are sending you a refund. We apologize for the lengthy process in recovering the set-up fee; we are in the process of changing our policy so that refunds will be made more quickly.

We are sorry for any inconvenience this situation may have caused you. Should you have any further questions, please call me.

Sincerely yours,

Michael Lanon

Law Service

КОНТРОЛЬНА РОБОТА № 2

Варіант 5

І. Перепишіть речення. Підкресліть присудок у ньому, визначте видо-часову форму дієслів та вкажіть їх інфінітив. Перекладіть речення.

Наприклад: Are you producing the car ("Volga") this month?

(Present Continuous, Active); to produce – випускати, розробляти

В цьому місяці ви робите випуск машини "Волга"?

1. You have just brought us good news.

2. At what prices were the goods sold?

3. The names of all the partners of the film are printed on the stationery of a partnership.

4. Enquiries can be sent by mail, by telex or by fax.

5. Employees are listening to the radio now.

6. That announcement confirmed once again the beginning of the Atomic Age.

7. Sechenov was elected an honourable member of the Russian Academy of Sciences only in 1904.

8. They were performing experiments when the teacher addressed them.

9. My friend always stays at school after classes.

10. The Games were organized and held up to the year of 393.

ІІ. Перетворіть подані речення в запитальні та заперечні. Запишіть їх. Перекладіть речення на українську мову.

1. You have just brought us good news.

2. At what prices were the goods sold?

3. The names of all the partners of the film are printed on the stationery of a partnership.

4. Enquiries can be sent by mail, by telex or by fax.

5. Employees are listening to the radio now.

ІІІ. Подані речення перекладіть на українську мову. Вкажіть модальне дієслово або його еквівалент, визначте функцію модального дієслова.

1. We are able to deliver only 15 boxes of equipment in December.

2. Managers have to finish reading the Contract today.

3. Secretary often has to meet foreign businessmen at the airport.

4. Are they allowed to smoke?

5. He ought to invite his younger brother to the party.

6. Heat can be divided into three different types.

7. І can cook very nicely.

8. You may go out today. It's not cold.

9. The existence of an X-ray laser in the future may be possible.

10. The application of digital computers should include all forms of automatic control in science and industry.

IV. Поставте запитання до виділених слів.

Приклад: I was examining the new model at the exhibition when it began to rain.

What were you doing when it began to rain?

1. A corporation is headed by the Board of Directors.

2. My daughter will be preparing for the conference at 5 tomorrow.

3. Vera has just translated the agreement.

4. I was having talks with representatives of the foreign company at the Ministry.

5. It had already rained when the delegation arrived.

V. Перекладіть подані речення на англійську мову, вжива­ючи відповідні модальні дієслова. Визначте функцію модаль­них дієслів у реченнях.

1. Зможе виготовити він модель пароплава через тиждень?

2. Люди повинні щодня чистити зуби.

3. В неділю їй не потрібно рано вставати.

4. Вам потрібно буде наполегливо працювати, щоб належно підготуватися до екзамену.

5. Дитина зможе намалювати дуже гарну картину.

6. Вони можуть відвідати хворого товариша лише у вівторок.

7. Ви повинні скористатися словником, якщо хочете прочитати цю книгу.

8. Студент не повинен міняти теми тесту.

9. Його маленька сестричка може читати напам'ять багато віршів.

10.Вам потрібно було обговорити план екскурсії.

VI. Розкрийте дужки та поставте дієслово-присудок у пра­вильну часову форму.

1. The reactor (to become) a major source of heat and electricity.

2. Today many polymeric materials (to produce) on a massive scale.

3. Scientists (to find) ways of measuring the sizes and positions of bodies in the Universe.

4. Elements (to transform) into other elements both by man and by nature.

5. The launching of "Sputnik 1" (to follow) by many achievements in science and engineering.

6. The students (to examine) by the teacher in summer.

7. Many similar articles (to translate) next term.

8. The problem of the structure of matter (to occupy) the minds of many scientists.

VII. Поставте дієслова, подані в дужках, у відповідну форму пасивного стану. Перекладіть речення на рідну мову.

1. This castle (to be built) by somebody in the 16^th century.

2. The question (to be discussed) at the meeting yesterday.

3. English (to be spoken) in the USA.

4. The compositions (to be written) every week.

5. This work (to be finished) tomorrow.

6. During the test all books and vocabularies (to be shut).

7. The patient (to take) to hospital last Friday.

8. The pupils (to explain) a new rule at the next lesson.

9. He (to appoint) a new manager.

10.Dictations (to write) every day.

VIII. Перекладіть подані речення на англійську мову, вживаючи відповідну форму пасивного стану.

1. Ця робота буде закінчена до вечора.

2. Чи відкрили вже виставку?

3. Це питання вони обговорюватимуть на зборах академії.

4. Лист буде відправлено у четвер.

5. Нас попросили трохи зачекати.

6. Ким було винайдено радіо?

7. Першу групу студентів не екзаменуватимуть наступного тижня.

8. Де проведуть спортивні змагання?

9. Що вам подарували на день народження?

10. Зараз будується багато нових кварталів.

IX. Прочитайте і письмово перекладіть текст.

The scope of the law necessarily makes it complex, and complexity has created the need for specialists, namely lawyers. This puts the practice of law well beyond the reach of the layman. For legal assistance in specific instances, the services of a competent professional usually are advisable.

Basically, law is a system of rules. Members of a society establish these rules in order to live in relative harmony. To achieve this end, the individual relinquishes certain rights for the good of the group. For example, each person in this country has surrendered the right to drive on the left side of the highway in order for everyone to drive in relative safety.

At some time in his life, almost every individual is a victim of circumstances, which would justify his taking another person to court. In most cases, litigation is impractical because the cost of going to court will be more than the sum involved.

The small claims court provided an answer. The purpose of the small claims court system is to provide a friendly forum for the litigation of cases that have high personal importance but involve little money. A qualified judge presides over most small claims court proceedings. All such courts have jurisdictional limits.

X. Прочитайте і письмово перекладіть діловий лист. Напишіть відповідь на лист.

Peters, Bennett and Kramer, LLC

43, Fleet Street

New York

the USA

July 29, 2016

Dear Sirs,

My name is David Rose and I am applying for the position of associate attorney in the tax division of Peters, Bennett and Kramer, LLC which was advertised in the New York Times jobs online site. I am an extremely ambitious attorney always seeking to learn more about the intricacies of tax law. It is my goal to be the Internal Revenue Service’s worst nightmare.

I have worked exceedingly hard to get a top-tier education in accounting and law receiving numerous scholarships along the way. I earned my Juris Doctor from New York University and have passed the New York State Bar. I have a Master’s degree in Business Administration from the Wharton School of Business at the University of Pennsylvania and a Bachelor’s degree in Accounting from Notre Dame. I am also a certified public accountant.

During my third year of law school I participated in one of the coveted internships with George and Stein, PC. in Manhattan, and also worked part-time as an accountant at the Fisher and Campbell CPA Firm in Philadelphia while doing my graduate work at the Wharton School. I believe I have a wide range of practical experience as well as a stellar education that can be used to the benefit of the tax clients at Peters, Bennett and Kramer.

Along with my attached resume I have included 2 letters of reference. I am available any time to visit your office for a personal interview. I would welcome the opportunity and challenge to be grilled by some of your partners on my knowledge of tax law in America. Yours truly,

David Rose