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D. The words below are often used in connection with contracts. Use some of them to complete the sentences which follow. You may need to put certain words in the plural
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| terminate condition provide for litigation clause binding | arbitration out of court section compromise breach term | agreement party comply with/abide by |
1) A contract is an … drawn up between two … It is divided into …, …, and …
2) The contract … … any problems between two parties. The conditions of the contract are … on both parties. If one party does not want … … the clauses, this is called a … of a contract.
3) In the case of a dispute, many contracts provide for …, but in some cases the dispute results in … Most parties reach a … without going to court, and the dispute is settled … …
4) Some contracts are for a fixed period, or …, also, there are ways in which the parties can end, or …, the contract.
Reading 4: Draft Contract
| The firm BINGO Ltd hereinafter known as the «SELLER», on the one hand, and MONKBERRY MOON DELIGHT plc hereinafter referred to as the «BUYER», on the other hand have concluded the present Contract on the following: The Seller undertakes to sell the Buyer and the Buyer undertakes to buy 120,000 super widgets* in accordance with specification and conditions stipulated in Annexe No. 1 to the present Contract, which is an integral part of this Contract. All freight/loading and insurance charges will be covered by the Seller. The terms of payment and immediate payment of delivery charges by confirmed and irrevocable letter of credit are to be standard. A penalty clause will be included in the contract. It will be invoked against the Seller for late delivery or substandard quality; against the Buyer for late payment. In the event of non-payment, the Seller shall be entitled to reclaim the goods. In case of dispute between the parties to the contract, the matter will be taken to independent arbitration. All the terms of the contract must be compiled with both parties. |
* widget - условное название для любого вида товаров
Дата публикования: 2014-10-25; Прочитано: 605 | Нарушение авторского права страницы | Мы поможем в написании вашей работы!
