I. Language Practice. 1. Practise the fluent reading and correct intonation:

1. Practise the fluent reading and correct intonation:

— `How did you `get on in your ö exams?

— I ö passed.

— /Congratuölations! What ö `marks did you `get?

— Three ø fives and a ö four.

— `Well ö done. `Now you can reølax and ö enjoy your`self for a `bit.

— ö Yes. It’s a `big reölief.

2. Listen to the speaker; read and memorize the following words and phrases:

1. to engage - заниматься

2. trade - ремесло

3. occupation - занятие

4. county clerk - служащий округа

5. at will - по желанию, по усмотрению

6. power - право

7. charter - устав

8. consent - согласие

9. to terminate - заканчивать, завершать

10. to dissolve - расторгать, аннулировать

11. bankruptcy - банкротство

12. misconduct - дурное поведение

13. authority - полномочие

14. cash - наличные деньги

15. debt - долг

16. to mortgage - закладывать

17. good faith - добросовестность

18. dealings - торговые дела

19. to account - отвечать (за что-либо)

20. liability - ответственность

21. to permit - разрешать

Text. Partnership

Partnership, in law, term applied to an association of two or more persons who have agreed to combine their labor, property, and skill, or some or all of them, for the purpose of engaging in lawful business and sharing profits and losses between them; in this definition the term business includes every trade, occupation, and profession. The parties forming such an association are known as partners. Partners may adopt a fictitious name or use a real family name. In the U.S., most states require the filing of a certificate of partnership with the county clerk when an assumed name is used. The agreement to form a partnership is known as a partnership contract, the most important provision of which spells out the manner in which profits are to be distributed.

A partnership can be formed only by contract; the Statute of Frauds requires the agreement to be in writing if the term exceeds one year; failure to comply results in a partnership at will. Any number of persons may contract to form a partnership, and firms of partners may enter into partnership with one another. By contrast, in most states, a corporation has no power to enter into a partnership unless such power is expressly given in the corporate charter. New members may be admitted into an existing partnership only with the consent of all the partners. The agreement of partnership generally is for a definite term of years; if no duration is specified, it is said to be a partnership at will and can be terminated at any time by any partner. By agreement of the members, a partnership may be dissolved or terminated and the terms of the partnership agreement modified at any time. Death or bankruptcy of a partner, the insanity or misconduct of a partner, and the end of the period fixed for the duration of the partnership also operate to terminate the partnership.

A partner acts as an agent of the firm in the conduct of its business. Authority to act depends not only on the express powers given to a partner by the partnership agreement, but also on the implied powers resulting from the partnership relation and the nature of the business conducted. In the case of a partnership formed to conduct a wholesale or retail business, for example, a partner has implied power to borrow money for trade purposes, to buy on cash or credit, to make contracts and negotiable instruments to hire employees, to pay firm debts and sell or mortgage property for that purpose and to receive payment of debts owed the firm. A partner must, however, exercise the highest degree of good faith in all dealings with the other partners, devote time and attention to the partnership business, and must account to the other partners for any secret profits made in the conduct of the partnership business. The liability of a partner for partnership debts is said to be unlimited, except when the partner is a limited one in a limited partnership organized in accordance with the provisions of a state statute permitting such limitation of liability.

II. Exercises on the Text:

3. Give English equivalents to:

термин, касающийся объединения двух или более лиц; термин деятельность (бизнес) включает любое ремесло, занятие или профессию; фиктивное название; заполнение сертификата товарищества; означает способ; если срок превышает один год; корпорация не имеет права вступать в товарищество; корпоративный устав; если не указана продолжительность; в любое время любым партнером; умопомешательство или дурное поведение партнера; осуществление своей деятельности; характер осуществляемой деятельности; партнер приобрел право занимать деньги для торговых целей; условия договоров для найма служащих; уделять время и внимание; в соответствии с законом штата.

4. Complete as in the text and translate into Russian:

1. The parties forming such an association... 2. Partners may adopt a fictitious name or use... 3. A partnership can be formed only... 4. New members may be admitted into an existing partnership only with... 5.... it is said to be a partnership at will and can be terminated at... 6. A partner acts as an agent to the firm in the conduct... 7.... for example, a partner has implied power to borrow money for trade purposes? To buy on cash or credit? To make contracts and negotiable instruments to hire employees? To pay...8. The liability of partner for partnership debts is said to be unlimited, except when partner is a limited one in a limited partnership...

5. Sum up what the text says about:

partnership as a term in law;

the formulation of a partnership;

the terms of partnership agreement; partner’s authority;

the liability of a partner.

6. Imagine you are a firm’s manager. Using the following scheme answer the questions:

1. How many departments are there at the company?

2. How many managers do work at the company?

3. What is in your opinion the most important department?

4.Are there any overseas branches?

Дата добавления: 2014-12-29