le3.1-types of contracts-voc. review
DESCRIPTION
TRANSCRIPT
Legal English Unit 3
Types of contractsVocabulary
Type of contract
Translation Party A Party B Payment
lease agreement
arrendamiento
lessor lessee rent
In this presentation you will see common types of contracts. before you look at this presentation, draw a grid with the categories below. As you watch, complete the grid. Then do p. 135-136 in your book.
Type of agreement Lease
between lessor and lessee
who pays rent
Type of agreement Agencybetween principal and agentwho acts onbehalf of the principal.
If he is selling goods, he is usually paid a commission
Type of agreement Mortgagebetween mortgagee (bank)
and mortgagor (borrower)who must pay the bankinterest and principal
Type of agreement Licensingbetween Licensor and
licensee
The license grants them a
royaltieswho must pay
right.
Type of agreement Distributionbetween the company and the
distributor
who agrees to distribute the company’s goods withing a specified area called“the territory”He usually receives a ______________ for his services.commission
Examples of distribution channels
Zara
Dell (Online computers)
Type of agreement Employmentbetween employer and
employees
who is paid
a salary
Type of agreement Salesbetween seller and
purchaser
Type of agreement Loanbetween Lender and
borrower
who must pay
principal and interest
Type of agreement Franchisebetween Franchisor and
franchisee
who must pay royalties,
which grant the latter the right to …use the trademark, know-how, etc.
Type of agreement Consultingbetween Consultant and
client
who must pay fees.
Type of agreement Consortium between Participant 1 &
Participant 2
who agree tocollaborate on a project.
Type of agreement Stock purchasebetween the company and
the investorWhen stock is sold,ownership is… from one party to another.
transferred