le3.1-types of contracts-voc. review

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