le3.1-types of contracts-voc. review
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Legal English Unit 3
Types of contractsVocabulary
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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.
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Type of agreement Lease
between lessor and lessee
who pays rent
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Type of agreement Agencybetween principal and agentwho acts onbehalf of the principal.
If he is selling goods, he is usually paid a commission
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Type of agreement Mortgagebetween mortgagee (bank)
and mortgagor (borrower)who must pay the bankinterest and principal
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Type of agreement Licensingbetween Licensor and
licensee
The license grants them a
royaltieswho must pay
right.
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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
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Examples of distribution channels
Zara
Dell (Online computers)
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Type of agreement Employmentbetween employer and
employees
who is paid
a salary
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Type of agreement Salesbetween seller and
purchaser
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Type of agreement Loanbetween Lender and
borrower
who must pay
principal and interest
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Type of agreement Franchisebetween Franchisor and
franchisee
who must pay royalties,
which grant the latter the right to …use the trademark, know-how, etc.
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Type of agreement Consultingbetween Consultant and
client
who must pay fees.
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Type of agreement Consortium between Participant 1 &
Participant 2
who agree tocollaborate on a project.
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Type of agreement Stock purchasebetween the company and
the investorWhen stock is sold,ownership is… from one party to another.
transferred