Speaking questions (course ) term Units 1,5,7,10

1) Acceleration - clause in a contract requiring the obligor to pay all or a part of a payable amount sooner than as agreed upon the occurrence of some event or circumstance stated in the contract, usually failure to make payment
2) Assignment - clause prohibiting or permitting assignment under certain conditions
3) Confidentiality - clause concerning the treating of information as private and not for distribution beyond specifically identified individuals or organizations, nor used other than for specifically identified purposes
4) Consideration - clause expressing the cause, motive, price or impelling motive which induces one party to enter into an agreement
5) Force Majeure - clause designed to protect against failures to perform contractual obligations caused by unavoidable events beyond the party's control, such as natural disasters or wars
6) Liquidated Damages - clause referring to an amount predetermined by the parties as the total amount of compensation a non-breaching party should receive if the other party breaches a part of the contract
7) Entire Agreement - clause stating that the written terms of an agreement may not be varied by prior or oral agreements because all such agreements have been consolidated into the written document
8) Severability - clause providing that, in the event that one or more provisions of the agreement are declared unenforceable, the balance of the agreement remains in force
9) Termination - clause outlining when and under which circumstances the contract may be terminated
10) Payment of Costs - clause setting out which party is responsible for payment of costs related to preparation of the agreement and ancillary documents
14.What is a Memo? Explain the elements of a memo.
A memo is a formal text type used, for example, to outline or clarify a point of law or to provide a brief opinion on a case. Memos can be external (e.g. to a client) or internal (e.g. to another lawyer in the same firm). In either case, a memo serves to circulate information that requires the attention of its readers.
The elements of a memo:
1) A heading - includes the components Date, To, From and Subject;
2) The subject line - states the main idea of the memo in fewer than ten words;
3) The context - refers to any sentences providing background information about the project in question (such as a reference to an event or to a previous request for information);
4) In the main message, individual points should be organised in descending order of importance, i.e. most important ones first, subordinate or supporting points later;
5) The action close is a clear call to action - an explanation of what should be done, in what way, by whom and by what date.
15.What is the role of a negotiator in the Contract law? Speak about any techniques for successful negotiating.
A contract negotiator is responsible for evaluating contract agreements and documents, negotiating terms with clients and customers, and resolving contract disputes. Contract negotiators manage parties' business deals and ensure that the conditions adhere to the company guidelines and state regulations.
Now I'd like to turn to some general negotiating techniques. It's good practice to separate the issues at stake into different categories in your mind: things you can't possibly accept, major points, minor points and things you can easily live without. Then you can make trades with the other side, one item for another. This is also known as 'horse-trading'. It can go like this: 'I'll change this provision like you want if you agree to add a provision that I want'. When it comes to discussing numbers, if possible let the other side suggest the first number. In the case of a sales contract, for example, the first number the other side states is usually the least he expects to pay, whereas the seller's first number is the highest amount he thinks he might be able to get. My advice is to know the number you really want to end up with and try to suggest a starting number that'll force the other side to respond with a number that, when combined with your starting number, will average out to a number you'd be happy to accept. So what you do is propose meeting the other party in the middle by averaging the two numbers out.
16.When might a third party have rights under a contract between two other parties?
Generally, a contract operates to confer rights and impose duties only on the parties to the contract and no other parties. The principle that follows from this is that third parties have no rights and, as such, cannot enforce contractual provisions. This contractual relationship is summed up in the term privity of contract. However, in many jurisdictions, there are two exceptions to this general rule: the first is when the original contract provides for rights to be conferred on a third party, and the second is when contractual rights and duties are transferred to a third party at a later date.
17.What can a third party do if a contract is breached?
The existence of the right to enforce the contract does not make the third party a party to the contract. The third party simply has the right to sue on the contract, claim damages or an injunction as if they were a party to the contract.
18.Under what circumstances does the non-assigning party not have the right of first refusal?
In the case of a transfer of one party's interest in the Agreement to the party's heirs, personal representatives or conservators in the case of death or legal incapacity.
19.What kind of information must be included in the written notice?
The written notice must set forth all of the terms and conditions of the proposed assignment and all available information concerning the proposed assignee, including but not limited to information concerning the proposed assignee's employment history, financial condition, credit history, skill and qualifications, and in the case of a partnership or corporate assignee, of its partners or shareholders.
20.What is the privity of contract?
The doctrine of privity of contract is a common law principle which provides that a contract cannot confer rights or impose obligations upon any person who is not a party to the contract.
The premise is that only parties to contracts should be able to sue to enforce their rights or claim damages as such.
21. What is real property usually contrasted with?
English-speaking jurisdictions generally distinguish between real property (or immovable property) and personal property. Real property is a general term for land (freehold estates) and anything affixed to the land, and residential and commercial leases (leaseholds) whereas personal property (or personalty or movable property) refers to everything which does not fall under the heading of real property. The term real estate is often used interchangeably with the term real property. Use of the terms is dictated by context and the fact that, generally speaking, real estate is considered to be a broader term.
22. What is the general name for estates whose duration is not determined?