Содержание

• Unit 1. The Structure of English legal System
• 1. Words to be remembered.
• 2. Text for reading.
• 3. Questions.
• Unit 2. Business Organisations
• 1. Words to be remembered.
• 2. Text for reading.
• 3. Questions.
• 4. Find the following sentences in the text.
• Unit 3. Business Organisations
• 1. Words to be remembered.
• 2. Text for reading.
• 3. Questions.
• 4. Find the following sentences in the text.
• Unit 4. Business Organisations
• 1. Words to be remembered.
• 2. Text for reading.
• 3. Questions.
• 4. Find the following sentences in the text.
• Unit 5. Shares and Shareholders
• 1. Words to be remembered.
• 2. Text for reading.
• 3. Questions.
• 4. Find the following sentences in the text.
• Unit 6. Consumer Protection
• 1. Words to be remembered.
• 2. Text for reading.
• 3. Questions.
• 4. Find the following sentences in the text.
• Unit 7. Bankruptcy
• 1. Words to be remembered.
• 2. Text for reading.
• 3. Questions.
• 4. Find the following sentences in the text.
• Vocabulary
• Latin terms

 

 

liability – ответственность

overlap – частично совпадать

extra-gratia (лат.) – по милосердию, из милости

sue – предъявлять иск

to sue for damages – предъявлять иск на возмещение убытков

natural person – физическое лицо

legal person – юридическое лицо

domicile – постоянное место жительства

allegiance – гражданство

alien – иностранец

matrimonial proceedings act – закон, действующий в сфере брачных

                          отношений

tortiously liable – ответственный за правонарушение

tort – деликт, гражданское правонарушение

charted – привилегированный, отмеченный грамотой

statutory – статутный, предусмотренный законом

case law – прецедентное право

legislation – законодательство

European Community Law – Европейское законодательство

Binding precedent – прецедент юридического обязательства

Ratio decidendi (лат.) – мотивы решения

obiter dictum (лат.) – мнение или высказывание судьи, не носящее

                 нормоустановительного характера

persuasive – использующийся с целью убеждения

overrule – аннулировать, отклонить, считать недействительным

per incuriam (лат.) – по невнимательности

dissenting judgement – особое мнение

equity – справедливость

equitable right – право, основанное на справедливости

common law – общее право

discretionary – представленный на усмотрение

lease – аренда

mortgage – ипотека, залог, кредит, вклад

fraud – обман, мошенничество

intra vires – в пределах компетенции, в пределах полномочий

promulgate – обнародовать

binding – имеющий обязательную силу

supremacy – верховенство

unconditional – безусловный

unqualified – безоговорочный

precedence – старшинство, приоритет

discretion – свобода действия

ruling – постановление (суда)

judgement – приговор, судебное решение

will – завещание

murder – убийство (заранее обдуманное)

rape – изнасилование

 

 

The Classification of English Law

 

In England the main distinction is between criminal and civil law. Criminal and civil liability overlap but criminal law exists to punish criminals and, although compensation payments are made under the Powers of Criminal Courts Act 1973, and the Criminal Injuries Compensation Scheme 1964 makes ex – gratia payments to victims of violent crime, these will generally sue in civil law for damages.

 

Legal Personality

 

Legal rights attach to legal persons; these can be (i) natural and (ii) artificial persons or corporations.

 

Natural persons

 

Important for natural persons are nationality and domicile, gender and race. Nationality determines a person’s public rights, such as allegiance, the right to vote and to sit in Parliament, although the nationals of one member state of the European Community have equal rights with nationals in other member states. A person will normally have only one nationality but may have dual nationality and can be stateless. Civil law generally treats nationals and aliens alike.

Domicile determines the regulatory legal system of a person. All people are domiciled somewhere and can only have one domicile at any given time. There are three types of domicile: (i) domicile of origin, (ii) domicile of choice and (iii) dependent domicile. Domicile of origin attaches to the person at birth. Domicile of choice arises where a person of full age and capacity establishes a permanent home in a country with the intention of remaining there. Dependent domicile was relevant for minors and married women whose domicile was dependent upon their parents or husband. The Domicile and Matrimonial Proceedings Act (DMPA) 1973 now allows married women to acquire a domicile separate from their husband, and minors to acquire an independent domicile at 16.

Corporations

 

The principal corporations are composed of a number of persons and classifiable as (i) chartered, (ii) statutory and (iii) registered corporations. Chartered corporations are created by royal charter. The earliest trading corporations were created in this way: The Hudson Bay Company, The East India Company. Today chartered corporations comprise professional  bodies such as the Institute of Chartered Secretaries and Administrators (ICSA). The older universities are chartered corporations. Statutory corporations are created by special Act of Parliament. Local authorities  are statutory corporations, as are the nationalised industries, although their number has been reduced through privatisation.  Registered corporations are incorporated under the Companies Act 1985 and are the normal trading companies.

 

Unincorporated associations

 

These have no legal personality and their property is jointly owned by the members who are also contractually and tortiously liable. Special rules relate to trade unions, employers’ associations and partnerships.

 

The Sources of English Law

 

The major sources are (i) case law, (ii) legislation and (iii) European Community law.

 

Case law

 

A statement of the law made by a judge in deciding a case establishes a precedent and will be relevant for future similar disputes depending on the status of the court. The doctrine of binding precedent depends on: (i) a court hierarchy and (ii) accurate and efficient law reporting, which were only fully achieved by the end of the nineteenth century.

 

The binding element in legal decisions.

Reports detail facts, names of parties, a statement of the law forming the basis of the decision and the judgement. Only the statement of law forming the basis of the decision is binding. Cases may contain other statements of the law. The binding statement is the ratio decidendi (the reason for the decision). Other statements are merely persuasive and are called an obiter dictum (a statement of law  made by the way).

A ratio decidendi is a statement of law applied to the legal problems raised by the material facts of the case as identified by the court upon which the decision is based. There are two types of obiter dictum: (i) a statement of law based upon facts which were either not found to exist or, if found, were not found to be material; or (ii) a statement of law which, although based on material facts of the case as identified by the court, does not form the basis of the decision. The first is a statement of law based upon a hypothesis. The second is a dissenting judgement in a court where there is majority decision.

 

Precedents which are not binding.

These include: (i) persuasive precedents; (ii) precedents which have been overruled; (iii) precedents which have been distinguished; and (iv) per incuriam precedents.

Equitable rights and remedies are discretionary, not claimable 'as of right' as with common law rights and remedies. Equity looks beyond legal formalities and enforces the intentions of the parties as in the recognition of leases and mortgages lacking the formalities required by the common law. Equity recognises agreements to create leases or mortgages as creating rights between the parties which can be specifically enforced by a decree requiring the drawing up of a formal lease or mortgage and developed a wider notion of fraud restraining people from doing something which would be inequitable; that is, unfair although legal.

The main value of equity today is that judges use their equitable discretion to avoid the rigidity of the doctrine of binding precedent.

 

Legislation

 

Legislation, the major source of law, exists in two forms: direct legislation in the form of Acts of Parliament and delegated legislation, in the form of by-laws, statutory instruments and Orders in Council. Parliament has absolute legislative power through Acts of Parliament to revise substantive rules of law, consolidate existing enactments, codify the law, implement treaties and introduce social legislation. In principle, no statute can limit the legislative freedom of future parliaments but major limits on this sovereignty arise through Britain's membership of the European Community.

Delegated legislation is enacted by bodies authorised by Parliament. Delegated legislation must be within the powers (intra vires) of the body enacting it, otherwise it is ultra vires and illegal. By-laws are passed by local authorities and other authorised bodies. Statutory instruments are made by government departments under authority given by direct legislation and introduce detailed regulations under the principal Act. This speeds up the legislative process by enabling regulations to be made and altered quickly without placing them before Parliament. An Order in Council is an order promulgated by the government but through the Privy Council.

 

 

The Courts in Great Britain

 

European Community Law

 

The sources of Community law are legislation and case-law. The legislation is primary for certain Treaty provisions whereas Regulations, Directives and Decisions of the Council and Commission under Article 189 of the EC Treaty are secondary or delegated legislation. In addition the decisions of the European Court of Justice (ECJ) and the Court of First Instance (CFI) are binding over the national courts of member states.

 

The direct applicability and direct effectivity of Community law

 

Britain is bound by the legislation emanating from the Community institutions. This is recognised in European Communities Act 1972 (ECA 1972).

The ECA 1972 provides for the supremacy of Community legislation by providing that Acts of Parliament have effect subject to Community provisions. In addition, English courts must interpret Community legislation using European methods.

A provision of Community law is directly applicable if it becomes part of the law of the member state automatically without needing to be incorporated into national law by direct or indirect national legislation. It is directly effective if it creates rights which are enforceable by the courts of a member state.

Community provisions which are only directly effective can only be enforced by a person against the member state or a state organ, not against other persons. They are therefore considered as having vertical direct effect since the person is enforcing the provision vertically against the state. Provisions have horizontal direct effect where they can be used as the basis of an action by one subject against another.

 

Legislation

 

Treaty provisions

 

The ECJ has established that some treaty provisions are directly applicable and directly effective both horizontally and vertically. Such provisions must: (i) not simply concern inter state relations, (ii) be clear and precise, (iii) be unconditional and unqualified; and (iv) not leave any substantial latitude or discretion to member states.

 

Regulations

 

Defined as having ‘general application’ and ‘being binding in [their] entirety and directly applicable in all member states’, regulations are used to introduce major changes in Community law applicable throughout the Community. They bind all member states and take precedence over all national legislation. A person living in a member state can enforce rights guaranteed by a regulation in the national courts of the member state.

 

 

1)      What are the two main branches of law in England?

2)      What are the two types of legal personality?

3)      How are corporations classified?

4)      What are the major sources of English Law?

5)      How is a precedent established in case law?

6)      What statement of law is binding?

7)      What are the sources of European Community law?

4. Find the following sentences in the text.

 

1)      В Англии основное различие – это различие между уголовным и гражданским правом.

2)      Физическое лицо обычно имеет только одно гражданство, но может иметь двойное гражданство или не иметь гражданства.

3)      Самые ранние торговые корпорации были созданы таким способом: Компания Гудзонова Залива, Ост-Индская Компания.

4)      Заявление, сделанное судьей при вынесении решения по делу, создает прецедент.

5)      Только заявление, создающее основу для вынесения решения, является обязательным.

6)    Решения Суда Европейских Сообществ и Суда Первой Инстанции обязательны для государственных судов стран-членов.

7)    Английские суды должны толковать законодательство Сообщества, используя Европейские методы.

 

5. Recite the main points of the text.

 

 

 

 

sole trader – единственный владелец, работающий без партнеров

partnership – товарищество

registered company – акционерное общество

loan – заем, ссуда, кредит

security of charges – гарантия оплаты

shares – акции

losses – убытки, потери

borrowing – заем

subsist – существовать

stipulation – обусловленность, договоренность

charitable – благотворительный

tort – правонарушение

incur – подвергаться

sue – иск, подавать иск

binding – обязательный

entity – экономическая единица, субъект экономической

деятельности

defendant – ответчик

promoter – учредитель

plaintiff – истец

mandate – поручение

credit (to) – давать кредит, кредитовать

authorise – наделять правами

repudiate – отказываться, аннулировать

unsound – психически ненормальный

passing-off – ведение дела под чужим именем

injunction – запрет, запретительная норма

illegal – незаконный

by implication – косвенно, подразумеваемым образом

inter alia (лат.) –

dissolution – прекращение, расторжение

winding up – прекращение

assets – активы

lease – арендовать

writ – судебное решение, предписание

judgement – решение суда

deficiency – недостаток, отсутствие

indemnify – гарантировать возмещение ущерба

to be entitled to – иметь право доступа

remuneration – вознаграждение

expel – исключать

fiduciary – доверительный

undertake – принимать, обязываться, брать на себя

freehold reversion – изменение права собственности, переход к

первоначальному собственнику

estate – собственность

vicariously liable – ответственный без вины за действия другого

common law – общее право

injury – вред, ущерб

bribe – взятка, дать взятку

rival – конкурент

wrongful act – неправомерное действие

legitimate – законный

illegitimate – незаконный

 

 

The basic business organisations in England and Wales are the sole trader, the partnership and the registered company. There are advantages and disadvantages associated with these different forms. The most important point of distinction is that, where persons choose to register a company, the company is a juristic or artificial legal person which, with certain obvious exceptions, enjoys the same rights under the law as a natural person. In the case of the sole trader or the partnership, no separate legal person is created. The main consequence is that the registered company provides the protection of liability for its members.

 

A. The Sole Trader

 

The proprietor may, of course, employ other people but the responsibility for the success or failure of the enterprise is in the hands of the sole trader who will usually raise the capital of the business by loans from banks against the security of charges on his private property, such as house, life insurance policy or shares. The proprietor retains all the profits but is liable for all the losses up to the full extent of his private fortune and any legal action in respect of the business will be brought against the proprietor.

The proprietor has great freedom but suffers disadvantages including: (i) limited capital, (ii) limited borrowing, (iii) problems with holidays and sickness, (iv) limited scope for expansion. But these would not necessarily be removed by incorporation.

 

B. The Partnership

 

The partnership allows for an increased capital base, improved borrowing and reduces the problems relating to holidays and sickness. The Partnership Act 1890 (PA 1890) defines a partnership as ‘the relation which subsists between persons carrying on a business in common with a view of profit’. There must be at least two persons associating for the purposes of carrying on a common business which includes any ‘trade, profession or occupation’. The stipulation relating to profit means that the form cannot be used for charitable or non-commercial purposes.

The partnership is not a separate legal person under the law, and partners are jointly liable for the debts and obligations of the partnership without limit, and jointly and independently for torts committed by partners and employees of the firm – even for partners who do not play an active part in the management of the business (so-called ‘sleeping partners’). Partnership is not suitable for a person who merely wishes to invest money in a business without incurring any further exposure to risk.

 

The definition of a partnership establishes the essential criteria required for proving the existence of a partnership. These are: (i) the existence of a business; (ii) carried on in common; (iii) with a view of profit. Thus the firm can sue and be sued in its own name under the Rules of the Supreme Court, but any judgement against the partnership is binding on the partners. In addition, the Insolvent Partnerships Order 1994 allows a partnership to be treated as an entity which can enter arrangements with its creditors in the same way as a limited company.

 

The existence of a business

 

The essential is that there must be some commercial venture. This excludes relationships whose basis is merely joint ownership of property without any common commercial venture.

In Keith Spicer Ltd  v. Mansell [1970] the defendant and another person intended to set up a company to take over and run a restaurant owned by the defendant. They opened a bank account in the name of the proposed company but left off the word ‘Limited’. The second promoter ordered goods from the plaintiff for the proposed company, which was never formed and the plaintiff sued the defendant for the price, arguing that the two persons were partners. The Court of Appeal rejected this. The defendant and the other promoter were merely working to form a company but not ‘carrying on a business in common with a view of profit’. Had  they actually started trading in anticipation of the company’s incorporation the decision would have been different.

Partnership can be formed for the purpose of carrying through one transaction: Mann v. D’Arcy [1968].

Carried on in common

 

The distinction which is important here is between being merely connected with the business in some capacity and actually participating actively within it. In Briton v. The Commissioners of Customs & Exise [1986], the court rejected the existence of a partnership between a husband and a wife where the wife merely helped in what was his business. In Saywell v. Pope [1979], Mr Saywell and Mr Pope were partners and their wives did some work for the firm. The firm expanded in 1973, after which the wives took a more active part in the business. The firm’s accountant suggested that the four should draw up a partnership agreement; this was done but the agreement was not signed until June 1975. Between 1973 and June 1975, the bank mandate still only mandated Mr Saywell and Mr Pope, the wives contributed no capital. A share of the profits had been credited to them for 1973 and 1974 but they had never drawn on them. The court agreed with the Inland Revenue that the wives only became partners in 1975 since, before the signing of the agreement, the wives had never done anything in the capacity of partners; they had never been integrated into the firm.

 

With a view of profit

 

The major essential in identifying the existence of a partnership relates to taking a share of profit from the business.

In Britton v. The Commissioners of Customs & Excise (1986) the profits from the business were paid into a joint bank account which operated both as a business account and the domestic account from which the wife drew. The court held that: ‘The profit was Mr Britton’s and Mrs Britton as his wife had access to it.’ Sharing profits did not of itself create a partnership. And in Saywell v. Pope (1979), the fact that the wives did not draw on the share of profits credited to them was regarded as evidence of absence of receipt of those profits which required something more than a mere entry in the accounts. What is required is a business in common as well as the sharing of profits.

 

Persons capable of being partners

 

A limited liability company can be a partner if authorised by its memorandum of association: Newstead (Inspector of Taxes) v. Frost [1980]. An enemy alien cannot be a partner.

A minor can be a partner but can repudiate the agreement at any time during minority or during a reasonable period thereafter, but will be unable to recover any money paid under the partnership agreement unless there is a total failure of consideration. In Steinberg v. Scala (Leeds) Ltd [1923] the plaintiff purchased shares in the defendant company, paying money on application and on one further call made by the company. Being unable to meet any further calls, she repudiated the contract while still a minor and claimed recovery of  the money already paid. The claim for recovery failed as there had been no total failure of consideration since the plaintiff had received what she had contract for. The minor will not be liable for any of the firm’s debts during minority but can ratify them on majority. Capital invested by a minor can be used to meet the firm’s debts. The minor can be the firm’s and the other partners’ general agent even though without personal contractual capacity.

A person who is unsound of mind can escape from a partnership agreement if he can show that he was unsound of mind when he entered the agreement and that the other partner(s) knew that he could not understand the nature of the agreement. The fact that a partner is unsound of mind is a ground for the other partner(s) to petition for the firm’s dissolution

 

Firm and the firm name

 

Partners may trade under any ‘firm name’ they please but where the name is not a combination of their own names, the name is subject to: (i) compliance with the Business Names Act 1985 and (ii) the common law tort of passing off.

 

The Business Names Act 1985.

There is a restriction on the use of words giving the impression that the bussiness is linked with central or local government; in addition certain words require prior permission: for example, bank, building society, trust and so on. Where a business name is used, the stationery and so on must carry the names and addresses of the individual partners and a notice must be prominently displayed at the place of business with the same information.

 

Passing off.

The firm name must not be so like that of an existing business as to cause confusion in the mind of the public. In Ewing v. Buttercup Margarine Co. Ltd (1917), the plaintiff, who traded in dairy products in the north of England and Scotland as the Buttercup Diary, successfully obtained an injuction against the defendant company which was registered in London. Normally the two concerns must also carry on the same business but this is not absolutely necessary. In Annabel’s (Berkeley Square) v. G. Schoek (trading as Anabel’s Escort Agency) [1972], the plaintiff was able to obtain an injunction to prevent the defendants from using their name in a way which would damage the goodwill on their night club.

Illegal Partnerships

 

Partnership can be illegal because the business is intrinsically illegal, as in Foster v. Driscoll [1929], where the shipping of alcohol into the USA during prohibition was contrary to the laws of a friendly foreign state; or because the business is carred on illegally.

A partnership is an illegal association if the number of partners exceeds the legal maximum, which is 20 for trading partnerships. Solicitors, accountants and stockbrokers are not subject to any limitation and many professional firms have been exempt by statutory instrument including patent agents, surveyors, auctioneers, valuers, estate agents, land agents, actuaries, consulting enginrees, building designers and loss adjusters.

 

The Relations of Partners to One Another

 

The terms of any partnership agreement will determine the relationship between the partners in priority over any contradictory provision in the Partnership Act 1890. However, where the agreement is incomplete, the Act applies.

The terms of the partnership can be changed expressly or by implication; so that where a firm operates for a number of years in contradiction to the express provisions of the agreement, the agreement will be varied by the practice. In Pilling v. Pilling (1865), a father entered into partnership with his two sons. The articles provided inter alia that the father’s capital, a mill and machinery, should not be brought into the partnership and that he should receive 4 per cent interest per annum on his capital before profits were calculated. During ten years each partner was credited with interest on capital. The court held that this was evidence of a new agreement and the mill and machinery were partnership property to be shared between the partners on dissolution.

 

Partnership Property

 

Partnership property must be held and applied by the partners exclusively for the purposes of the partnership and in accordance with the partnership agreement and includes property original by brought in and property acquired on account of the firm or for the purposes and in the course of the partnership business.

Failing agreement, ownership is established by the Act which provides that there is no presumption that property was brought into the partnership, but all property bought with the firm’s money is deemed partnership property. In Miles v. Clarke [1953], the plaintiff, a freelance photographer, joined the defendant as a partner in an existing  photography business. The agreement merely related to sharing the profits equally and for payment of a salary to the plaintiff. On winding up the business, the plaintiff claimed a share of the assets, including premises leased by the defendant and other equipment which he had installed. The court held that the lease and other equipment belonged to Clarke, and  Miles retained the value of his personal goodwill. The stock-in-trade and other consumable items purchased by the firm constituted the partnership assets.

A writ of execution shall not issue against partnership property except on a judgement against the firm: Peake v. Carter [1916].

 

The rights of Partnership Inter Se

 

(1) All partners share equally in the capital and profits of the business and must contribute equally to the losses.

 

This does not mean where one partner only contributed capital while the other(s) contributed ‘know-how’, that on the dissolution of the partnership, this capital would then be divided among the partners. It does, however, mean that, even where the capital contribution is unequal, the partners will receive an equal share of the profits and be equally liable for any losses, including losses of capital. For example, A, B and C enter a partnership, with A contributing 10000 towards the capital, B 5000 and C ‘know-how’. If on dissolution the surplus assets after payment of debts is only 6000, in which case 9000 capital is lost, A, B and C will each be required to contribute 3000.

Where, however, one of the partners is insolvent and unable to contribute to lost capital, the other partners are not obliged to make up the deficiency, and the loss on capital will be divided between them in the ratio of their last agreed capital. Thus if C is insolvent, the capital loss of 3000 will be borne in the ratio of A and B’s capital contribution 2:1. Therefore A will lose 2000 and B will lose 1000. (A will lose a total of 5000 and B 4000.) This is the rule in Garner v. Murray [1904].

 

(2) The firm must indemnify partners in respect of payments made and personal liabilities incurred – in the ordinary and proper conduct of the business of the firm.

(3) A partner making an advance beyond the amount of capital which he has agreed to subscribe is entitled to interest at the rate of 5 per cent per annum.

(4) A partner is not entitled to interest on the capital subscribed by him.

(5) Every partner may take part in the management of the business.

(6) No partner is entitled to remuneration for acting in the partnership business.

It is normal for remuneration to be paid to partners who are actively involved in the running of the business, before the net profits are calculated. In this way working partners receive more than those who do not devote their whole time to the business.

(7) No person may be introduced as a partner without the consent of all existing partners.

(8) Differences as to ordinary matters of partnership business may be decided on by a majority of the partners, but no change made in the nature of the partnership business without the concent of all existing partners.

(9) the partnership books are to be kept at the place of business, and every partner may have access to and inspect and copy any of them.

 

The expulsion of a partner

 

No majority of the partners can expel any partner unless a power to do so has been conferred by express agreement between the parties.

Where there is a power of expulsion it must be used in good faith, but allows service of notice of expulsion without warning or opportunity to offer an explanation.

 

Duties of Partners

 

Rendering true accounts and full information

 

Partners are in a fiduciary relationship with other partners and contract between them require full disclosure. This duty is owed to other partners or their legal representatives. In Law v. Law [1905], the parties were brothers and partners. The plaintiff sold his share in the partnership but later discovered that certain assets had not been disclosed to him. He succeded in an action for misrepresentation against the defendant.

 

Duty to account for secret profits

 

Every partner must account to the firm for any benefit derived by him without the consent of the other partners from any transaction concerning the partnership property name or business connection. In Bentley v. Craven (1853), the plaintiff was in partnership with the defendants as sugar refiners. Craven, the firm’s buyer, bought sugar cheaply and sold it to the firm at the market price. The court held the firm was entitled to the profit made by Craven.

The section also applies to transactions undertaken after the partnership has been dissolved by the death of a partner and before the affairs thereof have been wound up. In Thompson’s Trustee in Bankruptcy v. Heaton [1974], T and H were partners and as such held the lease of a farm. The firm was dissolved by mutual consent and the farm was occupied by H and later by a limited company controled by H and his wife. On H’s  death, T claimed a half-share of the lease, and in the same year, H’s executors acquired the freehold reversion and later sold the farm. T’s trustee in bankruptcy succesfully sought a declaration that the executors held the reversion as trustees for themselves and T.

In Boardman v. Phipps [1966] the appellants acted as agents for a trust which held shares in a private company. As a result of information gained as trustees, the agents purchased nearly all the other issued shares in the company without the prior consent of the trustees and, as a result of their management skills, the shares increased in value to the benefit of the trust and themselves. In an action brought by one of the beneficiaries of the trust, the House of Lords held that the agents were accountable to the trust for the profit made by them since their opportunity for making a profit arose because of their agency on behalf of the trustees of the trust.

 

Duty not to compete with the firm

 

If a partner, without the consent of the other partners, carries on any business of the same nature as and competing with that of the firm, he must account for and pay over to the firm all profits made by him in that business. The partnership agreement would usually prohibit the carrying on of such a business.

 

The relations of Partners to Persons dealing with Them

 

Powers of partners to bind the firm

 

Every partner is an agent of the firm and his other partners for the purpose of the business of the partnership; and the acts of every partner bind the firm and his partners, unless the partner has in fact no authority for the firm in the particular matter.

 

Liability for Debts and Contractual Obligations

 

Every partner in a firm is jointly liable with the other partners for all debts and obligations of the firm incurred while he is a partner; and after his death his estate is also severally liable for such debts and obligations, so far as they remain unsatisfied.

Joint liability means liability interdependently with the other partners to the joint creditors of the firm but not independent (or several) liability.

It is still normal for persons dealing with a firm to provide that partners shall be jointly and severally liable, however, since this means that, in the event of the bankruptcy of the firm, they would have an equal claim with other separate creditors against the estate of the individual partner, as well as against the joint assets of the firm.

 

Liability in Torts

 

A firm can be liable for the general torts of partners, and for the misapplication of money and property of third persons. It can also be vicariously liable for the torts of its employees under the normal common law rules. Every partner is jointly and severally liable for torts committed while he was a partner.

 

Vicarious liability

 

The firm is only liable where the partner was acting (i) in the ordinary course of the business of the firm, or (ii) with the authority of his copartners and where (iii) loss or injury is caused to any person not being a partner. In Hamlyn v. John Houston & Co. [1903], a partner of the defendant firm bribed a clerk of a rival firm to disclose confidential information causing that rival firm to suffer loss. The Court of Appeal held the defendants liable for the wrongful act of the partner. It was in the ordinary course of business to obtain information about a trade rival, whether the means employed were legitimate or illegitimate.

 

 

1) What is the main distinction between sole trader or partnership, on the one hand, and registered company, on the other hand?

2) Give the definition of a partnership.

3) What persons can be partners and what persons cannot?

4) In what situations are partnerships considered illegal?

5) What are the rights of partners?

6) What are the duties of partners?

7) What are partners liable for?

8) What kind of name cannot be used as a name of a partnership?

 

 

1) Собственник, конечно, может нанимать других людей, но ответственность за успех или неудачу предприятия в руках  индивидуального предпринимателя.

2) Условие относительно прибыли означает, что эта форма не может быть использована для благотворительных или некоммерческих целей.

3) Компания с ограниченной ответственностью может быть партнером, если это разрешено меморандумом ассоциации.

4) Капитал, вложенный несовершеннолетним, может быть использован для оплаты долгов фирмы.

5) Товарищество является нелегальной ассоциацией, если количество партнеров превышает законный максимум, который равен 20 для торговых товариществ.

6) Все партнеры имеют одинаковую долю в капитале и прибылях и должны иметь одинаковую долю в убытках.

7) Таким образом, работающие партнеры получают больше, чем те, кто не посвящает все свое время делу.

 

5. Recite the main points of the text.

 

 

 

 

 

The Registered Company

 

 

incorporated company – обладающая правами юридического лица

unlimited liability company – компания с неограниченной

ответственностью

annual audit – ежегодная проверка отчетности

limited company – компания с ограниченной ответственностью

debentures (loan stock) – долговое обязательство

subsidiary – дочерняя компания

dispense – обходиться без . . .

pursuant to – согласно чему-либо

trial court – суд первой инстанции

indemnity – гарантия возмещения ущерба, убытков

signatory – подписавшаяся сторона

nominee – назначенное лицо

trustee –  попечитель, доверительный собственник

calamitous – бедственный катастрофически

legal entity – самостоятельная хозяйственная единица, обладающая

юридическими правами

passing off – ведение дела под чужим именем

injunction – запрет

free of charge – без оплаты

cancel – аннулировать

promoter – учредитель

remuneration – вознаграждение

to be void – не иметь юридической силы (недействительный)

unratifiable – нератифицируемый

discretionary – представленный на усмотрение

fiduciary – основанный на доверии

bribe – взятка

breach – нарушение (закона, договора, обязательств)

rescind – расторгать

statutory – предусмотренный законом

 

 

C. The Registered Company

 

The Companies Act 1985 (CA 1985) provides that ‘any two or more persons, associated for any lawful purpose may, by subscribing their names to a memorandum of association and otherwise complying with the registration requirements of this Act . . . form an incorporated company, with or without limited liability’.

 

Unlimited liability companies

 

Persons trading as an unlimited liability company enjoy the advantages of corporate status but  their liability for the debts of the company is unlimited. Because of this, there is no obligation to disclose details of its operation, other than to its members. The company also escapes liability for an annual audit of its accounts. These advantages are now available for small private limited companies and the unlimited company form is rarely encountered. It is, however, suitable for business activities where persons are restricted from trading with limited liability and could be used by solicitors and accountants as an alternative to partnership.

 

Limited liability companies

 

The members of such companies have limited liability for the debts and liabilities of the company, although the company is always liable fully for its debts. There are two different forms of limited liability company: the company limited by guarantee and the company limited by shares, of which only the latter is suitable for trading.

 

Companies limited by guarantee.

The members are required to contribute to the company’s assets on liquidation the amount guaranteed when they became members. The form is used for charitable, educational or other worthwhile purposes: for example, The League Against Cruel Sports, The British Ski Federation, London Guildhall University. They can drop the word ‘limited’ from their name although their exact status must be disclosed on letterheads and other documents.

 

Private and public companies limited by shares

 

The liability of the members is limited ‘to the amount, if any, unpaid on the shares respectively held by them’. This is the most usual form of all trading companies and is the only company that can exist as a private or as a public company. The others can only exist as private companies.

Private companies cannot invite the public to subscribe for shares or debentures (loan stock). Thus private companies are restricted to raising their money through institutional sources or from the sale of shares by private treaty or to members of the family of shareholders or employees. Public companies are more closely regulated since there is a greater need to protect the general public.

 

1.  A private company has  the word Limited (Ltd) as the last word of its name whereas the public company has the words Public Limited Company (plc).

2.  The private company can commence trading immediately on incorporation whereas the public company must obtain a certificate to the effect that it has raised the minimum capital (£50 000) which is required of a public company.

3.  The private company may only have one director whereas a public company must have at least two.

4.  Directors of private companies are not subject to age limits unless the company is a subsidiary of a public company.

5.  The company secretary of a private company does not need formal qualifications whereas the company secretary of a public company does.

6.  There are less strict rules governing many aspects of a private company including:

– restrictions on loans to directors,

– regulation of raising and maintenance of capital.

7.  Disclosure requirements in the annual return are less onerous where the private company is classified as either ‘small’ or ‘medium’. There is also exemption for small and medium-sized groups in respect of group accounts.

8.  Private companies can enjoy deregulation which enables them to dispense with formal meetings of their shareholders.

9.  A private company may be exempt from the statutory audit of their accounts.

 

Most companies are initially incorporated as private companies and will then ‘go public’ when they have increased sufficiently in size and need greater freedom to raise capital for expansion. Many public companies seek access to the financial markets. There are two markets for company securities access to which is regulated by the Stock Exchange. Companies seeking to join the London Stock Exchange’s Official List must comply with strict requirements of the London Stock Exchange regarding capital size, length of trading record and the percentage of shares in public hands, which must be at least 25 per cent. There is also Alternative Investment Market (AIM) for which there are no restrictions on capitalisation, length of trading record or minimum percentage of shares in public hands. Companies whose securities have  been traded on AIM can apply to join the Official List after two years. The vast majority of limited liability companies are private.

 

Groups of Companies: Holding and Subsidiary Companies

 

A group is the term used to describe a number of related companies. A holding company is at the head of a group of companies, all of which are subsidiaries of the holding company. The relationship between holding and subsidiaries may be very complex. The classic example is the Maxwell group of companies.

The legal definition of a subsidiary company states that a company is a subsidiary of another company if that other company:

(a)              holds a majority of the voting rights in it, or

(b)             is a member of it and has the right to appoint or remove a majority of its board of directors, or

(c)              is a member of it and controls alone, pursuant to an agreement with other shareholders or members, a majority of the voting rights in it, or if it is a subsidiary of a company which is itself a subsidiary of that other company.

 

A company is a ‘wholly-owned subsidiary’ of another company if it has no members except that other and that other’s wholly-owned subsidiaries.

A holding company must generally prepare group accounts in which the financial  situation of holding and subsidiary company is consolidated as if they were one person. A subsidiary company may not ordinarily be a member of its holding company; and cannot give financial assistance to persons wishing to buy shares in the holding company.

 

Separate legal person

 

A company is separate from the shareholders. This was established in the celebrated case of Salomon v. Salomon & Co. Ltd [1897]. The  plaintiff, a manufacturer of boots and shoes, incorporated the defendant company with a registered capital of £40 000 to take over the business. At that time the law required at least seven people for the formation of a company and this was achieved by Mr. Salomon together with his wife and five children acting as subscribers and taking one share each in the venture. Subsequently Mr Salomon sold the business, which he valued at over £39 000, to the company, receiving in return £20 000 in fully paid shares, £10 000 in cash of which £9000 went in discharging debts and liabilities of the business and £10 000 in debentures secured on the assets of the company. At the time of the collapse of the company, these debentures were held by a bank from whom Mr. Salomon had raised money to keep the company going. In the trial court the judge suggested that the company had a right of indemnity against Mr. Salomon. The other signatories of the memorandum were mere nominees of Mr. Salomon and the company was Mr. Salomon in another form. He used the company as his agent. The view of the company as agent of and trustee for him was also recognised by Court of Appeal. However, the House of Lords decided that ‘The company is at law a different person altogether from the subscribers to the memorandum: and the company is not in law the agent of the subscribers or trustee for them’. Thus Mr. Salomon was not liable to indemnify the company’s creditors. This has been called a ‘calamitous decision’ by O. Kahn-Freund (1944), recognising the validity of ‘one man companies’.

A person can also be controller, managing director and an employee of the company under a separate contract: Lee v. Lee’s Air Farming Ltd [1961]. This principle of the ‘veil of incorporation’ separates the incorporators of a company from the company itself. The veil of incorporation also operates between the companies in a group so that each company is regarded as a separate legal entity. Thus in Lonrho Ltd v. Shell Petroleum Co. Ltd [1980] the plaintiff failed to obtain disclosure of documents which were held by a subsidiary.

Whereas partnership property is jointly owned by all the partners, a company owns its own property and no member of the company has any interest in it. In Tunstall  v. Steigman [1962], Mrs S ran a business in one of a pair of shops of which she was the landlord. The other shop was leased to Mrs T. Mrs S sought to terminate Mrs T’s lease to expand her own business into the second shop. She needed to establish that she needed the premises to carry on a business run by herself. She had earlier transferred her business to a limited company of which she was the controller and the court rejected her application on the grounds that the business was owned and operated by the company and not by her.

 

The Constitution of a Registered Company

 

This is in the Memorandum and the Articles of Association. The Memorandum covers the external aspects of the company whilst the Articles, which are subordinate to the Memorandum, cover internal regulation.

 

The contents of the Memorandum

 

The Memorandum of a private company limited by shares must state:

(i)          the name of the company;

(ii)        whether the registered office of the company is situated in England, Scotland or Wales;

(iii)     the objects of the company;

(iv)     the liability of the members if limited;

(v)        the share capital with which the company is to be registered and its division into shares of a fixed amount.

 

It must be signed by the subscribers who must agree to take the number of shares indicated opposite their respective names. The Memorandum for a public limited liability company contains an extra clause (ii) stating that it is a public limited company.

 

The name clause

 

The last word(s) of the registered name must be either ‘limited’ or ‘public limited company’ depending upon its status.

 

Directors or shadow directors during the 12 months prior to a company going into insolvent liquidation are prohibited from using a name if it is a name by which the liquidating company was known at any time in that 12 month period. The restriction operates for five years from the commencement of the liquidation. The legislation is to stamp out the ‘phoenix company’ where the controllers place a company in liquidation and immediately form another company with the same or a similar name and recommence business, often with the same assets.

 

Change of name

 

A company may change its name voluntarily by special resolution.

The change is operative from date of the issue of a new Certificate of Incorporation.

 

Common law restrictions on choice of name: ‘passing off’

 

If a company name is so similar to the name of an existing company or business, the court may issue an injunction to restrain the carrying on business under that name: Ewing v. Buttercup Margarine Co. Ltd [1917]. But a company having a word in ordinary use as part of its name cannot prevent another company from using the same word: Aerators Ltd v. Tollitt [1902].

 

The registered office clause

 

This establishes the domicile/nationality of the company. The clause only states that the registered office is situated in England, Scotland or Wales and does not give the address which is separately supplied at the time of registration, the place where the registered office is situated cannot be altered.

The registered office is the official address at which legal documents, notices and other communications can be formally presented. Statutory books must be kept there and be available for inspection by members free of charge during business hours for at least two hours a day.

The capital clause

 

The clause states the registered or authorised capital of the company and its division into shares of a fixed nominal value but does not indicate the actual capital raised. It establishes the ceiling beyond which the company must pass a resolution to increase its authorised capital; companies can increase, consolidate, sub-divide or cancel shares or convert them to stock by ordinary resolution.

 

Company Promoters

 

A promoter is ‘one who undertakes to form a company with reference to a given project, and to set it going, and who takes the necessary steps to accomplish that purpose’: Twycross v. Grant (1877). The definition excludes persons acting in a professional capacity in connection with the formation of a company, such as solicitors, accountants and so on.

Promoters are not entitled to remuneration from the company and are personally liable for the expenses of the promotion. Any pre-incorporation contract for remuneration is void and unratifiable after the company is incorporated. The articles usually give directors a discretionary power to pay the promoter’s expenses and the promoter will usually be one of the first directors.

 

Fiduciary duties of promoters

 

Promoters are in a fiduciary relationship with the company and must not accept bribes or make secret profits. They must keep proper accounts and make full disclosure of interests either to an independent board of directors or to members through a prospectus or other means. Provided full disclosure is made, any profit made by promoters selling property to the company can be retained. Where promoters breach their fiduciary duties, the company may claim damages in respect of any loss suffered resulting from the breach. Promoters’ failure to disclose a profit made on the sale of property to the company allows the company to set aside the transaction. In Erlanger v. New Sombrero Phosphate Co. (1878), a syndicate headed by E bought a lease of an island and then formed a company to take up the lease. They made a substantial profit on the sale of the lease to the company, but did not make a full disclosure of this. The company was able to rescind the contract. If the company elects not to rescind or has lost the right to do so, the company may recover the profit from the promoter: Gluckstein v. Barnes [1900].

 

Pre-incorporation contracts

 

Where contracts are made on behalf of the company before a certificate of incorporation is issued, the company cannot be liable on the contract and cannot ratify the contract after incorporation. However, a contract which ‘purports to be made by or on behalf of a company at a time when the company has not been formed has effect, subject to any agreement to the contrary, as one made with the person purporting to act for the company or as agent for it, and he is personally liable on the contract accordingly. The section has been broadly interpreted in Phonogram Ltd v. Lane [1982] to cover any situation where a person acts on behalf of a non-existing company, even where no steps have been taken towards its incorporation.

 

Provisional Contracts by Public Companies

 

A public company originally registered as such is not able to commence business until the Registrar issues a certificate that the company has raised the statutory minimum capital (£50 000). Contracts made earlier are provisional, and the company and any officer in default is liable to a fine. The contract is not void but, if the company fails to comply with its obligations, the directors are liable to compensate the other party for any resulting loss or damage suffered.

 

 

1)      Why is the form of unlimited company rarely used?

2)      What form of limited liability company is suitable for trading?

3)      What is the main difference between a private limited company and a public limited company?

4)      What does the legal definition of a subsidiary company state?

5)      What clauses does the Memorandum of a company limited by shares contain?

6)      What are the legal restrictions on a company name?

7)      What must be kept and presented at the registered office?

8)      What does the capital clause state?

9)      What kind of a person is called a promoter?

10) What are fiduciary duties of promoters?

 

 

1) Эти преимущества теперь доступны для небольших закрытых компаний с ограниченной ответственностью, и форма компании с неограниченной ответственностью встречается редко.

2) Существуют две разные формы компании с ограниченной ответственностью: компания с ответственностью, ограниченной гарантией, и компания с ответственностью, ограниченной акциями.

3) Закрытая компания может иметь одного директора, тогда как открытая компания должна иметь по меньшей мере двоих директоров.

4) Отношения между холдинговой компанией и ее филиалами могут быть очень сложными.

5) Меморандум охватывает внешние стороны компании.

6) Компания может изменить свое название добровольно при помощи специальной резолюции.

7) Учредители не имеют права на вознаграждение от компании и несут личную ответственность за расходы по учреждению.

 

5. Recite the main points of the text.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Registered Company as Itself

 

 

notice – уведомление

qualify(ied) (здесь) – тот, которому следует (определенно) исполнять что-либо

waive – отказаться от

re – указывает на повторение действия

reappoint – назначать снова (повторно)

subsidiary – дочерняя компания

articles (здесь) – устав

statutory – основанный на законе

promotion – учреждение, основание (акционерного общества,

компании)

conviction – осуждение

indictable – подлежащий рассмотрению в суде

offence – правонарушение, преступление

indictment – обвинительный акт

breach – нарушение

return – отчет (здесь)

default – невыполнение обязанностей

fraud – обман, мошенничество

insolvent – несостоятельный

guilty – виновный в

unfit – неподходящий

voidable – тот, который может быть оспорен, аннулирован

preference – преференция, предпочтение

bracket – категория, группа, разряд

receiver – распорядитель имуществом

minute – протокол, вести протокол

authenticate – свидетельствовать подлинность, скреплять печатью

ostensible – чисто внешний (показной)

penalty – штраф. наказание

alleged (здесь) – установленный, явный

persuasion – убеждение

ultra vires (лат.) – вне компетенции

shareholder – владелец акции (держатель акций)

abuse – нападки, злоупотребления

derivative – произвольный

infringement – нарушение (прав, закона и т.п.)

wrongdoer –правонарушитель

imdemnify – гарантировать возмещение ущерба

prudent – осторожный

prejudice – предрассудок

venture the capital – вложить капитал в рискованное предприятие

on the footing that – на том основании, что . . .

fiduciary – доверенное лицо, попечитель, опекун

dilute – уменьшить (капитал, доход)

discretionary – дискреционный, имеющий право решать по

собственному усмотрению

just – справедливый

perpetuate – восстановить на все время, дать неограниченный срок

misfeasance – злоупотребление властью, ненадлежащие действия

requisition – обращение с формальным письменным требованием

 

 

The Directors

 

A director includes ‘any person occupying the position of a director, by whatever name called’. A ‘shadow director’ is a person ‘in accordance with whose directions or instructions the directors of the company are accustomed to act’ – but excludes persons giving advice in a professional capacity and parent companies in respect of their subsidiaries. A company can be a director.

 

The appointment of directors

 

Those named in the statement of first directors and secretary are deemed appointed. Subsequent appointments are governed by the articles, which usually provide for appointment in general meeting by ordinary resolution, the board generally has a power to fill casual vacancies.

No person other than a director retiring by rotation shall be appointed a director at an AGM unless: (i) he is recommended by the directors; or (ii) not less than 14 nor more than 35 days before the date appointed for the meeting, notice by a member qualified to vote has been given of the intention to propose that person. Directors of a public company must be voted on individually unless the meeting has unanimously agreed to waive the rule, otherwise the appointment is invalid.

 

The retirement of directors

 

At the first AGM all directors retire and at every subsequent AGM one-third or the number nearest must retire being those who have been longest in office since appointment or reappointment. If the vacancy is not filled at the AGM, the director shall be deemed reappointed unless it is resolved not to fill the vacancy or unless a resolution for reappointment has been put and lost.

 

Age restrictions on directors

 

Directors of a private company which is not a subsidiary of a public company are not subject to an age limit but for public companies, a person cannot be appointed if 70 or over.

 

Disqualification of directors

 

Directors can be disqualified from acting as such either by statute or under the terms of the articles of association.

 

Statutory disqualification.

Under the Company Directors Disqualification Act 1986 the court may disqualify persons. Disqualified persons cannot, without leave, be a director, liquidator or administrator of a company or be a receiver or manager of a company’s property or in any way, directly or indirectly, be concerned or take part in promotion, formation or management for a specified period.

Conviction of an indictable offence.   A director may be disqualified when convicted on an indictment or summarily, of an offence in connection with the promotion, formation, management or liquidation of a company, or receiveship or management of the property of the company. The maximum period of disqualification is five years (summary) or 15 years (on indictment).

 

Persistent breaches of companies legislation.   Directors can be disqualified for breaches relating to any return, account or other document to be filed with, delivered or sent, or notice of any matter to be given, to the Registrar of Companies. Three or more defaults in five years constitutes a persistent breach. The maximum period of disqualification is five years.

 

Fraud and so on in winding-up.   The court may make a disqualification order if a person:

 

(a) has been guilty of fraudulent trading, or

(b) has been guilty of fraud in relation to the company or breach of his duty (this includes shadow directors). The maximum period of disqualification is15 years.

 

Duty to disqualify unfit directors of insolvent companies

 

The court must impose a minimum disqualification of two years, if a person is or has been director of a company which has become insolvent and where his conduct as a director makes him unfit. Unifitness is defined as responsibility for the company becoming insolvent or for transactions which are voidable preferences. Other factors are taken into consideration by the court such as continuing to operate the company with a number of debts outstanding, general breaches of standard of care as a director for which an objective test is applied.

The liquidator, administrator or administrative receiver have a statutory duty to report to the Secretary of State if aware of evidence of a director’s unfitness. For this purpose, ‘director’ includes shadow directors. The maximum period of disqualification is 15 years. In Re Sevenoaks Stationers Ltd [1990] the Court of Appeal divided a 15 year period into three: ten or more years reserved for particularly serious cases, two to five years where the case is relatively not very serious, six to ten years for serious cases not meriting the top bracket.

 

The Company Secretary

 

Every company must have a company secretary. The first secretary is the person named in the statement of first directors and secretary filed with the Registrar before incorporation; subsequent appointments are made by the directors. The secretary may be an individual or a corporation but a corporation cannot be the secretary if its sole director is also the sole director of the company. A sole director cannot also be secretary.

The secretary of a private company is not required to have any professional qualifications but, for a public company, the directors must secure that the secretary either was a secretary of a public company before or who by virtue of his professional qualifications (as a chartered secretary, an accountant or a lawyer, or standing) appears to be capable of discharging the functions of a secretary.

The secretary is the chief administrative officer of the company and his duties include attending and minuting board and general meetings, authenticating certain documents, recording transfers of shares, keeping the company's books and registers and making necessary returns. The decision of Panorama Developments (Guildford) Ltd v. Fidelis Furnish Fabrics Ltd [1971] recognised that the secretary had ostensible authority to enter into contracts connected with the administrative side of the company's affairs 'such as employing staff, ordering cars and so forth’. Authority does not extend to commercial or trading contracts, and the company would not be liable for money borrowed in its name.

The secretary owes fiduciary duties to the company similar to those of a director and is liable to specific criminal penalties if he defaults in his statutory duties.

 

The Enforcement of Directors’ Duties

 

The rule in Foss v. Harbottle provides for majority rule. If there is a wrong against a company or an alleged irregularity in its internal management which is capable of confirmation by a simple majority of the members, the court will not interfere at the suit of a minority which must accept the decision of the majority. The minority can attempt to bring about change in the majority by the normal democratic process of persuasion and, if a minority shareholder does not agree with the majority, he can always sell his shares.

 

Common law exceptions to the rule in Foss v. Harbottle

 

Illegal acts

 

The majority have never been able to affirm an act which is ultra vires the company. The exception relates to other illegal acts such as financial assistance.

Decisions requiring qualified majority.

A majority cannot confirm a resolution by simple majority where the constitution of the company requires a qualified majority: in Edwards v. Halliwell [1950], a trade union's rules provided that members' subscriptions could only be increased by a special resolution of the delegates. The court allowed a minority action where the union purported to increase subscriptions by an ordinary resolution.

 

Personal rights of a shareholder

 

The minority shareholder can always enforce his personal rights as a shareholder: Fender v. Lushington (1877).

 

Where there is a fraud on the minority.

The concept of fraud on the minority involves an abuse of its power by the majority. This abuse can be directed at the minority shareholders where there is an attempt by the majority to compulsorily acquire the shares of the minority; alternatively the abuse can be directed against the company itself, as where the majority attempts to expropriate a corporate opportunity for itself. In both cases the minority can sue (i) to block an abusive use of majority power, Clemens v. Clemens Bros Ltd [1976], or (ii) to recover the company's expropriated property: Cook v. Deeks [1916].

The form of the minority action.

Depending on the nature of the exception, the minority action may take a different form. The following actions exist: a personal action; a representative action and a derivative action. The personal action is for infringements of the shareholder's personal rights as a member. The representative action is where there is an infringement of the rights of a minority of the shareholders including the member bringing the action; the action will be in the form of a direct representative action (or class action), where the shareholder will initiate the action for the benefit of the affected class. The derivative action is in respect of wrongs against the company itself where the shareholder acts as a champion for the company as a whole. In order to bring a derivative action the minority shareholder must establish as a preliminary issue the following points: (i) that there has been a wrong in the nature of a 'fraud' committed against the company; and (ii) that the wrongdoers are in control of the company.

 

Fraud against the company.

The term ‘fraud’ includes abuses of power both in the capacity of director and shareholder.

 

The wrongdoers are in control.

'Control' means actual voting control of the company. It is not sufficient to show de facto control merely through combined dominance of shareholding and management position, but the court does take into consideration control through nominees.

The court may order the company to indemnify the minority shareholder where it was reasonable and prudent for him to bring the action and if it was brought in good faith.

 

Statutory exceptions to Foss v. Harbottle

 

The most important statutory exception is the right to petition against unfair prejudice.

 

Petition against unfair prejudice.

Any member of a company may apply to the court by petition on the ground that the affairs of the company are being or have been conducted in a manner which is unfairly prejudicial to the interests of its members generally or some part of its members.

The court can make any order on the petition.

It is important to identify what is meant by unfair prejudicial conduct and the nature of the interests of the members capable of unfair prejudice.

The nature of the members' interests The first reported decision on [1983] limited the right to petition to cases where the unfair prejudice affected a person in his capacity as a shareholder. In Re a Company [1986], Hoffman j said: 'In the case of a small private company in which two or three members have ventured their capital... on the footing that each will earn his living by working for the company as a director . . . [the] member's interests . . . may include a legitimate expectation that he will continue to be employed as a director and his dismissal from that office and exclusion from the management of the company may therefore be unfairly prejudicial to his interests as a member.' Relief has been obtained where the petitioner complained of removal from office amongst other things.

Successful actions have been brought in respect of breaches of fiduciary duties including conflict of interests, excessive remuneration and a rights issue regarded as an attempt to dilute the interest of a shareholder.

 

Just and equitable winding up

 

The court has a wide discretionary power to wind up a company on a petition presented by a member. The categories of complaint are unclear and Lord Wilberforce in the leading case of Ebrahimi v. Westbourne Galleries Ltd [1973] stressed that in his view the general words should not be reduced to the sum of particular instances.

In this case, the plaintiff had been in a partnership with N and they later formed a company to take over the business and became the only directors and shareholders, each holding 500 shares. When N's son joined the business, E and N transferred 100 shares to him and he became a director. Ebrahimi was removed from the board and petitioned for the just and equitable winding up. The House of Lords held that Ebrahimi and N had formed the company to perpetuate their previous partnership, and that E's exclusion was unjust.

Lord Wilberforce suggested that the remedy applied to a small private company where one or more of the following factors was present: (i) it should be an association formed or continued on the basis of a personal relationship, involving mutual confidence; (ii) there should be an agreement that all or some of the shareholders shall participate in the management of the business; and (iii) there should be restrictions on the transfer of the members' shares.

The equitable principles of Ebrahimi have been applied outside the framework of a winding up petition. Thus in Clemens v. Clemens Bros. Ltd [1976], the court set aside an issue of additional shares aimed at diluting the plaintiff’s holding.

 

Department of Trade investigations.

The Department of Trade and Industry (DTI) may appoint inspectors on the application of 200 members or members holding not less than one-tenth of the issued shares; or where there are circumstances suggesting fraud, illegality, unfair prejudice to members, misfeasance or other misconduct of the company's officers or the wrongful withholding of information from members. This is more useful since there is no minimum of members required. The Secretary of State must also appoint inspectors where the court so orders.

Inspectors may question directors and other officers and requisition documents, whereas it is frequently difficult for a minority shareholder to establish his allegations against the controllers. Where the inspection produces sufficient evidence, the Secretary of State can proceed to petition for the winding up of the company or petition against unfair prejudice in the same way as a member. The report furnished by the inspectorate may also lead to the disqualification of directors. Investigations tend to be used for corporate insolvency investigations and minority shareholders are unlikely to obtain relief.

 

 

1.  What are the company secretary’s duties?

2.  State the majority rule.

3.  How can a director be appointed?

4.  On what grounds can a director be disqualified?

5.  Enumerate the forms of the minority action.

6.  What does petition against unfair prejudice state?

7.  How is nature of the member’s interests understood?

8.  In what cases can a company be wound up?

9.  What are the functions of the Department of Trade investigations?

 

 

1) “Теневой директор” – это человек, в соответствии с указаниями или инструкциями которого обычно действуют директора компании.

2) Директора закрытой компании, которая не является филиалом открытой компании, не подлежат возрастным ограничениям.

3) От секретаря закрытой компании не требуется какая-либо профессиональная квалификация.

4) Полномочия секретаря не распространяются на коммерческие контракты.

5) Понятие обмана меньшинства включает в себя злоупотребление властью со стороны большинства.

6) Суд имеет широкие дискреционные полномочия ликвидировать компанию на основании заявления, поданного ее членом.

 

5. Recite the main points of the text.

 

 

 

assets – активы, фонды, капитал, имущество

entity – независимая хозяйственная единица

winding up – ликвидация

covenant – договор, обязательство

inter se (лат.) – между собой

par value – номинальная стоимость

transferor – лицо, переуступающее свое право

transferee – лицо, которому передается право

prima facia evidence (лат.) – доказательство, достаточное при

 отсутствии возражений

warrant – документ, подтверждающий что-либо, доверенность,

 удостоверение, свидетельство

redeem – рассчитаться по долгам, погасить, выкупить, изъять из

 обращения

redeemable – подлежащая погашению

preference share – привилегированная акция

deferred share – отсроченная акция

cumulative – накапливаемый

non-cumulative – некумулятивный, ненакапливаемый

return – доход или прибыль с вложенных денег

defer – откладывать, отсрочивать

memorandum – меморандум, договор об учреждении компании,

 акционерного общества

stipulate – оговаривать, ставить условие

allotment – часть, доля

transfer – передача в собственность, уступка права

transmission – передача по наследству

estoppel – лишение права, возражение, лишение стороны права

 ссылаться на какие-либо факты или отрицать какие-либо

 факты

lodging – депонирование, отдача на хранение

preemption – преимущественное право

 

 

Shares and Shareholders

 

Shareholders are owners of the company but do not own the company’s assets which belong to the company as a separate and independent legal entity. Being a shareholder gives the right to receive a proportion of the profits of the company by way of a dividend while the company operates and a proportion of its assets in the winding up, and all other benefits of membership. A share has been defined as ‘the interest of the shareholder in the company measured by a sum of money, consisting of a series of mutual covenants entered into by all the shareholders inter se and made up of various rights contained in the contract in the articles’. A share is a unit of account for measuring a members’s interests in the company. Each share is required to have a sum of money assigned to it as its normal – or par – value.

 

The rights and liabilities of the shareholder

 

A share is a bundle of several rights and liabilities. The principal duty is to pay the nominal value of the share and any premium. The principal rights are (i) the right to a dividend if, while the company is a going concern, a dividend is duly declared; (ii) the right to vote at the meetings of members; and (iii) the right, in the winding up of the company, after the payment of the debts, to receive a proportionate part of the capital or otherwise to participate in the distribution of the assets of the company.

 

Registered and bearer shares

 

Shares can be registered or bearer, although it is more normal for them to be registered and a company must have a power in its articles to enable it to issue bearer shares.

In the case of the registered share, title depends on the entry of the holder’s name in the Register of Members and transfer of title involves the substitution of the name of the transferee for that of the transferor. The share certificate is prima facie evidence of title. In the case of bearer shares, the holder is issued with a share warrant which may include coupons for the payment of future dividends. This warrant is a document of title for the shares which are transferable by mere delivery of the warrant. The warrant is therefore a negotiable instrument and a transferee for value, obtains a good title as holder in due course. A person holding bearer shares is not automatically a member of the company. This will depend upon the articles.

 

Mortgages of shares

 

Shares can be mortgaged as a security for a loan.

 

Classes of share

 

Prima facie, all shares enjoy equal rights and where a company divides its shares into different classes, the presumption of equality must be specifically displaced. All shares may now be issued as redeemable shares. The most usually encountered classes are ordinary shares, preference shares and deferred shares.

 

Ordinary shares.

Unless otherwise indicated, all shares issued by a company are presumed to be ordinary shares. The rights of an ordinary shareholder implied by law are (i) to be paid on unlimited, non-cumulative dividend where the company makes a profit and a dividend is declared; payment will be after payment of any preference dividends; (ii) to receive notice of and attend and vote at general meetings of the company; and (iii) to the return of capital and share in any surplus capital in the event of winding up.

 

Preference shares.

Preference shareholders always have priority over ordinary shareholders to payment of a fixed dividend. In addition there may be a preferential right to a return of capital on winding up. There is a presumption that the right to a dividend is cumulative.

A preferential right to a fixed dividend means there is no right to participate in further dividend distributions to ordinary shareholders. Similarly, the right to a preferential return of capital on winding up excludes a claim against surplus assets of the company on winding up: Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Ltd [1949]. In this case, the House of Lords stated: ‘Whether a man lends money to a company at 7% or subscribes for its shares carrying a cumulative preferential dividend at that rate, I do not think that he can complain of unfairness if the company . . . proposes to pay him off.’

 

Deferred shares.

Also known as management or ‘founders’ shares, they usually carry multiple voting rights with the right to an unlimited dividend deferred until a fixed minimum percentage is paid to the ordinary shareholders. Capital repayment is usually deferred, in which case the deferred shareholders have exclusive rights to surplus assets. They are rarely issued and most have been converted into ordinary shares.

 

Variation of shareholders’ rights

 

The power to vary the shareholders’ rights depends on whether there is one class or two or more classes of shares. In the first case the shareholders have membership rights and in the second they have class rights.

 

Variation of class rights.

Where the rights are contained in the articles or the terms of issue, there is a procedure for variation either with the written consent of three-quarters of the shareholders of that class, or the sanction of an extraordinary resolution passed at a separate class meeting.

If the memorandum prohibits variation, then the rights are unalterable except by way of a reconstruction under s.425. If there is no procedure stipulated in either the memorandum or the articles, variation of rights requires the unanimous consent of all the members of the company.

 

Becoming a Member of a Company

 

A person can become a member of the company by (i) allotment, (ii) transfer, (iii) transmission, (iv) subscribing to the memorandum and (v) estoppel (holding out). Except in the case of subscription, there are two conditions of membership: agreement to become a member, and entry on the register of members. Transmission is where the shares are passed to another on the death of a former shareholder and estoppel arises where a person allows his name to appear in the register of members without requesting a correction of the register.

 

Ceasing to be Member

 

A person ceases to be a member of the company by: (i) transfer, (ii) forfeiture or surrender, (iii) sale by the company under its power of lien, (iv) transmission and (v) redemption of redeemable shares.

 

Transfer of Shares

 

Unless the company’s articles provide otherwise, every shareholder has a right to transfer his shares freely. A share certificate is prima facie evidence of title.

The company has a duty to have ready for delivery a certificate of all shares within two months of allotment or of the date of the lodging of a transfer.

 

Restrictions on transfers

 

The articles of private companies may allow the directors to refuse to register transfers of shares.

Public companies can have restrictions on free transferability except if  their shares are dealt with on the Stock Exhange or the Alternative Investment Market (AIM). The most frequent restriction is the preemption clause which provides that shares cannot be transferred to a non-member as long as there is an existing member prepared to purchase them at a fair price.

 

The Register of Members

 

Every company must keep a register of members. The register must be kept at the registered office or at the place where it is made up; the Registrar of Companies must be informed where it is kept. The register must be available for inspection and members may obtain a copy of the register or part of it on the payment of the appropriate charge.

 

 

1.  What is a share?

2.  What the principal right of a shareholder?

3.  What is the difference between registered and bearer shares?

4.  What are the main classes of shares?

5.  How can a person become a member of the company?

6.  In what cases does a person cease to be a member of the company?

7.  How can transfer of shares be restricted?

8.  Where must the register of members be kept?

 

 

1) Акционеры – владельцы компании, но они владеют активами компании, которые принадлежат компании, как отдельной независимой правовой единице.

2) Акция – это единица измерения интересов члена компании.

3) Акции могут быть заложены в качестве обеспечения для получения ссуды.

4) Прежде всего, все акции обладают одинаковыми правами.

5) Привилегированные акционеры всегда имеют приоритет перед обычными акционерами на выплату фиксированного дивиденда.

6) Существуют два условия членства: согласие стать членом и занесение в список членов.

7) Устав закрытых акционерных компаний может позволять директорам отказаться регистрировать передачу акций.

8) Каждая компания должна вести список членов.

 

 

5. Recite the main point of the text.

 

 

 

 

 

 

 

 

merger – поглощение, слияние компаний

rogue – жулик, мошенник

contravention – нарушение (закона, права), противоречие (закону,

праву)

assurance – заверение, гарантия

accessory – соучастник (преступления)

contempt – неуважение, оскорбление (органа власти)

punish – наказывать

punishable – наказуемый

imprisonment – тюремное заключение

fine – штраф

void – недействительный

injure – причинять вред

refrain – воздерживаться от чего-либо

injury – вред, ущерб

 

 

Aims of Competition Law

 

Competition law regulates the market power of companies and individuals, restraining them from entering agreements restricting competition by fixing the price of goods or services and dividing the available market between them. It also regulates mergers and prevents dominant companies from abusing their position through excessive pricing or discrimination against customers. This interference with the free market is in the interests of the consumer.

 

The Fair Trading Act 1973

 

This has been called the most comprehensive measure ever passed to protect the economic interests of the consumer. The Act establishes the position of the Director General of Fair Trading (DG), the Consumer Protection Advisory Committee (CPAC) and reconstitutes the Monopolies and Mergers Commission (MMC).

Under the Fair Trading Act the DG has the following main duties:

(i)          regulating monopolies, mergers and restrictive and uncompetitive practices;

(ii)        supervising trading practices;

(iii)     reporting bad trading practices to the DTI and making recommendations;

(iv)     taking action against traders who are persistently unfair to the consumer;

(v)        encouraging trade associations to produce voluntary codes of practice;

(vi)     publishing information and advice to consumers.

 

Control of Rogue Dealers

 

Under Part III of the Act the DG has a “bloodhound” as well as a “watchdog” function with regard to persons carrying on a business who persist in a course of conduct which (a) is detrimental to the interests of UK consumers, whether economic or relating to health, safety or otherwise, and (b) is to be regarded on the criteria stated as unfair to consumer. These criteria involve either contraventions of duties, prohibitions or restrictions imposed by the criminal law and also breaches of contract, or other breaches of duty enforceable by civil proceedings.

The DG’s first line of attack is to obtain a satisfactory written assurance that the trader will refrain from continuing the course of conduct and from carrying on any similar course of conduct in the course of that business. Should the DG fail to achieve the written assurance or if such an assurance is broken, he may either bring proceedings in the Restrictive Practices court or, in smaller cases, in the county court for the district in which the practice is carried on. The power of the courts specified include (a) the obtaining of an undertaking to refrain from the specified course of conduct or (b) the making of an order on similar terms. The court also has power to obtain undertakings from or make orders against accessories, directors or officers of companies and other members of a group of interconnected bodies corporate. Legal aid is generally available to defend these actions and appeals lie to the Court of Appeal. Breach of an undertaking given or order made constitutes contempt of court punishable by imprisonment or a fine.

 

Monopolies

 

The whole area of the law is now within the Fair Trading Act 1973 under control of the DG and the MMC. This consists of not less than ten and not more than 27 members appointed by the Secretary of State. Its principal functions are to investigate and report on any question referred to it under the Act.

Mergers

 

The power to order that a merger shall not go ahead lies with the Secretary of State; the duty to keep situations under review where there might be a merger situation calling for investigation is on the DG. Many companies seek the confidential guidance of the OFT as to whether the DG might advise the Secretary of State to make a merger reference to the Commission. It is the duty of the DG to make a recommendation to the Secretary of State, who will in turn make any reference to the Commission – the DG may not refer merger situations personally. The Secretary of State may make a reference when it appears to him that two or more enterprises (one at least in the UK) have ceased to be distinct enterprises. He must also be of the view that, as a result, either a monopoly situation is or would be created (that is, one-quarter of the market would be supplied) or the value of the assets taken over exceeds £5m. If the merger has already taken place, it must have been within the six months prior to the reference.

The procedure is that the DG as Chair of the Interdepartmental Mergers Panel is normally able to complete his preliminary investigations and advise the Secretary of State within four weeks. If the Secretary of State decides to make a reference, the Commission must report within six months, with a possible extension of a further three months. It normally reports within three to four months. The Commission must then both establish that a merger situation exists and that it operates or may be expected to operate against the public interest. The Secretary of State has power to make orders as a result but more usually the DG is requested to obtain undertakings.

As regards newspaper mergers, the transfer of a newspaper or its assets to a newspaper proprietor whose own newspapers have an average daily circulation of 500 000 (including that of the newspaper concerned in the transfer) is unlawful and void unless written consent is given by the Secretary of State.

 

The Consumer Protection Act 1987

 

Under the Act a person who is injured by a defective product has a right of action against the manufacturer irrespective of whether or not the manufacturer was negligent. The basis of the claim is s.2, which requires the plaintiff to establish four things:

(a)    that the product contained a defect,

(b)   that the plaintiff suffered damage,

(c)    that the damage was caused by the defect,

(d)   that the defendant was producer, own-brander or importer into the EC of the product.

 

Defective product

 

A product is defective ‘if the safety of the product is not such as persons generally are entitled to expect’. Safety includes risks of death or personal injury but also extends to cover risks of damage to property. In determining whether a product is defective all the circumstances must be taken into account including:

(a)    the manner in which, and purposes for which, the product has been marketed, its get-up, the use of any mark in relation to the product and any instructions for doing or refraining from doing anything with the product;

(b)   what might reasonably be expected to be done with or in relation to the product; and

(c)    the time when the product was supplied by its producer to another; and nothing in this section shall require a defect to be inferred from the fact alone that the safety of a product which is supplied after that time is greater than the safety of the product in question.

 

Products are widely defined and include goods, electricity, gas and vapours. There are three exceptions: land, primary agricultural products and unprocessed game. The definition of land includes “things comprised in land by virtue of being attached to it”. This includes buildings and excludes builders from liability under the Act for any defects. Agricultural products are excluded from liability unless they have undergone an “industrial process” giving them “essential characteristics”. This presumably includes any processing of the product such as freezing, canning or otherwise transforming the product – meat into sausages, potatoes into frozen chips – when the processor is the producer for liability purposes, not the farmer.

 

 

1.  How does Competition law protect the interests of the consumer?

2.  What are the main duties of the Director General of Fair Trading (DG)?

3.  How does DG act to control rogue dealers?

4.  How many members does the MMC consist of?

5.  In what situations may the secretary of State make a merger reference to the MMC?

6.  What things must be established by the plaintiff in order to make a claim under the Consumer Protection Act 1987?

7.  In what case is a product considered defective?

8.  What products are excluded from liability under the Consumer Protection Act?

 

 

1) Это вмешательство в свободный рынок – в интересах потребителя.

2) В соответствии с актом о Честной торговле, Генеральный Директор выполняет следующие обязанности.

3) Нарушение данного постановления или приказа является неуважением к суду.

4) Процедура состоит в том, что Генеральный Директор, как председатель Межведомственного комитета по слияниям, обычно может провести предварительное расследование и проинформировать Государственного Секретаря в течение четырех недель.

5) Безопасность включает риск смерти или телесного повреждения, но распространяется также на риск материального ущерба.

 

 

5. Recite the main points of the text.

 

 

 

 

 

 

 

 

 

 

estate – имущество, собственность

insolvent – несостоятельный (должник)

trustee – попечитель, доверительный собственник

undischarged – не освобожденный от долгов несостоятельный

должник

discharge – 1) исполнять, уплатить; 2) отменять

assets – средства, фонды, имущество

penalty – штраф

injury – вред, ущерб

natural person – физическое лицо

unsound – недееспособный, психически неполноценный

lodge – подавать прошение, жалобу и т.п.

supervisor – инспектор, контролер

receiver – распорядитель имуществом

pend (здесь) – ожидать

pending – в ожидании

trustee – лицо, распоряжающееся имуществом на началах

доверительной собственности

to commit offence – совершать преступление

 

 

Bankruptcy

 

In a bankruptcy the estate of an insolvent person passes into the control of a trustee who uses it to pay off that person’s debts. The debtor remains an undischarged bankrupt until the order is discharged. The aim is to ensure a fair distribution of the bankrupts’ assets and to prevent unfair preference of certain creditors. It also frees honest and unfortunate debtors from financial problems so that they can make a fresh start with past debts wiped out. An inquiry into the reasons for the bankruptcy may result in criminal penalties.

 

Persons who can be made bankrupt

 

Any natural person with contractual capacity is capable of being made bankrupt, including aliens who fulfil the general residence or business activity qualification. The limited contractual capacity of minors limits the possibility of their being made bankrupt. Persons of unsound mind can be made bankrupt subject to the control of the court of protection. The estates of deceased persons can be administered in bankruptcy.

 

The bankruptcy petition

 

The proceedings begin with a petition for a bankruptcy order lodged in the bankruptcy court (for debtors within the London area) or at the county court of the area where the debtor resides or carries on business if the court has bankruptcy jurisdiction. The petition may be presented by:

(i)          a creditor or two or more creditors jointly;

(ii)        the supervisor or any other person bound by a voluntary scheme or composition made as part of a voluntary arrangement under the Act;

(iii)     the official petitioner where a criminal bankruptcy order has been made against the debtor;

(iv)      the debtor.

 

The consequences of the bankruptcy order

 

Bankruptcy begins with the making of the bankruptcy order which is published in the London Gazette and a local newspaper; as a result of which:

(i)          the debtor becomes an undisharged bankrupt;

(ii)        subject to exceptions, the official receiver becomes the receiver and manager of the bankrupt’s estate pending the appointment of a trustee in bankruptcy;

(iii)     unsecured creditors lose their rights of action against the debtor and can only prove in the bankruptcy for the amounts owing to them;

(iv)      the bankrupt commits an offence if he obtains credit of £250 or more without disclosing his status or by engaging, directly or indirectly, in any business under a name different to the one under which he was made bankrupt without disclosing that name to all persons with whom business is transacted.

(v)        it is a criminal offence for the bankrupt to act as a director or take part in the management of a registered company without the court’s consent.

 

 

 

1.  How does the trustee use the estate of an insolvent person?

2.  What kind of a person can be made bankrupt?

3.  By whom may the bankruptcy petition be presented?

4.  What are the consequences of the bankruptcy order?

5.  Where is the bankruptcy order published?

 

 

 

1)  При банкротстве имущество несостоятельного должника переходит под контроль попечителя.

2)  Цель – обеспечить справедливое распределение имущества банкрота и предотвратить несправедливые привилегии некоторых кредиторов.

3)  В случае банкротства можно управлять имуществом умершего должника.

4)  Банкрот совершает преступление, если получает кредит в 250 фунтов или более, не сообщая о своем положении.

 

 

 

A

 

absentee                       отсутствующий

abuse                           злоупотребление

abuse of  power           превышение власти

аbusive                        оскорбительный

to accept                      1)принимать

                                    2)акцептовать

ассident                       несчастный случай

to accomplish              завершить, выполнить

ассount                        1)отчет

                                    2)счет

bank account               банковский счет

joint account                совместный счет

to account                    объяснить

аccountant                   1)бухгалтер

                                    2)ответчик

accrual                         накопление

to accrue                      накапливаться

to acquire                    приобрести

Act of God                  непреодолимая сила

Act of State                 акт государственной       власти

aсtion                          cудебное дело, процесс,

                                    судопроизводство

civil action                   гражданский иск

class action                  групповой иск

derivating action          производный иск

legal action                  судебный иск

personal action            личный иск

representative action   представительский иск

actionable                    дающий право на иск

actuary                        актуарий (специалист по страховым

                                    расчетам)

adjuster                       оценщик

administration             управление 

admiralty`                    суд по морским делам

adoption                      усыновление

advance                       1) аванс   2) заем

adventure                    смелое предприятие

to affect                       влиять

to affirm                      1) утверждать  2) скреплять печатью

agency                         1) агентство  2) представительство

agency of necessity      представительство по необходимости

agent                            посредник

commercial agent         комиссионер

del credere agent          комиссионер, берущий на себя

                                    поручительство за покупателя

general agent               генеральный агент

patent agent                 патентный поверенный

real-estate agent           агент по операциям с недвижимостью

special agent                агент, имеющий специальные

                                    (ограниченные) полномочия

universal agent            агент со всесторонними полномочиями

agreement                    соглашение

express agreement       положительно выраженное соглашение

aid                               помощь

alien                             иностранец

enemy alien                 враждебный иностранец (гражданин

                                    неприятельского государства)

allegation                     заявление

to allege                       заявлять; обвинять

alleged                         заявленный

allegiance                     гражданство, государственная принадлежность

to allocate                    размещать, распределять

allocatioon                   распределение

allowance                    денежное пособие

to amend                     вносить поправку

amendment                  поправка

to amortize                  погашать долг в рассрочку

ancillary                      дополнительный, вспомогательный

annuity                        ежегодная выплата, рента

to anticipate                предвосхищать

appeal                         апелляция, жалоба

Court of Appeal          апелляционный суд

appellant                     истец по апелляции

application                  заявление, ходатайство

to apply                       1)применять  2)относить платеж к

                                    определенному долгу

to appoint                   назначать

appointment                назначение

argument                     1) аргументация  2) дискуссия; прения сторон

to arise                        возникать

arrears                         просрочка, задолженность

arrangement                соглашение, договоренность

article                          статья

articles                         договор

assault                         1) нападение  2) оскорбление, угроза

asset                            1) имущество  2) активы, средства   

to assign                      1) назначать; предписывать 

                                    2) передавать, переуступать

assignable                    могущий быть переданным

assignee                       правопреемник

assignment                  1) назначение, распределение

                                    2) передача права, переуступка; перевод

                                    долга

assignor                       лицо, совершающее передачу

to associate                  объединяться

to attach                      распространяться  (на), относиться (к);

                                    прилагаться

attempt                        попытка

attorney                       поверенный

audit                            ревизия отчетности

authority                     1) власть; полномочие  2) орган власти

apparent authority      разумно предполагаемые полномочия

absolute authority       неограниченная власть

local authority             местная власть

public authority           государственная власть

statutory authority      власть, представленная законом

to authorize                 1) уполномочить 2) санкционировать

                                    3) узаконить

authorized                   1) уполномоченный 2) разрешенный

                                    3) узаконенный

to avoid                       избегать

 

B

 

bailment                      хранение; залог

bearer                          предъявитель

benefit                         выгода, польза

beneficiary                   бенефициарий (лицо, извлекающее

                                    выгоду)

on behalf (of)               от имени

bill                               счет

bill of exchange           переводной вексель

bill of lading                коносамент, транспортная накладная

treasury bill                 казначейский вексель

to bind                         обязывать, связать обязательством

binding                        обязательный

legally binding             юридически обязательный

body                            организация

to book                        1) заказывать  2) фрахтовать

to borrow                    занимать

borrower                     заемщик

borrowing                    заем

brand                           сорт

brand name                 фирменное название (товара)

breach                          нарушение

breach of contract        нарушение договора

breach of duty             неисполнение обязанности

breach of  trust            злоупотребление доверием

to breach                     нарушать

break                           нарушение

to break                       нарушать (закон)

bribe                            взятка

to bring                        возбуждать (дело)

  to bring an action      предъявлять иск

business name             наименование фирмы

by-law                         1) устав  2) подзаконный акт

by virtue (of)               в силу чего-либо

 

C

 

сall                               требование

on call                          по требованию

to cancel                      отменять, аннулировать

cancellation                 аннулирование, отмена

canvassing                   поиск заказов       

capacity                       1)  дееспособность  2) должность

in the capacity (of)      в качестве

contractual capacity    договорная право- и дееспособность

carrier                          перевозчик

to carry on                   вести

to carry through          довести до конца

cause                           1) мотив, причина  2) процесс, тяжба

matrimonial cause       дело о разводе

to cause                       причинять

caution                        1) предупреждение  2) поручительство

certificate                     свидетельство, справка

to certify                      подтверждать

cesser                           прекращение

charge                          1) обязательство  2) цена, сбор, налог

free of charge               бесплатно

land charge                  налог с недвижимости

to take charge              принимать на себя ответственность

to charge                      1) возлагать расход; вменять в

                                    обязанность  2)обвинять

charitable                     благотворительный

charter                         грамота, хартия

charter of incorporation грамота о присвоении статуса

                                    корпорации

chartered                     получивший грамоту от властей

chattel                          движимость

chattels personal         движимое имущество

chattels real                 арендные права

care                              забота, попечение

child care                     уход за ребенком

chose                           движимое имущество

chose in action             право требования

chose in possession     вещь во владении; абсолютное право

civil                             гражданский

claim                            требование, претензия

injury claim                 иск о возмещении вреда

to claim                       требовать

to claim damages         требовать возмещения убытков

claimant                       истец

class                            группа, категория

clause                          статья, пункт

to codify                      кодифицировать

collateral                      дополнительный, вспомогательный

to commence               возбудить дело

comment                      толкование

fair comment               добросовестное толкование

commission                 1) поручение  2) комиссионное

                                    вознаграждение

to commit                    совершить

commitment                обязательство

commodity exchange   товарная биржа

commodity market      товарный рынок

company                     компания

company limited by     компания с ответственностью

guarantee                     участников в гарантированных ими

  пределах

company limited by shares      компания с ответственностью

                                    участников в пределах принадлежащих

                                    им акций

holding company         компания, владеющая акциями других

                                    компаний на началах доверительной

  собственности

private company         закрытая акционерная компания

public company           публичное акционерное общество

subsidiary company    дочерняя компания

to compensate             возместить

compensation              возмещение, компенсация

complaint                    1) жалоба, претензия  2) иск

compliance                  соответствие, соблюдение правовых

                                    норм

complicity                   соучастие

to comply                    1)соответствовать 

                                    2)подчиняться правовым нормам

compliance                  1)соответствие 

                                    2)соблюдение правовых норм

compulsory                 принудительный

concern                        концерн

сoncession                   льгота

conclusive                    решающий

сoncurrent                   1) совпадающий  2) параллельный

condition                     условие

precedent condition     предварительное условие

subsequent condition   последующее, отменительное условие

conditional                  условный

conduct                        поведение

conductive                   ведущий

to confer                      предоставлять

confidence                   доверие

to confirm                    утверждать

confirmation                утверждение

to confuse                    спутать

confusion                     создание ложного впечатления

consent                        согласие

conscience                   1) сознание  2) совесть

consideration               1) рассмотрение; соображение 

                                    2) встречное удовлетворение,

                                    компенсация

failure of consideration  отпадение основания договора

valuable consideration достаточное встречное удовлетворение

consignment                груз, партия товара

to consolidate              объединять

conspiracy                   сговор, заговор

to consitute                  составлять

consitution                  состав

construction                толкование

constructive                 юридически подразумеваемый

to construe                  толковать

contentious                  спорный

to contest                     оспаривать

contingent                    зависящий от обстоятельств

continuity                    непрерывность

contract                       договор

contract of service       трудовой договор

binding contract          юридически обязательный договор

to contract                   заключить договор

contractor                    контрагент

independent contractor  подрядчик

contractual                  договорный

to contradict                возражать,опровергать

contradiction               противоречие

contradictory               противоречивый

contrary                       противоположный

to contribute                дополнить; внести

contribution                 взнос

control                         надзор

controller                     ревизор

conversion                   присвоение движимого имущества

to convert                    1) превращать 

                                    2) изменять юридический статус

to convey                     передавать право

conveyance                  передача права

conveyancing               составление актов передачи

                                    права собственности

copyright                     авторское право

corporation                 корпорация, юридическое лицо

statutory corporation  корпорация, основанная на законе

court                            суд

Court of Appeal          апелляционный суд

Сourt of First Instance   суд первой инстанции

Court of Protection     опекунский суд

bankruptcy court         суд по делам о несостоятельности

county court                суд графства

criminal court              уголовный суд

Crown Court               суд короны

European Court of Justice       Суд Европейских Сообществ

High Court                  высокий суд

juvenile court               суд по делам несовершеннолетних

King's Bench Divisional апелляционное присутствие отделения

Court                           королевской скамьи                

lower court                  нижестоящий суд

magistrate court          суд магистрата, мировой суд

superior court              вышестоящий суд

Supreme Court            Верховный Суд

covenant                      1) договор, акт за печатью 

                                    2) обязательство, условие

restrictive covenant     ограничительное условие

to cover                       относиться (к)

to create                       создавать, предусматривать

consumer credit           кредит для клиента (в магазине

                                    или в банке)

crime                           преступление

criminal                       преступник; уголовный

 

D

 

damage                        убыток, ущерб

exemplary damages     штрафные убытки

liquidated damages      оценочная неустойка, ликвидные

                                    убытки

debenture                     1)облигация, долговое

                                    обязательство  2)cсуда компании

                                    под фиксированный процент

                                    3)залоговый запас

debt                             долг

judgement debt            присужденный долг

debtor                          должник

deceit                           обман

declaration                   исковое заявление

declaration of trust      декларация о доверительном характере

                                    собственности

decree                          постановление, судебное решение

deed                             1) действие, поступок; факт 

                                    2) документ за печатью

title deed                      документ, подтверждающий право

to deem                        полагать, считать

defamation                  дискредитация

default                         1) недостаток 

                                    2) неисполнение, неплатеж

to be in default            не выполнить обязанность

to defeat                      препятствовать

to defer                        отложить, отсрочить

defence                        защита

to defend                     защищать

defendant                     1) ответчик  2) обвиняемый 

                                    3) подсудимый

to defraud                    обманывать, мошенничать

to delegate                   передавать полномочия

to deliver                     доставлять

delivery                       1) вручение  2) доставка, поставка

demise                         1) аренда  2) передача по наследству

denial                           отрицание; отказ

deposit                        вклад

sight deposit                бессрочный вклад

time deposit                 срочный вклад

to deposit                    внести вклад

depot                           база, склад

to deprive                    лищать

deregulation                 снятие ограничений

to derogate                  ущемлять (права)

derogation                   ущемление прав

design                          промышленный образец

to designate                 обозначить, предназначить

determinable                подлежащий прекращению,

                                    истекающий

detriment                     ущерб

development contract  контракт на разработку

to devulge                    разглашать

to discharge                 уплатить (долг)

to disclose                   сообщать, раскрывать

disclosure                    раскрытие, оглашение

to discontinue              прекращать (дело)

discretionary               предоставленный на усмотрение

to dismiss                    1) отклонять, прекращать  2) увольнять

dismissal                     увольнение  

onstructive dismissal   увольнение в соответствии с законом

unfair dismissal           несправедливое увольнение

to dispense (with)        обходиться без чего-либо

dispute                        спор

to dispute                    оспаривать

disputed                      спорный

dissent                         разногласие

to dissent                     расходиться во мнениях

dissolution                   ликвидация, роспуск

to dissolve                   ликвидировать

distinction                   различие

to distinguish               установить различия

disturbance                  нарушение общественного порядка

divergent                     противоречивый

division                       отделение

Family Division           отделение по семейным делам

  (высокого суда)

Chancery Division       канцлерское отделение (высокого суда)

Queen's Bench Division отделение королевской скамьи

                                    (высокого суда)

divorce                        развод

undefended divorce     развод при согласии со стороны

                                    ответчика

doctrine                       принцип

domicile                       1) домициль 2) место платежа

donation                      дарение

donee                           дарополучатель

draft                            тратта, вексель

bankler's draft             тратта, выставленная одним банком на

                                    другой

to draw                        1) взять деньги со счета, выписать чек

                                    2) составить документ

duty                             обязанность, долг

fiduciary duty              фидуциарная обязанность

duty of care                 обязанность соблюдать осторожность

 

E

 

easement                      сервитут      

effect                            действие, следствие

emblements                 доход с земли

emergency                   чрезвычайное обстоятельство

employee                     служащий, работник по найму

employer                     наниматель

employment                занятость, работа

to enable                      дать возможность, право, уполномочить

to enact                        принимать, устанавливать

to enact legislation       принимать законы

enactment                    нормативный акт, законоположение

encumbrance               1) помеха  2) закладная

endorsement                передаточная надпись

to enforce                    обеспечить соблюдение; взыскать;

                                    принудить к осуществлению

enforceable                  имеющий исковую силу

enforcement                 принуждение к исполнению

to enjoy                       обладать, пользоваться (правом)

to ensure                      гарантировать

to entitle                      давать право

entitlement                   предоставление права

entity                           самостоятельная правовая единица

to entrust                     вверять, возлагать

equitable                      справедливый, основанный на праве

                                    справедливости

equity                           1) право справедливости  2) акция

essential                       1) существенный 

                                    2) существенная часть, условие

to establish                   1) учредить  2) доказать

estate                           имущество, собственность

estate in expectancy      ожидаемое имущество

estate in possession       реально используемое вещное право

estate at sufferance       владение с молчаливого согласия

  собственника

estate at will                 бессрочная аренда

equitable estate             вещно-правовой интерес по праву

                                    справедливости

absolute estate              абсолютное имущественное право

freehold estate              безусловное право на недвижимость

legal estate                   законная земельная собственность

life estate                      пожизненное право на недвижимое

                                    имущество

to estop                        лишать права возражения

estopped                       лишенный права возражения

evidence                       доказательство

conclusive evidence      решающее доказательство

to exclude                     исключить

exclusive                      исключительный

execution                     исполнение

executory                     подлежащий исполнению

exempt                         освобожденный

to exempt                     освобождать

exemption                    освобождение, исключение

to exercise                    пользоваться

to expand                     расширяться

expectancy                   ожидание наследства

to expel                        исключать

expiration                     окончание

expiry                           истечение срока

expulsion                      исключение

express                         положительно выраженный, явный

to extend                      расширять, продлевать

extent                           объем, степень, мера

to fail                           отпадать, быть отклоненным

F

 

failing                          за неимением, ввиду отсутствия

failure                          неисполнение, бездействие

fair                               справедливый, обоснованный

falsehood                     обман

favourable                   льготный, выгодный, благоприятный

fee                                1) вознаграждение, гонорар

                                    2) право наследования

fee simple absolute      безусловное право наследования

fee simple conditional  ограниченное право наследования

fiduciary                      доверенное лицо, попечитель

fine                              штраф

to fix                            назначать, устанавливать

forbearance                  воздержание от действия

foreclosure                   лишение права выкупа заложенного

                                    имущества

to forfeit                      1) терять 2) конфисковать

forfeiture                     1) потеря, утрата, лишение прав

                                    2) штраф

to foresee                     предвидеть

foreseeable                   предсказуемый

forgery                         подлог

formality                     специальная процедура, формальность

fraud                            обман, мошенничество

freehold                       безусловное право собственности

                                    на недвижимость

freeholder                    свободный собственник

to frustrate                  расстроить (планы)

frustration                   расстройство (планов)

frustration of contract 1)отпадение смысла договора 

                                    2)невозможность выполнения договора

 

G

 

goodwill                      репутация фирмы, нематериальные

                                    активы

to grant                        1) предоставить, разрешить, выдать

                                    2) передать право

grantor                        лицо, передающее право собственности

gratuitious                   безвозмездный; ничем не

                                    подкрепленный

grievance                     жалоба

redress of grievance     удовлетворение жалобы

ground                         основание

to guarantee                 поручиться

guarantee                     гарантия

 

H

 

harm                            вред, ущерб

heir                              наследник

heritable                      наследуемый, наследственный

to hire                          нанимать

hirer                             наниматель           

hire-purchase               купля-продажа в рассрочку

to hold                         выносить решение

holder                          владелец, держатель

account holder             владелец счета

holding                        владение, держание

to honour                    оплатить (вексель)

 

I

 

illegal                           незаконный, противоправный

to implement               выполнять, осуществлять

implication                  скрытый смысл

by implication             по внутреннему смыслу

implied                        подразумеваемый, вытекающий из

                                    обстоятельств

to imply                       подразумевать

to impose                    налагать

imposition                   наложение

incapacity                    ограничение дееспособности,

                                    недееспособность

incentive                      поощрение

incidental                     присущий, свойственный

to include                     включать

inclusion                      принятие

to incur                        нести расходы, принимать на себя

                                    ответственность

to indemnify                гарантировать возмещение ущерба

indemnity                    возмещение ущерба

indeterminate               неопределенный

indirect                        косвенный

in favour (of)               в пользу

influence                      влияние

undue influence           злоупотребление влиянием

infringement                нарушение

in good faith                добросовестно

inheritance                   наследование

injunction                    судебный запрет

injury                           вред, ущерб

criminal injury             ущерб, вред, причиненный

                                    преступлением

insolvency                   несостоятельность

insolvent                      несостоятельный должник

instalment                    частичный платеж

by instalments             в рассрочку

institutional                 основной, изначальный, базисный

instrument                   1) документ, представляющий собой

                                    правовой акт 2)орудие

negotiable instrument  товарораспорядительный документ

statutory instrument    статут

insurance                     страхование

insurance policy          страховой полис

marine insurance         морское страхование

national insurance       государственное социальное

                                    страхование

to insure                      застраховать

intangible                     нематериальный

to integrate                  объединять

intention                      намерение, умысел

intentional                   умышленный

interest                        1) заинтересованность, выгода 

                                    2) доля, процент

interest rate                 процентная ставка

debt interest                 процент по задолженности

interference                  1) помеха, препятствие 

                                    2) вмешательство

intermediary                посредник

intestate                       умерший без завещания

intimidation                 запугивание

to introduce                 внести на рассмотрение

to introduce legislation  внести законопроект

intrusion                      вторжение

invalid                         не имеющий силы

in virtue (of)                посредством чего-либо

issue                            спорный вопрос

to issue                        1) выпустить  2) выдавать

 

J

 

joint                             совместный

judge                            судья

circuit judge                 окружной судья

district judge                1) cудья местного суда

                                    2) федеральный районный судья

trial judge                    1) cудья первой инстанции

                                    2) судья, рассматривающий дело

judgement                    1) судебное решение, приговор

                                    2) мнение, оценка

judgement creditor       кредитор, получивший судебное

                                    решение

judicature                    отправление правосудия

jurisdiction                  юрисдикция, подсудность

juristic                         юридический

just                              справедливый, законный,

                                    обоснованный

justice                          1) судья  2) юстиция

lay justice                    мировой судья

justification                 оправдание; основание

to justify                      обосновывать

 

K

 

know-how                   технология, "секрет фирмы"

 

L

 

label                             ярлык

landlord                       1) землевладелец  2) владелец

                                    недвижимости

lapse                            прекращение

lapsed                          недействительный

law                              закон, право

law of obligation         обязательственное право

law of torts                  деликтное право

law of trusts                правовые нормы о доверительной

  собственности

case law                       прецедентное право

civil law                       гражданское право

common law                общее право

criminal law                 уголовное право

statute (statutory) law статутное право

lawful                          законный

lay                               1) мирской, светский 

                                    2) непрофессиональный

lease                            наем, аренда

leasehold                     арендованная земельная собственность

leave                            разрешение

legal                             законный

legal relation                правоотношение

legal tender                  законное платежное средство

to legislate                   издавать законы

legislation                    законодательство

delegated legislation    делегированное законодательство

direct legislation          непосредственное законодательство

social legislation          социальное законодательство

legislative                    законодательный

legislature                    законодательный орган

legitimacy                    законность

to lend                         давать взаймы

lender                          заимодатель

lending                         предоставление займа

lessee                           арендатор, съемщик

liabilities                      денежные обязательства

liability                        ответственность

limited liability            ограниченная ответственность

tortious liability           деликтная ответственность

unlimited liability        неограниченная ответственность

vicarious liability         ответственность за действия других лиц

liable                            ответственный

libel                             пасквиль (письменная клевета)

lien                              залоговое право

liquidation                   определение суммы, оплата

loan                             ссуда

Lord Chief Justice       лорд главный судья (председатель

                                    отделения королевской скамьи

                                    высокого суда)

loss                              потеря, убыток

loyalty                         верность

 

M

 

to maintain                  1) сохранить в силе  2) заявить

malice                          злой умысел

malicious                     злонамеренный

mark                            товарный знак

certification mark        удостоверительный знак

marking                       маркировка

mandate                       полномочия

to mandate                  уполномочивать

memorandum of association   устав акционерного общества

minor                           1) несовершеннолетний 2) мелкий

minority                      несовершеннолетие

to minute                     составлять протокол

to misappropriate       присвоить, завладеть

misappropriation        присвоение

misconduct                  неправомерное поведение

misfeasance                 злоупотребление властью

misrepresentation        искажение фактов

misstatement               ложное (неверное) заявление

mortgage                     закладная

to mortgage                 закладывать

mortgagee                    залогодержатель

mortgager                    залогодатель

 

N

 

national                       гражданин

negligence                    небрежность, халатность

contributory negligence  встречная вина, небрежность истца

negligent                      небрежный

negotiable                    оборотный, могущий быть

                                    переуступленным

nominee                       назначенное лицо

note                             извещение, авизо

circular note                циркулярное аккредитивное письмо

notice                           предупреждение, извещение,

                                    уведомление

constructive notice      суррогат извещения

judicial notice              осведомленность суда

to notify                      извещать

nuisance                      вред, нарушение покоя

private nuisance          источник опасности или неудобства для

                                    одного лица или группы лиц  

public nuisance            источник опасности или неудобства для

                                    всех окружающих

nullity                          недействительность, ничтожность

 

O

 

object                           цель

objection                      возражение, препятствие

obligation                    обязательство

contractual obligation  договорное обязательство

legal obligation            правовое обязательство

mutual obligations       взаимные обязательства

obligee                         кредитор по обязательству

obligor                         должник по обязательству, дебитор

to obstruct                   мешать, чинить препятствия

occupation                   1) владение  2) работа             

occupier                       владелец

offensive                      причиняющий вред

offer                             предложение

standing offer              постоянное предложение

officer                          служащий

ommission                   бездействие, упущение

onerous                       обременительный

operation                     юридическая сила

by operation of law     в силу закона

to opt                          выбирать

option                          право выбора

order                            приказ, инструкция, распоряжение,

                                    декрет

Order in Council          правительственный декрет

charging order             приказ об обращении взыскания на

                                    долю должника в товариществе

winding-up order         приказ о ликвидации компании       

ordinary                      член суда

outstanding                 неоплаченный

to overlap                    частично покрывать

to overreach                1) овладевать, распространяться (на) 

                                    2) достичь мошенническим путем

to override                   превышать; иметь преимущественное

                                    действие

to overrrule                 отменять, отклонять; отвергать решение

                                    суда

oversight                     недосмотр, оплошность

to owe                         1) быть должным  2) быть обязанным

to own                         владеть

owner                          собственник

ownership                   право собственности

 

Р

 

paid-up capital            оплаченный акционерный капитал

panel                           1) список  2) состав присяжных

paramount                   верховный

part and parcel            неотъемлемая часть

partition                      раздел

partner                        1) компаньон         2) контрагент

sleeping partner           компаньон-вкладчик

general partner            член полного товарищества

partnership                  товарищество, партнерство

party                           сторона

passing-off                  выдача своего за чужое

payable                        оплачиваемый

payee                           векселедержатель

performance                1) исполнение  2) работа

specific performance   реальное исполнение

permission                   разрешение

permit                          письменное разрешение

person                         лицо

artificial person           юридическое лицо

legal person                 субъект права; юридическое лицо

natural person             физическое лицо

self-employed person  самостоятельный предприниматель

personality                  личность     

legal personality          правосубъектность

separate legal personality        самостоятельная правосубъектность

petition                        ходатайство, исковое заявление

to petition                    подавать ходатайство

petitioner                     проситель

plaintiff                       истец

point                            вопрос

point of fact                 вопрос факта

point of law                 вопрос права

possession                   владение

possessor                    владелец

power                          1) полномочие, компетенция  2) власть

precedent                     1) прецедент  2) предшествующий

binding precedent        прецедент, имеющий обязательную

                                    силу

prejudice                      предубеждение

unfair prejudice           предубеждение при отсутствии повода

premium                      приплата

to preside                    председательствовать

presumption                 презумпция

to prevent                     предотвращать

principal                       1) основной  2) доверитель

prior                             предварительный

priority                         приоритет

privity                          общность интересов, согласие

privity of contract         договорные отношения

probate                         1) утверждение завещания 

                                    2) дело о наследстве

procedure                     судопроизводство, процесс

grievance procedure      порядок рассмотрения жалоб

proceeding(s)                1)иск  2)взыскание 

                                    3)судебное разбирательство

proceeds                       выручка

to procure                     приобретать

profit                            прибыль

net profit                      чистая прибыль

prohibitive                    препятствующий

prohibition                   запрет

promisor                       должник по договору

promissory note            простой вексель

promoter                      учредитель   

promotion                    учреждение, основание

to promulgate               обнародовать

proof                            доказательство

property                        собственность

common property         общая собственность

joint property                совместная собственность

personal property          движимое имущество

private property            частная собственность

real property                 недвижимое имущество

proprietor                     собственник

proprietorship               право собственности

proposal                        предложение

to provide (for)             предусмотреть

provision                      1) постановление, положение 

                                    2) обеспечение     

provisional                    предварительный

to punish                      наказывать

punishment                  наказание

purchase                       покупка

to purchase                   покупать

purchaser                      покупатель

to purport                     иметь целью

pursuant (to)                в соответствии (с), согласно чему-л.

Q

 

quasi-trustee                лицо, действующее как доверительный

                                    собственник не имея на то полномочий

 

R

 

to raise                        собирать, изыскивать (денежные

                                    средства)

to ratify                       одобрять, утверждать, ратифицировать

reasonable                   разумный

to rebut                        опровергать

record                          послужной список

recorder                       1) протоколист  2) городской мировой

                                    судья

to recover                    взыскать в судебном порядке

recoverable                  подлежащий взысканию

recovery                      взыскание в судебном порядке

rectification                 исправление, внесение поправок

to redeem                     выкупать (заложенное имущество)

redemption                  выкуп заложенного имущества

redundancy                  1) излишек  2) компенсация 

                                    3) иррелевантность  4)увольнение по

                                    сокращению штатов 

redundant                    уволенный по сокращению штатов

to refer                         ссылаться; передавать (дело)

to refrain                     воздержаться

to register                    регистрировать

registrar                       1) регистратор  2) регистрационное бюро

registry                        судебная канцелярия

to regulate                   регулировать, регламентировать

regulation                    постановление, правило

to reimburse                возмещать

reinstatеment               восстановление

to reject                       отклонять

relevant                       1) относящийся к делу 

                                    2) обоснованный

to relieve                      освобождать от ответственности

relief                            1) освобождение (от ответственности)                  2) удовлетворение требования

remainder                    последующее имущественное право

remedy                        средство судебной защиты

equitable remedy         средство судебной защиты по праву

  справедливости

legal remedy                средство правовой защиты

remoteness                  отдаленность причинной связи

remuneration               вознаграждение, компенсация

to render                      признавать

repayable                     подлежащий возврату, выплате

to repudiate                 отвергать, отказываться, аннулировать

requisite                       необходимый

to requisition               реквизировать

to rescind                     аннулировать

rescission                     аннулирование

resolution                    решение

respect                         соблюдение

responsibility              ответственность

restitution                    восстановление первоначального

                                    положения

restraint                       запрещение

to restrict                     ограничивать

restriction                    ограничение

retailer                         розничный торговец

to retain                       удерживать

retention                      сохранение, удержание

return                          1) отчет  2) прибыль

gross return                 валовая прибыль

revenue                        доход

reversion                     переход права к прежнему

                                    собственнику

reversionary                возвратный

to revert                       перейти к прежнему собственнику,

                                    возвратиться к прежнему положению

to revise                       пересматривать

to revive                      возобновить

revocation                   отмена

to revoke                     отменять, отзывать, брать назад

right                             право

right of way                 право прохода, проезда

as of right                    по неотъемлемому праву

in one's own right        по собственному праву

legal right                    законное право

voting right                  право голоса                            

roll                               протокол, реестр

Master of the Rolls      1) глава государственного архива   

                                    2) председатель апелляционного суда

rule                              правило, норма

to rule                          решать, устанавливать норму

ruling                           постановление, решение суда

to run a business         вести дело   

 

S

 

sale                              продажа

conditional sale           продажа товара с оплатой частями

credit sale                    продажа в кредит

sanction                       одобрение, санкция

scope                           предел, сфера применения

security                        1) обеспечение, залог  2) ценная бумага

collateral security        дополнительное обеспечение

self-defence                  самозащита

sentence                       приговор     

to set aside                  аннулировать, расторгнуть

to set off                      зачесть требования

to set up                      основать, учредить

to settle                        распорядиться имуществом

settlement                    акт распоряжения имуществом

severance pay              выходное пособие

share                            1) доля  2) акция

share to bearer             акция на предъявителя

deferred share              акция с отсроченным дивидендом

ordinary share             обыкновенная акция

preference share          привилегированная акция

registered share           именная акция

to share                       делить

shareholder                  акционер

slander                         клевета (устная)

sole trader                   единоличный предприниматель

solicitor                       стряпчий

source of law               сточник права

speculation                  сделка

spouse                         супруг(а)

stamp                          марка

statement                     заявление

statement of law          заявление по вопросу права

statute                         законодательный акт

statutory                      законный, действующий в силу закона

to stipulate                  обусловливать

stipulation                   условие

stock                            основной капитал

stock-in-trade              товар, готовый к продаже

subject to                     1) за исключением 

                                    2) подлежащий чему-либо

sub-lease                      поднаем

sub-letting                   передача в субаренду

to submit                     представлять, передавать на

                                    рассмотрение

to subscribe                 подписываться

subsequent                  последующий

subsidiary                    дочерняя компания

to subsist                     1) существовать  2) прокормить

substance                     содержание

substantive                  1) материально-правовой  2) основной

succession                   наследование; преемственность

to sue                           преследовать по суду, предъявлять иск

sufficiency                   обоснованность

suit                              иск

summons                     1) вызов в суд 

                                    2) обращение с ходатайством к судье

to supervise                 осуществлять надзор

supervision                  контроль

to supply                     поставлять

supplier                       поставщик

supremacy                   верховенство

supreme                       верховный, высший

surety                          поручительство

surrender                     отказ

to surrender                 отказаться

surveillance                 наблюдение

to suspend                   приостанавливать

suspension                  приостановка

 

T

 

to take away                изъять

to take over                 1) принимать дела 

                                    2) поглотить компанию

takeover                      поглощение, слияние компаний

tangible                        материальный

tax                               налог

tenant                          арендатор, съемщик

council tenant              съемщик жилья у муниципалитета   

tenancy                        1) владение  2) аренда

tenancy in common     общее владение

joint tenancy                совместное владение

term                             срок

term of years               право на недвижимость, ограниченное

                                    определенным числом лет

expired term                истекший срок

unexpired term            неистекший срок

terminable                   ограниченный сроком

to terminate                 прекращать(ся)

termination                  прекращение

thereto                         к тому же

threat                           угроза

title                              право, правооснование

equitable title               правовой титул, основанный на праве

  справедливости

good title                     достаточное правооснование

tort                              гражданское правонарушение, деликт

tortfeasor                     правонарушитель

joint tortfeasors           соделинквенты

tortious                        деликтный

trade                            ремесло, торговля

to trade                        торговать

trading                         профессиональная  деятельность,

                                    промысел

trademark                    товарный знак

to transact                   вести дела, заключать сделки

transaction                  сделка

transfer                        передача, уступка

transferee                     правопреемник, индоссат

transferer                     индоссант              

to treat                         1) считать, рассматривать 

                                    2) вести переговоры

treatment                     обращение, обхождение, рассмотрение

treaty                           договор

trespass                       нарушение владения

trespass to goods        нарушение владения движимостью с

  причинением вреда

trespass to land           нарушение владения недвижимостью с

                                    причинением вреда

tribunal                        суд, трибунал

industrial tribunal        промышленный трибунал

land tribunal                земельный суд

statutory tribunal        орган правосудия

true                              подлинный, верный

trust                             1) доверительная собственность 

                                    2) кредит    

trustee                         доверительный  собственник,

                                    попечитель

to try                           1) рассматривать, разбирать  2) судить

 

U

 

unconditional              безоговорочный

to undertake                предпринимать, брать на себя

                                    обязательство

undertaking                 1)предприятие  2)постановление

undoubted                   бесспорный

unfair                           несправедливый

unjustifiable                 неправомерный, неоправданный

unlawful                      незаконный, противоправный

unqualified                  безусловный

unsound                      недееспособный

unsound mind             психическое расстройство

to uphold                     поддерживать

 

V

 

valid                            действительный, имеющий

                                    юридическуюсилу

valuation                     оценка

value                            стоимость

valuer                          оценщик

vendor                         продавец

venture                        предприятие

joint venture                cовместное предприятие

verbal                          словесный

vested                          принадлежащий

victim                          потерпевший

victimization                преследование

view                             точка зрения

void                             1) не имеющий юридической силы 

                                    2) ничтожный

 

W

 

to waive                       отказаться

waiver                         отказ

wardship                     опека

warrant                        свидетельство

dividend warrant         купон на получение дивиденда

share warrant              предъявительское свидетельство

                                    на акцию

to warrant                   подтверждать, ручаться

warranty                      1) гарантия  2) договорное условие

will                              завещание

at will                          по усмотрению

wilfully                        умышленно

to wind up                   ликвидировать

winding-up                  ликвидация компании

with a view                  с целью, на предмет

to withdraw                 выходить

to withhold                  не сообщать

witting                         заведомый, намеренный, умышленный

wittingly                      умышленно, сознательно

worker                         работник

worker's safety            техника безопасности

casual worker              случайный работник

seasonal worker          сезонный работник

temporary worker       временный работник

worthwhile                  стоящий

writ                              судебный приказ, постановление суда

writ of execution         исполнительный лист

wrong                          правонарушение, вред

to wrong                      причинять вред

wrongdoer                   правонарушитель

wrongful                      противоправный, незаконный

                                     

 

 

a priori                         априорно, из предшествующего         

ab initio                        сначала

ad hoc                          специально, для данного случая

ante                              до

a.m. (ante meridiem)    до полудня

bona fide                      добросовестно

contra                           против

corpus delicti                состав преступления

de facto                        фактически

de jure                          юридически

dictum (dicta)               неофициальное мнение судьи

e.g. (exempli gratia)      например

ex gratia                       из милости

ex officio                      по должности

ex parte                        от имени

i.e. (id est)                    то есть

inter alia                       между прочим

inter se                         между собой

intra vires                     в пределах полномочий

ipso facto                      в силу самого факта

ipso jure                       в силу самого права

lex                                закон

biter dictum                  неофициальное мнение судьи

per                               на, по

per cent                        процент

per se                           по сути

post                              после

post factum                  после события, задним числом

p.m. (post meridiem)    после полудня

primafacie                    с первого взгляда

pro                               за

pro forma                     ради формы

pro tempore                  временно

quasi                            мнимый

quid pro quad               одно вместо другого

sic.                               так!

simpliciter                    безусловно, без ограничений

status quo                     существующее положение

ultra vires                     вне компетенции

v. (versus)                    против

veto                              право запрещения, вето

vice versa                     наоборот

viva voce                      устно

viz (videlicet)                а именно      

 

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