I. Модуль профессионального общения Учебно-профессиональное общение Purchase and Sale Agreement

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I. Модуль профессионального общения
3. Учебно-профессиональное общение

3. 1. Purchase and Sale Agreement

Text 1

1.1. Study the following words and word combinations.

contract law

договорное право

to enforce the commitments

обеспечивать соблюдение обязательств




штраф, взыскание; наказание


заложник; залог

to pledge

закладывать; отдавать в залог

to entrust

доверять; вверять; поручать

a bargain

сделка; удачная покупка

in terms of

с точки зрения; в отношении

a commitment’s value

значимость обязательства


зд. сторона/стороны

1.2. Read the text and be ready to discuss it.

History of Contract Law

Contract law is the product of a business civilization. It will not be found, in any significant degree, in noncommercial societies. Most primitive societies have other ways of enforcing the commitments of individuals; for example, through ties of kinship or by the authority of religion. In an economy based on barter, most transactions are self-enforcing because the transaction is complete on both sides at the same moment. Problems may arise if the goods exchanged are later found to be defective, but these problems will be handled through property law – with its penalties for taking or spoiling the property of another – rather than through contract law.
Even when transactions do not take the form of barter, noncommercial societies continue to work with notions of property rather than of promise. In early forms of credit transactions, kinship ties secured the debt, as when a tribe or a community gave hostages until the debt was paid. Other forms of security took the form of pledging land or pawning an individual into “debt slavery.” Some credit arrangements were essentially self-enforcing: livestock, for example, might be entrusted to caretakers who received for their services a fixed percentage of the offspring. In other cases – constructing a hut, clearing a field, or building a boat – enforcement of the promise to pay was more difficult but still was based on concepts of property. In other words, the claim for payment was based not on the existence of a bargain or promise but on the unjust detention of another’s money or goods. When workers sought to obtain their wages, the tendency was to argue in terms of their right to the product of their labour.
A true law of contracts – that is, of enforceable promises – implies the development of a market economy. Where a commitment’s value is not seen to vary with time, ideas of property and injury are adequate and there will be no enforcement of an agreement if neither party has performed, since in property terms no wrong has been done. In a market economy, on the other hand, a person may seek a commitment today to guard against a change in value tomorrow; the person obtaining such a commitment feels harmed by a failure to honour it to the extent that the market value differs from the agreed price.

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