Legal English-Week 5: Major Contract Clauses PART 1

What is the Contract Clause that represents the statement below?

"Neither Party will be liable for any failure or delay in performing an obligation under this Agreement that is due to any of the following events beyond reasonable control: acts of God, accident, riots, war, terrorist act, epidemic, pandemic."

• Termination

• Assignment

• Force Majeure

• Consideration

Answer explanation

Acts of God

Which of the following gives the meaning of the underlined word?

"To disclose information to a third party"

• alter

• share

• hide

• request

What is the Contract Clause that represents the statement below?

"The Buyer agrees to pay 5.000.000 TL in exchange for the Seller’s flat, the Seller promises that the flat is in good condition, and the Buyer agrees to make payment via bank remittance."

• Consideration

• Confidentiality

• Termination

• Assignment

The Contract Clause that is represented in the statement below is (a)   Clause (Type the name of the Contract Clause BELOW).

"The Writer of the Book cannot transfer the copyrights of the Book to another publisher for a period of five (5) years during which this Agreement is in effect."

What is the Contract Clause that represents the statement below?

"Either party will have the right to end the contract by giving prior written notice to the other party at least 3 months before the end of the initial period of the contract or at least 30 days at any point after the end of the initial period."

• Assignment

• Consideration

• Confidentiality

• Termination

Which of the following is the word that describes each requirement, term and condition in a Legal Contract?

• Rights

• Provisions

• Prices

• Disclosure of information

Which of the following can NOT be regarded as a Force Majeure Event?

• Tropical hurricane

• Explosion in a factory

• Wild fire

• Bankruptcy

Which of the following best completes the statement below?

 

“If a Contract prohibits a Party to assign a right, duty, obligation under the contract, …”

• ... the breaching Party will have to give up the rights that are provided in the agreement

• ... the Party cannot transfer the contractual rights given under this agreement to another person.

• ... it is the Party’s choice to transfer (or not to do so) the rights provided by the agreement to a third person

• ... the Party may allow another person (third party) to use the rights given under the contract.