Legal English Challenge 2024 – Week 1 Test

Let’s take the test of the 1st week!

LEC 24 - Week 1 Test

1 / 25

Based on the key words and expression, find out the type of clause.

last, remain in force,  legally binding, definite, indefinite, renewal, early termination, conditions, automatic, notice to terminate

2 / 25

Identify the type of clause

Payments made under this contract shall be made without deductions (including taxes or charges). If the applicable law requires any tax or charge to be deducted before payment, the amount due under this agreement shall be increased so that the payment made will equal the amount due to Party A as if no such tax or charge had been imposed.

3 / 25

Complete the gap with the correct expression

When the __________ clause is invoked, the borrower is required to pay the entire outstanding balance of the loan immediately,

4 / 25

Identify the type of clause

Any additional services, modifications, or amendments to this Agreement beyond the scope outlined herein shall be subject to additional consideration as agreed upon by both parties in writing.

5 / 25

Complete the gap with the correct expression

In the event of the Employee's voluntary termination, the Employee may exercise the vested portion of the  _________ within 30 days from the termination date.

6 / 25

Complete the gap with the correct expression

The _____________ clause specifies whether involving a third party is allowed and under what conditions. It may provide the contracting party with the freedom to delegate certain tasks to a third party.

7 / 25

Based on the key words and expression, find out the type of clause.

sales contracts, risk, non-payment, insolvency, financial instability, mitigation strategy, secure interest, property, good and sufficient consideration, delivery, physical possession

8 / 25

Based on the key words and expression, find out the type of clause.

articles of association, future, exercise, renew, technology, update, share, employees, directors, stakeholders, predetermined price, reward

9 / 25

Identify the type of clause

The Contractor may not subcontract any portion of the services under this Agreement without the prior written consent of the Client. Any approved subcontractors must meet the qualifications and standards outlined in this Agreement. The Contractor remains fully responsible for the performance of any approved subcontractors

10 / 25

Based on the key words and expression, find out the type of clause.

creditor, debtor, installment, deduction, money,  obliged to pay, owe money, sum, reduce, 

11 / 25

Identify the type of clause

Upon the occurrence of any of the following events, the Lender shall have the right to declare the entire outstanding principal amount, together with accrued interest and any other amounts owed under this Agreement, immediately due and payable:

If the Borrower fails to make any payment when due under this Agreement.

If the Borrower breaches any material covenant, representation, or warranty contained in this Agreement.

If the Borrower becomes insolvent or files for bankruptcy.

If there is a change of control in the ownership or management of the Borrower.

12 / 25

Complete the gap with the correct expression

The _____________ clause  specifies who is eligible to receive the right to purchase shares in a company, which can include employees, directors, or other individuals associated with the company.

13 / 25

Complete the gaps with the correct expression.

This Agreement shall be in effect for a period of two years, __________ on 15th January, 2024 and terminating on 15th January, 2026.

14 / 25

Complete the gap with the correct expression

A _____________ clause states that the seller does not transfer the ownership of the goods or real property until the buyer has paid the full purchase price.

15 / 25

Identify the type of clause

Party B agrees with Party A throughout the term of the contract not to set off for any reason any money payable by Party B to Party A for supplies or products under the contract.

16 / 25

Identify the type of clause

The Buyer has the option to purchase additional units of the product at the same price as the initial order within six months of the contract expiration.

17 / 25

Based on the key words and expression, find out the type of clause.

loan agreements, lender, demand,  immediate, outstanding balance, non-payment, breach of contract, bankruptcy, insolvency, principal amount

18 / 25

Identify the type of clause

This agreement shall commence on 13th January, 2024 (‘the Commencement Date’)

And continue in full force  and effect for a period of three months unless terminated earlier by either party under the provisions of Clause 11.2.

19 / 25

Complete the gap with the correct expression

The Service Provider reserves the right, at its sole discretion, to __________ any amounts owed by the Client against any amounts owed by the Provider to the Client under this Agreement or any other agreement between the parties.

20 / 25

Based on the key words and expression, find out the type of clause.

key element, in exchange for, act, forbearance, a promise, the transfer of money, goods, or services, goods, services, furnished

21 / 25

Based on the key words and expression, find out the type of clause.

delivery or acceptance, by mutual agreement, unique conditions triggering events,  take effect, retroactive, from a specified start date onward, upon execution,

22 / 25

Identify the type of clause

In the event of default in the payment of any of the said installments or said interest when due as herein provided, time being of the essence hereof, the holder of this note may, without notice or demand, declare the entire principal sum then unpaid immediately due and payable.

23 / 25

Based on the key words and expression, find out the type of clause.

contractor, goods, services, client, delegate, obligations, third party, approval, qualifications, standards, consistent, confidential information, flow-down provisions, adhere to

24 / 25

Identify the type of clause

The Option shall vest in 1% increments over a 2-year period, with the first 0.5% vesting on 15the January, 2024, and subsequent 0.5% increments vesting on each anniversary of the Grant Date.

25 / 25

Identify the type of clause

The ownership of the goods supplied to the buyer shall remain with the  seller until payment in full for all the goods shall have been received by the seller in accordance with the terms of this contract or until such time as the buyer sells the goods to its customers by way of bona-fide sale at full maket  value. If such payment is overdue in whole or in part, the seller may recover or resell the goods or any part of it and may enter upon the buyer’s  premises for that purpose. Such payment shall become due immediatel upon the commencement of any act or proceeding in which the buyer’s solvency is involved.

Lingua Juris Szaknyelvi Központ
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