LELC

Units 7B/HIGHER, 8/ higher

Pages 263-346

Collocations

To set up a business

To take a risk

To make record profits

To declare a dividend

To distribute a dividend- მოგების განაწილება

A return on investment

Business fluctuates- ბიზნესი მერყვევია, არამდგრადი.

To consider an option

To secure a loan- სესხის უზრუნველყოფა

To make a profit

Unlimited liability

To make money

To bear a loss

To run a business

To have a control

Personal assets

To repay a loan

To go into business

To demand a payment

A legal entity- აქციონერული ბიზნესი, გაერთიანება

To make a decision

To incur a debt

To resolve a dispute- კონფლიქტის გადაჭრა

To settle a dispute- კონფლიქტის დარეგულირება

To dissolve a partnership- პარტნიორობის შეწყვეტა

To go bankrupt

Subject to/depending on- რაიმე გარემოებაზე დამოკიდებული. A formal way of saying

“considering what is written in” or “except as stated in”

Subject to- covered by. სესხისა და ვალის კონტექსტში.

By reason of- რაიმე მიზეზით, a formal way of saying “because of”

To disclose information- ინფორმაციის გასაჯაროება

To issue shares- აქციების გაცემა

To list a company- კომპანიის სიაში აღრიცხვა, შეყვანა.

TO ISSUE A LOAN- სესხის გაცემა

Limited liability

Claim damages

Fail to respond

Take legal action

Clients consult lawyers

Clients instruct lawyers

Lawyers act for clients

Lawyers advise clients

Lawyers represent clients

Lawyers act on behalf of clients

Lawyers take clients’ instructions

Lawyers start legal proceedings

Lawyers commence legal action- initiate/ start legal actions

Fail to make a payment

Under the contract

Supply/ provide with goods

Request an information

In the event that- if

In one’s capacity of- საკუთარი სახელოთ

Interest rates

Take out the loan

Waste time

Payment due on 12 april

Outstanding amount- დამატებითი

Legal dispute between someone

Deny the allegations

The court will find in someone’s favoir

To grant a mortgage over a property- to use that proerty as a security loan.

Default on payment- fail to make a payment

To carry on business- to trade

Insolvency proceedings- a process taken when an organisation or individual are no longer able
to meet their financial obligations and pay their creditors when debts are due.

To something for the benefit of someone

To pass a resolution- make a formal decision

Present a document- oficially give that document to someone or file the document in a
particular place.

To file a document

Winding up petition- a document that starts the process of liquisation. A request made to the
court.

To work closely

To experience difficulties
T raise finance

A long-term effect

To make a decision

To take a decision

To appoint a director

To remove a director

Good faith

To act improperly

To declare a dividend

To give consideration to

A conflict of interest

To give advice

To hold a meeting

To convene a meeting

To make a decision

To take a decision

To pass a resolution

To carry a resolution

To obtain a majority

To appoint a proxy

To form a quorum

A simple majority

To take the minutes

To adjourn a meeting

To go into liquidation/ receivership/ administration

To be in liquidation/ receivership/ administration

To put/ place a company into liquidation/ receivership/ administration

To present a petition

To realise assets

Secured/ unsecured creditors

To dissolve a company

Monthly instalments

To exceed something- to go above the amount that is allowed.

To go off- when food such as fish or meat goes off it means that you can’t eat the foot because it
is decaying.

Stamped on- put on or placed on.

A factory- a building where goods are manufactured.

A retailer- a person or company that sells goods to the public.

Cover someone against a loss

To carry a risk

To take out insurance

To retain title in goods

To recover goods

A sensible precaution

To take a precaution

Clearly stated

To enter onto someone’s premises

To provide a service

A rival organisation

To be free from any encumbrance

To transfer ownership

An implied term

To imply a warranty

To disclose information
To suffer a loss

An expressly stated contract term

Ruinous financial experiences

amend a warranty

the term of a contract

the expiry date of a contract

to commit a breach

a material breach

a minor breach

to remedy a breach

to give a notice

to enter into/ go insto liquidation

within seven days of receipt of such notice

An unforeseen event

To rely on a clause

To establish a principle

Prepositions
To trade under a name- mr. fox trades under the name of “foxgloves”

To insist on/ upon (doing) something

To be confident about something

To own shares in a company

To be interested in doing something

A return on investment

To decide on something- we decided on a partnership

To opt for something- to choose one thing or possibility rather than others

To be restricted by something

To register with someone- To give someone's, something's, or one's own name or other details
with a particular person, place, department, organization, etc.

To be responsible for (doing) something

To do something within a period of time- withing five days

To have security over assets- the bank has security over their car- სესხის დაზღვევა ქონებით.

To borrow something from someone

To belong to someone

To have control over something

According to something

To consist of something

entitled to- უფლებამოსილი

determined by someone

to have the agreement of someone- we have the agreement of our shareholders to enter into this
contract.

To do something through someone- I am buying some shares through a stockbroker.

To file a docunment at a place- at the counrt office

To end with something- my name ends with I

To protect someone from something

To have a number of something

The object of something- მიზანი

To have at least a number – we need at least 20000 $ to finance the project.

To make something available to someone- this info is available to mr. johnes

To submit something to someone; submit- წარდგენა, მიწოდება.

Deliver to

Incorporation of

In accordance with

Issue under

To comply with- დამორჩილება

Taxed as ( a partnership)

From time to time

In respect of- რაც შეეხება

Apply with

In connection with

With reference to- შესახებ, თაობაზე.= regarding

To act for someone

To act on behalf of someone

To be instructed by someone

To do soemthing by a date- return to me by 2 november

Within a period of time- within 14 days of the date of this letter

Until a date

To look forward to something

To hear from someone

Pursuant to/ according to

Pertaining to/ connected with (this matter)

Currently at the rate of

Payments will be placed in a client account in your name.

Audited by

Responsibility for something

Letter of 10 december

Further to
Compensation for

As a result of something

Acceptable to someone

Provisions in the agreement

The sale of assets

Partnership with other entities

Transfer to someone

Advice on the matter.

Year of trading

Increase by 15%

Plan for expansion

Approval from

Instalments on the loan

Repayment of the loan

To be in dispute with someone

To advise on something

In connection with something

To succeed in doing something

To work on a project

To think about something

To be familiar with something

To have at least a particular number- “he must be at least 4 years old”

To appoint someone as a director

To be satisfied/ dissatisfied with something

To be classed as something

To act in the interests of someone

To lead to something
To be sidqualified from something

To act in good faith

To have a meeting with someone

The rules on/ about something

A show of hands

To attend in person

To vote by proxy

To give notice of something

To vote in favour of something

To take the minutes of a meeting

To go into liquidation/ receivership/ administration

The proceeds of sale

To be in liquidation/ receivership/ administration

Cease to drade

Pass from someone to someone

Title to something

Retain ownership on something

Within a period of time (within 3 days)

A contract for the hire

In a condition

free of the obligation

to pay for goods

to pay in/by instalments

to protect against non-payment

to incorporate a clause into a contract

to mix one product with another.

Property in the goods

At all times

Payment made in full

sale of the goods

title to the goods- Title refers to ownership of the good.

As a self- employed “designer”

Aimed at

Brochure with 10 pages

From brochure onto website.parties to the agreement

In dispute

Ownership of some goods

Difference between

Make money from doing something.

To be contracted by someone to do something

In the hands of a rival organisation

To have copyright in something

To have intellectual property rights in something

At the time of payment

To be of a certain standart

A warranty made by one party to the other party

Loss arising from a breach

To indemnify someone against loss or damage.

The circumstances under/ in which something can happen

To insist upon/on something

To be in breaach of your obligations

To give rise to something

To be outside someone’s influence

To go out of business
 dictionary
Dissolved- ჩაშლილი შეთანხმება, ლიკვიდირებული

Joint and several liability- სოლიდარული და ცალ-ცალკე პასუხისმგებლობა

Equity- აქციონერების წილი კაპიტალში

To incur- დაზარალება incur a debt/additional costs

Respective- relevant, particular, the one thing in a group of things that refers to or belongs to a
particular person. შესაფერისი, შესაბამისი

A schedule- a document containing extra information that is attached to a contact

Annexed- attached, დანართი/ დამატება

Context- cincumstances or situation

Whatsoever- at all, ყოველი

Hereto- ამასთან, ამ (ფურცელთან, დოკუმენტთან)

Hereof- ამის შესახებ, აქედან

Former- ყოფილი

Thereof- ეს, ის, ამისგან, მისგან.

Retirement- პენსია

Resignation- გადადგომა. When someone voluntarily leaves their job.

Expulsion (from a partnership)- გათავისუფლება თანამდებობიდან

Dissolution- შეწყვეტა, ხელშეკრულების დარღვევა. A situation where partnership has been

brought to an end so that it no longer exists.

to cease- შეწყვეტა. A Formal way of saying “stops”

provision- ხელშეკრულების/ კანონის დეპულება, პირობა. Terms and conditions contained

in a contract.

notice- შეტყობინება, formal communicaton or warning that something will happen.

commencement- დასაწყისი. A formal word meaning the start or the beginning of something.

determined- განსაზღვრული, დადგენილი, გადაწყვეტილი. To end or to terminate, also to

decide.
Duration- a period of time.

Majority- more than a half of any particular group.

Survivors- the remainig partners. People who continue to partners after one of the partner dies
or leaves the partnership for any other reason.

To draw- take money from an account.

Aggregate- total

Contribute- give

Profit- gains and losses

Dissolve- finish

Share capital- the amount of money that represens the value of a compant’s shares.

Single- member company- a company that has just one shareholder

Secretary- a person who must make sure that all the statutory regulations regarding a ompany
are followed.

Dividend- share capital

Disclose- to make public, reveal.

The memorandum of association- set out the company’s name, where the subscribers (ხელის
მომწერები) of the company are situated and the purpose of the company. Lawyers call it the
“registered office” of the company. წესდება.

Articles of association- first shareholders of a company.

Ratify- offiially approve

Prior- before

Subsist- continue to exist

Take effect- start to operate

Indemnify- pay for any damage suffered

Benefit- good

Consent- permission

In the event that- if

Concept- კონცეპტი, პრინციპი

Capital value- სააქციონერო ღირებულება.

Authorized share capital- გამოსაშვებად ნებადართული სააქციონერო კაპიტალი.

Allot- განაწილება კენჭის ყრით. დადგენა, გამოყოფა, განკუთვნა.

Designated- დანიშNული კონკრ. თანამდებობაზე

Annual return- წლიური ანგარიში.

To deem- რწმენა, მიჩნევა.- consider

Implied- ნაგულისხმევი საქმიდან გამომდინარე.

Reference- მითითება

Legal reference- მითითება სამართლებრივ ნორმაზე

Legislative reference- მითითება საკანონმდებლო აქტზე.

Subject line- heading to a letter

Mortgage- გირაო

To Enclose- თან დართვა

Furnish- provide

Procure- obtain

Execute- perform

Undertake- agree

Instigate- start

Express- clear

Moral damage- emotional distress

Employees- people who work for the company

Directors- people who run the company

An accountant- person who deals with the financial paperwork of the company

Secretary- a person who makes sure that the legal requirements of the company are complied
with.

Auditor- a person who inspects all the financial records of the company

Creditors- people who the company owes money to

Debtors- people who owe money to the company.

Suppliers- people or companies that provide goods or service to other people or companies,
often on regular basis.

An invoice- a piece of paper that shows what you are buying and how much you must pay.

Directors’ service agreements- contracts between a company and a director.

Insolvency- a situation where a company does not have enoigh money to pay its debts-
გაკოტრება

Mergers- when two companies join together to form one company

Raising finance- obtaining money from banks, private individualsm or ivestment institutions.

Acquisitions- when one company buys another company. Also known as “takeovers”

Incorporating companies- legal work involved in setting up a new company

Restructuring companies- changing the existing structure of the companies with the aim of
improving their perfomance- რეორგანიზაცია.

Joint ventures- situations where two or more companies work together on a particular project
for a limited period of time. Each company remains independent from each other.

Shareholders’ agreements- agreements between the members of a company.

Directors’ duties- the obligations and requirements of a director.

Undertook- did.

Client base- the number and type og people and companies that a law firm provides service to.

To acquire further skills- to get more practice in doing something sp that you become better at
doing it.

PQE- post qualificqation experience.

Executive directors- people who make all of the day-to-day decisions about running a company.

Apointed- elected or chosen for a particular position

Fiduciary duty- a duty to act in the best interests of someone because that person trusts you.

Shadow director- someone who doesn’t have an official position of authority but still gives
instructions to the official directors.
A conflict of interest- when you are in aposition of trust for more than one person and if you
take a particular action, this will be good for one person while at the same time be bad for
another.

To remove a director- dismiss tgat person from his or her position as a director.

To exercise a power- use that power.

Mobility equipment- which hels to move- f.e wheelchairs

Good faith- honesty and sincerity, loyalty

The best of my ability- to do something as well as you possibly can

Devastated- extremely upset.

Quorum-the minimum number of people who have to be ay the meeting in order to make an
official decision.

convene a meeting- to call a meeting. A company sends a notice to all the shareholders telling
them when and where the meeting will take place.

Adjourn- stop the meeting and arrange a new date for it, postpone it.

Shareholder’s Proxy- if a shareholder cant go to the meeting, he/she can ask someone else to go
there and vote for him/her. წარმომადგენელი.

Show of hands- voting by raising hands.

Poll- make a vote on paper.

Minutes- ოქმი

Motion- შუამდგომლობა- proposed resolution

To carry- გატარება, კენჭისყრით მიღება.

Pass- მიღება, დამტკიცებაю accept

To constitute- დაწესება, დაარსება.

To strike off- საქმის წარმოების შეჩერება, სიიდან ამოშლა. To remove a company from the
central register of the companies.

Asset- ქონება

Expansion- განვითარება, გაფართოება.

Default- კანონის მოთხოვნის/ მოვალეობის შეუსრულებლობა

Unanimously- ერთხმად.
To wind up- ლიკვიდირება- to liquidate- formally close a company.

Solvent- გადახდისუნარიანი.

Solvency- გადახდისუნარიანობა,

Practitioner- პრაქტიკოსი იურისტი.

Receivership- პირის სტატუსი, რომელის სასამართლოს მიერ დანიშნულია

გაკოტრებული პირის ქონების განმკარგველად. when a creditor, whose debt is securewd by
a charge over the company’s assets, appoints a receiver, who can sell the assets subject to the
charge and use the money to repay the creditor.

A receiver- a person who must take control of a company’s assets and try to recover enough
money to pay back a particular secured creditor.

Security- a huarantee that you will pay back someone the money that you owe to them.

A charge- type of security. An example of a fixed charge is a mortgage.a fixed charge is attached
to a particular asset and gives the chargeholder the right to take that asset if the borrower
doesn’t pay the money that he/she owes.

To realise assets- sell assets- რეალიზაცია.

To vary- to change, to alter

Massive- extremely big

Compulsory liquidation- when a creditor presents a winding-up petition to the court, on the
grounds that the company can not pay its debtsm and the court makes an orger for the company
to be wound up. The official receiver becomes the liquidator of the company.

Debt is due- it’s time to pay it

Administrator- a person who has the power to run a company which is in administration.
He/she must be a qualified insolvency practitioner.

Manage a company- run a company

A going concern- a business that is actively trading.

Debt- amount of money you owe to someone

Proceeds of sale- the money that you get from selling something,

Grounds- reasons

Unsecured creditor- an individual or a company that lends money without obtaining specified
assets as security.
Record- ოქმი

Proposed transaction

Classed- regarded as belonging to a particular group

Good faith- კეთილსინდისიერება

Convene- მოწვევა, გამოძახება, შეკრება

improperly- არასწორად, შეუფერებლად

fidicuary -რწმუნებული, ნდობაზე დამყარებული

unanimously -ერთხმად

to adjourn- 1. გადავადება/ გადადება 2. შესვენების გამოცხადება/ შეჩერება

to adjourn the court/ the trial- სასამართლო სხდომის/ პროცესის გადადება.

to abide- 1. შესრულება, დაცვა (მოთხოვნების) 2. დამორჩილება

Winding-up order- an order made by a court for a company to be closed

Members’ voluntary liquidation- when the shareholders of a company decide to close the
company and there are enough assets to pay all the debts of the company

Administration order- an order made by a court that gives a company some time to try to
resolve its financial difficulties or sell its assets in order to pay its creditors

Motion- a proposal which is being discussed at a meeting, შუამდგომლობა

Minutes of a meeting- which provide the details of what happened at that meeting

Proceeds of sale of something- the money that you get when you sell that thing.

Quorum- the number (such as a majority) of members of a body that when duly assembled is
legally competent to transact business.

Poll- voting by way of written vote

Shadow director- the persons who tells everyone what to do but has not been appointed as a
director.

Acquisition- purchase of a company, formal word of a”takeover”

Exclusive directors- directors who are closely involved in the decision-making of a company.

Commissions- charges/ payments

Non-disclosure- legally enforceable contract that establishes confidentiality between two parties

Disclose- tell

Term- duration, ხანგრძლივობა

Expiration- ვადის გასვლა, end

Confidential- secret, personal

Freelance- self-employed

Termination- end, შეწყვეტა

Perishable goods-goods like meat, fish, milk. Which are impossible to use or sell after a certain
time, because they expire and become dangerous to eat.

Merchandise goods- goods that the public can buy from shops. Consumer goods.

Warehouse- a large building where a business keeps goods for a period of time bfore it sells
them

Budget- specific amount of money which is available to be spent on particular thing/

Store the goods-keep goods in a particular place where it can be safe until your are ready to sell
them.

Pay for something in Instalments-to pay for something in several regular payments over a period
of time.

Serial number- number to help identifying the goods.

Material breach-a very serious breach

Minor breach- not too important breach

Cease trading- to stop operating as a busuness

Assignor-a person who assigns his/her IP rights(e.x songwriter). The person/ company who buys
the rights is the assignee

Infringe- to break (the law, rights). Infringement of the rights.

Assign- to transfer ownership

Grant a licence- give permission to do something.

In the Public domain- public can easily find something, because it is on the internet or copies of
it exist.

(free of any) Encumbrance- the right that some third party has in the intellectual property.

A warranty- a guarantee that one party gives to the other. A statement of a fact.
An indemnity- a promise that one party makes to the other.

Compensate- to pay someone money so that they do not suffer the effects of a loss.

Take out- buy something, especially insurance

Policy- insurance documentunforeseeable- could not be imagined in advance.

Excused from fulfilling a contractual obligation- a party is free of the obligation

Supervening (event)- unexpected event.

Act of god- force majeures which are not connected to human activity. Fire, hurricane and e.t.c

A strike- a situation where many people stop working, usually because they have a dispute with
their employer.

To rely on a clause- to use or depend on that particular contract clause.

Clause- term

Precaution- a measure taken in advance to prevent something dangerous, unpleasant, or

inconvenient from happening.

Trading- the action or activity of buying and selling goods and services.

Commit a breach of contract- not fulfiling obligations under that contract.

Compulsory liquidation- when a creditor presents a winding-up petition to the court, on the
grounds that the company can not pay its debtsm and the court makes an orger for the company
to be wound up. The official receiver becomes the liquidator of the company.

Retains- take back

Pitfalls- problems that are likely to happen when you are taking part in a particular activity.

Express;y- clearly and unmistakably stated. In a contractual situation, it usually means written
as opposed to spoken.

Notwhithstanding- in spite of, nevertheless, although

rival- მოწინავე

licensee- a person who has permission to use intellectual propertu, even though he/she is not
the owner

whatsoever- at all 

defematory- the act of communicating false statements about a person that injure the reputation
of that person
negotiate- შეთანხმება

ceases- stops

suspend- to stop doing a particular activity for a period of time with the intention that you migh
ot might not start the activity again later on.

Receipt of- receiving

Verb/ noun
Disturb/ disturbance

Admit/ admission

Amend/ amendment

Dismiss/dismissal

Respond/ response

Abate/ abatement

Distinguish/ distinction

Lose/ loss