Lesson Contracts ‘Study the following definitions and examples. 1. abide by v., to comply with; to conform ‘a. The two parties agreed to abide by the judge's decision. ._ For years he has abided by a commitment to annual employee raises. \greement n., a mutual arrangement, a contract ‘a. The landiord and tenant were in agreement that the rent should be prorated to the middle of the month. 'b. According to the agreement, the caterer will also supply the flowers for the event. 3, assurance n., a guarantee; confidence fa. The sales associate gave his assurance that the missing keyboard would be replaced the next day. b. Her self-assurance made it easy to see why she was in charge of the negotiations. 4. cancellation n., annulment; stopping a. The cancellation of her flight caused her problems for the rest of the week. ._ The cancellation clause appears at the back of the contract. 5. determine v., to find out; to influence ‘a. After reading the contract, | was stil unable to determine if our company was liable for back wages. b. The skill of the union bargainers will determine whether the automotive plant will open next week. 6. engage v., participate; involve 1a. Before engaging in a new business, itis important to do thorough research, b. He engaged us in a fascinating discussion about current business law. 7. establish v., to institute permanently; to bring about ‘a. Through her many books and interviews, Dr. Wan established herself as. an authority on conflict resolution. b. The merger of the two companies established a powerful new ‘corporation 8. obligate v,, to bind legally or morally ‘a. The contractor was obligated by the contract to work 40 hours a week. 'b. felt obligated to finish the project even though I could have exercised my option to quit. 9. party n., a person or group participating in an action or plan; the persons or sides concerned in a legal matter ‘a. The parties agreed to a settlement in their contract dispute. The party that prepares the contract has a distinct advantage. 10. provision n., a measure taken beforehand: a stipulation a. The father made provisions for his children through his wil The contract contains a provision to deal with how payments are made it John loses his job. 11. resolve v., to deal with successfully; to declare; n., conviction ‘a. The mediator was able to resolve the problem to everyone's satistaction. The businessman resolved to clean out all the files by the end of the week. 12. specific adj, particular ‘a. The customer's specific complaint was not addressed in his e-mail. Ina contract, one specific word can change the meaning dramatically,2 600 ESSENTIAL WORDS FOR THE TOEIC TEST WORDS IN CONTEXT Read the following passage and write the words in the blanks below. abide by cancel establishment provide agreement determine obligates resolve assurance engaging parties specifies Contracts are an integral part of the workplace. In simple terms, contracts are an (1) between two or more 2 that (8) terms. and @ the parties to follow them. Contracts often include the amount that a client wil pay contractors and what services willbe provided. For example, in your ofce, you may have a contract that provides (5) that your copier machine or ‘phones will be repaired within a certain amount of time. This service ‘can either be done off-site or at your (6) ‘con tract often states ways to (7) it quality of work delivered is acceptable, Wellwritten contracts usually (@)___waysto(@)__ problems like these when they happen. Before (10) in acon tract, both parties should think carefully, as they will have to (11) the conditions specified in it. A contract usually ‘specifies how the two parties can (12) itit either party fails to meet the terms.LESSON 1: CONTRACTS 3 WORD FAMILIES agree It both parties agree to the terms, we can finalize the contract. agreement ‘As soon as the labor agreement was signed, the factory resumed production of new cars and vans. ‘agreeable ‘The parties are agreeable to the terms. assure | assure you that our drug-testing policy is applied fairy. assurance ‘What assurance is there that the company will stil be in business? assuredly He spoke assuredly, but his follow-up memo showed less conviction. cancel ‘The man canceled his magazine subscription and got his money back. cancellation | Writers usually receive a cancellation fee even If ther articles are not published. canceled ‘The canceled concert ended up costing our agency milions, obligate ‘The terms of the contracts obligate us to work for at least one more month. obligation ‘The factory managers have a legal and moral obligation to provide a safe work site. obligatory He finished his obligatory military service, and then joined his father on the range farm. provide ‘Since the machine is very reliable, why don't we cancel the service contract they provided? provider ‘We must negotiate a new contract with our Internet service provider provision ‘The provision for canceling the contract is in the last clause. specily ‘The contract specifies the percentage of raise the workers will see next year. specification | The work was done according to our specifications. specific We have not chosen a spexific location for the reunion.4600 ESSENTIAL WORDS FOR THE TOEIC TEST WORD PRACTICE LISTENING COMPREHENSION [4] rt Part Photo Look at the picture and listen to the sentences. Choose the sentence that best describes the picture. 1®@®0©0 Part 2 Question—Response Listen to the question and the three responses. Choose the response that best answers the question. 20880 3@68© Part 3 Conversation Listen to the dialogue. Then read each question and choose the best answer. 4, What problem do the speakers have with the 6. What does the woman suggest doing? ‘computer company? (A) Asking the company to write a new contract. (A) Itwont renew the contract. (8) Canceling the contract. (6) it can't repair the computer. {C) Renewing the contract. (C) It sends incorrect bills. (0) Waiting until the contract runs out (0) It charges them for extra spare parts. 5. When wil the contract run out? (A) In two months. (8) In ine months. (©) In one year. (0) In four years Part 4 Talk Listen to the talk. Then read each question and choose the best answer. 7. Who is taking? 8. When can the parties sign the contract? (A) A lawyer. (A) In two days. (8) An upset signer of the contract. (B) At the end of the week (©) A secretary. (C) Next week (©) Someone who has canceled his agreement. (0) In thity days 8, Which part of the contract are they looking at? (A) A cancellation clause. (B) The assurance of quality. (C) The agreement on payment. (0) A provision in case of bankruptcy.