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Lesson WORDS TO LEARN abide by agreement assurance cancellation determine engage establish obligate provision resolve specific Contracts Study the following definitions and examples. 1. 10. 11. 12. abide by v., to comply with; to conform a. The two parties agreed to abide by the judge’s decision. b. For years he has abided by a commitment ta annual employee raises. agreement n., a mutual arrangement, a contract a. The landlord 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. assurance n., 4 guarantee; confidence a. The sales associate gave his assurance that the missing keyboard would be replaced tha next day. b. Her self-assurance made it easy ta see why she was in charge of the negotiations. cancellation n., annulment; stopping a. The cancellation of her flight caused har problems {or the rest of the week. b. The cancellation clause appears at the back of the contract. determine v., to find out; to influence a. After reading the contract, | was still unable to determine if our company was liable for back wages. b. The skill of the unian bargainers will determine whether the automotive plant will open next weak. engage v., participate; involve a. Before engaging in a new business, it is important to do thorough research. b. He engaged us in a fascinating discussion about current business law. 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 af the two companies established a powerful new corporation. 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 | could have exercised my option to quit. Party n., a person or group participating in an action or pian; the persons or sides concerned in a legal matter a. The parties agreed to a settlement in their contract dispute. b. The party that prepares the contract has a distinct advantage. provision n., a measure taken beforehand; a stipulation a. The father made provisions for his children through his will. b. The contract contains a provision to deal with how payments are made if John loses his job. resoive v., to deal with successfully; to declare; n., conviction a. The mediator was able to resolve the problem to everyone's satisfaction. b. The businessman resolved to clean out all the files by the end of the week. Specific adj., particular a. The custamer's specific complaint was not addressed in his e-mail. b. In acontract, 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 agreement determine obligates assurance engaging parties Contracts are an integral part of the workplace. In simple terms, terms and contracts are an (1) between two or more (2) that (3) @)_______ the parties to follow them. Contracts often include the amount that a client will pay contractors and what services will be provided. For example, in your office, 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) tract often states ways to (7) delivered is acceptable. Well-written (8) ways to (9) if quality of work problems like these when they happen. Before (10) _ 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) party fails to meet the terms. 4 600 ESSENTIAL WORDS FOR THE TOEIC TEST WORD PRACTICE LISTENING COMPREHENSION (co Track 1 | | Part 1 Photo Look at the picture and listen to the sentences. Choose the sentence that best describes the picture. 1.@®@®OO Part 2 Questlon—Response Listen to the question and the three responses. Choose ihe response that best answers the question. 28 @ © 3 ®8®© Part 3 Conversation Listen to the dialogue. Then read each question and choose the best answer. 4. What problem do ihe speakers have with the 6. What does the woman suggest doing? computer company? (A) Asking the company to write a new contract. (A) It won't renew the contract. (B) Canceling the contract. (B) It can't repair the computer. (C) Renewing the contract. (C) lt sends incorrect bills. (D) Waiting until the contract runs out. (D) It charges them for extra spare parts. 5. When will the contract run out? (A) In two months. (B) In nine months. (C) In one year. (D) In four years. Part 4 Talk Listen to the talk. Then read each question and choose the best answer. 7. Wha is talking? 9. When can the parties sign the contract? (A) A lawyer. (A) In two days. (B) An upset signer of the contract. (B) At the end of the week. ({C} A secretary. (C) Next week. (DB) Someone who has canceled his agreement. (D) In thirty days. 8. Which part of the contract are they looking at? (A) A cancellation clause. (B) The assurance of quality. (G} The agreement on payment. (D) A provision in case of bankruptcy. LESSON 1: CONTRACTS 5 READING Part 5 Incomplete Sentences Choose the word that best completes the sentence. 10. The two sides were no closer to a final at 13. | don’t feel any to give my boss more than Midnight than they were at noon. two weeks notice when | leave. (A) agreement (C) agree (A) oblige (C) obliged (B) agreeable (D) agreed (B} obligatory (D) obligation 11. Our union representative members that 14. The far terminating the contract were not our rights would be defended. discussed. (A) assured (C)} assuredly (A) provide (C) provider (B) assurance (D) assure (B) provisions ({D) provisioning 12. If you your reservation 48 hours in 15. The contract calls for the union to ___ who their advance, you will not be billed. bargaining representative will be. (A) will cancel (C) cancellation {A) specific (C) specifying (B) cancel (D) canceled {B) specification (D) specify Part 6 Text Completion Choose the word or phrase that best completes the sentence, Rental Property for Everyone More and more people are investing in rental property these days. Whether you have a small apartment in your house to rent, or decide to invest in an apartment or office building, rental property can provide extra income for you and your family. What does every landlord need to know? Leases Alease is an __16 _ between a landlord and a tenant. Standard leases are available at most office supply stores, and many property owners find them quite satistactory. Read the standard lease carefully to determine if it meets the needs of your situation. You may want to make some additional __17__. You may want to add a pat clause, for exam- ple, or make different specifications pertaining to the security deposit. If you decide to make changes to the standard lease, you should meet with a lawyer. The lease is the most important tool you have if you need to resolve a dispute with your tenant. When you have a lease written by a lawyer, you__18 _ that you have the protection you need. 16. (A) agree 18. (A) assure (B) agreed (B) will assure (C) agreeable (C) are assuring (D) agreement (D) are assured 17. (A) provision (B) provisions (G) provider (D) providers 
