Machine translations

Transcript:

Hello!

We live in exciting times where we can find excellent machine translators on the web that can translate huge (enorme) amounts of texts for us in a very short time and are doing quite a good job.

Although we are at a much better point than: “The Italian fan club was ready for the last match of the World Cup” to “La clava di ventilatore italiano era pronto per l’ultimo fiammifero della tazza di mondo”, it would be wise to have your machine translations checked by professionals if you want accuracy.

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Legal Timelines

Transcript:

Hello!
In law precision in terminology is vital to prevent misinterpretations. Today we look some frequently used legal terms relating to time constraints (restrizioni temporali).

Statute of Limitations (prescrizione):

• Statute of Limitations is a law which establishes the maximum time frame (periodo di tempo) within which a legal action can be initiated for a specific type of case. After this period old claims (rivendicazioni/cause) cannot be brought.

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Liens

Transcript:

Hello!

Today we look at liens. A lien (pegno/vincolo) is a legal right that grants one party the authority to retain (trattenere) or sell specific property until a debt is settled (saldato). It serves as a guarantee or security interest for the party owed money (a cui è dovuto il denaro), ensuring (garantendo) they have a lawful means to recover what they are owed.

In the UK there are two primary categories of liens:

Possessory Lien: This type enables a creditor to keep possession of a debtor’s property until the debt is paid. For example, an auto repair shop can retain a vehicle until repair costs are covered. Continua a leggere →

Test your Legal English

Transcript:

Hello!
Today we have a Legal English multiple choice test to check your knowledge of some essential legal English terms. Verify your answers after you have done the test in the key that follows. Please remember to do this only AFTER you have done the test!

1. Which is correct?
A. He is a party in the contract
B. He is a party of the contract
C. He is a party to the contract
D. He is a party with the contract
E. Both A and B

2. I signed a contract. The other person who also signed the same contract is called:
A. My counterpart
B. My counterparty
C. The culprit
D. The other person

3. When a provision of a contract has no legal effect and should be treated as not existing, we call this provision:
A. Null
B. Void
C. Null and void
D. Empty
E. All of the above are correct (A to D)
F. Both A and B
G. A, or B, or C are all correct
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Appurtenant vs In gross

Transcript:

In Peter’s Pills 42 (“Easement vs Profit à prendre“) we discovered that in the common law system an easement is the right to use someone’s land (e.g., right of way), while a profit à prendre is the right to take something away from someone’s land (e.g., wood; grass etc) . Today we see how these two can be either appurtenant (appartenenti) or in gross (in proprio).

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Building societies and Banks

Transcript:

Hello!

What is a building society? If you think that a building society is a company that builds buildings, then this Peter’s Pill is for you.

Banks (banche) and Building societies (Casse di risparmio) are different types of financial institutions that help people and businesses with their money.

Banks are owned by (sono di proprietà di) people who invest money to make profits. They offer many services like current accounts (conti correnti) and savings accounts, loans (prestiti), mortgages (mutui), and ways to invest money. Banks can be big and have branches (filiali) all over the country or even in other countries. The government makes sure (si assicura che) banks follow rules to protect customers and the economy.

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Valid, void and voidable contracts

Transcript:

Hello!

Today we look at valid, void and voidable contracts.

Valid Contracts: A valid contract is a legally binding agreement that meets all the necessary requirements. It must have an offer, acceptance, consideration, intention to create legal relations, and free consent – these are the essential elements of a contract. A valid contract can be enforced through legal remedies if either party fails to fulfil their obligations.

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Rescission

Transcript:

Hello!

Today we look at the meaning of rescission in the common law system. Please be careful. The meaning of rescission may be very different form the meaning in a civil law context.

Rescission is not the same thing as cancellation. Rescission is the undoing of a contract from its beginning. “Rescission of contract” refers to the legal process of undoing (disfacimento) or cancelling a contract as if it never existed, thereby restoring (riportando in questo modo) the parties to their original positions before they entered into the agreement.

The effect of rescission is to restore the parties to their original positions before the contract was formed. This involves returning any consideration (corrispettivo), such as money or property, exchanged between the parties. It may also involve returning goods (merci) or canceling any obligations created by the contract. If this is not possible, then rescission is not the right legal remedy to pursue (intraprendere). Continua a leggere →

Golden expressions

Transcript:

Hello!

Today we look at a few common business and legal expressions that contain the adjective “golden”. When we use “golden” it gives the idea that something is fortunate, favourable, prosperous, or abundant. For example

Golden handshake: This is generous financial compensation or a severance package (accordo di liquidazione) that is given to a senior executive (dirigente) or employee upon their departure from the company.

Golden parachute: It is a financial arrangement that guarantees substantial benefits or compensation to top executives in the event of a takeover (acquisizione) or merger (fusione), often including stock options (opzioni azionarie) and other perks (vantaggi).

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Pre-emption right vs Right of first refusal

Transcript:

Hello!

Today we look at the difference between a Pre-emption right and a Right of first refusal.

Pre-emption Right: A pre-emption right is also known as a “right of first offer”. With reference to shares, this right may be found in the articles of association and grants existing shareholders the first opportunity to purchase new shares in a company before they are offered to third parties. This is generally to prevent the dilution of their shares in the company. New shares must be offered to existing shareholders in proportion to their existing holdings. If these shareholders decline to buy the shares, then the new shares may be offered to outside parties. Continua a leggere →

What do we mean by “agent” of a company?

Transcript:

Hello!

What exactly do we mean when we say that someone is an “agent” of a company?

An agent is a person or entity appointed by a company to act on its behalf (agire in nome e per conto) in business transactions. A company can appoint (nominare ) a director, employee, or a third-party as its agent.

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Voting at a meeting

Transcript:

Hello!

Today we look at the two main methods for collecting votes at company meetings, namely, a show of hands and a poll, as well as some associated words. Continua a leggere →

Contracts vs Deeds

Transcript:

Hello!

Today we look at the differences between contracts and deeds. These legal documents differ in several essential aspects, including their legal requirements, purpose, and form.

A contract is a legally binding agreement between two or more parties, where each party agrees to perform specific duties or provide benefits to the other parties. Generally, contracts do not require any formalities, and they can be written, oral or by conduct, but the last two will be harder to prove (più difficile da provare).

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Executive and Non-Executive Directors

Transcript:

Hello!

In Common Law countries, a company’s board of directors is typically made up of both executive and non-executive directors. While both types of directors have important roles to play in the company’s governance, there are some key differences between the two.

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Transfer of shares vs transmission of shares

Transcript:

Hello!

Today today we look at the difference between the transfer of shares and the transmission of shares.

Transfer of shares refers to the process of voluntarily transferring ownership of shares from one person to another. This typically occurs when an individual sells their shares to another person, or when they give them as a gift. The transfer process requires both the transferor (cedente) and the transferee (cessionario) to sign a share transfer form, which is then submitted to the company for registration. Once the transfer is registered, the new owner is listed as the shareholder and is entitled to all the rights associated with ownership, such as voting rights, dividends, and capital gains (plusvalenze).

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