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Part one: vocabulary

w w Select the best choice

Direction: .

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a. The objectives of the company expressed and defined.
b. The address of the principal office and the location of branch offices.
c. The manner and conditions of increasing and decreasing the capital of the company .
d. Details of the share capital of the company , specifying the amount paid in specie and the
amount paid in kind separately.
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“All transactions of commercial companies”
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a. The joint stock company b. The joint stock partnership

c. The Limited partnership d. The General partnership
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4. Sale of articles necessary to life, either produced by the members or purchased by them.
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5. Liability of shareholders is limited to the number of the shares they hold.

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6. Any alteration to be made in the articles of Articles of Association.

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7. Each meeting of the General Meeting may be adjourned to another day by the votes of majority
of shareholders present in person or by proxy.
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8. To conclude any kind of purchase and sale contracts and participate in any kind of tender and
auction.

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w9.He endorsed and took up commercial guarantees.
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10. The number of share to be deposited with the company by each Director as security shall be
one share.
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11. Winding up and liquidation of the company shall be in compliance with the provision of the
commercial code.
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12.The object of a transaction should not be ambiguous except in special cases where a general
knowledge of the matter would be sufficient.
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13. A documentary credit is a conditional bank undertaking of payment.

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14.Which of the following banks refers to the bank of «) ) -»?

a. Correspondent Bank b. Reimbursing Bank

c. Negotiating Bank d. Nominated Bank
15. Which of the following refers to the “Certificate of Origin”?
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16. A confirmed irrevocable credit is a credit of Issuing Bank Limited advised to the seller
through the medium of the confirming bank.
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17. What is the meaning of “voyage charter charges” in the section of transportation ?
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18.The following conditions are of no effect though they do not nullify the contract itself:
conditions which are impossible, useless and unprofitable, and which are not……………… .
a. genuine b. specific c. unknown d. legal
19. After a contract has been made, the parties may cancel and termiate it by ………agreement.
a. considerable b. obligational c. mutual d. collateral
20. Set – off is an obligatory process, which is effected without the necessity of the two parties
giving their…………………….. .
a. consent b. debt c. contract d. replacement
21. Payment of the author’s fee and number of copies printed in each reprint of the book shall be
subject to the …………..of the present contract.
a. publications b. provisions c. distributions d. interpretations
22. To provide the equipment with a prime coat and partly final coat and suitable …………for
the land, sea , railway transport upon request of the BUYER.
a. attaching b. packing c. presenting d. purchasing
23. All………………granted by the SELLER to the BUYER under this contract shall survive
upon expiration of the term of this contract.
a. requirements b. claims c. obligations `d. rights
24. The Effective Date shall be …………by both parties and the BUYER shall instruct the
opening bank to insert this effective Date in L/C.
a. accepted by authorities b. considered in letters
c. confirmed in writing d. delivered to the bank
25. Duration of force Majeure cases up to six months shall be added to the contractual
……………………time.
a. registered b. scheduled c.observable d. natural


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26. SELLER shall ensure that the assignees and sub-contractors of the SELLER shall
………..with all relevant terms and conditions of the contract.

w w a. comply b. reduce c. perform d. remain

w27. A bill of lading is a document that is usually stipulated in a credit when the goods
are………..…….by sea.
a. shipped b. received c. specified d. dispatched
28. This credit bears our ……..and we engage that document presented for payment in
conformity with terms of this credit will be paid on presentation .
a. instruction b. confirmation c. negotiation d. facilitation
29. The bill of lading must be …………..by a shipping company or its agent unless otherwise
specified in the credit.
a. issued b. declared c. loaded d. involved
30. According to the confirmed irrevocable credit, the advising bank adds its ……………
including its confirmation , before handing the credit on to the seller.
a. document b. notification c. exception d. validity
Part two: translation
Translate the following sentences into Persian.
1.Not restricting the generality of functions referred to hereafter, the Board of Directors acts
exclusively as the representative of the company before all judicial , Governmental, Non –
governmental authorities, real persons and legal entities, whether Iranian or foreigner, save the
cases of taking decisions which fall under the jurisdiction of the General Meetings.

2.Fiscal year: Fiscal year shall begin from First of Farvardin (March 21) and shall terminate at the
end of Month Esfand (March 20 of subsequent year) of the same year. The first fiscal year of the
company shall commence from the date of establishment of the company and shall terminate on
the last day of Esfand of the same year.


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3.The BUYER shall be authorized to disclose to any National Research Laboratory and part of

w w
the Confidential Information related to the equipment received from the SELLER subject to the
wapproval in advance, and to the recipients of such information being bound by the same
obligations of confidentially as the BUYER.

4. Any insurance claims paid under the insurance policy referred to in this Article (...) shall be
applied towards the replacement and repair of any items lost, damaged or destroyed or any
workmen's compensation or comprehensive general liability payment. This Article shall not
affect the ENGINEERS liability under this CONTRACT

5. A bill of lading is a document that is usually stipulated in a credit when . the goods are
dispatched by sea. It is evidence of a contract of carriage.is a receipt for the goods. and is a
document of title to the goods. It also constitutes a document that is , or may be, needed to
support an insurance claim.

Dear Mr Cliff .
6. I have enclosed an order. No, B1662. for seven more 'Sleepcomfy' beds which have proved to
be a popular line here, and will pay for them as usual on invoice, However, I wondered if in
future you would allow me to settle my accounts by monthly statement which would be a more
convenient method of payment for me.
As we have been dealing with one another for some time, I think you have enough confidence
in my firm to allow open account facilities, but of course I can supply the necessary references.