a good discharge

Russian translation: произвести зачет в отношении

06:49 Jul 21, 2004
English to Russian translations [PRO]
Bus/Financial - Economics / budgeting
English term or phrase: a good discharge
Company Charter:
"Where the apportionment is being made, on payment of the said price, the selling shareholoder shall transfer the shares to the shareholders who have agreed to purchase the shares and, in default thereof, the Board may receive and give a good discharge for the purchase money on behalf of the party desiring to sell and enter the name of the purchasers in the share register..."
What does "in default thereof" refer to? What is a good discharge? What is the point?
Julia Vaynzo (X)
Local time: 21:04
Russian translation:произвести зачет в отношении
Explanation:
а в случае неосуществления такой покупки, Совет директоров вправе получить покупную стоимость и осуществить в отношении ее надлежащий зачет от имени стороны, намеревающейся продать акции... - приблизительно так...
Selected response from:

Alexander Kolegov
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thank you.
2 KudoZ points were awarded for this answer



Summary of answers provided
3произвести зачет в отношении
Alexander Kolegov
3>>>
TranslatonatoR


Discussion entries: 2





  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
>>>


Explanation:
1) "in default thereof": means that "if the selling shareholder does not transfer( fails to transfer) the shares to purchasing shareholders.

2) "A good discharge": means "документ об уплате долга"--the word "good" just means "dischargeable" --->>> there are three kinds of discharges:


a)dischargeable
b)possibly dischargeable
c)not dischargeable

http://www.moranlaw.net/7discharge.htm

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Note added at 1 hr 51 mins (2004-07-21 08:40:16 GMT)
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\"\"\"Let say you are selling shares through a Company and I am buying them. For some reason you fail to give me the shares, even though I payed. In this case the Company will be authorized to discharge my payment, and give me the shares\"\"\"

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Note added at 1 hr 51 mins (2004-07-21 08:41:00 GMT)
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paid...its paid...paid


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Note added at 10 hrs 45 mins (2004-07-21 17:34:57 GMT)
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-освобождение от выполнения обязательств
-освобождение от ответственности

TranslatonatoR
Local time: 16:04
Native speaker of: Native in RussianRussian
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13 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
произвести зачет в отношении


Explanation:
а в случае неосуществления такой покупки, Совет директоров вправе получить покупную стоимость и осуществить в отношении ее надлежащий зачет от имени стороны, намеревающейся продать акции... - приблизительно так...

Alexander Kolegov
PRO pts in category: 2
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