That most closely matches its meaning.

1 passed

2 who have the right to

3 instead

4 on condition

5 cancelled

6 revised

7 given to

Language use: shall and may

8 Read through the text again, noting how shall and may are used.

1 Which of the following words most closely matches the meaning of shall in

each case?

a) will b) should c) must

2 Which of the following words most closely matches the meaning of may in

each case?

a) might b) can c) could

In legal documents, the verb shall is used to indicate obligation, to express a

promise or to make a declaration to which the parties involved are legally

bound. This use differs from that in everyday speech, where it is most often

used to make offers (Shall I open the window?) or to refer to the future

(I shall miss you).

In legal texts, shall usually expresses the meaning of ‘must’ (obligation):

Every notice of the meeting of the shareholders shall state the place, date

and hour.

or ‘will’ (in the sense of a promise):

The board of directors shall have the power to enact bylaws.

Shall can also be used to refer to a future action or state, similar to the

future formed with will in everyday speech:

... until two years shall have expired since such action by vote of such

shareholders.

Another verb commonly found in legal documents is may, which generally

expresses permission, in the sense of ‘can’:

... any bylaw or amendment thereto as adopted by the Board of Directors may

be altered, amended or repealed by a vote of the shareholders.

Speaking: Informal presentation

When speaking briefly about a topic of professional interest, experienced

speakers will organise their thoughts in advance. A simple but effective

structure divides information into three parts:

1 introductory remarks;

2 main points;

3 concluding statement.

Similarly, the main points are best limited to three, as this is easy for the

speaker to remember and for the listener to follow.

Notes for a response to the question below might look like this:

Introductory remarks

A publikt aktiebolag is the closest Swedish equivalent to a public limited company

– most common business form for major international businesses in Sweden.

Main points

1 liability: no personal liability

2 management: board of directors (Swedish equivalent, styrelsen) has power to

make decisions; shareholders don’t participate in management

3 needed for formation: memorandum of association (stiftelseurkund) and

articles of association (bolagsordning)

Concluding statement

An aktiebolag is similar to a public limited company, with the most significant

difference being that its shares do not need to be listed on an exchange or

authorised marketplace.

9 Which types of companies are there in your jurisdiction? Choose one and describe it as you would for a client from another country. In your description, refer to some of the features given in the UK company table. Tell your client which documents must be filed to complete the formation process. Wherever relevant, compare and contrast your company type with a UK