2. No. There are various regulatory schemes which control how commerce is conducted. Privacy laws， safety laws （ e.g. the Occupational Safety and Health Act in the United States） ， and food and drug laws are some examples.
3. This power over commerce might， depending on the definition of that seemingly nontechnical word， include the power to promote the economic welfare of the citizens throughout the country.
4. The Supreme Court today interprets the commerce clause as a complete grant of power. The Tenth Am endment is no longer viewed as a reservation of certain subjects for state regulation. Oncethejustices began to define thecommercepower as an independentgrant of power rather than in terms of the Tenth Amendm ent， the production-commerce and direct-indirect distinctions soon passed away.
5. In the interest of uniformity and reform， the legal profession， under the leadership of the American Law Institute， has suggested comprehensive codes of laws to be adopted by the states. The most important of thesefor business is the UniformComm ercial Code.
6. The UCC consists of 10 articles. They are General Provisions， Sales， Commercial Paper， Bank Deposits and Collections， Letters of Credit， Bulk Transfers， Documents of Title， Investment Securities， Secured Transactions and Effective Date and Repealer.
II. Phrase translation from Chinese into English.
1. UniformCom mercial Code 2. National Conference of Commissioners
3. Tenth Am endment4. Supreme Court
5. General Provisions6. commercial paper
7. letters of credit8. documents of title
III. Fill in the blanks with the words and expressions in the box.
（ 1） exponentially （ 2） apparent （ 3） commercial
（ 4） domestic（ 5） majority（ 6） standardization IV. Paragraph translation from English into Chinese.
鉴于统一性和创新的原因，法学界在美国法律研究所的领导下，提出了将各州适用法律综合成法典的建议。其中最重要的商业例子就是《统一商法典》。与其他已综合的统一法相比，如《合伙关系统一法》、《公司统一法》、《遗嘱要件统一法》，《统一商法典》是其中最值得炫耀的。
V. Paragraph translation from Chinese into English.
1.ommercial law （ sometimes known as business law） is the body of law that governs business and commercial transactions. It is often considered to be a branch of civil law and deals with issues of both private law and public law.
2. Commercial law includes within its compass such titles as principal and agent； carriage by land and sea； merchant shipping； guarantee； marine， fire， life， and accident insurance； bills of exchange and partnership. It can also be understood to regulate corporate contracts， hiring practices， and the manufacture and sales of consumer goods.
VI. Oral work.
Omitted.
Lesson11
I. Reading comprehension.
1.t includes both Federal and state level regulation by purely governmental regulatory agencies， most notably the Federal level United States Securities and Exchange Commission （ SEC） .
2. Thereare eight principal United States federal statutes in the area of securities regulation. They are the Securities Act of 1933， the Securities Exchange Act of 1934， the Public Utility Holding Com pany Act of 1935， the Trust Indenture Act of 1939， the Investment Company Act of 1940， the Investm ent Advisers Act of 1940， the Securities Investor Protection Act of 1970 and theSarbanes-Oxley Act of 2002.
3. State laws governing issuance and trading of securities are commonly referred to as blue sky laws.
4. Congress passed the Securities Exchange Act in 1934， which regulates the secondary market （ general-public） trading of securities.
5. The U.S. Securities and Exchange Commission （ commonly known as the SEC） is an independent agency of the United States government which holds primary responsibility for enforcing thefederal securities laws and regulating thesecurities industry， thenation s stock and options exchanges， and other electronic securities markets.
6. The SEC makes reports available to the public via the EDGAR system. The SEC also offers publications on investment-related topics for public education. The same online system also takes tips and complaints frominvestors to help theSEC track down violators of the securities laws.
II. Phrase translation from Chinese into English.
1. New York Stock Exchange （ NY SE）
2. Securities Exchange Act
3. Securities and Exchange Commission （ SEC）
4. Trust Indenture Act
5. National Association of Securities Dealers （ NASD）
6. Quasi-governmental
7. self-regulatory organizations （ SRO s）
8. blue sky law
III. Fill in the blanks with the words and expressions in the box.
（ 1） securities （ 2） purchase （ 3） regional （ 4） agents
（ 5） interests（ 6） function（ 7） continuity（ 8） dispose
IV. Paragraph translation from English into Chinese.
国会给予的执法权允许美国证券交易委员会进行民事执法，包括对被指控犯有审计欺诈、提供虚假信息、涉入内幕交易等违反证券法的行为的个人或组织。美国证券交易委员会还与刑事执法机构一起起诉实施了刑事犯罪的个人和组织。
V. Paragraph translation from Chinese into English.
Securities regulation in the United States is the field of U.S. law that covers various aspects of transactions and other dealings with securities. It includes both Federal and state level regulation by purely governmental regulatory agencies， most notably the Federal level United States Securities and Exchange Commission （ SEC） . A significant influenceis exerted by the availability of private rights of action under both state and federal securities laws， as well as moregeneralized laws covering fraud.
VI. Oral work.
Omitted.
Lesson12
I. Reading comprehension.
1.will or testament is a legal declaration by which a person， the testator， names one or more persons to manage his estate and provides for the transfer of his property at death.
2. If this is not observed， any text following the signature will beignored， or theentire will may be invalidated if what comes after the signature is so material that ignoring it would defeat the testator s intentions.
3. The inheritance will occur under the laws of intestacy as if a will were never drafted.
4. No.
