How Sweden's Accounting Financial Statements and Functions Research Paper

How Sweden's Accounting Financial Statements and Functions Differentiate from That of the USA - Research Paper Example It is evidently clear from the discussion that while most nations shifted to the latest version, the United States still favors GAAP and believes that the IFRS has no guidance and comprise several loopholes. It also believes that the adoption of IFRS will lead to chaos and several accounting scandals. Sweden, on the other hand, being a part of the European Union has adopted the IFRS as IAS regulation from the year 2006. Prior to the year 2006, Sweden had been following SFASC (Swedish Financial Accounting Council) Accounting Standards. A lot of changes have been brought about in the financial system throughout the years in Sweden. But with the acceptance of IFRS in Sweden quite a few changes and amendments have been made in order to marginalize with the other nations of the European Union. There have been a lot of differences between the US GAAP and the IFRS. One strong difference between the two is on account of the intangible considerations. According to the GAAP, the acquired intan gible assets are always recognized at fair values. Even the cost allocation is done on individual assets. The intangibles also have a definite life amortized over the period. Few of the examples of such individual assets are research and development, advertising costs; start-up costs and even website developments. Whereas according to the guidelines of IFRS followed by Sweden, the intangibles are recognized only if it has a scope of future economic benefit and has reliability in measuring. Even the initial measurement is done on the cost of the intangible. The mergers and acquisitions i.e. the intangibles are valued at fair cost and the revaluation is also made on a regular basis in order to obtain the actual cost. There is a vast difference between GAAP and IFRS on the basis of revenue. In case of the GAAP, the revenue is recognized on four essential criteria that are persuasive evidence, determinable or fixed pricing, delivery and the assurance of collection whereas in the case of IFRS, the major five criteria are transfer of risk and reward, reliability of measurement, reliability of measurement of the costs incurred or to be incurred, non continuation of management involvement and it also considers the probable economic benefits.

Maslows Hierarchy Of Needs Philosophy Essay

Maslows Hierarchy Of Needs Philosophy Essay Human needs are an important part of human nature. Values, beliefs, and customs differ from country to country and group to group, but all people have similar needs. As a leader you must understand these needs because they are powerful motivators. Abraham Maslow felt that human needs were arranged in a hierarchical order (Maslow, 1954). He based his theory on healthy, creative people who used all their talents, potential, and capabilities. At the time, this methodology differed from most other psychology research studies in that they were based on observing disturbed people. There are two major groups of human needs: basic needs and meta needs. Basic needs are physiological, such as food, water, and sleep; and psychological, such as affection, security, and self-esteem. These basic needs are also called deficiency needs because if they are not met by an individual, then that person will strive to make up the deficiency. The higher needs are called meta needs or being needs (growth needs). These include justice, goodness, beauty, order, unity, etc. Basic needs normally take priority over growth needs. For example, a person who lacks food or water will not normally attend to justice or beauty needs. These needs are listed below in hierarchical order. The basic needs on the bottom of the list (1 to 4) must normally be met before the meta or being needs above them can be met. The four meta needs (5 to 8) can be pursued in any order, depending upon a persons wants or circumstances, as long as the basic needs have all been met. Maslows Hierarchy of Needs 8. Self-transcendence a transegoic (see Note below) level that emphasizes visionary intuition, altruism, and unity consciousness. 7. Self-actualization know exactly who you are, where you are going, and what you want to accomplish. A state of well-being. 6. Aesthetic at peace, more curious about inner workings of all. 5. Cognitive learning for learning alone, contribute knowledge. 4. Esteem feeling of moving up in world, recognition, few doubts about self. 3. Belongingness and love belong to a group, close friends to confide with. 2. Safety feel free from immediate danger. 1. Physiological food, water, shelter, sex. Maslow posited that people want and are forever striving to meet various goals. Because the lower level needs are more immediate and urgent, then they come into play as the source and direction of a persons goal if they are not satisfied,. A need higher in the hierarchy will become a motive of behavior as long as the needs below it have been satisfied. Unsatisfied lower needs will dominate unsatisfied higher needs and must be satisfied before the person can climb up the hierarchy. Knowing where a person is located on this scale aids in determining an effective motivator. For example, motivating a middle-class person (who is in range 4 of the hierarchy) with a certificate will have a far greater impact than using the same motivator to effect a minimum wage person from the ghetto who is desperately struggling to meet the first couple of needs. It should be noted that almost no one stays in one particular hierarchy for an extended period. We constantly strive to move up, while at the same time various forces outside our control try to push us down. Those on top get pushed down for short time periods, i.e., death of a loved-one or an idea that does not work, while those on the bottom get pushed up, i.e., come across a small prize. Our goal as leaders therefor is to help people obtain the skills and knowledge that will push them up the hierarchy on a more permanent basis. People who have their basic needs met become much better workers as they are able to concentrate on fulfilling the visions put forth to them, rather than consistently struggling to make ends meet. Characteristics of self-actualizing people: Have better perceptions of reality and are comfortable with it. Accept themselves and their own natures. Lack of artificiality. They focus on problems outside themselves and are concerned with basic issues and eternal questions. They like privacy and tend to be detached. Rely on their own development and continued growth. Appreciate the basic pleasures of life (e.g., do not take blessings for granted). Have a deep feeling of kinship with others. Are deeply democratic and are not really aware of differences. Have strong ethical and moral standards. Are original, inventive, less constricted and fresher than others Maslows Hierarchy of Needs and Leadership To put Maslows theory into perspective with leadership, a short (less than 3 minutes) audio MP3 file is included: Maslow and leadership. Transegoic Transegoic means a higher, psychic, or spiritual state of development. The trans is related to transcendence, while the ego is based on Freuds work. We go from preEGOic levels to EGOic levels to transEGOic. The EGO in all three terms are used in the Jungian sense of consciousness as opposed to the unconscious. Ego equates with the personality. In Maslows model, the ultimate goal of life is self-actualization, which is almost never fully attained but rather is something to always strive towards. Peak experiences are temporary self-actualizations. Maslow later theorized that this level does not stop, it goes on to self-transcendence, which carries us to the spiritual level, e.g.. Gandhi, Mother Theresa, Dalai Lamao, or even poets, such as Robert Frost. Maslows self-transcendence level recognizes the human need for ethics, creativity, compassion and spirituality. Without this spiritual or transegoic sense, we are simply animals or machines. In addition, just as there are peak experiences for temporary self-actualizations; there are also peak experiences for self-transcendence. These are our spiritual creative moments. While the research of Maslows theory has undergone limited empirical scrutiny, it still remains quite popular due to its simplicity and being the start of the movement that moved us away from a totally behaviorist/reductionistic/mechanistic approach to a more humanistic one. In addition, a lot of concerns is directed at his methodology: Pick a small number of people that he declares self-actualizing; read and talk about them; and come to the conclusion about self-actualization. However, he did completely understood this, and thought of his work as simply a method of pointing the way, rather than being the final say. In addition, he hoped that others would take up the cause and complete what he had begun. Herzbergs Hygiene and Motivational Factors Herzberg developed a list of factors (Herzberg, 1966) that are based on Maslows Hierarchy of Needs, except his version is more closely related to the working environment: HERZBERGS HYGIENE MOTIVATIONAL FACTORS Hygiene or Dissatisfies: Working conditions Policies and administrative practices Salary and Benefits Supervision Status Job security Co-workers Personal life Motivators or Satisfiers: Recognition Achievement Advancement Growth Responsibility Job challenge Hygiene factors must be present in the job before motivators can be used to stimulate that person. That is, you cannot use motivators until all the hygiene factors are met. Herzbergs needs are specifically job related and reflect some of the distinct things that people want from their work as opposed to Maslows Hierarchy of Needs which reflect all the needs in a persons life. Building on this model, Herzberg coined the term job enrichment to describe the process of redesigning work in order to build in motivators. Theory X and Theory Y Douglas McGregor developed a philosophical view of humankind with his Theory X and Theory Y (McGregor, 1957) , which are two opposing perceptions about how people view human behavior at work and organizational life. McGregor felt that companies followed either one or the other approach: Theory X People have an inherent dislike for work and will avoid it whenever possible. People must be coerced, controlled, directed, or threatened with punishment in order to get them to achieve the organizational objectives. People prefer to be directed, do not want responsibility, and have little or no ambition. People seek security above all else. Note that with Theory X assumptions, managements role is to coerce and control employees. Theory Y Work is as natural as play and rest. People will exercise self-direction if they are committed to the objectives (they are NOT lazy). Commitment to objectives is a function of the rewards associated with their achievement. People learn to accept and seek responsibility. Creativity, ingenuity, and imagination are widely distributed among the population. People are capable of using these abilities to solve an organizational problem. People have potential. Note that with Theory Y assumptions, managements role is to develop the potential in employees and help them to release that potential towards common goals. Theory X is the view that traditional management has taken towards the workforce. Many organizations are now taking the enlightened view of theory Y. A boss can be viewed as taking the theory X approach, while a leader takes the theory Y approach. Notice that Maslow, Herzberg, and McGreagors theories all tie together: Herzbergs theory is a micro version of Maslows theory (concentrated in the work place). McGreagors Theory X is based on workers caught in the lower levels (1 to 3) of Maslows theory, while his Theory Y is for workers who have gone above level 3. McGreagors Theory X is based on workers caught in Herbergs Hygiene Dissatisfiers, while Theory Y is based on workers who are in the Motivators or Satisfiers section. Existence/Relatedness/Growth (ERG) Clayton Alderfers Existence/Relatedness/Growth (ERG) Theory of Needs (Alderfer, 1969) postulates that there are three groups of needs: Existence This group of needs is concerned with providing the basic requirements for material existence, such as physiological and safety needs. This need is satisfied by money earned in a job so that one may buy food, shelter, clothing, etc. Relationships This group of needs center upon the desire to establish and maintain interpersonal relationships. Since a people normally spend approximately half of their waking hours on the job, this need is normally satisfied to some degree by their coworkers. Growth These needs are met by personal development. A persons job, career, or profession provides significant satisfaction of growth needs. Alderfers ERG theory states that more than one need may be influential at the same time. If the gratification of a higher-level need is frustrated, the desire to satisfy a lower-level need will increase. He identifies this phenomenon as the frustration shy aggression dimension. Its relevance on the job is that even when the upper-level needs are frustrated, the job still provides for the basic physiological needs upon which one would then be focused. If, at that point, something happens to threaten the job, the persons basic needs are significantly threatened. If there are not factors present to relieve the pressure, the person may become desperate and panicky. Notice that Alderfers ERG theory is built upon Maslows, however it does differ. First he collapsing it from five needs to three. And unlike Maslow, he did not see these needs as being a hierarchy in which one climbs up, but rather being more of a continuum. While there has not been a whole lot of research on Alderfers theory, most contemporary theories do tend to support it. Expectancy Theory Vrooms Expectancy Theory states that an individual will act in a certain way based on the expectation that the act will be followed by a given outcome and on the attractiveness of that outcome to the individual. This motivational model (Vroom, 1964) has been modified by several people, to include Porter and Lawler (Porter et. al., 1968). Vrooms Expectancy Theory is written as a formula: Valence x Expectancy x Instrumentality = Motivation Valence (Reward) = the amount of desire for a goal (What is the reward?) Expectancy (Performance) = the strength of belief that work related effort will result in the completion of the task (How hard will I have to work to reach the goal?) Instrumentality (Belief) = the belief that the reward will be received once the task is completed (Will they notice the effort I put forth?) The product of valence, expectancy, and instrumentality is motivation. It can be thought of as the strength of the drive towards a goal. For example, if an employee wants to move up through the ranks, then promotion has a high valence for that employee. If the employee believes that high performance will result in good reviews, then the employee has a high expectancy. However, if the employee believes the company will not promote from within, then the employee has low instrumentality, and the employee will not be motivated to perform better.

William Butler Yeats The Cap and Bells Essays -- Poetry William Butle

William Butler Yeats' The Cap and Bells William Butler Yeats’s ballad â€Å"The Cap and Bells† depicts the behavior of love through an allegorical account of actions between a jester and a queen. Through the use of many symbolic references, the dramatic characters accurately reflect a lover’s conduct. Referring to jester-like men throughout many of his works (â€Å"A Coat†, â€Å"The Fool by the Roadside†, â€Å"Two Songs of a Fool†, â€Å"The Hour Glass†, etc.), Yeats continually portrays the actions of humans as foolish many a times. Coming to him in a dream, â€Å"The Cap and Bells† likely acquired its origin from the obsessive infatuation Yeats had with Maud Gonne. Being an acclaimed actress, Yeats most likely perceived Gonne exceeding him in status; her the queen and him the fool. At this time (1894) Yeats was also developing Irish dramas, and therefore his mind ignited dramatic thought even within his dreams. Like many of his poems, â€Å"The Cap and Bell s† develops a lyrical tone full of emotion and images. Through this song-like piece, the reader strongly feels both the growing despondency of the jester and the eventual affection in the queen. Through his strong use of symbolism and imagery, Yeats suggests that love makes a fool of every man. From forfeiting the soul, the heart, and finally physical life, Yeats emphasizes mans’ willingness to sacrifice all the elements of his existence to feel the complete and irresistible passions of love. Throughout â€Å"The Cap and Bells† Yeats constantly draws on symbolism to express various elements of love. With the whole poem existing as a subtle allegory, the author encourages a reader to interpret and search for meaning. As Yeats opens with â€Å"The jester walked into the garden† he immediatel... ...elf) and the heart (provider of life). Instead she fell in love when given the physical cap and bells. Though such ballad does not need a large amount of explanation to understand the storyline, the close analysis develops the underlying ideas of human behavior while in love. Yeats all together implies that love has the ability to blind a man from ration. Although a wise old owl may view his actions irrational, the lover only sees the obsessive compulsions love has on him. Yeats thus teaches a reader that love is the strongest emotion of all, for man will do anything to feel reciprocated love. The soul, the heart, and life are the toys of love, and thus throughout â€Å"The Cap and Bells† Yeats depicts the compliance of man to sacrifice his complete being for the sake of the zeal of love. Born a fool, live a fool, and die a fool ... all because we loved another.

Partnership Case Law

PARTNERSHIP CASELAW | | This section of the website provides access to all cases summarised in the Partnership Law Updates which have been issued since January 2000 to date. Therefore this Archive operates as a guide to some of the interesting partnership cases decided in common law jurisdictions in recent years. Special thanks are due to Professor Dick Webb (Emeritus Professor of Law in the University of Auckland) for alerting me to many developments contained in this section and to Dr Keith Fletcher of the University of Queensland. PARTNERSHIP LAW CASESJanurary 2000_______________________Partnership by Holding outPlaintiffs instructed first-named defendant as their solicitor – Plaintiffs’ funds dissipated by the first-named defendant – First-named defendant’s wife also worked as a solicitor in the practice – Plaintiffs instructed the defendant as a result of their friendship with his wife – Husband and wife conducted themselves as partners in everything they did socially – Whether wife was a partner in the practice – Whether wife was liable as a partner by holding outPalter v Zeller and Lieberman (1997) 30 OR (3d) 796.In this case, the Court of Justice of Ontario considered both the allegation of a partnership between the two defendants, and the allegation that the second-named defendant had held herself out to be a partner with the first-named defendant. The first-named defendant, Zeller, had set up in practice as a lawyer and after his marriage to the second-named defendant, Lieberman, she joined him in practice. This fact was advertised by an announcement which was published by Zeller to the effect that Lieberman had â€Å"joined me in the practice of law†.There was no indication given in the firm’s stationery or business cards that they were partners in this practice. The plaintiffs had been friendly with Lieberman before she met Zeller and arising out of this friendship they instructed Zeller on a number of occasions. After Lieberman joined the practice, the plaintiffs entrusted their savings to Zeller and signed blank documents in connection with the use of the funds.When Zeller dissipated this money, the plaintiffs sought to make Lieberman jointly liable with Zeller for the loss on the grounds that either she was Zeller’s partner or that she had allowed herself to be held out as his partner under the Ontario equivalent of s 14(1) of he Partnership Act 1890. The plaintiffs’ sought to support their claim that the husband and wife were partners as a matter of law by the fact that the plaintiffs had a social relationship with both defendants and it was clear from this relationship that the defendants were partners in everything they did, in the sense that they treated each other as equals.In the work context, the plaintiffs claimed that the defendants were equals since they looked totally equal at work, having equal-sized offices. Wilkins J rejected t his claim out of hand since he could found not even a scintilla of evidence to support a finding of a partnership between the defendants. He noted that, although the plaintiffs presumed that the defendants were partners, the mere fact that lawyers may be married and behave in an equal social and marital relationship has no impact upon the question of whether they are partners as a matter of law.He held that what is important to this issue is how they conduct their business affairs together, not how they conduct their personal affairs. The plaintiffs’ second claim was that even if Lieberman was not a partner as a matter of law, she allowed herself to be held out as a partner in the firm and therefore should be liable under the Ontario equivalent of s 14(1) of the Partnership Act 1890 since the plaintiffs had relied on this fact. Again the plaintiffs supported their claim of a holding out by the fact that the defendants treated each other as equals in everything they did.The pl aintiffs alleged that they had relied on this holding out of partnership by virtue of the fact that they would not have entrusted all of their savings to Zeller and signed blank documents for him, were it not for his relationship with Lieberman, since this relationship gave Zeller a credibility in their eyes. Again, Wilkins J rejected this claim, finding that the plaintiffs belief that the defendants were partners was ill-founded since the defendant’s social activities was not sufficient to constitute a holding out by Lieberman of herself as a partner.He concluded that since Lieberman was Zeller’s employee as a matter of law and was also not liable as a partner by holding out, the case should proceeded against Zeller alone. _________________________Sharing of Profits by PartnersPartnership agreement – presumption of equality of sharing of profits – s 24 of the Partnership Act 1890 – attempt to vary this ratio without the express consent of all the partners. Joyce v Morrissey [1998] TLR 707.In this case, the English Court of Appeal considered a dispute between the four members of the rock band, The Smiths, regarding the sharing of the band’s profits. Since their inception, the four band members had carried on business as a partnership. In the High Court, it had been held that Joyce, the drummer in the band, was entitled to a quarter share of the profits since under s 24 of the Partnership Act 1890, partners are entitled to an equal share of the profits of the partnership, in the absence of any contrary agreement.The lead singer (Morrissey) and the lead guitarist (Johnny Marr) appealed the High Court decision on the basis that they were the prime movers behind the band and alleged that it had been understood that they would be entitled to 40% of the profits each, with 10% going to the drummer and bass guitarist. They supported their claim by the fact that the group’s accountants, Ossie Kilkenny & Co, had sent acco unts to Joyce showing this split of 40/40/10/10, yet Joyce had made no objection at that time.In the Court of Appeal, Waller LJ (Gibson and Thorpe LJJ, concurring) upheld the High Court’s decision that s 24(1) of the Partnership Act 1890 applied to the facts of the case and consequently that the four band-members were entitled to an equal share of the profits. He held that any change in this profit-sharing ratio could not be achieved by simply sending partnership accounts to one partner and assuming that his silence constituted his acceptance of the new terms.This was particularly so where, as in this case, the partner might not be expected to understand the accounts without some explanation. Waller LJ observed that Morrissey undoubtedly felt that because of the more major contribution which he and Johnnie Marr were making to the band, he ought to be able to dictate the terms on which the partnership continued. With considerable understatement, Waller LJ noted that Morrissey might not have appreciated certain fundamentals of partnership law. ________PARTNERSHIP LAW UPDATEMarch 2000___________________Expulsion of a PartnerExpulsion of two partners from a solicitors’ firm – One resolution passed at a partners’ meeting to expel both partners – Partner to be expelled not entitled to be present at meeting under terms of partnership agreement – Whether partner to be expelled entitled to notice of meeting – Whether two meetings or two resolutions required where there was an expulsion of two partners – Interpretation of the terms of a partnership agreement – Hanlon v Brookes (1997) 15 Australian Company Law Cases 1626.In this case, the Victorian Court of Appeal (Ormiston, Callaway and Batt, JJ) considered the expulsion of two partners from a law firm. Under the terms of the written partnership agreement, a special resolution (ie 75% of the votes) was sufficient to expel a partner and the partnership agreem ent contained a clause which provided that the singular included the plural and vice-versa. The agreement also provided that a partner could vote to expel his co-partner at his absolute discretion and the partner to be expelled was not entitled to be present at the meeting at which the decision was to be taken.However the partnership agreement also provided that a partner was entitled to at least seven days’ notice of a general meeting at which a special resolution was to be passed. The partners in the firm wished to expel Hanlon and Ross since Hanlon’s department, the Property and Probate Department, was not well run and on two occasions he had pocketed executor’s commissions for work done. In Ross’ case, he was the partner in charge of the Litigation Department but his psychological condition prevented him from making court appearances.At a meeting of the partners of the law firm, a single resolution was passed by over 75% of the partners to expel both Hanlon and Ross as partners in the firm. Neither Hanlon nor Ross were present at this meeting, nor had they been given notice of the meeting. Hanlon challenged his expulsion on the grounds that he was not given notice of the meeting. Interestingly, the Court of Appeal did not regard the failure of the partners to accord natural justice to Hanlon as a basis for invalidating the expulsion. Rather the court restricted its decision to the terms of the partnership agreement.It held that the expulsion clause in the partnership agreement was to be strictly interpreted. However, even with such an interpretation, it held that it under the express terms of the agreement, Hanlon was not entitled to be present at the meeting and therefore it concluded that he was not entitled to notice of that meeting or to vote at that meeting. The court also decided that by virtue of the clause which provided for the â€Å"singular to include the plural†, it was possible for more than one partner to be expelled at the one meeting by the passing of a special resolution.This case appears to be the first case in partnership law which confirms that two partners may be expelled by the one resolution. __ _____ Existence of a partnershipPartnership between a number of groups of people in a hotel – One of the groups was a sister and two brothers – Dispute between the sister and brothers regarding the distribution between the three of the profits of the hotel partnership – Whether the relationship between the three regarding their share in the hotel partnership was also a partnership – s 1(1) of the Partnership Act 1890 – Hitchins v Hitchins and Another (1998) NSW Lexis 2382; 47 NSWLR 35.In this case the plaintiff and her two brothers entered into a hotel partnership with a number of other individuals. The hotel property and business was jointly owned by all the hotel partners and the joint share of the three siblings in the hotel partnership was 18%. Th is share of the profit of the hotel partnership was paid to the three Hitchins jointly. A dispute arose amongst the three of them regarding the treatment of these co-owned profits.The plaintiff alleged that the hotel profits should have been divided equally between the three but she alleged that the first defendant had failed to do so. As part of her claim, she alleged that the relationship between the siblings in these co-owned profits, itself constituted a separate partnership between the three of them. As a partnership, she claimed that under partnership law, the three would be required to share these profits equally and that in addition she was entitled to an account of the dealings of this alleged partnership .In the Supreme Court of New South Wales, Bryson J considered s 1(1) of the Partnership Act 1891 (the equivalent of the Partnership Act 1890) which provides that partnership is â€Å"the relation which exists between persons carrying on business in common with a view of p rofit† , s 2(1) of the Partnership Act 1891 (which provides that co-ownership of property does not of itself create a partnership in the property so held) and s 2(2) of the Partnership Act 1890 (which provides that the sharing of gross returns does not of itself create a partnership whether or not the persons have a common interest in the property from which the returns are derived). Relying of these statutory provisions, Bryson J held that the activity of the three, namely investing in a share in the hotel partnership and receiving drawings from it, did not constitute the carrying on of a ‘business in common’. Instead he categorised this activity as simply an investment, since there were no elements of engaging in trade or a flow of transactions which amount to the carrying on of a business.He held that while the three Hitchins were clearly partners in the hotel partnership, they were not partners in a separate partnership of which the business was the joint owne rship of a share in the hotel partnership. Although there was no partnership between the three siblings, Bryson J was able to find for the plaintiff on the grounds that the relationship between the three was a fiduciary. He supported this conclusion on the grounds, inter alia, that they were in a close family relationship and that they were common members of the hotel partnership. On this basis, he relied on the equitable principle that ‘equality is equity’ to hold that the hotel profits should be distributed evenly between the three siblings and he therefore ordered that an account of the distribution of the hotel partnership profits should be taken. _______ _______Liability of partnersLiability of a partner for the actions of his co-partner – Co-partners settle with plaintiff – Action for contribution against concurrent wrongdoers of errant partner – Defence to contribution that co-partners were not originally liable under s 10 of the Partnership Act 1890 – Whether partners liable under s 10 for breach of constructive trust by co-partner -Dubai Aluminium Company Ltd v Salaam and Others [1998] TLR 543. In this case the chief executive of the plaintiff company had conspired with Salaam and his solicitor, Amhurst, to steal $50 million from the plaintiff by using a series of sham contracts.Amhurst was sued on the basis that he had knowingly assisted the chief executive to breach his fiduciary duty. The issue before the court was whether Amhurst’s partners in the law firm were also liable to the plaintiff for their partner’s actions under s 10 of the Partnership Act 1890. Section 10 provides that â€Å"[w]here, by any wrongful act or omission of any partner acting in the ordinary course of business of the firm, or with the authority of his co-partners, loss or injury is caused to any person not being a partner in the firm, or any penalty is incurred, the firm is liable therefor to the same extent as the part ner so acting or omitting to act. During the course of the trial against Amhurst, the partners in his firm had settled with the plaintiff for a payment of $10m. The present action concerned a contribution which these partners sought to this settlement from Salaam and the chief executive of the plaintiff company. However their defence to the action for a contribution was that the partners were not in fact liable to the plaintiff under s 10 of the Partnership Act 1890. This defence was grounded on the claim that Amhurst’s liability was for dishonest assistance which was a liability in constructive trust, while s 10 was concerned with liability in tort or by reason of agency. However in the English High Court,Rix J held that s 10 was expressed in the widest terms, referring to ‘any wrongful omission’ causing ‘loss or injury’ or in the incurring of a penalty. Accordingly, he held that the section extended beyond torts to wrongs such as in this case, acce ssory liability in equity and he therefore allowed the action for contribution. PARTNERSHIP LAW UPDATENovember 2000___________________Post-dissolution ProfitsDeparture of one partner from a law firm – Continuing partners carrying on business without a final settlement with former partner – Post-dissolution profits – Entitlement of former partner to a share of post-dissolution profits attributable to his share of the partnership assets – s 42 of the Partnership Act 1890 – Fry v Oddy [1998] VSCA 26.In this case, the continuing partners in a nine person law firm claimed that their former partner, Oddy, was not entitled to any of the firm’s post-dissolution profits under s 46 of the Partnership Act 1958, the Australian equivalent of s 42 of the Partnership Act 1890. Section 42 provides that where a partner leaves a firm and there is no settlement between him and the continuing partners, the former partner has a right to that share of the profits of the firm which have been made since his departure and which are attributable to his share of the partnership assets. The rationale for the rule is that it provides an incentive for the continuing partners to buy-out the former partner’s share rather than to leave it in the firm.In this case, the continuing partners argued that the post-dissolution profits in the law firm were attributable solely to the skill and exertions of the continuing partners, rather than to the use of Oddy’s share of the partnership assets. The Victoria Court of Appeal (Brooking, Ormiston and Callaway JJ) rejected this argument and held that, after deducting a notional salary for each of the continuing partners’ for their exertions in generating these profits, Oddy was entitled to one ninth of the post-dissolution profits. The court’s reasoning highlights that in determining what share, if any, of the post-dissolution profits are attributable to the former partner’s shar e of the partnership assets, each case depends on its own facts.In particular, in the context of modern professional partnerships, it is interesting to note Brooking J’s statement regarding the use of modern technology in those firms: â€Å"Now the pen has been replaced by the word processor, if not by voice recognition software. The new technology is used both for communication and for management of information and activities. With technological change, no large firm could now prosper without its computer on every desk, its giant photocopiers (themselves a source of revenue), its computer notebooks, its fax machines and answering machines, its mobile telephones and pagers, its dictation equipment, its video conferencing facilities. Its library will be to a considerable extent in electronic format. Its drafting will be done with the aid of artificial intelligence.Its requirements in terms of human resources will range from caterers to librarians. Outsourcing may be used. The firm will need a managing partner or general manager or office manager to carry the cares of the practice. It may be so large that some partners hardly know one another[†¦ ]All this makes the practice of at least the bigger legal firms resemble a manufacturing business, producing and selling at a profit a range of legal and at times related services. † On this basis, the Court of Appeal concluded that all the assets of the partnership contributed to its profits in the sense that they provided the apparatus which enabled the practice to be carried on.Accordingly, when the continuing partners had simply denied that any of the post-dissolution profits were attributable to the use of Oddy’s share of the assets and in particular since the continuing partners had not put forward any other basis for determining what share of the profits might be attributable to the use of Oddy’s share, the court concluded that Oddy was entitled to one ninth of these profits, after account had been taken of a notional salary of AUS$130,000 per partner for the continuing partners’ exertions in generating those profits. ________ _Liability of PartnersLiability of partners for wrong of co-partner – Sexual harassment of employee of partnership – s 10 of the Partnership Act 1890 – Proceedings Commissioner v Ali Hatem. [1999] 1 NZLR 305. In this case, one partner in a garage partnership, who was in charge of the firm’s staffing, was held to have been guilty of the sexual harassment of an employee of the firm. This cases examines the liability of the other partner in the firm for this sexual harassment.Section 13 of the Partnership Act 1908 (the New Zealand equivalent of s 10 of the Partnership Act 1890) provides that â€Å"[w]here, by any wrongful act or omission of any partner acting in the ordinary course of business of the firm, or with the authority of his co-partners, loss or injury is caused to any person not being a partne r in the firm, or any penalty is incurred, the firm is liable therefor to the same extent as the partner so acting or omitting to act. † The act of sexual harassment, which was a statutory tort under the Human Rights Commission Act 1977 in New Zealand, was not part of the ordinary course of business of a garage in a literal sense. However, it was held to be within the meaning of this term in the legal sense, since the partner was acting in the ordinary course of business when he performed this wrongful act. On this basis his co-partners were held liable for this tort.The words of Tipping J are instructive: â€Å"Although sexual harassment cannot be regarded as part of the ordinary course of the firm’s business, we are of the view that, when acting as he did, the perpetrator was acting in the ordinary course of the firm’s business. The first acts of sexual harassment occurred when he was interviewing one of the complainants for a job. There were numerous instance s of sexually loaded remarks[†¦ ]In this case, the perpetrator was doing something within the ordinary course of business of the firm, ie dealing with staff members in the work environment. In so doing, he committed the statutory tort of sexual harassment. He thereby did tortiously something which he was generally authorised to do. The firm is liable for his conduct. ______________________International PartnershipsBreach of duty of care owed by accountancy firm to plaintiff – Accountancy firm was member of national group of accountants throughout Australia – Whether other firms in that association were liable under partnership law to the plaintiff – Section 1(1) of the Partnership Act 1890 – Whether other members of the association were liable as partners by holding out – Section 14(1) of the Partnership Act 1890 – Duke Group Ltd (in liquidation) v Pilmer [1999] SASC 97. In this case, the plaintiff company was involved in a takeover of another company. As part of the takeover process, it commissioned the Australian accountancy firm of Nelson Wheeler (Perth), the first named defendants, to advise on the proposed price for the target company. It was established that this report was negligently prepared in overvaluing the share price of the target company.The plaintiff alleged that Nelson Wheeler Perth were part of a national partnership of which the fifth named defendants, a number of accountancy firms throughout Australia, were the other members. On this basis, the plaintiff alleged that the fifth named defendants were jointly liable with the first named defendants for the damage caused by the negligent valuation report. The relationship between Nelson Wheeler (Perth) and the other accountancy firms was that they were all members of Nelson Wheeler National. This was an association of accountancy firms throughout Australia, whereby all the member firms referred business to other member firms throughout Australia. In addition, Nelson Wheeler Perth and the other firms described themselves as a ‘national partnership’ and as a ‘national firm’ in their letterheads and advertising material.Nonetheless, the Supreme Court of South Australia (Doyle CJ, Duggan and Bleby JJ) held that the members of this national association did not in fact carry on business in common as required by s 1(1) of the Partnership Act 1891 (the equivalent of s 1(1) of the Partnership Act 1890). In particular, it was held that this association operated primarily as a means of referring business between firms in different parts of Australia. It did not thereby constitute the member firms partners with each other, since they all carried on practice in their locations and did not share fees or profits (except in a limited way in relation to work referred between them). The court also noted that the relationship of partnership cannot be created by persons simply stating that a partnership exists.The court noted that although there were substantial benefits to be gained by the association of the firms, crucially there was never any intention of deriving profits from any common business. Rather this association resembled a club, the intention being that the members would benefit by work referrals, sharing of client lists and the sharing of costs, but this was not an association where the members were carrying on business in common as required by the definition of partnership. The plaintiff also alleged that the fifth named defendants were liable on the basis of a holding out under s 14 of the Partnership Act 1891 (the equivalent of s 14 of the Partnership Act 1890).The Supreme Court of South Australia accepted that the members of Nelson Wheeler National allowed themselves to be generally represented as partners of each other. However, to establish partnership by estoppel, there must be a representation to the claimant that a particular person or persons is a partner. It is not sufficie nt for the plaintiff to simply rely on the fact that Nelson Wheeler indicated in its valuation report that it was a member of a national partnership. The court held that this was not a sufficient representation under s 14 since the persons purportedly held out, ie the fifth named defendants, were neither named or identified. On this basis, the court held that there was no liability on the fifth named defendants on the basis of holding out.PARTNERSHIP LAW UPDATEFebruary 2001___________Liability of firm for partner’s actsAuthority of a partner to bind his firm – Bare assurance by partner to third party that within the ordinary course of business – s 5 of the Partnership Act 1890 – Hirst v Etherington and Another [1999] TLR 546. In this case, Etherington, a partner in a law firm, was acting for the borrower of money from a bank. He gave an undertaking to the bank guaranteeing the loan. The bank’s solicitor requested and received confirmation from Ethe rington that this undertaking was given in the ordinary course of the business of the firm. When the loan was not paid by the client, the bank sued Etherington’s partner, as Etherington had been adjudicated bankrupt.Section 5 of the Partnership Act 1890 provides that â€Å"[e]very partner is an agent of the firm and his other partners for the purpose of the business of the partnership; and the acts of every partner who does any act for carrying on in the usual way business of the kind carried on by the firm of which he is a member bind the firm and his partners, unless the partner so acting has in fact no authority to act for the firm in the particular matter, and the person with whom he is dealing either knows that he has no authority, or does not believe him to be a partner. † The Court of Appeal held that it was not within the ordinary course of business of a solicitor, without more, to give a guarantee to a third party regarding a debt incurred by a client. The que stion under s 5 was whether a reasonably careful and competent lender would have concluded that there was an underlying transaction of a kind which was part of the usual business of a solicitor.It was not open to the lender to accept the bare assurance of the partner that the undertaking was within the ordinary course of business of the firm. Accordingly, Etherington’s partner was held not to be liable on the undertaking. ___________ _______Existence of a Partnership Parties agree to establish a partnership – Partnership business is then conducted through company – Action brought under s 205 of the Companies Act 1963 by plaintiff – Plaintiff also alleges that partnership exists as separate and anterior to shareholding in company – Partnership action brought by plaintiff against other two partners for injunction restraining dissipation of assets of partnership business and damages for breach of contract – Horgan v Murray and Milton High Court , unreported, 17 December 1999.This case concerned the long running dispute between three shareholders in Murray Consultants Limited. In addition to bringing an action against his two fellow shareholders under company law, the plaintiff brought a partnership action against them in which he sought an injunction restraining them from dissipating the assets of the business of the partnership and damages for breach of contract. His partnership action was based on the fact that when the parties initially decided to start a public relations business, it was agreed to establish a partnership. However, it was then agreed that the partnership business would be conducted through the medium of a company (Murray Consultants Limited).The relationship between the three broke down and in addition to seeking company law remedies, the plaintiff alleged that the three were in partnership together, a partnership which existed independently of and was anterior to the setting up of the company. The defe ndants denied that there was such a separate partnership and relied in part on s 1(2) of the Partnership Act 1890 which states that â€Å"the relation between members of any company or association which is registered as a company[†¦]is not a partnership within the meaning of this Act. † O’Sullivan J struck out the plaintiff’s statement of claim on the basis that the three parties agreed that their public relations business would be conducted through the medium of a company and this was entire of their relationship and there was no other relationship between the three which could constitute a partnership.He relied in part on the High Court judgment of Murphy J in Crindle Investments v Wymes [1998] 4 IR 567 at 576 that where it was held that â€Å"the undertaking was conceived and consciously promoted in the form of a company incorporated under the Companies Act, 1963, and it was the requirements of that legislation which governed the relationship between th e parties†. __________________Partnership PropertyPartnership property – Whether an asset could be partnership property if it is incapable of assignment – Section 20 of the Partnership Act 1890 – Don King Productions v Warren [1999] 2 All ER 218. In this case, the question arose as to whether the benefit of non-assignable choses in action could be transferred to a partnership.The action involved a partnership that was formed between the well-known boxing promoters Don King and Frank Warren for the promotion of boxing in Europe. Following a dispute between the parties the partnership was dissolved. However, their partnership agreement had provided that each was to assign to the partnership certain boxing promotion contracts to which they were separately a party. However, these contracts were promotion contracts that had been entered into by Don King and Frank Warren respectively with various boxers. Each of these contracts was for personal services and cont ained non-assignment provisions and therefore could not be assigned.In the English High Court ([1998] 2 All ER 608), Lightman J held that effect could be given to their agreement in equity as a declaration of trust of those contracts for the benefit of the partnership and in this way the contracts were held to be partnership property. Section 20 of the Partnership Act 1890 deals with partnership property and it provides that â€Å"[a]ll property and rights and rights and interests in property originally brought into the partnership stock or acquired, whether by purchase or otherwise, on account of the firm, or for the purposes and in the course of the partnership business, are called in this Act partnership property, and must be held and applied by the partners exclusively for the purposes of the partnership and in accordance with the partnership agreement. Frank Warren appealed on the grounds that the boxing promotion contracts were not property within the meaning of s 20 of the P artnership Act 1890 and even if they were, they could not be ‘brought into the partnership stock’ or â€Å"acquired[†¦]on account of the firm† so as to become partnership property within the terms of s 20. The Court of Appeal rejected this appeal and held that property which was not capable of assignment could still be partnership property for the purposes of s 20 of the Partnership Act 1890. In addition, Frank Warren had claimed that boxing promotion contracts concluded by him and Don King between the time of the dissolution and the winding up of the partnership were not partnership property. This argument was also rejected by the Court of Appeal, which held that such contracts were also to be held on trust for the partnership. __________Claim for court interest on sums owed to deceased partnerPartnership at will – Dissolution of partnership by the death of a partner – Claim for court interest on sums owing to the deceased partner’s est ate – Section 42 of the Partnership Act 1890 – Williams v Williams, English High Court, unrep, 16 July 1998. In this case a partnership at will existed between a father and his son. The partnership was automatically dissolved by the death of the father pursuant to the terms of s 33(1) of the Partnership Act 1890 (â€Å"Subject to any agreement between the partners, every partnership is dissolved as regards all the partners by the death or bankruptcy of any partner†. Under s 42 of the Partnership Act 1890, a deceased partner’s estate is entitled to that share of the firm’s post-dissolution profits which are attributable to the deceased’s share of the partnership assets or to interest at the rate of five per cent per annum on the amount of his share of the partnership assets since the dissolution. The father’s personal representative brought an action under s 42 of the Partnership Act 1890. However, he also sought court interest pursuan t to s 35A of the Supreme Court Act 1981. Maddocks J held that the claim for court interest could not properly be formulated since interest was already running at the rate of five per cent under s 42 of the Partnership Act 1890. He held that the sum which was found to be due to the estate should carry interest at the rate of five per cent per annum from the date of dissolution to the date of payment.PARTNERSHIP LAW UPDATEMay 2001: ________ ___ _______Liability of a Partnership for Partner’s ActionsLiability of a firm for the actions of a partner – Section 10 of the Partnership Act 1890 – Assault by a partner in law firm on another solicitor in precincts of courthouse and in the courtroom – Whether the first assault was within the ordinary course of business of the firm – Whether the second assault was within the ordinary course of business of the firm – Flynn v Robin Thompson & Partners and Wallen, The Times, 14 March 2000. This case involve d the application of the rules on the liability of a partner for the actions of his co-partner. Under s 10 of the Partnership Act 1890 a firm is liable for the acts or omissions of a partner that are committed in the ordinary course of business of the firm. The plaintiff, John Flynn, was a solicitor and he took an action against the law firm of Robin Thompson & Partners for damages as a result of an assault which he suffered.The facts were that Thomas Wallen was a solicitor and a partner in the firm of Robin Thompson & Partners and he was conducting litigation on behalf of a client of his firm. Representing the other litigant in the case was the plaintiff. The original case in which the two solicitors were involved became fairly heated, so much so that on the steps of the court there was a scuffle between them and there was an assault by Wallen on Flynn. Even more amazing was the fact that while Wallen was presenting his case to the court, it appears that Flynn tried to take papers from Wallen and it was alleged that Wallen assaulted Flynn in his attempt to prevent him taking his papers.Flynn took an action for damages against both Wallen and against his firm on the basis that the firm was liable for the actions of Wallen since they were committed during the ordinary course of business of the firm. The English Court of Appeal considered the two alleged assaults under s 10 of the Partnership Act 1890. As regards the assault in the precincts of the court, it was held that the assault by Wallen was so extraordinary and so far removed from the ordinary conduct of an advocate that it could not be within the ordinary course of business of the firm and therefore the firm was not liable under s 10 of the Partnership Act 1890 for this assault. As regards the minor scuffle in the court, the issue was less clear cut as to whether this was outside the ordinary course of business of the firm.However on procedural grounds (i. e. on the principle of ‘proportionalityâ⠂¬â„¢ under para 1. 3. 5 of the UK Civil Procedure Rules (October 1999)), it was held that this second assault should not go to trial. In an interesting article on this case in the Journal of Criminal Law (2000) at p 368 the argument is made in relation to the minor scuffle that all Wallen was doing was representing his firm’s interest and surely his co-partners would expect him not to allow the other side take his papers without a fight. On this basis it is argued in the article that the court should have held that the assault in the court was within the firm’s ordinary course of business. _______ ___ ____Joint and Several Guarantee by PartnersPartners in property development – One partner also had substantial personal debts to Bank – Bank obtained guarantee from partners for the repayment of loans to the Bank – Wording of guarantee was such that partners were guaranteeing both their joint obligations to the bank and their several obligations â₠¬â€œ AIB Group v Martin and another [2000] 2 All ER (Comm) 686. The first defendant, Mr Martin, was a property developer and the second defendant, Gold, was a dentist. They bought a number of rental properties in partnership together as an investment. Funding for the properties was obtained from the plaintiff bank. Mr Martin was also involved in a number of other property deals and he had a significant level of personal borrowings from the bank in respect of these other ventures.The Bank re-structured their financing to the partnership and as part to the restructuring, the Bank entered into a mortgage with Mr Martin and Mr Gold. This deed was between the Bank of the one part and Mr Martin and Mr Gold of the other part. Mr Martin and Mr Gold were defined in the deed as the ‘Mortgagor’ and the deed also provided that where the term ‘Mortgagor’ referred to more than one person, it was to be construed as referring to all and/or any of those persons and that the obligation of those persons was to be construed as joint and several. The deed went on to provide that the Mortgagor would, inter alia, pay all other indebtedness of the Mortgagor to the Bank.It became apparent that Mr Gold had signed this deed without appreciating that he was assuming liability for the personal debts of Mr Martin, as well as the debt owing by the partnership to the Bank. In the Court of Appeal, the claim that this deed should not be interpreted so as to make Mr Gold liable for the personal obligations of Mr Martin to the Bank was rejected unanimously, Sedley LJ noting that â€Å"if I could be persuaded that there was any intellectually respectable way of relieving Mr Gold of the liability with which he has been burdened, I would at least have to hear†¦why we should not adopt it†¦.. With regret, I agree that this appeal has to fail. ________ ____Post –dissolution claims between Partners Lease held by partners in trust for partnership – Inde mnity from all the partners in favour of trustees – Partnership dissolved – Action by trustees against partner for rent under terms of indemnity – Whether this debt could be set-off against amounts which might be owed to partner once partnership account on dissolution had been taken. Hurst v Bryk and others [2000] 2 WLR 740. The plaintiff, Hurst, was a partner in a firm of solicitors. The firm carried on business from leasehold premises held by four partners as trustees for the partnership. The partnership deed provided that the trustees were entitled to an indemnity from the partnership in respect of their liability for rent under the lease. In 1990 the partnership was dissolved but the premises were not disposed of until 2000.In 1997 the trustees of the lease served a statutory demand on Hurst for his share of the rent under the indemnity. At this stage, although the partnership had long since been dissolved, the partnership accounts had not yet been finalised between the former partners. On this basis, Hurst sought to set aside the statutory demand under the United Kingdom’s Insolvency Rules 1986 (r 6. 5(4)(a)). He claimed that the statutory demand should be set aside since he had a counterclaim which would exceed the amount of the statutory demand. In the High Court, Ferris J dismissed Hurst’s claim on the grounds that it was unlikely that on the taking of the full partnership accounts it would be found that a balance was due to Hurst.Ferris J also held that the trustees' claim against Hurst was under the indemnity and not in their capacity as partners so that his claim against them as trustees lacked the necessary mutuality for a counterclaim or cross-demand. Hurst appealed. The appeal was dismissed by the Court of Appeal. It was held that until the final partnership account was drawn up it could not be said that there would or might be a balance in favour of the plaintiff which would be due from the trustees as partners . In addition, there was no prospect of the account being taken in the foreseeable future, if at all, and accordingly there was no triable issue resulting from the plaintiff's cross-demand which would justify setting aside the demand. In addition, the Court of Appeal considered the mutuality issue.It held that mutuality was lacking because the debt on which the statutory demand was based was one to which the trustees alone were entitled whereas the proposed cross-claim would be against all the partners jointly. _________December 2001________ ______Breach of Constructive Trust by PartnerLiability of a partner for the actions of his co-partner – Co-partners settle with plaintiff – Action for contribution against concurrent wrongdoers of errant partner – Defence to contribution that co-partners were not originally liable under s 10 of the Partnership Act 1890 – Whether partners liable under s 10 for breach of constructive trust by co-partner -Dubai Aluminium Company Ltd v Salaam and Others [2000] 3 WLR 910.In this case the chief executive of the plaintiff company had conspired with Salaam and his solicitor, Amhurst, to steal $50 million from the plaintiff by using a series of sham contracts. Amhurst was sued on the basis that he had knowingly assisted the chief executive to breach his fiduciary duty. The issue before the court was whether Amhurst’s partners in the law firm were also liable to the plaintiff for their partner’s actions under s 10 of the Partnership Act 1890. Section 10 provides that â€Å"[w]here, by any wrongful act or omission of any partner acting in the ordinary course of business of the firm, or with the authority of his co-partners, loss or injury is caused to any person not being a partner in the firm, or any penalty is incurred, the firm is liable therefor to the same extent as the partner so acting or mitting to act. † During the course of the trial against Amhurst, the partners in his firm had settled with the plaintiff for a payment of $10m. The present action concerned a contribution which these partners sought to this settlement from Salaam and the chief executive of the plaintiff company. However their defence to the action for a contribution was that the partners were not in fact liable to the plaintiff under s 10 of the Partnership Act 1890. This defence was grounded on the claim that Amhurst’s liability was for dishonest assistance which was a liability in constructive trust, while s 10 was concerned with liability in tort or by reason of agency.In the English High Court, Rix J held that s 10 was expressed in the widest terms, referring to ‘any wrongful omission’ causing ‘loss or injury’ or in the incurring of a penalty. Accordingly, he held that the section extended beyond torts to wrongs such as in this case, accessory liability in equity and he therefore allowed the action for contribution. This judgment was appealed to the C ourt of Appeal where it was reversed. The Court of Appeal agreed with Rix J that s 10 of the Partnership Act 1890 extended to all wrongs and not just torts. However, on the facts of the case, the court held that the actions of Amhurst were not ‘within the ordinary course of business’ of the firm and therefore the partners in the firm were not liable therefor.Mr Amhurst had taken a very active part in planning and instigating a dishonest scheme whereby the plaintiff company would be defrauded of large sums of money, including drafting sham agreements. The Court of Appeal held that there was no evidence to suggest that Amhurst’s partners authorised him to act as he did and as it was not part of the ordinary business of a firm to plan and draft sham agreements, these actions were not binding on the firm. Evans LJ argued that as vicarious liability under s 13 of the Partnership Act 1890 requires notice on the part of the partners in question, it would be anomalous if a partner was to be vicariously liable for the accessory liability of a partner who was a constructive trustee for giving knowing assistance to a breach of trust or fiduciary duty where there is no notice.The result would have been different according to Evans LJ if the firm’s clients had not been involved in the breach of fiduciary duty in question. Aldous LJ held that if Amhurst’s involvement had been restricted to drafting agreements, his actions would have been within the ordinary course of business of the firm. However, his role was to plan, draft and sign sham agreements which were known to be dishonest and this was not within the ordinary course of business of a firm. The participants in the scam were not his clients or clients of the firm. These wrongdoers could not have believed that Mr Amhurst was acting with the apparent authority of his partners, because they knew him to be acting dishonestly.On this basis the Court of Appeal held that the ‘innocentà ¢â‚¬â„¢ partners would not have been held liable to the plaintiff for Mr Amhurst’s actions and therefore they were not entitled to claim a contribution from the Salaam and the chief executive in respect of the sum which they had paid in settlement of the plaintiff’s claim against them for vicarious liability for the actions of Mr Amhurst. _____________ _____Breach of Trust by PartnerBreach of trust by a partner – Solicitors’ partnership – Liability of firm for breach – Whether partner acting in the ‘ordinary course of business’ – Wwhether firm liable – Section 10 of the Partnership Act 1890 – Walker and others v Stones and others [2000] 4 All ER 412. This case involved an action for breach of trust against Mr Stones, a trustee. Unlike the case of Dubai Aluminium Co Ltd v Salaam [2000] 3 WLR 910, this case did not involve a constructive trust, but rather a situation where a partner in a law firm agreed to bec ome a trustee of a family trust.When this partner allegedly breached this trust by benefiting the father who set up the trust, rather than the beneficiaries of the trust,, the issue arose as to whether his partners were vicariously liable for the alleged breach of trust. In the Court of Appeal, Sir Christopher Slade considered sections 10-13 of the Partnership Act 1890 as they apply to breaches of trust. On the one hand, s 10 of the Partnership Act 1890 provides that a firm is liable for the wrongs committed by a partner in the ordinary course of business of the firm, while on the other hand s 13 of the Partnership Act 1890 deals with breaches of trust by a partner. This latter section provides that where a partner is a trustee, liability does not attach to his co-partners if there is a breach of trust unless the co-partners have notice of the breach of trust.On this basis, Sir Christopher Slade concluded that s 13 deals with a situation where a partner agrees to be a trustee (a tru stee partner) while s 10 would apply to a situation where a partner, not already being a trustee, conducts himself as an accessory to a breach of trust so as to constitute himself a constructive trustee. Section 13 assumes that the individual trusteeship which a partner undertakes is not something undertaken in the ordinary course of business of the firm, since otherwise it would be inconsistent with s 11 (which provides for the firm to be liable where there is a misapplication of property received by a firm or a partner where the property is received within the ordinary course of business of the firm. He thus concluded that s 10 had no application to breaches of trust committed by a partner, who agrees to be a partner (a trustee partner) since the legislature assumed in drafting the Partnership Act 1890 that breaches of trust committed by a trustee partner fell outside the ordinary business of a partnership and therefore did not give rise to liability on the part of the firm, under s 10. He observed that sections 10-13 of the Partnership Act 1890 applied to all partnerships, and not just solicitors’ partnerships, and for this reason one should not be surprised that individual trusteeship by a partner was not within the ordinary course of business of a firm. On this basis, he held that the innocent partners in the law firm could not be vicariously liable for the alleged breach of trust by Mr Stones under s 10 nor under s 13, since the innocent partners were not aware of the alleged breach. __ ______Duty of Care between PartnersNegligence by partner in law firm causing loss to client – Also causes financial loss to his co-partners since they are liable to pay excess on insurance policy – Whether negligent partner owes duty of care to his co-partners – Ross Harper & Murphy v Banks Outer House, Court of Session, Scotland, unrep, 11 May 2000. The defendant had been a partner in the plaintiff firm. He had negligently advised a client of the firm in relation to a conveyancing transaction and the firm had been successfully sued by the client for the damages caused by this negligence. The firm’s insurance policy covered the firm’s liability in this regard, save for the excess of ? 20,000 which had to be paid by the partners in the firm. The partners in the plaintiff firm now wished to recover this excess from the defendant partner.They claimed that they were owed a duty by the defendant that he would exercise reasonable care in his duties as a partner so as not to expose the partnership to claims for professional negligence, which he had breached by not examining the title of the property in this case with sufficient care. In view of the limited authority on this area, this was an important judgment by Lord Hamilton. He concluded that a â€Å"partner may in certain circumstances be liable in damages to his firm (and secondarily to his co-partners) for loss sustained by reason of liability incurred to a third party and these circumstances are not restricted to those where the offending partner has been responsible for fraudulent or illegal activity; the duty extends, in my view, to a duty of care†¦. In the absence of clear and binding authority I favour a standard which requires the exercise of reasonable care in all the relevant circumstances.Those circumstances will include recognition that the relationship is one of partnership (which may import some mutual tolerance of error), the nature of the particular business conducted by that partnership (including any risks or hazards attendant on it) and any practices adopted by that partnership in the conduct of that business†¦. In respect of liabilities incurred by the firm to a third party, it is, however, important to notice that breach of a duty of reasonable care to the third party will not of itself import a breach by the â€Å"delinquent† partner of his obligation to the firm. † For this reason, the court held that the issue should be put out for a hearing by order on further procedure. | |

Copper Cycle Lab Report

CHEM 1300 Laboratory Program, Fall 2012 Experiment 3 Report Form Name: ___________________________ Student Number: ___________ Locker __________ Section Laboratory Day Lab Session Lab Room Number Rotation B0__ Mon Tues Wed Thurs Fri AM PM 206 216 222 230 240 12 Experiment 3: Copper Cycle Instructions for Laboratory Reports 1. Your lab report must be submitted using this official report sheet. 2. You must legibly and correctly provide all identifying information requested above. Incomplete or incorrect information can lead to substantial penalties. 3.You are strongly encouraged to type all or most of your responses. Responses can be first written and saved using a word processor (e. g. Microsoft Word) and then pasted into the report form. Printing problems often occur when the PDF report forms are edited and saved on Mac computers. Concessions will not be made for technical difficulties. 4. If you choose to handwrite any part of the report, you must do so legibly in ink. Illegible responses, including sections written with poor handwriting or typed in with miniscule font size will not be marked and will be assigned a value of zero. 5. Detailed instructions on how to write a lab report are provided on pages 10 – 15 of the lab manual. 6. Lots of space is provided in each section of the report. Be concise. You do not need to fill in all space provided for the sake of doing so. 7. When asked to provide calculations, for full credit you must provide a labeled and systematic approach showing all steps and assumptions required to determine the required results. All calculations must be typed or written legibly. 8. You must submit the complete set of original copies (i. e. he white copies) of your Data/Observation sheets that were signed by your TA with your report. Any attempt to alter the original data or use a different set of data in the analyses contained in this report is an act of academic dishonesty and will be penalized as such. Some marks will be allocated to the completeness of your data. 9. It is an act of plagiarism (will be penalized) to use any data or information obtained from the literature and/or Web sources without properly citing it. You should rewrite cited work in your own words, especially if the quotation spans more than a couple of sentences. 10. Staple together all pages relating to this report and submit it in the correct slot in the report cabinet before the submission deadline. Reports submitted into the wrong slot or late will be penalized. Official Report Form Page 1 of 5 CHEM 1300 Laboratory Program, Fall 2012 Experiment 3 Report Form Purpose Results Use your experimental data to determine the percent recovery of copper from Cu(NO3)2. Official Report Form Page 2 of 5 CHEM 1300 Laboratory Program, Fall 2012 Experiment 3 Report Form List the balanced net ionic equations for all reactions that you observed in this experiment.Use your observations to provide evidence for all successful reactions completed and products formed. Where applicable, list ions in their coordination complex form; for example, when Cu2+ exists as the hexaaquo complex, use [Cu(H2O)6]2+ (aq) in your equation. Note: The zinc cation also forms a hexaaquo complex in aqueous solution. Official Report Form Page 3 of 5 CHEM 1300 Laboratory Program, Fall 2012 Experiment 3 Report Form Discussion Official Report Form Page 4 of 5 CHEM 1300 Laboratory Program, Fall 2012 Experiment 3 Report Form Discussion (continued) Conclusion References Official Report Form Page 5 of 5

To Be Or Not Be Essays - Biblical People In Islam, Prophets Of Islam

To Be Or Not Be Essays - Biblical People In Islam, Prophets Of Islam To Be Or Not Be Snow Falling on Cedar Friday, July 16th 3:00-3:45 Pg. 113-133 They talk about Japanese immigrants who worked on Strawberry plantation fields. They also talk about Japanese culture and weddings. In this chapter they also mention Hastue (Japanese girl) and her relationship with Ishmael Chambers. They also tell the reader that she has been trained by Mrs. Shigemura to dance and serve tea with class. Thursday, July 22nd 9:00-9:30 Pg. 134-151 They talk about Ishmael Chambers and his life. They also describe the lawyers in the trial and describe the surroundings. Kabu Miyamanto the murderer of Ishmael Chambers is sitting in his seat looking depressed.

Jean-Paul Satre essays

Jean-Paul Satre essays Early Sartrean philosophy is one of a pursuit of being. It is an attempt to grasp being through an investigation of the way being presents to consciousness - phenomenological ontology. Phenomenological ontology refers to the study of being through its appearances. This simplistic definition needs further clarification. First, by phenomenon Sartre refers to the totality of appearances of a thing and not simply a particular appearance. As Wilfrid Desan writes, phenomenology is "a method which wants to describe all that manifests itself as it manifests itself." Moreover, H.J. Blackham observes that in Sartre, "the objects of consciousness, the phenomena, the appearances of things, disclose what is really there as it really is, though never exhaustively." This position is better understood when we come to discuss Sartre's twofold division of being. There we shall find that the in-itself presented to the reflective consciousness in phenomena is a totalized being, being in its plenitude. B lackham continues: Consciousness implies and refers to an existence other than its own and to its own existence as a question. It is this relation of the pour-soi to the en-soi which is the foundation (and the only condition) of knowledge and action. Knowledge is necessarily intuition, the presence of consciousness to the object which it is not. This is the original condition of all experience. Before the object is defined and interpreted, consciousness constitutes itself by separating itself from it. Second, most commentators claim that Sartre preferred ontology to metaphysics because the former, as the study of being as being, presupposes the traditional claim of the precedence of essence over existence and the existence of human nature. Moreover, although ontology denotes the study of being, it "does not revive the ghosts of substance, soul, and God." Sartre claims that the basic distinction of Existentialism from other systems of thought is its cla...

Where in the World Classroom Icebreaker

'Where in the World' Classroom Icebreaker Technology and transportation in the modern world have given us the opportunity to learn so much more, often first hand, about the rest of the world. If you haven’t had the privilege of global traveling, you may have experienced the thrill of conversing with foreigners online or working side-by-side with them in your industry. The world becomes a smaller place the more we get to know each other. When you have a gathering of people from various countries, this icebreaker is a breeze, but it’s also fun when participants are all from the same place and know each other well. Everyone is capable of dreams that cross borders. To make this icebreaker kinetic, require that one of the three clues be a physical motion. For example, skiing, golfing, painting, fishing, etc. Basic information about the Where in the World Icebreaker: Ideal Size: Up to 30. Divide larger groups.Use For: Introductions in the classroom or at a meeting, especially when you have an international group of participants or an international topic to discuss.Time Needed: 30 minutes, depending on the size of the group. Instructions Give people a minute or two to think of three clues that describe, but don’t give away, either the country they are from (if different from the one you’re in) or their favorite foreign place they have visited or dream of visiting. When ready, each person gives their name and their three clues, and the rest of the group guesses where in the world they are describing. Give each person a minute or two to explain what they like best about their favorite place in the world. Start with yourself so they have an example. If you want students on their feet and moving, require that one clue be a physical motion like swimming, hiking, golfing, etc. This clue may include verbal help or not. You choose. For example: Hi, my name is Deb. One of my favorite places in the world is tropical, has a beautiful body of water you can climb, and is near a popular cruise port (I am physically imitating climbing). After guessing is finished: One of my favorite places in the world is Dunn’s River Falls near Ocho Rios, Jamaica. We stopped there on a Caribbean cruise and had the marvelous opportunity of climbing the falls. You start at sea level and can climb 600 feet gradually up the river, swimming in pools, standing under small falls, sliding down smooth rocks. It’s a beautiful and fantastic experience. Debriefing Your Students Debrief by asking for reactions from the group and asking if anybody has a question for another participant. You will have listened carefully to the introductions. If somebody has chosen a place related to your topic, use that place as a transition to your first lecture or activity.

IMPACTS OF A BORDERLESS SOCIETY Essay Example | Topics and Well Written Essays - 1000 words

IMPACTS OF A BORDERLESS SOCIETY - Essay Example Historically, most perishable foods were produced and sold locally, as there was no way of efficiently transporting these products across long distances. However, the increase of technology and globalization has meant that food sold in one city is often produced in a different part of the country, or somewhere else in the world entirely (Halweil, 2002). It is now estimated that food travels 1,500 miles on average from when it is produced to when it is consumed. This includes food being produced on one side of the country and sent to the other, or being produced locally, transported to distribution centers a significant distance away and finally transported back to local supermarkets (Prentice et al., 2010). Another estimation considers that food has changed hands at least six times between where it was produced and where it is sold (Kloppenburg Jr., Hendrickson, & Stevenson, 1996). For the food components that were part of my meals, the initial stages of these products would have been produced on agricultural or dairy farms. For example, dairy products would have been used in the production of the cheese, milk and yoghurt. From that point, the raw product, such as milk, would be sold perhaps to a manufacturer or to a middleman who would later sell it to a manufacturer. The manufacturer (e.g. Yoplait) makes use of raw ingredients sourced from throughout the country and the world to create their product. Generally the manufacturer chooses suppliers that can produce a significant quantity, are reliable, and are low in price. The manufacturer may sell their product directly to suppliers, or may pass it on to a distributer. The distributer then sells the product to the store where it is to be sld to individual consumers, such as a supermarket. The number of steps would be smaller for produce and other products that do not require as much processing, however, I did

Consumer behavior Assignment Example | Topics and Well Written Essays - 250 words - 2

Consumer behavior - Assignment Example Using the system has got many advantages over conducting a market research. First, it can collect data from a vast sample of shoppers thus increasing the reliability of the information as compared to the market research which only uses a small sample to represent the entire population. It is also cheap since getting this amount of information through market research can prove to be very expensive, especially when one needs to establish baseline data. Using the system also eliminates bias encountered during collection and entry of data. However, an actual market research is more applicable when looking for information before introducing a new product into the market since it can be based on the emotions and realities of the consumers’ lives and hence have greater chance of success (Pan, ПÐ °Ã ½ & ПÐ °Ã ½, 2008). Marketing strategies can also be evaluated before implementation. This is important as it helps a firm to increase the possibilities of success of the strategy (James, 2013) thus avoiding huge losses that may be incurred through failure of a marketing strategy. A successful marketing strategy is one which is measurable, clearly articulated, achievable and actionable (James,

Business-Level and Corporate-Level Strategies Essay - 2

Business-Level and Corporate-Level Strategies - Essay Example The organization represents the actual market penetration of 82%. In addition, the organization sells mobility of accurate voice and data through significant wireless services. Business Level Strategies of AT&T AT&T is one of the most popular telecommunications brand in global market place. The organization followed unique business level strategy to enhance their business performances. Business level strategy includes cost leadership strategy, differentiation strategy and focus strategy. Implementation of effective business level strategy helped the organization to become one of the strongest global brands within the telecommunication industry. Business level strategy of AT&T has been described below. Cost Leadership strategy The organization focuses on the reduction of business operation cost in order to offer the products to the end customers in a reasonable price. This competitive pricing strategy helped the organization to achieve the leading spot in the US telecommunication indu stry. For example, the organization provides several effective services, such as Rollover Minutes and Family Unit Plan. The organization reduced the service processing cost to deliver the services in a low price level. Moreover, the organization has implemented several niche marketing strategies. The organization provides, TDMA, UMTS and GSM service in minimal price to their clients. Effective cost leadership strategy helped the organization to develop significant client base. Differentiation Strategy Effective product and service differentiation strategy helped AT&T to meet the market demand and customer satisfaction level. The organization collaborated with Apple Corporation. AT&T started to sell their GSM and Wireless services through the iPhones. The organization is successfully acquiring leading global clients. It is helping them to secure effective market share. Unique accord to the competitive global market place has effectively differentiated the brand from its existing glob al competitors (Brenton, 2007). Utilization of wide spectrum offers exclusive video conferring service to its target customers. Focus Strategy AT&T is the only telecommunication organization in US that committed effective customer service. The organization has implemented effective niche marketing strategy. People can get linked and connected with each other in any place through the efficient telecommunication and broadband service of AT&T. The organization effectively diversified their business operation in several emerging global markets. AT&T provides HSPDA, Voice PTT, Video Sharing and Voice-IP services to its global customers. In addition, exclusive channel exposure helped AT&T to achieve potential competitive advantages. Question 2 The successful story of AT&T portrays 130 years old history. The giant telecommunication service provider effectively served the US customers through exclusive telecommunication service. From the foundation of AT&T by Graham Bell to the modern era, the global telecommunication industry has astonishingly evidenced various key events of the organization. This part of the study will determine the corporate level strategies of AT&T. Corporate Level Strategies Telephone was introduced by Graham Bell in the year 1875. After the successful establishment, the organization has diversified their business operations in various emerging global market place. AT&T follows vertical integration structure in the organization.

Define the concepts 'realism', 'fantasy', and 'utopia' Essay

Define the concepts 'realism', 'fantasy', and 'utopia' - Essay Example Realism Realism is widely-known since it contains cosmopolitan elements most people would agree to be the truth. It is a concept used to rationalise everything in the world, unifying how everyone sees reality through measurable and specific attributes (Morris, 2003). However, realism is not fully grasped by every individual due to innate differences. Each person experiences some parts of reality but not fully, making individual persons and their existences separate from absolute reality. This detachment from absolute reality is constant through time and space. Because each person has a unique set of experiences and memories by being in various places and periods in time, it would be impossible to say that how a person sees reality is the absolute truth since a person’s collection of knowledge and memories affects how reality is felt and experienced (Berger, 2008; Searle, 1995). It false to assume one person sees ultimate reality, but is socially acceptable that every person se es reality according to how one reacts to it, believing this to be the truth. The idea took a long time to form and even longer time to conceptualise due to difficulties in uniformly defining realism and reality. Before realism was coined, cultures come to accept everything simply what these things seem to them without any further questioning. The advent of Enlightenment and Scientific Revolution started people questioning what reality is, and defines this further through the growth of various fields of knowledge such as sciences and humanities. This makes it easier to create a representation of what reality truly is by delineating what defines something real and what makes it unreal, as agreeable to the majority. However the emergence of a culture giving priority or power to entities bearing the highest amount of money or capital such as rich or influential people skewed this balance of equal opportunities in presenting individual realities, giving them greater capacities to delive r their ideas and perceptions of their own reality to others compared to those lacking resources to do the same. If the powerful person or entity communicates its reality in attractive forms like literature among impressionable people with limited experiences, these audiences will be convinced of its absolute truth, twisting the people’s individual perception of realism and taking its face value for convenience. But people who totally reject and disagree with this reality do so because they either have an entirely different sense of realism based on their own experiences, or they already created opposing belief systems far from how powerful entities sell their reality. This keeps distrusting people unresponsive to mass-produced reality and fully aware of its differences with their own, shaping their own senses of realism. Fantasy and Utopia Realism has its antitheses: fantasy and utopia. For many, fantasy is something unchained, imaginary and a form of escape from one’ s insight on reality (Jackson, 1981). In this made-up world, ideas and thoughts are not confined by others’ definition and view of reality. Impossible things in realism is acceptable as true or absolute in fantasy, including the reversal of social codes, gender, good and evil, or anything most people find troublesome in the reality they experience. Fantasy bluntly or subtly rejects the reality in most people by showing the

Agency and partnership law Case Study Example | Topics and Well Written Essays - 3500 words

Agency and partnership law - Case Study Example The scope here is primarily to evaluate understanding a specific case as described in the following section and offer necessary advise to ADC, one of the parties involved based on applicable laws and legal liberty. In order to advise ADC of their rights and obligations, it is important to focus on the effect of contract made by the agent Andrew, his status in terms of authority based on agreement, his duties towards the principal and his right towards the third party. A thorough and detailed analysis and interpretation follows in the forth coming sections.ADC Ltd is a company needs 20 sets of Model XXP computers by Christmas 2009 by spending no more than 20,000. Dan is the sales assistant from PC Express, who offers Andrew 20 sets of the new Model XXP Plus computer at a discount price of 30,000. Andrew is sure that ADC Ltd would want the new model of computer rather than the old model and asked Dan to wait for an hour so he can speak to ADC Ltd in order to get the permission. He disc loses that this order would be beyond his power and he is only acting as the agent. When Andrew rings Dan back to confirm the order he is asked specifically whether he received consent from ADC Ltd, Dan is told that it has all been sorted and that permission has been given, the order is made and the goods are delivered. However, Andrew did not in fact seek permission from ADC Ltd, he did ring but no one answered the phone call. Considering he had to contact Dan from PC Express in an hour, he concluded the deal before the written or oral permission from ADC Ltd.... He discloses that this order would be beyond his power and he is only acting as the agent. When Andrew rings Dan back to confirm the order he is asked specifically whether he received consent from ADC Ltd, Dan is told that it has all been sorted and that permission has been given, the order is made and the goods are delivered. However, Andrew did not in fact seek permission from ADC Ltd, he did ring but no one answered the phone call. Considering he had to contact Dan from PC Express in an hour, he concluded the deal before the written or oral permission from ADC Ltd. After Christmas, ADC Ltd asked Andrew to buy another 35 sets of Model XXP computers due to the expansion of the business. James owns a company involved in the production of computers and his business is mainly on importing computers from China and reselling them to the customers in the UK. James has just imported some Model XXP Computers from China. Knowing that Andrew often works as an agent for many companies in the computer business he contacted him with the purpose of concluding a contract. James is aware that Andrew works as an agent for ADC Ltd. However, James does not want Andrew to contract with him on behalf of ADC Ltd as the agent as in every previous transaction ADC Ltd has been very late in making payments. Andrew is aware of the previous problems and of James' current instructions. Andrew enters into a contract with James and signs the contract 'as the agent' for an unnamed purchaser. Some weeks later James discovers that the Andrew contract with him on behalf of ADC Ltd and he pulls out of all future obligations under the contract on this basis. 2.

The Diamonds (authorJ. Sorie Conteh) Essay Example | Topics and Well Written Essays - 500 words

The Diamonds (authorJ. Sorie Conteh) - Essay Example Conteh first indicated the cabinet in which de Seve had kept the money and then proceeded to trace the thief back to the servants' quarters and to his very bed even indicating the side of it on which he had usually slept, information corroborated by his former bedmate. (Conteh, 33-90) The Divinity of the lieutenant-general devised another test of Conteh's abilities. Calling him into her drawing room, she asked Conteh to determine who had stolen money from a certain Diviner, one of the witnesses present. It was a trick question, however: she had taken the money herself. Conteh searched the room and announced that he did not believe a theft had occurred. She asked him to look again and he gave the same response as before but added, apparently rather coldly, that if there had been a theft it had been committed as a joke and in an innocent manner; his talent, he claimed, worked only when he tracked real criminals. (Conteh, 33-90) We can picture a long, solid line of matter from the object to the eye, an instrument designed specifically to filter such information. This sort of explanation can also be utilized to show how heat can be transferred, for example, from a candle flame to a hand.

Agency and partnership law Case Study Example | Topics and Well Written Essays - 3500 words

Agency and partnership law - Case Study Example The scope here is primarily to evaluate understanding a specific case as described in the following section and offer necessary advise to ADC, one of the parties involved based on applicable laws and legal liberty. In order to advise ADC of their rights and obligations, it is important to focus on the effect of contract made by the agent Andrew, his status in terms of authority based on agreement, his duties towards the principal and his right towards the third party. A thorough and detailed analysis and interpretation follows in the forth coming sections.ADC Ltd is a company needs 20 sets of Model XXP computers by Christmas 2009 by spending no more than 20,000. Dan is the sales assistant from PC Express, who offers Andrew 20 sets of the new Model XXP Plus computer at a discount price of 30,000. Andrew is sure that ADC Ltd would want the new model of computer rather than the old model and asked Dan to wait for an hour so he can speak to ADC Ltd in order to get the permission. He disc loses that this order would be beyond his power and he is only acting as the agent. When Andrew rings Dan back to confirm the order he is asked specifically whether he received consent from ADC Ltd, Dan is told that it has all been sorted and that permission has been given, the order is made and the goods are delivered. However, Andrew did not in fact seek permission from ADC Ltd, he did ring but no one answered the phone call. Considering he had to contact Dan from PC Express in an hour, he concluded the deal before the written or oral permission from ADC Ltd.... He discloses that this order would be beyond his power and he is only acting as the agent. When Andrew rings Dan back to confirm the order he is asked specifically whether he received consent from ADC Ltd, Dan is told that it has all been sorted and that permission has been given, the order is made and the goods are delivered. However, Andrew did not in fact seek permission from ADC Ltd, he did ring but no one answered the phone call. Considering he had to contact Dan from PC Express in an hour, he concluded the deal before the written or oral permission from ADC Ltd. After Christmas, ADC Ltd asked Andrew to buy another 35 sets of Model XXP computers due to the expansion of the business. James owns a company involved in the production of computers and his business is mainly on importing computers from China and reselling them to the customers in the UK. James has just imported some Model XXP Computers from China. Knowing that Andrew often works as an agent for many companies in the computer business he contacted him with the purpose of concluding a contract. James is aware that Andrew works as an agent for ADC Ltd. However, James does not want Andrew to contract with him on behalf of ADC Ltd as the agent as in every previous transaction ADC Ltd has been very late in making payments. Andrew is aware of the previous problems and of James' current instructions. Andrew enters into a contract with James and signs the contract 'as the agent' for an unnamed purchaser. Some weeks later James discovers that the Andrew contract with him on behalf of ADC Ltd and he pulls out of all future obligations under the contract on this basis. 2.

American government Essay Example | Topics and Well Written Essays - 500 words - 4

American government - Essay Example United States is still recovering from the most recent economic recession which requires proper formulation and enactment of policies. The government targets a Gross Domestic Product increase of 2.5 per cent in 2014. This paper therefore targets to discuss various reforms and strategies the government can undertake to improve the current economic situation. The first strategic government intervention towards economic growth can be reform of the immigration sector. It is difficult for foreign entrepreneurs to stay in the country because the government has set very many conditions that restrict their entry. Bureaucracy in allowing entrepreneurs and skilled immigrants into the country is so complex to the extent that it is delaying economic recovery. Bureaucracy is costing the nation job opportunities hence reducing the country’s GDP and also harming the nation’s international leadership in entrepreneurship and innovation. The government should adjust its policies on granting green cards to promising entrepreneurs and skilled graduate students. Moreover, it needs to pass the Dream Act to allow law abiding people brought to the United States as children to become citizens. The second government intervention can be cutting costs incurred in healthcare. In the recent years the government’s expenditure on health has risen with a very big margin. The country cannot afford to ignore this trend anymore. If this system persists, a large proportion of the countries income will be deviated to medical care which may not sustainable and will creates a burden on the future generations. The government should initiate a vigorous campaign for healthy lifestyle; develop new ways to manufacture drugs at a lower cost and a technology that can reduce expense on doctors and other medical personnel. This can be achieved through technological advancement and financing research