There Is No Merit in Having Different Tracing Rules at Law and in Equity Free Essay Example, 2250 words

Mrs. Jones paid into that account a total of stlg11, 700 in the form of cheques to be drawn on the partner's account. Her business in the potato future was highly profitable and she received 50,760 in the form of cheques from the commodity brokers. She paid these cheques into a deposit account in which she was having a balance of 49,860. The trustee sued claiming this money arguing that he had legal title. The case went up to the court of appeal and the court held that the money in the call deposit account that remained was to be paid to the trustee in bankruptcy although this was the profit. Millet LJ in his view held that this was a proprietary claim and to him, money had not been mixed and hence property did not pass to Mrs. Jones. He held that money had and received action ought to be limited to that amount received but however, the trustee in this case did not make a proprietary claim other than a personal claim. Millet LJ seems to have reasoned that the plaintiff could stil l be able to identify the money in the defendant hands although she had already invested the money that she had received in from the commodity futures. We will write a custom essay sample on There Is No Merit in Having Different Tracing Rules at Law and in Equity or any topic specifically for you Only $17.96 $11.86/page Jones had received 11,700 and that at the time of receiving the money, the plaintiff had title to that money. In the case that the court could have followed this reasoning, then it would definitely have been irrelevant to consider whether the trustee retained the property in that money after Mrs. Jones had received them.

Case study Stermon Mills case Essay - 1039 Words

What recommendation would you make to Mr. Kiefner? On what basis would you try to persuade him that your proposal is best for Stermon Mills? From my analysis it emerged that the best option for Stermon Mills Inc. is the Option 2, which is moving machine #4 to a one week cycle and run through the existing grades every week instead of every two weeks. The main reason that should convince Mr. Kiefner to look at reducing the cycle time is due to a customer requirement. Elly Ryesham, from the Sales Department, realized a straw poll of the sales force to understand what the most important things are for their customers. I have analyzed those results (see Exhibit 1) and converted the A,B,C†¦ grades to numbers (A+= 4.33, A=4, A-=3.66 and so on†¦show more content†¦There are two main potential issues with this approach. By reducing production lead times a company would likely increase manufacturing costs, but this increase should be leveraged by the increase in demand. The other issue would be the drop of the utilization rate by ten percent using this method. The key would be training the staff to implement faster change-times, which is not an impossible achievement. Due to this last potential issue, the ideal strategy that Stermon should adopt would be a combination of Option 2 (One cycle week) and Option 4 (Labor multi skilling). The Option 4 would definitively improve the effectiveness of the labor in the plant, and it would benefit the change over time reducing it. However, if we look at Saugoe’s notes about the combination of improvement plans we can appreciate that adopting Options 2 and 4 at the same time might cause a lot of discontent if people were asked to change over faster as well as performing multiple functions. Therefore we believe that going with option 2 alone is the best solution to Stermon’s problems. Option 1, doing a much broader range of basic weights would certainly satisfy those customers who value the customization and tailoring. However, the survey of sales force tells us that this requirement is not the top priority for Stermon at the moment, being after the responsiveness in delivery, a broader product line and having helpful and flexible sales people. Moreover,

Umok Free Essays

Evil Through Imagery It has been said for a long time that the only thing to fear is fear itself. It is easy to see that the boys become subject to their own illogical fears. In Lord of the Flies, by William Gilding, Imagery Is used to describe the Island and the characters themselves In dark and mysterious ways. We will write a custom essay sample on Umok or any similar topic only for you Order Now Imagery Is also used as a way for the boys to create the beast and make it external as well as internal. There are several instances in the novel where people are described using ominous language. When Jack and his choir are seen for the first time they are scribed as a ;creature†¦ Room throat to ankle, hidden by black cloaks† (19). The choir’s first Impression suggests that their purpose In the novel Is antagonistic In nature. Gilding’s imagery automatically Identifies the characters In story that are associated with the more evil aspects of human nature such as fear and violence. Later in the novel, it seems that the older boys only become worse, with fear growing in them like an uncontrollable weed. It is noticeable when Jack starts disguising himself â€Å"[looking] in astonishment, no longer at himself but at an awesome stranger†¦ He face of red and white and black† (63-64). In his slow submission to fear, Jack Is becoming another person entirely from the boy who Initially crashed on the island and It Is shown literally here by him painting his face and changing his identity. The fear created on the island, in the form of the beast, is exposing Jack for what he really is, which is demonic and wicked in nature. Gilding uses imagery often to describe the malicious intent of characters throughout the novel, but he does not only describe characters in this way. The island on which the boys are stranded on Is meticulously described in the kook and most of the words used to Illustrate It are grim at best. When Gilding describes where Piggy and Ralph first find themselves, he describes the ground as â€Å"covered with coarse grass, torn everywhere by upheavals of fallen trees, scattered with decaying coconuts and palm saplings. Behind this was the darkness of the forest proper and the open space of the scar. † (9-10). Already, the island, though it has done no wrong, is becoming a canvas on which Gilding can paint his picture of doom and despair. Small things, such as this, are described assiduously through the inure novel. This Is used to give perspective and show cause to why the boys do what they do, among a variety of other things, the boys are reacting to their environment which is portrayed with no less than a vulgar light. When the boys go on their first expedition, which results in them pushing a boulder over, â€Å"the forest further down shook as with the passage of an enraged monster† (28). Gilding describes the devastation of the forest like this with a purpose, he is alluding to the fear that later controls the boys, or the beast. The disturbance of the peace from the the scar. Simple items on the island are portrayed much more villainous than they actually are for the purpose of showing what the boys have done to the island by corrupting it’s innocence and peace with their naturally wicked human nature. The author makes use of both the image of characters and the setting of the island to show that humanity can turn anything into something foul, even a beautiful and untouched island. The imagery does not stop with the island and the characters, it also creates the very beast which leads to some of the characters downfall. When the twins first see he horrible beast they describe it as â€Å"furry. There was something moving behind its head-?wings. The beast moved too-? That was awful. It kind of sat up†¦ There were eyes-? Teeth-? Claws-?† (100). At this point in the novel, rational thinking has become scarce and is only really found in Piggy and Simon. Sam and Eric truly believe in what they saw and their grisly description only acts as a catalyst for the other boys descent into madness from the fear. Since Simon is not effected by the illusion of the beast, he understands that the beast is not real but the Lord of the Flies corrects him â€Å"Fancy hinging that the Beast was something you could hunt and kill!†¦ You knew didn’t you? † (143-144). Gilding’s imagery brought to life a character that is really Just the embodiment of the horror and destructiveness in the boys, revealing what the authors true beliefs about human nature are. Though, he does not seem to think that man kind is entirely uncontrollable. Simon is used as a beacon of hope and good intention. Simony’s death is also very unique, using light imagery to state how Simon was the only light in the darkness all along. Towards the end of the novel, the beast comes very real, more than Just a figment of the boys wildest and darkest fears. In conclusion, imagery describes human kind’s nature through the characters, the island, and of course the beast or fear in the boys. The scary images used in the novel make it very easy to see why the boys went against each other in the end, proving that humanity is it’s own worst enemy. Overall, the author’s opinion about human nature influenced every facet of the novel and how it was written, but of course the most obvious expression of Gilding’s opinion is seen in the imagery. How to cite Umok, Papers

An Overview of the Financial System

Question: How can the adverse selection problem explain why you are more likely to make a loan to a family member than to a stranger? Answer: The stock prices are directly linked with the capacity of the business to make investment in the business. The lower the share price for a firm that means the amount of funds raised would be less as the total collection from the investors will fall and thus the investment in the assets such as plant and equipment will fall and there will be a decrease in the funds cycle of the company. But it will be noticed that if the company has good fundamentals then the effect on the prices will not hamper the investment as the investors jump to buy at a lower price and the quantity would go up leading to the balancing property.The rise in the interest rates would surely effect the decisions of the business houses as well as the consumers as they will be more aware of the spending that are to be done from the borrowed funds. The business houses will decrease their investments plans and would try to cut down their investment expenditure during the phase of higher interest rates as well as the con sumers would be less likely to buy cars and houses because the cost of finance would be higher for them and hence they will not go for such investments. The rise of interest rates affects people in an opposite manner and all are not worse off with this rise. The payers are worried and the receivers are happy. So the ones that have an obligation to pay would be worse off as they have to pay at a higher rate but the ones that save are benefited as they will get higher rates for the same. Therefore it is a mixed effect on people due to the rising interest rates and not only worse off. If the dollar is costlier than the other currencies it implies that the buyers of the countries other than US will have to pay in dollars for which the foreign currency value will be much more and they have to pay higher of their local currency for the jeans so it will be costlier for them and hence they will prefer to buy the foreign jeans rather than the American jeans as it will be costlier to buy the American jeans for them. The US companies that manufactures jeans would be targeting the foreign customers and hence they will wish for weak dollars so that the buyers would find it cheap to buy the US jeans and if the dollar is strong it will impact the pockets of the buyers in a negative may and will not be suitable for them The company that import jeans into US from other countries would wish that the dollar remains strong so that it has to pay less of US dollars for importing the goods. If the dollar would be strong the outflow would be less and the imports would be cheaper. If there is a suspicion that the company will be bankrupt in the times to come then the investors would be interested to hold the bonds before the equity shares because the bonds would be redeemed prior to any other equity or capital. The equity holders are mostly paid the residues left paying off the other liabilities for the company. This statement is false. Prices in secondary markets determine the prices that firms issuing securities receive in primary markets. In addition, secondary markets make securities more liquid and thus easier to sell in the primary markets. Therefore, secondary markets are, if anything, more important than primary markets for the firms and there is no such thing that the secondary markets are irrelevant for the business houses. The allotment of loans plays a very important role in the credit rating system of the lenders. The adverse selection problems arise in the case of the people that are unknown to us and that are not in the case of unknown people. This is because you know your family member better than a stranger, you know more about the borrowers honesty, propensity for risk taking, and other traits. There is less asymmetric information than with a stranger and less likelihood of an adverse selection problem, with the result that you are more likely to lend to the family member. The rise of the limits of the amount of the loans that would be given to the customers for the insured loans would help the security to be sure for the amount of money lend by the banks as during the time of recession if the banks fail then it will be a loss so to insure that the customers bankruptcy does not affect bank the insured amounts were increased by the US government Answers 14 Year Cash flow PV (10%) 1 1100 1000 2 1210 1000 3 1331 1000 PV 3000 15 Years To Maturity 5 Yield To Maturity 6% FV of Bond 1000 $ 747.26 16 Year Cash flow PV(10%) 0 2000000 2000000 1 2000000 1886792.453 2 2000000 1779992.88 3 2000000 1502629.602 4 2000000 1366026.911 PV $ 85,35,441.85