Response to Coments on DQ1 JS and DQ2 MBw7 Essay

Response to Coments on DQ1 JS and DQ2 MBw7 - Essay Example As you mentioned a company can wipe off the balance sheet a portion of its debt by converting the bonds. The bondholder also benefits in case of a conversion because the investor benefits from all the coupons payments that were received and from the equivalent value in stocks which can be converted into cash by selling them in the open market. DQ2 I agree with you that convertible bonds are a win-win proposition. The bondholder benefits when the bonds are converted into common stocks because the investor would be trading in a principal bond balance which was not liquid for an asset that is extremely liquid due to the fact that common stocks can be sold in the open market instantly. I once owned some common stock of Wal-Mart. When I needed some money I called my broker and he sold my common stocks the same day I placed the sale order. Common stocks are a liquid asset. The cash in the form of coupon payments that the bondholder received represents an added benefit for the bondholder. T he company that issues convertible bonds benefits from the flexibility that convertible bonds provide. Convertible bonds are great investments options that provide the investor with the best of both the equity and debt market (Little, 2011). References Investopedia.com (2011). Convertible Bonds: An Introduction. Retrieved May 18, 2011 from http://www.investopedia.com/articles/01/052301.asp Little, K. (2011).

Authenticity Indigenous Media Essay Example for Free

Authenticity Indigenous Media Essay â€Å"Authentic† is a double-edged sword. Discuss this statement using at least 2 indigenous media examples. How can something be a double-edged sword? How can something be harmful and at the same time helpful? We are currently living in the 21st century; there have been many lives that lived on this earth before us. These lives have done a lot of work that have got us to where we are today. This being said it is so hard to think of something new to come up with when it has probably been done before in the past in one way or another. According to dictionary. com authentic means â€Å"not copied, false, original. † To the dominant culture being authentic means coming up with something new to show the world but because, often words have more than one definition, being authentic does not always mean inventing something new to show the world. In fact, to indigenous groups it means keeping their beliefs, everyday activities, culture, etc intact. It is keeping everything they know their ancestors did and what their parents taught them to do without improvements or change. In this essay I will be comparing different indigenous groups and how the meaning of† Authentic† can be a double-edged sword to these indigenous groups. For indigenous groups being authentic is critical. Not only because it is important for them to keep their culture intact but also because it is an effective political tool. This political tool can help them negotiate land, which is one of the most important things for them because it is the main tool of survival. Many critics argue that even though these tribes are isolated they are not untouched by outsiders therefore they are not indigenous, they are just isolated groups. Video in the village’s project has been working with many tribes such as the Nambiquara, Caviao, Tikuna, Kijani Iakaha and Kaiapo. Their goal is to introduce them to the art of film so they can preserve their culture and find their identity within themselves. They have done this by giving cameras to various indigenous people themselves teaching them the basics of how to record. These people have been given the chance to record what they want to see about themselves and what they think is important to communicate to the world. Although it was a long process that took a lot of work and patience, many villages have had success. For example the Kijani Iakaha group recorded a regular day in the village where in the beginning of the film the women are lined up so they could get pat in their backs and their stomachs with a wooden stick. This, to them, represents protection; it helps their women throughout their pregnancy. They also show some of the habits they have such as picking each other’s ticks out. They also follow the regular activities of other indigenous villages. They send the kids to fish, the women stay in cleaning, cooking and watching the smaller children and the men go out to hunt. They make use of their land by planning and hunting so they can provide goods for themselves and their family. Even though these people are wearing items that belong to the dominant culture they still do what indigenous groups do. The only difference that can be taken out of the villagers is what they wear and some of their traditions; women are wearing skirts and men are wearing shorts. When indigenous groups decides to make a change to their culture it becomes harmful because it gives the government proof that these people have had contact with the dominant culture. In the article by Beth A. Conklin, Body paint, feathers, and VCRs: aesthetics and authenticity in Amazonian activism, he states, â€Å"The first, obvious idea is that outsiders (anthropologists included) tend to see complex western technology as a corrupting force that undermines traditional cultures. Real natives dont use VCRs. † Many people argue that if indigenous people work with the camera their focus is no longer in trying to keep their culture and origin instead it is to try to look good for the camera that would potentially lead to a change in their culture. The reason why it is a big deal if these tribes are up to date with the dominant world is because being indigenous gives them special rights, such as land right and political rights. When exposed to technology which essentially means they have been exposed to society they are no longer innocent and â€Å"original† they are now exposed and experienced. This, once again, creates doubts about their originality. To the eyes of the government if they are up to date with the dominant culture they are just taking up land that real indigenous people could use. According to the government and the dominant society an authentic indigenous group is that which does what the typical stereotype of an indigenous group does. They use paint to paint their bodies in a way which they can express themselves; a lot of the groups do it for special occasions such as ceremonies and different rituals. They have different rituals that represent who they are becoming. This is not always true. In the film Signs don’t speak the people in the group are wearing regular clothes yet they still behave like other indigenous groups. They still dislike white man because according to them these only bring harm. One of the villagers quotes â€Å"My father told me white man would come to take over our land. † In this film the villagers talk about an encounter they had with the white man. They thought that they would only stay and work for a short time but they end it up staying longer, working hard and destroying their land. They are well aware of the stereotypes people have about them, they prefer to stay away from one of their biggest threat, white man. In the other hand in the film video cannibalism the villagers are walking around naked, fulfilling the stereotypes, making vulgar jokes that to them have no vulgar intention and with paint all over their bodies. This group has no complications with the government because to the government these are the true indigenous people. At best, indigenous groups begin to understand how they are different from not only the dominant culture or other indigenous groups but themselves as well. It can also confirm the stereotypes many people believe making it almost impossible for these to be changed for future generation. Being authentic can be harmful because it can limit indigenous groups from self-determination and development. Authenticity can be helpful because maybe in some cultures having a primitive way of life restores some of the good interactions between people. There is not as much drama and people’s views can be heard more easily. Stereotyping brings about hardship for certain cultures, however, a culture may learn to embrace stereotyping and not be hurt as much due to the fact that they are primitive and do not have to understand what media says about them. Their portrayal is to people that they probably will never see. Technology could be what is saving these cultures from many hardships that are in modern society today. An authentic indigenous culture does not have to bear the economic difficulties that modern societies do. In the end, many cultures are indigenous, but according to what the modern society defines as authentic, modern society can have the power to say that a group is not original and therefore just aboriginal, meaning they still have the technologically advanced capabilities, but choose not to use them. Work cited Dictionary. com. Dictionary. reference. com. LLC. 2012. Web. 14 March 2012 Video in the Villages. Dir. Vincent Carelli. Documentary Educational Resources. 1989. Film. Conklin, B. A. Body paint, feathers, and VCRs: aesthetics and authenticity in Amazonian activism. JSTOR. org. JSTOR. 1997. Web. 14 March 2012. Signs Don’t Speak. Dir. Vicent Carelli, Dominique Gallois. Documentary Education Resources. 1996. Film. Video Cannibalism. Dir. Vicent Carelli. Documentary Educational Resources. 1995. Film.

Economic Theory Essay Example for Free

Economic Theory Essay Two of the primary tasks in the world of Economics are prediction and evaluation. This assignment illustrates, at a rudimentary level, how models, techniques and methods constructed or borrowed from Economic Theory or other Sciences respectively are used to help accomplish these tasks. To do so, we consider a standard theoretical model of consumer choices in an economy in which the only activity is the exchange of goods. Due to the above-mentioned we can say that the most powerful technique used to predict the consequences of policies or future trends is modeling. A model is an abstraction intended to convey the essence of some particular aspect of the real world. Most economic models assume the existence of adequate information, yet information is a costly and scarce resource. Good models predict well enough to increase our understanding of certain situations, even though they may not predict them perfectly and there may be related situations in which the same models do not predict as well as expected. Last but not least there are models that constructed without using any numerical data; these are based entirely on economic theory. We shall begin by looking at some of the ways in which forecasting techniques can help us to predict future trends. Most business and economic decisions rest upon forecasts of future conditions. Methods of forecasting may be roughly categorized as follows: * Opinion polling * Mechanical extrapolations * Barometric techniques * Statistical and econometric methods Finally, forecasting techniques vary widely in their accuracy and sophistication. The most accurate technique is to be preferred, subject to the availability of data, expertise and finance and to the nature of the  forecast required. OPINION POLLING The assumption here is that by asking people who are likely to be directly involved, such as consumers or the sales force, attitudes and opinions which affect economic decisions can be assessed and predicted in advance. Opinion polling is a subjective method of forecasting made up largely of a weighted or unweighted averaging of expectations and attitudes. This general idea of developing informed and deliberated polling opinion has had a relatively length history successful experimentation beginning roughly during the 1970s in the U.S.A. In statistics polling is about probability sampling. A good poll: locates people who fairly represent the population were interested in; asks them fair, comprehensible and useful questions; calculates results fairly, without reaching beyond the data; and  is reported so people can understand where it does and does not apply. The importance of opinion polling and the way it can be done is shown in the below Figure: Opinion polling is a very powerful technique used to predict future trends. Based upon probability sampling it can give people many answers upon many problems in the society. Depending on the size of the sample, the results are relatively accurate, scientific representation of the entire publics considered opinion on perplexing issues. Today there are a lot of companies which provide a wide variety of consultancy services and offer top quality research based solutions to their clients problems. They also provide full service market research process, from defining research objectives through analysis and presentation of data. To achieve their goals they use research methodologies, advanced statistical analysis and strategic relevant and decision reports. Their credibility and reputation is reflected in the fact that their publicly released findings are regularly quoted by the media (press, radio and television). Additionally, these companies are leading agencies in Socio-Political public opinion polls and Political Candidate Evaluation research. Another aspect of opinion polling is exit-poll. For example scientists use exit-poll method to predict who is going to win in elections. The exit-poll method is not 100% accurate, but the error between the real results and the ones from exit-poll is very-very small. Asking a small sample of population inside a society it can predict whether the conservative of socialist party is going to be elected. Finally, opinion polling is also used by companies to know which product of theirs is more consumed by people. Asking a small sample of people using questionnaires (more often) they can realize which product of theirs is more consumed by people, which product are less consumed and tries to find means of improvement for others. MECHANICAL EXTRAPOLATIONS This is probably the most frequently adopted method of forecasting. It involves the basic assumption that past patterns of economic behavior continues to the extent that past behavior can be used to predict the future. It has the attraction of also being relatively cheap in that the company is likely to posses most of the relevant historical information. Last but not least, the mechanical methods of forecasting rely on future conditions being an extent of past ones. Also, this method might consist of taking a time series of historical sales figures, and fitting a trend line to it by eye as shown in the figure below: This can then be used to read off sales predictions for the required future dates. To produce this line between the dependent and independent variables of data, as shown in the above figure, the ordinary least-squares (OLS) technique uses a mathematical formula to illustrate this line. However, the technique also produces a measure of the explanatory power of the relationship on the basis of the relationships observed in the original data. A mathematical formula for producing this line is: Where a and b in this equation have been estimated using regression analysis (a set of statistical techniques used to quantify the relationship between two or more variables). BAROMETRIC TECHNIQUES In addition with mechanical extrapolations, barometric techniques assume that present happenings can give an indication of future events. Also, this technique is based on the observation that there are lagged relationships between many economic time series. Moreover, to give an indication of future events, there are three types of indicators as far as economic activity. Leading indicators are those which tend to herald future changes in the course of business activity. Coincident indicators move in step with the cycle; examples of these might include aggregate levels of sales, employment and industrial production. Finally, there are lagging indicators, which trail behind the level of economic activity. Although it is possible to isolate various leading indicators the direction of movements in each does not presage movements in economic activity with complete accuracy. The reason is that the lead-time between their behavior and the ensuing change in economic activity is not likely to be constant. Nowadays, many companies who want to see which of their product is more consumed by people, they make a statistical figure in order to calculate this. Using barometric techniques they can find which product of theirs is more consumed by people, which is not going too well and try to give improvements for others. So, they can indicate from present happenings, how a product can be in the future. STATISTICAL AND ECONOMETRIC METHODS Science is given as truth ascertained by observation, experiment, and induction. The purpose of science known as statistics is to provide the means for measuring the amount of subjectivity that goes into the scientists conclusions and thus to separate science from opinion. Hence, statistical and econometric methods, similar to those used in time series regression can be used to analyze the economic relationships between variables. Many of the firms forecasting problems can be solved with a single equation econometric model. Laws of probability are applied to this model in order to determine what chances are for the various possible outcomes of the experiment. The first step in the construction of such a model is to specify the hypotheses, which purport to explain the relationships between the variables. Hypothesis testing is the process of inferring from a sample (a collection of some elements of a population) whether or not to accept a certain statement about the population. The statement itself is called the hypothesis. When the model is constructed it gives the businessman the opportunity of experimenting to test the predicted results of various strategies. There is a vast variety of companies offering a full-service market  research which means the capability to successfully undertake any research project from the conceptual stage through the design, data collection, tabulation, analysis, interpretation of findings, recommendations, and presentation. The projects they undertake span a broad array of industries, types of studies, experimental designs and analytical statistical techniques. They are skilled in the wide variety of quantitative and qualitative techniques, providing their clients with a seamless connection between all phases of the research program. Their full range of custom research for Consumer and Business to Business research includes the following: * Tracking studies * Product testing * Taste testing * Home-use tests * Advertising research * Strategic research * Product Positioning research * Concept tests * Customer satisfaction tests * Etc.

How Does Child Labour Effect Society Young People Essay

How Does Child Labour Effect Society Young People Essay In order to overcome our daily living needs we need to work and earn according to individual capacities. In a healthy society individual perform their role according to their age, capabilities and health condition. In contradiction to this, many of the children are deprived of their basic right of freedom and education and they are compelled to start work in a very early age. They are paid very less so they start to work long hours in order to full fill their needs. This causes compromise in normal physiology. So it starts to affect every aspect of life from health, education and off course the socioeconomic status, thus automatically affecting the family and the whole society. According to Freedman (1998), Child labor is Work done by kids full-time under the age of 15. Work that prevents kids from attending school, such as unlimited or unrestricted domestic work. Work that is dangerous for kids and that is hazardous to their physical, mental or emotional health. There are number of children who are engaged in different kind of labours. According to International Labour Organization (2009), in Pakistan there are 40 million children age between 5- 14 years and among them 3.3 million children are engaged in labour. There are many serious social issues which are not yet addressed properly and not getting attention from the public, media and the government. Child labor is one of them. I would be highlighting few of the impact of child labour on the society with the help of a story of a boy who suffered from child labour at the age of 8 years. This story was told by one of my friend. I was born in a very low socioeconomic class. I am the only son to my parents and elder to my three sisters. My father was a laborer and worked for a company on a daily wages. Still we were spending prosperous life in our limited resources and I had the opportunity to get admission in a school. It seemed that education and comfort was there for my first eight year only as my father expired on road traffic accident. After this tragic movement my mother who at that time was expecting fourth child started working for the same company to overcome our financial needs, but she couldnt continue it for longer and has to quit it as she had end up with serious gynecological issue which I hardly remember. One my relative suggested my mother to send me to work as she thought that was healthier than my mother and can earn enough if worked with dedication so I was referred to a gentleman who had an automobile workshop near by my house. I had cross by this workshop multiple times but didnt ever think of the life there. So many MACHINES (which I call it at that time), three men wearing unique costumes busy in fixing things together, very strong smell of different nature which couldnt stop me to cover my nose for a while till one of them asked me to come to him in his autocratic voice. The sooner I get there he asked me wash an instrument and instruct me not to make it fall. That was so slippery but I did manage to wash it and get a smile from him. This helped me to believe that they are also human being. By the end of the day I get my first pay for the day which at that time my mother thought is enough for us and it was wise decision to quit mu school and get into job. Oh yes I did show my dedication towards my work and by the time I was ten years old I had started to do overtime twice a week to overcome my familys increasing need. I get very much used to the routines and was able to do stuff like cleaning, oil application and fixing very easily, so it was easy for me to work for longer hours without any complaints. I was able to handle scolds and verbal abuses from my seniors and was luckily safe from an accident in which I could have lost my right arm. Things never remain the same and I have entered in my late twenties no more dedication to work and family, I have chosen my own way which gives me pleasure and Im not alone as well, have my own group of deprived friends. We work for a person to transport opium to different places, he is happy with my work provide me all the drugs without witch I cant think of life. I have no regrets and I think I was born to get here. This issue has a great negative impact on individual and family life. It starts to effect health right from the beginning where the working environment comes. The environment plays a very crucial part in maintaining optimum health especially in early developmental age. In this age a child is very much susceptible to catch infections, acquire unhealthy behaviors and at a very much risk for physical and mental disability. Lawrence (2007), Healthy children grow into healthy adults. The health of our children is one of the most important investments that we can make and should be among our top priorities. In the above story the person is not playing its role as a healthy individual e.g. getting into drugs not only spoil his own health but also harmful to others. Not supporting the family can be cause of another social issue that his sisters may involve in other unhealthy practices for their survival. This becomes an unbreakable chain, unless it is addressed at family society and country level. There are many causes of child labour e.g. poverty, illiteracy and least concerned parents. But to me the most important cause of child labour is the economic instability of the country. In an economically stable country there would be no unemployment issues, people will get proper salary secured job, health and education benefits. There are certain situations in which accommodation and negotiation is difficult but not impossible, like the example of the child in the above mentioned story he was left with no other option except to get a work and to support the family. Serious action taken by the family and the country starting from base could help reduce in child labour. In need child can work but its his right that he should be provided particular hours and adequate salary by the employer so that there will be no need of overtime and he has the time to rest and prevent exhaustion. If these issues are not taken care it start to affect the economy of a country as a whole, and there wi ll be no contribution by the people to countrys economy. People will be living in hand to mouth condition and will be not able to identify countrys strength and hidden recourses causing economic recession and affecting whole society as well as globally. Least concerned parents, illiteracy and unawareness these are all directly linked to educational level of the society. Uneducated parents do not understand the value of education and have no priority for it. Without knowing the consequences they encourage their children to engage in labour and quit education which hinders the society growth by providing less educated people. Thus people become resistant to change and there is no advancement in the field which they are working. In this way the country is deprived of their human power. Parents education also counts when it comes to speak for their right and they can identify that if their child is being misused by the employer or the child is getting in to unhealthy habits. In Pakistan the Employment of Children Act 1991, describes almost all the condition in which a child can work and prohibition of work in certain hazardous environment and long working hour. According to Pakistan National Statics, more than two-third of child is working in the agricultural sector, 1.2 million Children are bonded in the carpet factories.   35 million soccer balls stitched in Pakistan, children produce one quarter of the balls, most of them as bonded servants. Child labour does affect the whole society in every aspect. Making the law is the not the solution is not the solution to overcome it. The law should be practical enough so that it can be practiced. It has to have a check and balance also, to make sure its applicability. Strict action should be taken against them who misuse child by providing very less incentives and unhealthy work place. They underlying cause should be identified first so that alternative arrangement could be done. E.g. what if the child is the only earning member of the family, if he is stop by doing work the remaining whole family suffer from it. Since it is not an overnight process it can be reduced by using the accommodation and negotiation according to situation. REFFERENCES: Freedman, Lewis. (1998). Kids At Work: Lewis Hine And The Crusade Against Child Labor. Retrieved from, http://www.nynetresources.org/Future%20Grant%20Projects/Projects/Child%20Labor/childlabor1.htm International Labour Organization. (1998). Retrieved from, http://www.oit.org/legacy/english/regions/asro/newdelhi/ipec/index.htm Lawrence, D., Deirdre, I. (2007). Environmental Injustice: Childrens Health. Pediatrics, 3, 5. Employment of Children Act, (1991). Retrieved from http://www.albarrtrust.com/Al%20Baar%20Web/SCAN%20RULES/Employment%20of%20Children%20Act,%201991.pdf Pakistan National Statistics. (1999). Retrieved from, http://www.globalmarch.org/worstformsreport/world/pakistan.html

A Problem Question on Contract Law

A Problem Question on Contract Law Introduction A contract refers to an agreement between two or more parties which is legally binding in the eyes of the law. Based on Contract Act 1950, section 2 (h), an agreement that is enforceable by law is a contract. Any other agreements that is not enforceable by law is said to be void, section 2 (g). Therefore, section 2 (j) a contract which is ceases to be enforceable by the law becomes void when it ceases to be enforceable. A contract consists of 6 elements which is proposal (section 2) and acceptance (section 7). The agreement made must be certain and lawful to fulfill the requirement of entering a contract. The consideration (section 26) of a contract have to be in price theory or the benefit and detriment theory. Next, certainty (section 30) said that the terms and agreements of a contract need to be certain and clear. Besides that, all party in the contract have to be free consent, section 10. Lastly, section 11 capacity said that minors, person that disqualified from contracting by any law and unsound mind are not competent to enter a contract. Ah Beng Ah Beng wished to sell his 3-year old motorcycle. He have the intention to create legal relations, commercial contract. In a business contract the presumption is that there is an intention to create legal relations. Unlike domestic contract where agreement made between parties are stated as no intention to create such a legal relations. For example, agreement between spouses, between parent and child and agreements between friends. Case law Balfour v. Balfour. The husband promised to pay a monthly allowance as maintenance to his wife. The court held that it was not a legally enforceable agreement, the parties should be attended by legal consequences. According to section 2 (a), when one signifies to another his willingness to do said to make a proposal, Ah Beng is the offeror before he advertised the sale in a local newspaper. After the advertisement,he becomes an acceptor. Advertisement consist of two types of offer, Bilateral and Unilateral offer. Unilateral offer is a party (X) undertakes to do something is another party (Y) decides to accept by performing some lawful act specified by X. For instance, Carlill v. Carbolic Smoke Ball Co. Carbolic Smoke Ball company made an offer to the pubic by issuing an advertisement saying that whoever still suffered from influenza after taking their product (a drug) will get  £ 100 in a specified manner and for a specified period of time. Mrs Carlill sued the company for the promise reward. The court held that the advertisement is an offer to the world. Referring to the Bilateral case law Majumder v. Attorney General of Sarawak 1967, a newspaper advertisement stated a medical officer war required and set out the salary scale. The Federal Court held that the advertisement in the newspaper for the post of a medical officer was an invitation to treat. Therefore the advertisement by Ah Beng is a Bilateral Contracts, where both parties make promises to one another, a mutual exchange of promise and this leads to invitation to treat. For example, a job advertisement is not an offer but an Invitation to Treat. The applicant is the offeror for the job and if it is accepted, the promisor is obligated to perform by giving the applicant a position and remuneration in accordance with the advertisement, a promise for a promise. Ah Beng and Ahmad Ah Beng called his colleague Ahmad who had previously told him that he is looking for a used motorcycle for his son for RM 2,500.00 in cash. As they discussed, Ahmad asked Ah Beng to hold the offer till end of the month and Ah Beng did not give an affirmative answer. Based on section 2 (a) , when one signifies to another his willingness to do said to make a proposal. Therefore Ah Beng is the offeror and Ahmad is the acceptor. However, the contract is not valid. There are components under Contracts Act 1950 to determine whether a contract is valid or invalid. When Ah Beng offered Ahmad at the first place, Ahmad request for extension, â€Å"until the end of the month†, setting a new request to Ah Beng. According to section 7 (a), conditional acceptance is no acceptance. Case law Branca v. Cobarro. Ahmad’s act has caused the contract to be invalid. Moreover, at the end of the conversation Ah Beng did not give an affirmative answer to Ahmad , section 7 (a) Acceptance must be absolute as referring to case law of Kam Mah Theatre Sdn. Bhd. v. Tan Lay Soon 1994. The acceptance given by Ahmad must be absolute and unqualified in order to make the contract between him and Ah Beng valid. After two days, Ahmad rang up Ah Beng’s house to inform that he is interested to buy the motorcycle and will go over the next day to make the payment of RM 2,500.00 after seeing Ah Beng has advertised to sell the motorcycle for RM 2,800.00 on the local newspaper. Unfortunately Ah Beng was not in and Ah Beng’s wife is the person who was answering the call. Based on section 4 (1) , a communication is complete when it comes to the knowledge of the person to whom it is made. Refers to case law, R v. Clarke. Clarke was an accomplice to the murder of two policeman, the Australian published a notice granting pardon and a reward of A$ 1,000. Clark supplied the information but he admitted that at the time he gave the information he had forgotten about the reward money. The court held that he was not entitled to the reward as he was not aware of the reward at all. The contract is therefore invalid as Ahmad did not deliver his messages and offers to Ah Beng’s knowledge and not conforming to Section 4(2)(b). However, the contract can still be valid if Ah Beng give authorization to his wife to accept the offer on behalf of Ah Beng. This is illustrated in the case law Powell n Lee, the court held that there was no authorized communication made by the acceptor. Ah Beng and Maniam Maniam read the advertisement and went over Ah Beng’s house to look for the motorcycle. Maniam’s act is to inquire more information about the motorcycle. The conversation between Maniam and Ah Beng signifies that the advertisement made by Ah Beng regarding the motorcycle is uncertain as there are informations about the motorcycle that Ah Beng did not mention clearly in the advertisement such as the model of the motorcycle, colour of the motorcycle, accident free and current condition of the motorcycle have not been told from the advertisement. This have caused uncertainty for the consideration of an agreement, therefore invalid contract based on section 30. This scenario can be referred to the case law, Karuppan Chetty v. Suah Thian 1916, â€Å"lease at $35.00 per month as long as he like† is unacceptable by the court therefore declared void for uncertainty. Maniam noticed that the battery was weak and both of the tyres were worn off during the inspection of the motorcycle. Ah Beng immediately offered the price to RM 2,700.00 and has become the new offeror, on the other hand Maniam become the new acceptor. As the negotiation going on, case law Lau Brothers Co v. China Pacific Navigation Co. Ltd 1965, no agreement will be formed under negotiation. However Maniam agreed to bring the cash on the next day expecting Ah Beng to replace the two tyres with the new ones. It is a new condition set by Maniam, leading to a counter offer. Based on section 7 (a), the acceptance made must be absolute and unqualified. Therefore the contract is not valid as Maniam’s counter offer is a rejection of the initial contract, contracts subject to contract. The contract would only be valid if it is free consent from both parties. Refers to case law Hyde v. Wrench 1840, the defendant offered to sell his estate to the plaintiff on 6th of Jun for  £1,000. On 8th of June the plaintiff made a counter proposal, 27th of June the defendant refused to accept his offer. Two days later the plaintiff wrote to the defendant that he was prepare to pay  £1,000, the defendant refused. The court held that there was no acceptance as by rejecting the original offer the plaintiff had destroyed the offer. In effect the plaintiff is now making a new offer. By asking Ah Beng to replace the worn off tyres with new ones, Maniam has become the offeror again whereas Ah Beng as the acceptor of this new agreement. At the end of the day, Ah Beng did not give response to Maniam’s further request. Based on section 7 (b), Mental acceptance is no acceptance, silence will not amount to acceptance. Refers to case law Felthouse v. Bindley, plaintif’s uncle offered to buy a horse from plaintiff for  £30 adding â€Å"If i hear no more about him, i consider the horse mine at the price†. The court held that the plaintiff’s silence did not amount to acceptance of the offer. In this case, Ah Beng’s reaction towards Maniam is not an acceptance to the contract, therefore the agreements between Ah Beng and Maniam is invalid. Ah Beng and Jack A classmate of Ah Beng’s 16 year old son, also came to know about the advertisement. Jack immediately went over to Ah Beng’s house and gave five hundred ringgit in cash to Ah Beng’s son with a promise that he will pay the balance the next day after he gets it from his parents. Section 10 (1) states that if the agreements are made by free consent of parties for a lawful consideration are not hereby expressly declared to be void. Jack is willing to enter the contract by offering his money Ah Beng without being forced. Based on section 11 Capacity as per Age of Majority Act 1971, said that the age of majority to enter a contract is at the age of 18 and above. Case law Tan Hee Juan v. Teh Boon Keat, a minor entered into a contract of transferring land. The court held that the contract was void. Jack is a minor, 16 years old and incapable of entering a contract. Moreover, section 69 said that the necessaries suited to his condition in life is not valid. Case law Nash Vs. Inman (1908) a minor, who was already having sufficient supply of clothing suitable to his position, was supplied further clothing by a tailor. Unlike case law Scarborough v. Sturzaker 1905 where the minor needs a motorcycle to travel to work for 12 miles (19 km ) distance everyday. In this case, a motorcycle is necessaries suited to the condition in life. However, there are few exception for necessity which is valid contract. Such as marriage contract, case law Rajeswary v. Balakrishnan 1958. Case law Government of Malaysia v. Gurcharan Singh 1971 stated that scholarship contract is valid for a minor as education is a necessity nowadays. Insurance is also a valid contract for a minor. Based on Insurance Act 1963, a minor can enter an insurance contract if he is above ten years old. According to section 66, obligation of person who has received advantage under void agreement or contract that becomes void. When a contract becomes void, any person who has received any advantage under the agreement is bound to restore it, or make compensation for it to the person from whom he received it. Therefore, Ah Beng is obligated to restore balance, return the five hundred ringgit to Jack. Referring to case law, Thong Foo Ching Ors v. Shigenori Ono 1998. Conclusion In conclusion, non of the person above have a valid contract with Ah Beng. First, the communication is yet to be complete between Ah Beng and Ahmad as Ahmad called and Ah Beng’s wife is the person who answered the call (section 4 (1) Communication). Next, being silence did not amount to acceptance of the offer (section 7 (a). Therefore invalid contract with Maniam as Ah Beng remain silence. Next, the capacity of both parties must be competent to enter a contract in order to make it legal, section 11 Competent to contract. In this case the contract between Ah Beng and Jack is invalid due to the age of Jack, minor (16 years old) .

An approach to historical analysis

An approach to historical analysis Introduction In Part III of ‘The Mediterranean (1949), Braudel, placed history of events low in his value hierarchy, while in his two biographies on Charles V and Philippe II (Braudel 1994 Exrits sur lhistoire II), he demonstrated his deep understanding of traditional history. Braudel departed from the commonly accepted views of traditional history and postulated the longue dur ´ee and conjoncture perspectives. With his understanding of existing theories Braudel was able to exposed structural images of important themes which were in it-self a landmark in historiography. Fernand Braudel (1902-1985) Braudel in ‘Capitalism was not interested in details from both archives and secondary literature rather he embarked on the premise of complex images within a chosen framework. This he was able to accomplish by classifying capitalism into three levels, that is, daily life market activities; production and exchange within the national market; international capital flow and trade at the world economy level. Braudels Historiography A main feature in understanding Braudels historiography is the assimilation of time and space in analyzing historical events. In addition to this methodology Braudel has elucidated new concepts which enable an understanding of time and space individually. To fully appreciate his contribution it becomes paramount to enter into discussion the way history was analyze in a conventional setting. Historical Concepts Longue Dur ´Ee, Conjuncture, Event-History, Economie-Monde And Total History Conventionally history was seen through the lens of a linear time frame or either emphasized historical changes in different geographic areas. Braudel on the other hand, applied a set of historical concepts for example, dur ´ee, conjoncture, event-history, economie-monde and total history to subjects such as the Mediterranean world and engender significant insights into history. In analyzing historical time Braudel has promulgated long-term (longue dur ´ee), mid-term (conjuncture) and short-term (event-history) views which simply demonstrates the possibility that several concepts of historical time can co-exist within a single particular subject which is being analyzed. When analyzing historical space Braudel emphasized the economie-monde and this concept he proceeded to analyze as the economic-world that is not defined by either politics or cultures but by the exchange of goods and services. Interestingly, Braudel considered both temporal and spatial elements and proceed on the premise that these four concepts are intermarried in such a way; culminating in what he termed ‘total history that is historie totale or histoire globale. Longue Dur ´ee In an even more positive vein Braudel concept of historical time relied on allotments. In other words, Braudel has taken a century or longer as a unit of analysis and calls this longue dur ´ee. Ten to fifty years he calls conjuncture whilst short calendar time is subsumed into another allotment. Capitalizing on calendar time which is no stranger to traditional history and utilizing conjuncture which is a term used in economics, but extended by Braudel to non-economic aspects of history such as social and cultural changes. Braudel then extended the concept of longue dur ´ee; thus claiming that longue dur ´ee is a most suitable tool when investigating the slow changing and structurally stable aspects of history. In so doing he has fundamentally permitted the advantages of each method to compliment each other and minimized their inadequacies. With an astute understanding of the existing historical theories Braudel in reviewing longue dur ´ee elucidated, â€Å"It was when I was constructing my book on the Mediterranean I was led to divide the times of history according to their different speeds, according to different temporalities. I think there are actually rapid times, longer times, and almost immobile times. But it was in the end of this course, not by a preliminary operation, that I arrived at this conception of time of history. Similarly, the longue dur ´ee of which I am the advocator, it was an artifice by which I was escaped from certain tangible difficulties. I did not think to longue dur ´ee before writing my book on the Mediterranean†, (Braudel, 1978, pp 244-5). Perhaps Braudel was so zealous about longue dur ´ee due to his sojourn in captivity during World War II. He wrote: â€Å"I myself, during a rather gloomy captivity, struggled a good deal to get away from a chronicle of those difficult years (1940-5). Rejecting events and the time in which events take place was a way of placing oneself to one side, sheltered, so as to get some sort of perspective, to be able to evaluate them better, and not wholly to believe in them. To go from the short time span, to one less short, and then to the long view (which, if it exists, must surely be the wise mans time span); and having got there, to think about everything afresh and to reconstruct everything around me: a historian could-hardly not be tempted by such a prospect†, (Braudel, 1969, pp 47-8, and p 77). Conjoncture Conjoncture is a French word and there is no English equivalent. It is in this vein that the Petit Robert French dictionary explains that conjuncture is a, â€Å"Situation resulting from an encounter of circumstances and which is considered as the point of departure of an evolution, an action†. â€Å"The study of conjuncture is to study an occasional situation as opposed to structure in view of a prevision†. This explanation swims in the same stream as Braudels since his theory is based on changes and mutations in economic factors, for example, population growth, production output, and price changes. According to Gemelli, and Braudel it is also used to describe social trends, for example, â€Å"conjuncture, paysanne, conjuncture seinneuriale†, (Gemelli, 1995 p 107 and Braudel, 1991 p 48). This economic perception of Braudel led him to proceed on the premise that, â€Å"†¦ the term conjoncture, †¦ suggest possible new directions for research and some te ntative explanatory hypotheses. †¦ Conjunctural analysis, †¦ is however one of the necessary means of historical explanation and as such, a useful formulation of the problem†, (Braudel â€Å"The Mediterranean† pp 892, 899). These converging lines of evidence enable the concept of conjuncture to develop since as he so succinctly stated, â€Å"Traditional history, with its concern for the short time span, for the individual and the event, has long accustomed us to the headlong, dramatic, breathless rush of it narrative. The new economic and social history puts cyclical movement in the forefront of its research and is committed to that time span side by side with traditional narrative history, there is an account of conjunctures which lays open large sections of the past, ten, twenty, fifty years at a stretch ready for examination†, (Braudel, 1969, p 27,and p 29). Event-History The structured way of writing history was the method of using exact dates, names, cause-consequences and places. Braudel interestedly rejected this approach since he wanted to analyze and by extension sound harmonies with the overall environment, structure and movement; so as to yield an impersonal and collective aspects of historical changes. Braudel later developed an even greater interest in specific events as can be evidenced from a passage from his notes and his conception about events. Quoting from his personal notebook (f*23), undated, entitled â€Å"LHistoire, mesure du temps (History, measure of time)†. The notebook belongs to the Archives Braudel and may still not be public. Braudel mentioned the State of Bahia (Brazil) in this passage and it is well known that he taught at Sao Paulo University during 1936-1937. It stands to reason therefore, that this idea was documented before he wrote â€Å"The Mediterranean†, â€Å"One evening, in the State of Bahia, I suddenly found myself being surrounded by a tremendous number of fireflies. They were lighting here and there, more or less in high place, countless, just like many too brief sparkles, but shed sufficient light to see the landscape. This is so with events†, (Gemelli, 1995:84 / Braudel, 1969:10). This metaphor aptly describes that events are like the light from fireflies which is often brief and weak. Many criticized Braudel, for example, Hargor in 1986, but for others he was truly the master of event-history. Fuelled by a changed attitude by the 1960s Braudel wrote, â€Å"Every event, however brief, has to be sure a contribution to make, to light up some dark corner or even some wide vista of history. I am by no means the sworn enemy of the event. In the first place, this kind of history tends to recognize only important events, building its hypotheses only on foundations which are solid or assumed to be so. Another is the event with far-reaching consequences and repercussions as Henri Pirenne was fond of remarking†, (Braudel, â€Å"The Mediterranean†, pp 901-902). Economie-Monde (Economic-World) Braudels concept of economie-monde was inspired by German geographers, that is, by the work of Friz Rorig Mittelalterliche Weltwirtschaft: Blute und Ende Einer Weltwirtschaftsperiode 1933, (Gemelli, 1995, p 125 / Capitalism III p 634 note 4). At the time of this conception Braudel was in the thinking process of â€Å"The Mediterranean†. During this period however, he perceived that the Mediterranean world was a kind of economie-monde, and this was later expressed in â€Å"The Mediterranean† at pp 418 419. Relative to this, Braudel made a clear dichotomy between economie-monde (economic-world, a huge network of economic exchanges) from economie mondiale (world economy, which refers to such as the global impacts of the Oil Shock of the 1970s). It is evident that Braudel embarked on the premise that the economic-world model was based on the Mediterranean economy. On the heels of this construction is the believed that models for other economie-mondels would no doubt have a similar construction when a comparison is made. This can best be illustrated from a section in â€Å"The Mediterranean† where Braudel stated, â€Å"Have we here enough material to measure the Mediterranean, to construct a comprehensive, quantitative ‘model of its economy? As a unit it could then be compared to other ‘world-economies [economic-worlds would be a better translation] either bordering on or connected to the Mediterranean†, (Braudel, â€Å"The Mediterranean†, pp 418-419). Braudel enables one to make greater sense of what a center means to an economie-monde when he provided a definition of it as it relates to the Mediterranean, â€Å"This world (the Mediterranean), sixty days long, was, indeed, broadly speaking a Weltwirtschaft, a world-economy ( ´economie-monde), a self- contained universe. All world-economies ( ´economie-monde) for instance recognize a center, some focal point that acts as a stimulus to other regions and is essential to the existence of the economic unit as a whole. Quite clearly in the Mediterranean in the fifteenth and sixteenth centuries that center was a narrow urban quadrilateral: Venice, Milan, Genoa, Florence, with conflicts and inter-town rivalries as the relative weight of each city changed. The center of gravity can gradually be seen to shift from Venice, where it still lay at the beginning of the century, to Genoa, where it was so brilliantly established between 1550 and 1575†. In line with this theoretical viewpoint, the center was not a single city, but comprised of four cities; and that with the center of gravity changing between them. Total History The term total history is a methodological claim of historical writing. Braudel is an advocate of this strain and using histoire globale and histoire totale interchangeably he states, â€Å"Similarly, the globalite, histoire globale that I defend, imposed on me little by little. That is something extremely simple, so simple that most of my colleagues in history do not understand me. On the contrary, this does not hinder them to attack me fiercely. . . . The globalite, is not an intention to write a total history of the world. It is not this kind of puerile, sympathetic and crazy pretension. It is simply the desire, when one approaches a problem, to go beyond the limits systematically. There is no historical problem, in my view, that is separated by walls, that is independent†, (Braudel, 1978, p 245). In short, Braudels advocated interdisciplinary studies, going beyond the limits of well-defined topical studies. Secondly, he postulated that history should be observed and studied from diverse angles, with it being beneficial to expand the duration of observation (longue dur ´ee) and to extend the geographic areas, such that extensive comparison will lead to significant results. Finally, and in line with this, he found it essential to combine the time dimension (three kinds of historical time) and the space dimension (geo-history, economie-monde) in order to investigate the complexity of the subject in question. (See Figure I for Braudels concept of Total History) A Century Other Century Source: Authors Adaption Diverging Views On Total History Contrary to this strain Furet, a member of the Annales School, wrote, â€Å"Yet the idea of ‘total history is elusive. ‘Total history merely expresses the ambition of providing a fuller perspective, a more exhaustive description, a more comprehensive explanation of a given object or problem than provided by the social sciences whose conceptual and methodological innovations it has borrowed†, (Furet, 1983, p 394). Swimming in the same stream was Stoianovick who interestingly argued that, â€Å"One major obstacle to histoire globale arises from the fact that histoire globale has been much more the product of individual genius than of systematic theory†, (Stoianovich, 1978, p 20). These views lends easily to Pierre Chaunu, a former student of Braudel, and a Membre de lInstitut whocategorically who categorically stated, â€Å"There cannot be a total history. All knowledge is necessarily selective, a rational choice. total history, in its basic meaning, is evidently a non- sense. It is a wish, it marks an direction, .†, (Coutau-B ´egarie, 1983, pp 96, 99). It is apparent that Braudels views came under scrutiny. However, it is necessary to understand that Braudels total history concept is not intended to describe everything, that is, every aspect of the subject but rather it is intended to ‘make it appear an organized structure rather that a ‘mere heap†, (Popper, 1961, pp 76-77). The Contribution Of Braudels Five Concepts Braudels five key concepts discussed above made in-roads or contributions to the historical analysis of time and space. With respect to historical time, he expanded the conventional single-speed, linear-movement of historical time into a set of historical times that can be separated into short-term, medium-team and long-term. These terms co-exist, and each has its own speed, life and function; they are inter-related and inter-acting. As to his contribution to historical space Braudels hypothesis was  ´economie-monde, a concept that some would say was not well presented in ‘The Mediterranean but finally clarified three decades later in ‘Capitalism. Advantages And Disadvantages Of Braudels Methodology Braudels concepts are flexible and this can be considered its major advantage, since Braudels believed that the use of his concept would generate historical insight rather than rigorous ones. The disadvantage however can be seen through the lens of misunderstandings on the one hand and on the other the challenge of a writer combining all the various disciplines, for example, geography, demography cultural studies, economics and so on which is required when applying Braudels notion of total history. This challenge may not be an easy one for the writer to overcome. Further, it has been said that his theories lack clear and / or strong interpretation and that he seldom attempted firsthand penetrating investigation on any specific topic. Conclusion Braudels historiography can be seen as one philosophical approach to historical analysis. While this approach is not global and eternal it can be used as a viable tool in the study of history. In essence his historiography is not a final dictum but rather can be seen as a contribution to historical studies and a foundation to be built upon. Bibliography Braudel, F. (1949): La Mediterranee et le monde mediterraneen a l ´epoque de Philippe II, Paris: Armand Colin (2 volumes), 9e edition (1990). Translated from the French by S. Reynolds in 1972, Fontana (1995, 15th impression): The Mediterranean and the Mediterranean World in the Age of Philip II, 2 volumes. Braudel, F. (1969): Ecrits sur lhistoire, Paris: Flammarion (Collection Champs No. 23). English translation by Sarah Mathews (1980): On History, University of Chicago Press. Braudel, F. (1977): Afterthoughts on Material Civilization and Capitalism, Johns Hopkins University Press, translated from the French by Patricia Ranum. The French version: La dynamique du capitalism (1988), Paris: Flammarion (Champs No. 192). Braudel, F. (1977) ed.: La Mediterranee, lespace et lhistoire (volume 1); La M ´editerran ´ee, les hommes et lh ´eritage (volume 2), Paris: Arts et M ´etiers Graphiques; reprinted by  ´ Edition Flammarion, 1986, Collection Champs Nos. 156, 167. Braudels concepts and methodology reconsidered. The European Legacy, 2000, 5(1): 65-86 (Taylor Francis). Chaunu, Pierre (1992): La M ´editerrannee cest Braudel, LHistoire, juillet/ao.ut, pp. 71-3. Coutau-B ´egarie, H. (1989): Le phenomene â€Å"Nouvelle histoire†: strategie et ideologie des nouveaux historiens, Paris: Economica (Second Edition). Furet, Franc ¸ois (1983): Beyond the Annales, Journal of Modern History, 55:389-410. Gemelli, Giuliana (1995): Fernand Braudel, Paris: Editions Odile Jacob. Popper, Karl (1961): The Poverty of Historicism, London: Routledge. Stoianovich, Traian (1978): Social history: perspective of the Annales Paradigm, Review, 1(3/4):19-48.

Using Gothic Characteristics to Portray the Theme of Knowledge Essay

Using Gothic Characteristics to Portray the Theme of Knowledge in American Gargoyles, Johnny Mnemonic, Frankenstein, Good Country People, and Cyberpunk   Ã‚  Ã‚   Gothic literature has been interpreted, and even criticized by many people as just being scary stories. They feel the author's only purpose for using gloomy settings and grotesque characters is to horrify the reader. This however is rarely true of Gothic literature, instead an author will use these characteristics to portray a deeper purpose rather than to just scare the reader. This is true of all genres of gothic literature including classical, southern, and cyber literature. One theme that has been prevalent throughout gothic history is that of knowledge. Several authors have used gothic tendencies to convey the idea that too much knowledge can be dangerous. They use these characteristics to warn the reader that knowledge is not always good. Classical gothic literature, developed in the late eighteenth century, was most likely first concepted by Horace Walpole's The Castle of Otranto. Dark, dreary settings and frightening monsters often characterize the style of this category of literature. Mary Shelley, a classical gothic writer, has used these characteristics in her novel Frankenstein. In her novel Victor Frankenstein composes a creature that has all the potentialities of a child because it knows nothing. But this creature is far from looking anything like a child. The monster, created from different body parts, is grotesque, he has yellow skin that barely covers his muscles, long black hair and is very large. However, just as a child, he begins to learn, through experiences and especially by reading several books. This new knowledge he has learned has a harmful ... ... situations to warn or horrify the reader about a deeper theme. The terror felt by the reader as he/she reads the story mimics the terror another character is feeling in dealing with this hidden theme. Authors often use these tendencies to portray their ideas on current social conditions in order to warn the reader. Works Cited Bloom, Harold. Flannery O'Connor. New York: Chelsea House Publishers, 1986. Di Renzo, Anthony. American Gargoyles. Carbondale: Southern Illinois University Press, 1993. Gibson, William. "Johnny Mnemonic." 5 April 2000 . Levine, George. The Endurance of Frankenstein. Los Angeles: University of California Press, 1979. O'Connor, Flannery. "Good Country People." 5 Apr. 2000 . Shelly, Mary. Frankenstein. New York: Dover Publications, Inc, 1994. The Cyberpunk Project. Christian Kirtchev. 3 Apr. 2000. 10 Apr. 2000 .