Saturday, January 25, 2020
Law Essays Negligence Damages Breach
Law Essays Negligence Damages Breach Negligence Damages Breach For the purposes of this paper, it is assumed that liability for negligence rests solely on the Umbridge Village Fà ªte Committee (UVFC) with regard to the damages suffered by Tony and Will as it is generally accepted that legal responsibility should lie with the event organiser/hirer. The insurance policy should indemnify the Borsetshire County Council (BCC) against all activities on the agreed land, except to the extent that the damage is due to any act or omission of the BCC. In order to succeed in a claim for negligence, the claimant must prove that they were owed a duty of care, that the duty was breached, and that the breach resulted in the damage complained of. The authority for duty of care is the leading case of Donoghue v Stevenson (1932) and it is well established law that event organisers owe a duty of care to the participants, spectators and the general public who attend their events. It follows that the UVFC had a duty to ensure that all foreseeable risks had been adequately assessed and that the appropriate safety measures had been put in place with regard to the planned competitions. Given that a duty has been established, it must now be determined whether the UVFC has breached that duty. According to Alderson B, in Blyth v Birmingham Waterworks (1856), to avoid breaching a duty of care, the defendant must meet the standard of a ââ¬Å"reasonable manâ⬠. This test is objective and recognises that the average person can not foresee every risk. Case law has established that anyone acting within a specific area of skill must show the same standard of care as a reasonable person with that particular skill. Therefore, the question to ask is ââ¬Å"what would a reasonable event organiser, placed in the same position as the UVFC, have done, and did the UVFC meet that standard?â⬠If it can be shown that the UVFC did not use sufficient care with regard to the competitions, liability in negligence may arise. Tony On the facts, it was wholly unreasonable to allow a competitor to use a garden trowel as a spile given the nature of the game. Any reasonable person would have recognised that using such an implement in that manner could result in serious injury. Therefore, the UVFC is in breach of its duty. It is readily apparent that ââ¬Ëbut forââ¬â¢ the negligent act of the event organiser in allowing the trowel to be used in the competition, this injury would not have occurred. Therefore, the UVFC will be liable for the injury unless the damage is too remote. The test for remoteness of damage as held in The Wagon Mound (1961) is that the damage must have been reasonably foreseeable. This is readily established because all Tony must prove is that some personal injury was foreseeable. The precise circumstances need not be foreseeable, as damages can be recovered for an ââ¬Å"unforeseeable form of a foreseeable type of injuryâ⬠, and for ââ¬Å"unforeseeable consequences of a foreseeable type of injuryâ⬠Therefore, it is likely that the UVFC will be liable for Tonyââ¬â¢s injury. The UVFC may argue volenti non fit injuria. Case law has established that spectators assume the risk of injury when attending certain events and thus indemnify the organisers. For example a person attending an ice hockey event accepts the risk they could be injured by a puck. Similarly, a spectator at a golf tournement ââ¬Å"runs the risk of the players slicing or pulling balls which may hit them with considerable velocity and damage.â⬠However, Wilks v Cheltenham Home Guard Motor Cycle and Light Car Club (1971) established that a spectator can recover damages for injury resulting from the negligent act of one of the competitors or the failure of the event organiser to guard against accidents which are ââ¬Å"foreseeable and not inherent in the sport or entertainmentâ⬠, unless it can be shown that the spectator agreed to take the risk of being injured. Therefore the UVFC would need to prove that Tony ââ¬Å"freely and voluntarily, with full knowledge of the nature and extent of the risk he ran, impliedly agreed to incur it.â⬠Tony is regarded as having accepted the risk of injury due to foreseeable playing errors but not the risk of injury due to a reckless disregard of his safety. On the facts, Tony could not have assumed the risk of injury, as it was not foreseeable or inherent, that such an implement would be used in the event. If the court agreed, the defence would fail. Will It has already been established that the UVFC owes a duty of care. Therefore, Will must demonstrate that the UFVC was in breach of its duty. Would the reasonable event organiser, having regard for the safety of the competitors, allow the game to be played in the river? It is accepted fact that football matches are played on a pitch. Furthermore, it is common knowledge that rocks are usually present along riverbeds and that they can be slippery. Thus, there was an obvious danger of a slip and fall injury. The reasonable organiser would have recognised the risk and selected a more suitable site for the match. Therefore, the UVFC is in breach of its duty. Can it be said that the accident would not have occurred ââ¬Ëbut forââ¬â¢ the negligence of the UVFC? Undoubtedly, Tomââ¬â¢s act of tackling Will for the ball was a contributing factor in the incident. Did it constitute a novus actus? Can it be said that Will would have suffered injury ââ¬Ëbut forââ¬â¢ the negligence of either the UVFC or Tom? The courts have made it clear that they approach causation as a matter of common sense. Therefore, the judge must decide, of the two acts, which was the effective cause of Willââ¬â¢s injury. In applying the common sense approach to this scenario, the act of a third party will not be treated as the effective cause of the damages unless it was entirely unreasonable and independent of the original negligent act. It appears that the negligent act of holding the match in the river will be considered the effective cause of Willââ¬â¢s injury. Tomââ¬â¢s tackle was an incidental risk of the game and was neither unreasonable nor independent. Again there is no issue of remoteness, as personal injury was foreseeable. Does UVFC have any available defences to avoid liability? It could be argued that Will voluntarily consented to the risk of injury by participating in the match. It is accepted that a person engaged in playing a lawful game takes on himself the risks incidental to being a player. However, according to Gillmore v LCC (1938), he does not take on himself additional risks due to the provision of unsuitable premises or inadequate safety precautions. Gillmore was distinguished from the usual volenti non fit injuria cases on the grounds that the council, in allowing the game to be played on a highly polished surface, added a danger beyond the usual dangers involved in the playing of the game. Will may contend that holding the game in the river was an added danger. To succeed, the UVFC will have to prove that Will chose to run the risk having full knowledge of both the nature and extent of the risk, that he agreed to waive his rights in respect of such damage, and that he was not acting under any relevant pressure. If this is proven, Willââ¬â¢s claim will be unsuccessful as the defence operates as a full waiver of liability. In addition, a case could be made that Will accepted that playing in the river increased his risk of injury and as such, his decision to participate anyway was causative. It should be noted that while knowledge of the risk may show contributory negligence, it does not prove voluntary assumption of that risk. On that basis, it may be decided that Will acted carelessly and any damages awarded would be reduced taking into account his contributory negligence. With regard to Emmaââ¬â¢s claim, the case of Cole v Davies-Gilbert and others (2007) was recently decided on similar facts. The Court ruled that there was no evidential basis on which to hold the event organiser or land owner liable for the claimantââ¬â¢s injury. The Occupiersââ¬â¢ Liability Act, 1957 (OLA 1957), introduced a common duty of care to visitors which is defined under section 2(2). This duty imposes a positive obligation on occupiers to ensure visitors are reasonably safe and is not the same as the duty of care in negligence. The definition of premises includes land and buildings, thus clearly encompassing the green. Section 1(2) provides that visitors are those persons who at common law would be treated as invitees and licensees. Based on the facts, Emma was a visitor because she had implied permission to walk across the green and was not acting outside the scope of her permission to be there. Therefore, she was owed a common duty of care. Occupier is not defined in the Act, however, according to Lord Denning in Wheat v Lacon (1966) ââ¬Å"an occupier is someone who has a sufficient degree of control over premises that he ought to realise that any failure on his part to use care may result in injury to a person coming lawfully there as his visitor.â⬠There can be more than one occupier and physical occupation is not compulsory. Thus, both the BCC and the UVFC could be considered occupiers under the Act. However, Emma may wish to pursue her claim against the UVFC in negligence rather than under the Act, since it no longer has control over the premises. The standard of care required of an occupier under the Act is the same as in common law negligence. The Court must look at whether or not the occupierââ¬â¢s conduct was below the standard of similar occupiers acting in the same circumstances. If the conduct does not fall below the standard of the reasonable occupier then it will not be said to have acted negligently. It is easily accepted that a deep hole in the centre of a public green poses a risk of harm and as such is a foreseeable danger. However, it is important to note that it is the visitor who must be reasonably safe and not the premises. Thus the fact that the exposed hole existed does not, without more, constitute a breach of duty. Thus the essential point to consider is whether the occupier acted reasonably. In so deciding, we must consider whether the hole had been adequately sealed after the event and whether a reasonable system of inspection and maintenance was in place. Assuming that this was the first incident involving the hole, it would be reasonable to believe that the hole had been properly sealed given the amount of time which passed without incident. Presumably, the UVFC would have been responsible for reinstating the green after the fà ªte under the hirerââ¬â¢s agreement with the BCC. It follows that the UVFC met the standard of care required of an occupier of premises and will not be liable for Emmaââ¬â¢s injury. In negligence, the UVFC owes Emma a duty of care under the neighbour principle and as such, it could be argued that the UVFC was responsible for what went wrong. However, the Committee has acted reasonably in sealing the hole. Therefore there is no breach in negligence either. Finally, any claim against the UVFC would fail unless it could be proven that they knew, or had reasonable grounds to believe, that the hole had been exposed and did not take the necessary steps to avert the danger. In Emmaââ¬â¢s claim against the BCC, it is unclear on the facts provided, what knowledge, if any, the BCC had of the exposed hole. Assuming it had no knowledge, Emma would have to prove that the Councilââ¬â¢s system of inspection and follow up did not meet the accepted standard employed by other councils, or that it acted unreasonably. This would be difficult given that there were no prior incidents and no mention of complaints by groundskeepers or subsequent hirers of the green. Thus, if it could be shown that sensible and reasonable action was taken with regard to inspecting and maintaining the green, the BCC would escape liability. Conversely, if the BCC knew the hole was exposed, it could be found liable given the fact that it would not have been onerous to ensure that the hole was filled in properly and a ââ¬Ëreasonable occupierââ¬â¢ would have done so. Under s2(4)(a) OLA 1957, it is possible to discharge the duty owed by providing adequate warnings that enable the visitor to avoid the danger. However, a warning is not to be treated without more as absolving the occupier from liability, unless in all the circumstances it was enough to enable the visitor to be reasonably safe as explained in Roles v Nathan (1963). In Rae v Mars UK (1989), it was held that ââ¬Å"where an unusual danger exists the visitor should not only be warned of the danger but a barrier or additional notice should be placed to show the immediacy of the dangerâ⬠. On the facts of the present case, there were no warnings or barriers. Therefore the BCC did not discharge its duty under the provision and should be held liable for Emmaââ¬â¢s injury. Section 2(1) OLA 1957 provides that an occupier may exclude his duty ââ¬Ëby agreement or otherwiseââ¬â¢. Ashdown v Samuel Williams Sons Ltd (1957) held that it is sufficient for an occupier to post a ââ¬Å"clear and unequivocal noticeâ⬠at the point of entry excluding liability with respect to non-contractual entrants. Once again, on the facts, this was not done. A key point here is that the Unfair Contract Terms Act 1977 controls the exclusion of liability for negligence including the common duty of care under OLA 1957. Section 2(1) of the 1977 Act prohibits any attempt to exclude liability for personal injury resulting from negligence, although this is only applicable in a business context. If Emma could establish that she entered the green under contract she could successfully claim damages against the BCC even if it had posted an exclusion notice. A final consideration is the Compensation Act 2006 which serves to remind us that the law does not compensate people who are involved in pure accidents. Furthermore, Section 1 draws attention to the fact that in determining whether there has been a breach of duty, the court will consider whether ââ¬Å"precautionary and defensive measures, if taken, would prevent desirable activitiesâ⬠, thereby attempting to ââ¬Å"ensure that normal activities are not prevented due to fear of litigation and excessively risk-averse behaviour.â⬠Therefore, unless Emma proves causative fault against either defendant, her claim should fail as clearly, too high a duty of care imposed by the courts would interfere with the reasonable enjoyment of life. Therefore, in the absence of any evidence to the contrary, Emmaââ¬â¢s accident should be considered just that; an accident.
Friday, January 17, 2020
Crude Oil Price Volatility Economics Essay
Energy plays the cardinal function in the universe economic system. In malice of considerable disposition to alternative renewable beginnings of energy like air current, H2O, atomic and solar power, the function of rough oil in macroeconomic motions has non waned yet ( Mehrara & A ; Mohaghegh, 2011 ) . Since the find and production of oil Nigeria in 1958, the subsector has continued to play a major and dominant function in the Nigerian economic system. The extractive sector in the Nigerian economic system is big and extended, with oil playing a critical function. With about 37.2 billion barrels in militias and 2.13 % of planetary production, Nigeria has the universe ââ¬Ës 10th largest proven militias ( 3.1 % of planetary militias ) , and is among the top 10 oil manufacturers ( Akinlo, 2012 ) . Nigeria has been a member of the Organization of the Petroleum Exporting Countries ( OPEC ) since July 1971. Presently, there are 12 member states including Nigeria in this international organisation whose purpose of the organisation, harmonizing to its Statute, is the finding of the best agencies for safeguarding their involvements, separately and jointly ; inventing ways and agencies of guaranting the stabilisation of monetary values in international oil markets with a position to extinguishing harmful and unneeded fluctuations ; giving due respect at all times to the involvements of the bring forthing states and to the necessity of procuring a steady income to the bring forthing states ; an efficient, economic and regular supply of crude oil to devouring states, and a just return on their capital to those puting in the crude oil industry ( OPEC, 2012 ) . Crude Oil is an of import trade good non merely because it is of course happening in the Earth but because of the many fractions that are derived from it after the refinement procedure. Those changing fractions such as fuel oil, jet fuel, kerosine etc. are extracted at different temperatures during the refinement procedure. The demand for rough oil is derived from the demand for its fractions and it depends on a big figure of factors such as its class, sulfur content and its locations. Crude Oil is classified in the international market harmonizing to changing molecular features by giving pricing mentions to the countries where such barrels are produced. Such pricing mentions include the North American West Texas Intermediate, Nigerian Bonny Light, Brent etc. In most oil exporting states, authorities which is well big in comparing with little private sector, straight receives the oil gross. Spending this gross, authorities ââ¬Ës behaviour becomes the most of import feature of the economic system. In other words, the financess needed for authorities ââ¬Ës outgo come from oil gross. So, financial and pecuniary policies depend upon oil monetary value ( Rosser & A ; Sheehan, 1995 ) . Oil monetary value is extremely variable ; even more than any other trade good ( Dehn, 2001 ) . Crude oil monetary values have increased on norm from US $ 25 per barrel in 2002 to US $ 55 per barrel in 2005. There has been a steep upward tendency in the monetary value of rough oil in recent old ages, making a record nominal high of US $ 147 in mid-2008 and a crisp bead to US $ 46 a barrel ( Akpan, 2009 ) . The transmittal mechanisms through which oil monetary values have impact on existent economic activity include both supply and demand channels. The supply side effects are related to the fact that rough oil is a basic input to production, and accordingly an addition in oil monetary value leads to a rise in production costs that induces houses to take down end product. Oil monetary value alterations besides entail demand-side effects on ingestion and investing. Consumption is affected indirectly through its positive relation with disposable income. Oil monetary value rises cut down the consumers passing power. Investing may besides be affected if the oil monetary value daze encourages manufacturers to replace less energy intensive capital for more energy-intensive capital. The magnitude of this consequence is in bend stronger the more the daze is perceived to be durable. For this ground, the theoretical literature has been of a general equilibrium nature, with different writers delega ting different weights to the supply and demand channels ( Olomola & A ; Adejumo, 2006 ) . When oil monetary value depreciates, big public sector expectedly can non cut down its disbursement instantly and proportionally ; so faces immense shortages. The financial instabilities followed by an oil monetary value lessening can be lay waste toing if the state is extremely dependent on oil grosss ; which is the instance in most oil exporting states. More disappointingly such falls are normally unpredictable. Several uncomplete undertakings and immense debts are the chief heritages of this period for the undermentioned fruitful epoch. After some rough experiences, presents, insulating the existent sectors of economic system from oil monetary value volatility is accepted as one of the most of import functions of authorities ( Mehrara & A ; Mohaghegh, 2011 ) . Presently, one-year budgets are formulated in Nigeria based on oil monetary values. The 2009 budget was revised in line with the predominating market monetary value of oil declarative mood of immense dependance of Nigeria on oil returns. In 2012, there was an intense argument refering the benchmark monetary value of Crude Oil that would be the footing of gross and outgo computations in the passing of the 2013 Appropriation Act ( budget ) through the Nigerian National Assembly. Huge influx of oil grosss in Nigeria are more frequently associated with enlargement in the degree of Government passing while periods of dwindling oil grosss are normally accompanied by budget shortages. There is no addition stating that Nigeria relies so much on gross from oil exports, but, it every bit massively imports refined crude oil and other related merchandises. Evidence, for case, shows that Government disbursement, which hitherto, before 1999 remained good below N0.5 trillion, hit N1.02 trillion grade in 2001 and N1.5 trillion in 2004. The figures for 2006 and 2007 stood at N2.04 and N2.45 trillion severally ( Aliyu, 2009 ) . Oil monetary value dazes are preponderantly defined with regard to monetary value fluctuations ensuing from alterations in either the demand or supply side of the international oil market ( Hamilton, 1983 ) . These alterations have been traditionally traced to provide side breaks such as OPEC supply quotas, political turbulences in the oil-rich Middle East and activities of hawkish groups in the Niger Delta part of Nigeria. The dazes could be positive ( a rise ) or negative ( a autumn ) . Two issues are identified sing the dazes ; foremost is the magnitude of the monetary value addition which can be quantified in absolute footings or as per centum alterations, second is the timing of the daze, that is, the velocity and continuity of the monetary value addition ( Akpan, 2009 ) . Traveling by the foregoing, four oil dazes can be observed in Nigeria. Each of the dazes had connexions with some motions in cardinal macroeconomic variables in Nigeria. For case, the 1973-74, 1979-80, and 2003-2006 periods were associated with monetary value additions while the oil market prostration of 1986 is an episode of monetary value lessening. During the first oil daze in Nigeria ( 1973-74 ) , the value of Nigeria ââ¬Ës export measured in US dollars rose by about 600 per cent with the footings of trade lifting from 18.9 in 1974 to 65.3 by 1982. Government gross which stood at 8 per cent of GDP in 1972 rose to about 20 per cent in 1975. This resulted in increased authorities outgo owing mostly from the demand to monetise the rough oil grosss. Investing was mostly in favor of instruction, public wellness, conveyance, and import replacing industries ( Nnnanna & A ; Masha, 2003 ) . During the oil monetary value daze of 2003-2006, Nigeria recorded addition in the portion of oil in GDP from approximately 80 per cent in 2003 to 82.6 per cent in 2005. The daze was gradual and persisted for a piece. This could be regarded as a lasting daze. The consequence of the daze was a favorable investing clime, increased national income within the period although a little diminution was observed in the growing rate of the GDP. Despite this sensed benefit of oil monetary value alteration, the macroeconomic environment in Nigeria during the roars was unwanted. For case, rising prices was largely dual figure in the 1970s ; money supply grew steeply, while immense financial shortages were besides recorded ( Akpan, 2009 ) . The growing way of the state has been really unsmooth over the old ages. During the oil roar epoch, approximately 1970-78, GDP grew positively by 6.2 per centum yearly ââ¬â a singular growing. However, in the 1980s, GDP had negative growing rates. In the period 1988-1997 which constitutes the period of Structural Adjustment Programme ( SAP ) , which entails economic liberalisation, the GDP responded to economic accommodation policies and grew at a positive rate of 4.0 per centum. Agriculture, industry and fabrication, oil and gas sectors had greater laterality in the composing of the Nigeria ââ¬Ës GDP. The twelvemonth 1989 ââ¬â 1998 was the most disruptive period in the history of the state ââ¬Ës growing form. Real GDP grew merely by an norm of 3.6 per centum, against the population growing rate of 2.8 % during the same period. Inflation, poorness, exchange rate were all at dismaying rates. Foreign direct investing, which is a necessary engine of growing, was stifled be cause of unsupportive enabling environment. Between 1999 and 2008, the state ââ¬Ës growing public presentation improved significantly. GDP growing rate averaged 7.8 % during the decennary entirely due to the growing of non-oil sector which grew by 9.5 per centum. In this respect, nevertheless, oil sector constitutes both a retarding force on growing and a beginning of instability in GDP growing form ( Aliyu, 2009 ) . Ongoing financial and pecuniary reforms aim to cut down the degree of rough oil dependence but at the minute, uncertainnesss about the degree of rough oil monetary values has cost the economic system a batch of investing chances over the old ages. In order for Nigeria to achieve balanced, uninterrupted and sustainable economic growing, the consequence of volatility in oil monetary values must be given equal attending.STATEMENT OF THE PROBLEMIn Nigeria, the rate of petroleum oil dependence is high. It accounted for about 82.1 % of entire authorities gross during the oil roar in 1974 before cut downing to a portion of 64.3 % by which was a effect of the rapid diminution in universe market monetary value of rough oil. The portion of oil gross in entire authorities gross still remains significant as evidenced by the attainment of 85.6 % and 86.1 % in 2004 and 2005 severally ( Akpan,2009 ) . This has generated a batch of involvement particularly amongst stakeholders in the Nigerian econom ic system. Of recent, is the argument in the Nigerian National Assembly about the appropriate petroleum oil monetary value benchmark to be included in the 2013 Appropriation Act which has generated a batch of contention. From a planning position, fluctuations in the petroleum oil monetary value have been the beginning of a batch of incomplete authorities undertakings due to the alterations in the gross watercourse and the dependability of cost estimations. The transmittal mechanisms through which rough oil monetary values impact on existent economic activity and analysing the dynamic interrelatedness among the selected macroeconomic variables is of great importance. Variations in rough oil monetary values hinders effectual economic planning and development most particularly for rough oil dependent economic systems like Nigeria. The impact of these fluctuations in footings of magnitude, continuance and way is of great importance if the Nigerian economic system must come on. The following are inquiries refering to the impact of rough oil monetary value volatility in Nigeria: ââ¬â How significantly can Crude Oil Price fluctuations hinder sustainable economic growing in Nigeria? What magnitude of the alterations in macroeconomic variables is associated with fluctuations in rough oil monetary value?1.3 OBJECTIVES OF THE STUDYThe wide aim of this survey is to analyse the consequence of petroleum oil monetary value volatility on economic activity in Nigeria. The specific aims include: a. To analyse the consequence of oil monetary value volatility on the growing rate of existent GDP, Inflation rate, Money supply and other financial and pecuniary variables. B. To find whether there is a long tally relationship between oil monetary value volatility and existent GDP growing in Nigeria. 1.4 RESEARCH QUESTIONS The inquiries that guide the research are as follows: a. Is there a important relationship between Oil monetary value dazes and economic system activity in Nigeria? B. What is the magnitude of the relationship ( if any ) between Oil monetary value dazes and macroeconomic variables in Nigeria?1.5 HYPOTHESES OF STUDYThe followers are the research hypotheses to be tested during the survey: Holmium: Crude Oil Price has no important consequence on economic activity in Nigeria. H1: Crude Oil Price has a important consequence on economic activity in Nigeria.1.6 SCOPE AND LIMITATIONS OF THE STUDYThis survey on the consequence of volatile economic activity may be relevant to all states in the universe but the overall considerations, analysis and deductions are within the model of the Nigerian economic system. This survey covers the periods from 1975 to 2011. However, restrictions due to unavailability and undependability of informations could originate in the class of the survey and this should non be overlooked.1.7 DEFINITION OF UNFAMILIAR TERMSThe undermentioned footings used during the survey are explained below: a. Volatile: Care to change frequently or widely B. Organization of Petroleum-Exporting Countries ( OPEC ) : An organisation of states formed in 1961 to hold on a common policy for the production and sale of crude oil. Its members include Iraq, Indonesia, Iran, Kuwait, Libya, Angola, Algeria, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.1.8 SIGNIFICANCE OF STUDYThis survey is of import to demo the extent to which the Nigerian economic system is affected by rough oil by analyzing macroeconomic variables. It is necessary to understand the way, continuance and magnitude of the relationship.1.9 METHODOLOGYThe variables to be considered include: a. Oil Price Variance B. Real Gross Domestic Product Growth Rate c. Inflation Rate d. Index of Industrial Production e. Money Supply f. Government Outgo The clip period under consideration is 1975-2011. The Ordinary Least Square Method is used because it is the best linear indifferent calculator. Garch ( 1,1 ) theoretical account is used to mensurate rough oil monetary value volatility and the conditional discrepancy series generates the volatility informations. Johansen Co-Integration technique based on vector autoregressive theoretical account determines the long tally relationship between oil monetary value fluctuations and GDP growing. Vector Error Correction Model ( VECM ) specifies convergence or divergency among the variables in the theoretical account. Trials for Stationarity ( being of unit roots ) such as the augmented dickey-fuller and Phillip Perron Tests will be employed. Variance decomposition, impulse response map, farmer causality trial examines consequence of Oil Price volatility on other variables.1.10 DATA BeginningsSecondary informations beginnings from Central Bank Statistical Database, Central Bank Statistical B ulletin, OPEC Statistical Bulletin British Petroleum Statistical Review of World Energy.1.11 OUTLINE OF CHAPTERS
Thursday, January 9, 2020
William Shakespeare s The Merchant Of Venice - 1532 Words
Some stories take what feels like forever to finally begin. A lengthy introduction, extra details or seemingly useless dialogue can make readers skip over what seems like a false beginning to a good story. But think about this: what if those seemingly lengthy, extra, useless words were actually important? For example, the opening 115 lines of William Shakespeareââ¬â¢s The Merchant of Venice are provide minimal support to the story at first glance. In these lines, Antonio and his friends are discussing the dynamics of happiness and sadness in order to find the root of Antonioââ¬â¢s sad mood. This portion of the play gives background information about Antonioââ¬â¢s ships which becomes relevant when Bassanio needs his help later, but other than that theâ⬠¦show more contentâ⬠¦He then refuses to accept anything but a ââ¬Å"pound of fleshâ⬠for the bond, even when he is offered significant money. In addition to these things, he makes it known that he hates Antonio be cause he is not good at business and because he is a Christian while Shylock is a Jew. Hating the protagonist places him as the antagonist of the play. The opening 115 lines set up the play because these lines contain the first dialogue and they also declare the conflictââ¬â¢s beginning through their language. Towards the end of the conversation between Antonio, Salerio and Solanio, Solanio mentions ââ¬Å"two-headed Janusâ⬠(I.i.50), who is the Roman god of all beginnings. Janusââ¬â¢ name comes from the Roman word, jani, which are structures that were used for ââ¬Å"symbolically auspicious entrances or exitsâ⬠(The Editors of Encyclopà ¦dia Britannica). In this definition, auspicious means ââ¬Å"showing or suggesting that future success is likelyâ⬠(Auspicious). As soon as Solanio is done with speaking about Janus and finishes what he has to say, Bassanio enters the room; a character who leads Antonio into the conflict of the play. Solanioââ¬â¢s mention o f Janus is an example of foreshadowing in these opening lines. Upon mention of the Roman god of all beginnings, the character who begins the conflict of the play enters the room. In addition to this, Janusââ¬â¢ name comes from a word that shows anShow MoreRelatedWilliam Shakespeare s The Merchant Of Venice Essay1624 Words à |à 7 PagesWilliam Shakespeare s comedy The Merchant of Venice uses contrasting religions to draw out major themes through the ethnic divides that are exemplified. The play expresses the extreme cultural divide between the Jews and Christians through a legal contract between two men. The rivalry between the two men, Shylock and Antonio is clear from the beginning of the play and only intensifies as it continues on. Modern day readers most likely take away a slightly different message from the play than whatRead MoreWilliam Shakespeare s The Merchant Of Venice1320 Words à |à 6 Pagesghetto, and were treated as inferior to the rest of the city. William Sh akespeareââ¬â¢s play The Merchant of Venice exhibits the prejudicial attitudes of his era. Antonio, a Christian merchant, makes a deal with Shylock, a Jewish moneylender. Shylock uses it as an opportunity to exact revenge by demanding a pound of Antonioââ¬â¢s flesh if he does not meet his end of the bargain. By pitting the majority of his characters against Shylock, Shakespeare portrays Shylock in a way that discriminates against all JewsRead MoreWilliam Shakespeare s The Merchant Of Venice2269 Words à |à 10 PagesSamantha Hansen ENG 314 Brother Brugger 12.15.14 The Question of Shylock It is hard to read The Merchant of Venice without finding at least one character to sympathize with. The unforgettable villain Shylock as well as Portia, Shakespeareââ¬â¢s first and one of his most famous heroines are arguably some of this plays most beloved characters. But, is Shylock really the villain? Or is he a victim of circumstance? Shylockââ¬â¢s insistence for a pound of flesh has made him one of literatures most memorableRead MoreWilliam Shakespeare s The Merchant Of Venice1970 Words à |à 8 Pagesthe titles are reflective of the protagonists featured within. For example, the famous titles of Julius Caesar and Hamlet tell the tragedies of those respective characters. However, when it comes to William Shakespeareââ¬â¢s fourteenth play, The Merchant of Venice, it can be argued that Antonio, the merchant, is not who the play is about. In fact, there is not just one character, but instead multiple that fit the description of the protagonist. The main plot, or rather p lots, of the play revolve aroundRead MoreWilliam Shakespeare s The Merchant Of Venice1315 Words à |à 6 PagesIn The Merchant of Venice by William Shakespeare the play is based upon the hierarchy between Christian men and Jewish men. A character by the name of Bassanio borrows money from his friend Antonio, and Antonio borrows the money from Shylock to give to Bassanio. Eventually, Antonio cannot pay the money back because his ships have supposedly sunk. Therefore, he comes close to death because he signed a bond with Shylock stating that Shylock would get a pound of his flesh if the bond was not repaidRead MoreWilliam Shakespeare s Merchant Of Venice988 Words à |à 4 PagesAs I finished reading Merchant of Venice by Shakespeare, I realized that the struggle of the play gyrates around whether justice is truly served and is morality advocated or manipulated by those in authority. The struggle between the principles of justice have caused many readers to question the interaction b etween the definition of morality and justice. The bond that causes readers to take a closer look throughout the play originates from Shylockââ¬â¢s desire for vengeance and Antonioââ¬â¢s desireRead MoreWilliam Shakespeare s The Merchant Of Venice1532 Words à |à 7 Pagesfundamentalist Americans. The ills of money-lending from the Eastern perspective have been fodder for Western literature for centuries, replete with illustrations that mirror the differences and similarities in East-West cultural norms. In William Shakespeareââ¬â¢s The Merchant of Venice, money-lending has gone awry. In Act I, Scene iii, the Italian Antonio seeks to borrow 3,000 ducats from the Jewish Shylock, and Shylock intends to charge him interest, which is against Jewish economic-religious principles (BateRead MoreWilliam Shakespeare s The Merchant Of Venice Essay1275 Words à |à 6 PagesShakespeareââ¬â¢s The Merchant of Venice is so alike to our financially afflicted world. The rules of law and commerce are subject to deceptive manipulation, fear of the other overwhelms respect for a common humanity, duplicity is the norm, sexuality is a vehicle for ambition, and money drives and wraps almost every action. It is a classic tale that includes important details of the financial crisis in the Unit ed States during 2007-2009. Shakespeareââ¬â¢s Venice, like the New York of his time - and theRead MoreWilliam Shakespeare s The Merchant Of Venice2059 Words à |à 9 Pagesin The Merchant of Venice resembles a folktale known as ââ¬Å"A Pound of Fleshâ⬠(325). Artese supports his supposition with background context and parallels between the two story lines. Literary versions of the pound of flesh story circulated during the sixteenth century and were collected since the nineteenth century because of the plotââ¬â¢s longevity and populairity Shakespeare would have been familiar with pound of flesh stories (326). Human commodification is a central issue in both The Merchant of VeniceRead MoreWilliam Shakespeare s The Merchant Of Venice1616 Words à |à 7 PagesThe Merchant of Venice offers another unique perspective on crossdressing as it existed on the English Renaissance stage. Howard suggests that Portiaââ¬â¢s crossdressing is ââ¬Å"more disruptive than Violaââ¬â ¢sâ⬠(Howard, p. 433) because Portia herself was an unruly woman to begin with. Portia has become the master of her own destiny with the passing of her father, for she is referred to as the Lord of Belmont now that no man exists to fill such a role. What remains of the patriarchal authority, particularly William Shakespeare s The Merchant Of Venice - 1532 Words Yet, from an Islamic perspective, the answer is no. While the American public seems enamored with more and more debt, Islam has distinct regulations regarding the acquisition of personal debt. The reason is clear: In Islam, economics and religion are inextricably linkedââ¬âa concept completely foreign to all but the most fundamentalist Americans. The ills of money-lending from the Eastern perspective have been fodder for Western literature for centuries, replete with illustrations that mirror the differences and similarities in East-West cultural norms. In William Shakespeareââ¬â¢s The Merchant of Venice, money-lending has gone awry. In Act I, Scene iii, the Italian Antonio seeks to borrow 3,000 ducats from the Jewish Shylock, and Shylock intends to charge him interest, which is against Jewish economic-religious principles (Bate 425). Shylock defends the practice of using interest in loaning money by retelling the Biblical story of Jacob and Laban. Indeed, he needs to defend it because in his Jewish culture, interest on loaned money is considered illegal and morally corrupt. In this case, Islam and Judaism, both Eastern religions, are religiously and economically compatible. When Shylock reels out his version of the biblical story, we can see that his perspective is so skewed that he alters the true meaning of the Scripture. The Old Testament teaches that honesty and ethical principles are keys to successful, fair, and open business transactions, and that when one entity triesShow MoreRelatedWilliam Shakespeare s The Merchant Of Venice Essay1624 Words à |à 7 PagesWilliam Shakespeare s comedy The Merchant of Venice uses contrasting religions to draw out major themes through the ethnic divides that are exemplified. The play expresses the extreme cultural divide between the Jews and Christians through a legal contract between two men. The rivalry between the two men, Shylock and Antonio is clear from the beginning of the play and only intensifies as i t continues on. Modern day readers most likely take away a slightly different message from the play than whatRead MoreWilliam Shakespeare s The Merchant Of Venice1320 Words à |à 6 Pagesghetto, and were treated as inferior to the rest of the city. William Shakespeareââ¬â¢s play The Merchant of Venice exhibits the prejudicial attitudes of his era. Antonio, a Christian merchant, makes a deal with Shylock, a Jewish moneylender. Shylock uses it as an opportunity to exact revenge by demanding a pound of Antonioââ¬â¢s flesh if he does not meet his end of the bargain. By pitting the majority of his characters against Shylock, Shakespeare portrays Shylock in a way that discriminates against all JewsRead MoreWilliam Shakespeare s The Merchant Of Venice2269 Words à |à 10 PagesSamantha Hansen ENG 314 Brother Brugger 12.15.14 The Question of Shylock It is hard to read The Merchant of Venice without finding at least one character to sympathize with. The unforgettable villain Shylock as well as Portia, Shakespeareââ¬â¢s first and one of his most famous heroines are arguably some of this plays most beloved characters. But, is Shylock really the villain? Or is he a victim of circumstance? Shylockââ¬â¢s insistence for a pound of flesh has made him one of literatures most memorableRead MoreWilliam Shakespeare s The Merchant Of Venice1970 Words à |à 8 Pagesthe titles are reflective of the protagonists featured within. For example, the famous titles of Julius Caesar and Hamlet tell the tragedies of those respective characters. However, when it comes to William Shakespeareââ¬â¢s fourteenth play, The Merchant of Venice, it can be argued that Antonio, the merchant, is not who the play is about. In fact, there is not just one character, but instead multiple that fit the description of the protagonist. The main plot, or rather p lots, of the play revolve aroundRead MoreWilliam Shakespeare s The Merchant Of Venice1315 Words à |à 6 PagesIn The Merchant of Venice by William Shakespeare the play is based upon the hierarchy between Christian men and Jewish men. A character by the name of Bassanio borrows money from his friend Antonio, and Antonio borrows the money from Shylock to give to Bassanio. Eventually, Antonio cannot pay the money back because his ships have supposedly sunk. Therefore, he comes close to death because he signed a bond with Shylock stating that Shylock would get a pound of his flesh if the bond was not repaidRead MoreWilliam Shakespeare s The Merchant Of Venice1532 Words à |à 7 Pagesuseless dialogue can make readers skip over what seems like a false beginning to a good story. But think about this: what if those seemingly lengthy, extra, useless words were actually important? For example, the opening 115 lines of William Shakespeareââ¬â¢s The Merchant of Venice are provide minimal support to the story at first glance. In these lines, Antonio and his friends are discussing the dynamics of happiness and sadness in order to find the root of Antonioââ¬â¢s sad mood. This portion of the play givesRead MoreWilliam Shakespeare s Merchant Of Venice988 Words à |à 4 PagesAs I finished reading Merchant of Venice by Shakespeare, I realized that the struggle of the play gyrates around whether justice is truly served and is morality advocated or manipulated by those in authority. The struggle between the principles of justice have caused many readers to question the interaction between the definition of morality and justice. The bond that causes readers to take a closer look throughout the play originates from Shylockââ¬â¢s desire for vengeance and Antonioââ¬â¢s desireRead MoreWilliam Shakespeare s The Merchant Of Venice Essay1275 Words à |à 6 PagesShakespeareââ¬â¢s The Merchant of Venice is so alike to our financially afflicted world. The rules of law and commerce are subject to deceptive manipulation, fear of the other overwhelms respect for a common humanity, duplicity is the norm, sexuality is a vehicle for ambition, and money drives and wraps almost every action. It is a classic tale that includes important details of the financial crisis in the United States during 2007-2009. Shakespeareââ¬â¢s Venice, like the New York of his time - and theRead MoreWilliam Shakespeare s The Merchant Of Venice2059 Words à |à 9 Pagesin The Merchant of Venice resembles a folktale known as ââ¬Å"A Pound of Fleshâ⬠(325). Artese supports his supposition with background context and par allels between the two story lines. Literary versions of the pound of flesh story circulated during the sixteenth century and were collected since the nineteenth century because of the plotââ¬â¢s longevity and populairity Shakespeare would have been familiar with pound of flesh stories (326). Human commodification is a central issue in both The Merchant of VeniceRead MoreWilliam Shakespeare s The Merchant Of Venice1616 Words à |à 7 PagesThe Merchant of Venice offers another unique perspective on crossdressing as it existed on the English Renaissance stage. Howard suggests that Portiaââ¬â¢s crossdressing is ââ¬Å"more disruptive than Violaââ¬â¢sâ⬠(Howard, p. 433) because Portia herself was an unruly woman to begin with. Portia has become the master of her own destiny with the passing of her father, for she is referred to as the Lord of Belmont now that no man exists to fill such a role. What remains of the patriarchal authority, particularly
Wednesday, January 1, 2020
Problem solving and decision-making - Free Essay Example
Sample details Pages: 4 Words: 1083 Downloads: 1 Date added: 2017/09/18 Category Management Essay Type Argumentative essay Did you like this example? Introduction Problem solving and decision-making are important skills for business and life. Problem-solving often involves decision-making, and decision-making is especially important for management and leadership. There are processes and techniques to improve decision-making and the quality of decisions. Decision-making is more natural to certain personalities, so these people should focus more on improving the quality of their decisions. People that are less natural decision-makers are often able to make quality assessments, but then need to be more decisive in acting upon the assessments made. Problem-solving and decision-making are closely linked, and each requires creativity in identifying and developing options, for which the brainstorming technique is particularly useful. Good decision-making requires a mixture of skills: creative development and identification of options, clarity of judgments, firmness of decision, and effective implementation. Case Incident 4. 2: You supervise 12 engineers. Their formal training and work experience are very similar, so you move them around on different projects. Yesterday, your manager informed you that an overseas affiliate has requested four engineers to go abroad on extended loan for six to eight months. For a number of reasons, he argued and you agreed, this request should be met from your group. All your engineers are capable of handling this assignment; from the standpoint of present and future projects, there is no special reason any one engineer should be retained over any other. Somewhat complicating the situation is the fact that the overseas assignment is generally undesirable location. (Ghillyer, 2008) How would you select who should go abroad on ex-tended loan? A way to answer this question requires knowledge. Knowing the meaning of an extended loan helps determine the choice of the subject to be selected to this assignment. An extended loan is a method of semi-permanently giving somethin g away to someone while reserving your right to ask for it back later if you change your mind. (Dictionary, 1999) Going abroad on an expatriate assignment definitely has its benefits, both professionally and personally. The question in this case is how to select employees to go abroad? In most cases is a good decision making technique to let employees in this case the engineers know about the opportunity and let the individuals request if interested in the specific assignment. In this case all individuals are capable of completing this assignment without any complication. If four engineers request the assignment the selection process is easier. If none of the engineers request the assignment the four engineers needed would be selected randomly since all of them have the experience, training and capability for this assignment. What are some major factors that would influence your decision process? Time pressures frequently cause a manager has to move forward after considering o nly the first or most obvious answers. However, successful problem solving requires thorough examination of the challenge, and a quick answer may not result in a permanent solution. Thus, a manager should think through and investigate several alternative solutions to a single problem before making a quick decision. One of the best known methods for developing alternatives is through brainstorming, where a group works together to generate ideas and alternative solutions. The assumption behind brainstorming is that the group dynamic stimulates thinking one persons ideas, no matter how outrageous, can generate ideas from the others in the group. (McFadzean, 1997). As said in the previous answer all engineers are capable of completing the task. An influential factor to the decision process in this case would be their background nature. Some influential factors are: Age, dependents, time of experience, company rank and cultural values. How would you communicate the news to those engin eers selected for the assignment? Delivering bad news is the most unpleasant part of a managers function (unless the selected individuals enjoy the idea). Nothing is as disturbing as telling an employee they are selected to go to an overseas assignment. A good manager knows this not only affects the employees professional life but their personal and family life too. Delivery of bad news must be done with tact and empathy while maintaining a professional environment. Having said that, it is important to understand it can be very emotional for the manager and the employee. One important fact would be to be prepared for anger or crying. It is never easy but there are some things that the manager can do to make the best of a bad situation. First it is important to be honest with the employee. If they were selected, answer their question candidly. Let them know where they can get all their questions answered (if the answers are not available at the moment). An outline of positive p oints may help with the situation. Never threaten an employee with their job but be clear about the consequences of failure to comply. Following these easy steps will allow both manager and the employee to maintain a friendly environment and will show the manager as person of character and integrity. As the employee moves on they will remember how good the manager treated them and will most likely do the same when they find themselves in a similar position. What would you do if any engineer requested not to be sent overseas? Good staff communication is essential to business success. A manager can tie back almost every employee issue. According to a study companies that communicate effectively are far more likely than companies that dont to report high levels of employee engagement and lower levels of turnover. (www. goodcommunicationskills. et, 2008) If any engineer request not to be sent overseas a good explanation would be require to be exempt from this assignment. Manager or S upervisors enjoy motivated and dedicated employees. If by any reason an employeeââ¬â¢s does not demonstrate willingness to travel or enrich their professional and personal life a manager is forced not to consider this employee for any future assignment and most probably would not grow with the company. If by the time of the hiring process in the contract was stipulated that the position would require relocation or travel then the employee have no choice but to comply with the assignment. Conclusion All managers and supervisors have to make decisions every day. Some decisions are relatively straightforward and simple. Others are quite complex. Simple decisions usually need a simple decision making process. But difficult decisions typically involve issues like uncertainty, complexity, high-risk consequences, alternatives and interpersonal issues. With these difficulties in mind, the best way to make a complex decision is to use an effective process. For this reason managers deci sion making techniques were create Donââ¬â¢t waste time! Our writers will create an original "Problem solving and decision-making" essay for you Create order
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