Capacity Of Minors In Contracts

Capacity Of Minors In Contracts A contract involves s a promise between two persons for the exchange of either good or services. A contract signifies the free consent of the parties to the contract to be bound by law. For a contract to be valid, it must have these basic elements: mutual assent, consideration, capacity, and legality. Mutual assent is characterized by offer and acceptance through mutual accent; consideration, on the other hand denotes any form of compensation with something of value for the goods or services traded. A contract between persons, either natural persons or legal persons, who have no capacity to contract can either be voidable or void depending on the case. Legality gives the condition that should be satisfied for a contract to be excised by the law. Illegal contracts are for example those involving illegal activities. For example one cant bring a plea of damages to a court of law for breach of a contract entered into to kill another person. The possible remedies for breach of contract are; consequential damages, general damages, , and specific performance. This paper will examine the capacity to contract as pertains to contracts entered by minors minors. Keywords: capacity, contract, capacity, legality, consideration, mutual accent void/voidable. Capacity of Minors in Contracts Capacity to contract relates to both natural and artificial persons. Although the general case is that an adult of sound mind will have full capacity to contract, they may claim that the contract is not enforceable due to such reasons as undue influence, or mental incapacity at the time of entering into the contract. Contractual capacity also does apply to corporate. The age of a minor may vary from country to country but the most states put the age at 18 years. The genera rule that bound contracts entered with minors are that they are not legally liable for any contract which they enter into whether willingly or not (Koffman Macdonald, 2007 p. 476). This does not however remove the burden of performing the contract for the other person to the contract. If the breach the contract, they are liable to the minor for damages. If however the minor when they attain the age of minority choose to ratify the contract, they are legally bound from the date of ratification. If the minor upon reaching the age of majority chooses to end the contract, he relieves himself of any liabilities that the contract placed on him. There are however some contracts which when the minor enters into, he is bound by. These include the contracts for supply of necessaries, employment or beneficial contracts and those for analogous supplies. There is another category of contracts which are voidable at the option of the minor but are binding on him upon reaching the age of majority and does not repudiate them within a reasonable time after that (Koffman Macdonald, 2007). Among the contracts that form the major part of exception for the general rule of lack of capacity of minors is the contract that relate to provision of necessity. The law require that the other part to the contract to prove that the contract that they entered into with the minor is for necessity (Nash v Inman 1908). Necessities include both goods and services. In chapel v cooper (1844) it was held that a contract entered by a minor to bury his father was a contract of necessity. The case will decide whether the contract is for necessity subjectively and this will even depends on the social status and age of the minor. Generally, the things regarded as necessary are those which a person cant live without such as food but articles for luxury are mostly disallowed irrespective of the class of the infant contractor (Chapler v Cooper per Alderson ). The sale of goods act however defines goods of necessity as those goods sustainable to the condition of life of the minor (peter v Fleming ( 1840)) (Contracts, 2010). In this case a breast pin and a watch chain were considered as necessities. A person cannot rely on the fact that the terms to the contract are harsh or onerous to remove the contract from the generally beneficial category. This was seen in Barnes V. Smethurst where it was the court held that the existence of such terms may make the unenforceable against the minor (Anson Huffcut, 1899). This exception is based on the foundations of the minors obligation to make fair payments for the goods that they received irrespective of the satisfaction that they get from the goods. This removes the minors liability incase the contract is a purely executory one (Nash v Inman (1908)). The second exemption to the general rule relates to employment and analogous contracts. This is based on the value that prevents a minor from seeking skills that will enable them to earn a living. This is the reason why employment and analogous contracts are enforceable on the minor provided that the contract as a whole is beneficial to the minor (Koffman Macdonald, 2007 p. 469). In Clement v London and north western railway co. (1894), the courts held that the contract as a whole was beneficial to the client and prevented him from claiming under the 1880 act since the insurance contract covered him from even those injuries that were not due to the negligence of the employer. It was therefore ruled that on the overall, the contract was to the advantage of the minor. There are some contracts that are considered a beneficial to the minor. These include contracts for services such as those of education, training, apprenticeship. If these contracts contain clauses that are not overly beneficial to the minor, the minors liability to in the contract will be waived such as in De Francesco v Barnum (1889). Although the law gives a minor protection from contractual obligation on them, they are liable under tort and also if they are emancipated. Minors are liable, in tort, provided that the tortuous activity is not one that will not amount to enforcement of a contract. In R. Leslie ltd V Shiell (1914), the court held that the plaintiff could not recover the amount in loan from the minor who had misrepresented his age since the courts would have been enforcing a contract that is not otherwise binding on the minor. This is also the case where a minor guarantees a loan (Koffman Macdonald, 2007). The law also seeks to provide protection to these who deal with minors. If a minor escapes a contract for example for rent, they can be sued for rent that has accrued during their stay in the house but not that part which is not yet due. To protect the suppliers, the law will prevent the minor from claiming the money that they have already paid whether or not the contract was for the supply of necessities (Abbott, Pendlebury, Wardman, 2007). Equity will not allow the minors to seek specific performance against the other party to the contract since equity will not allow for specific performance against minors. This statute and that of subrogation see to protect the other party to a contract with the minor while at the same time seeking to uphold the interests o f the minor (Abbott, Pendlebury, Wardman, 2007 p. 115). Emancipation on the other hand gives the minor some adult rights. Emancipation refers to freeing someone from the control of another. A minor is emancipated from the parents upon getting legally married, when they reach 18 or when in active duty with the armed forces of the United States (Emancipation of Minors). When one is emancipated, their parents no longer have control over their affairs and are also not legally bound to pay for damages the minor causes to others properties. This means that they will be liable for the breach of contract that they enter into regardless of whether they are of necessity or not. The laws reacting to capacity to contract can vary from state to state to state as well as from country to country. In the US, the major variation on the minors capacity to contract is o the age of minority which varies from state to state. However, most states put the age at 18 but this ac vary to up to 21 years in other states. Another law tat varies from individual state is that relating to disaffirmance of voidable contracts. Some states will allow disaffirmance for tort violations while others dont if the consideration cannot be returned. Different countries have different laws regarding minors capacity in a contract and especially as regards to age of minority. Most countries have the ages of a minor fixed at 18. These include countries like New Zealand, Canada and Australia while others disregard the age especially where the minor engages is serious crimes and he is tried like an adult. In the US, the age is 18 but different states will vary the age based on their cultural diversity (Contracts, 2010). The US laws allow the minors to consent on matters affecting them such as on use of contraceptives, abortion and treatment for alcohol and drug abuse. They are also allowed to seek expert help from doctors on such matters as reproductive health and other confidential services that they would rather not do with their parents. They can therefore enter into legally binding contract to get those services. The issue of incapacity applies due to the need to protect the person who is incapacitated (or in the case of companies, the shareholders) but at the same time not treat so harshly the other party to the contract. This is always the case because the incapacitated person may not comprehend the effects that the contact as pertains to the on the rights of the other person to the contract. The laws of capacity of a minor because they help to form legal boundaries that ensure that minors are not exploited. This is especially in regard to minors whose parents have left them vast estates. In such cases, since the minor will not always act in a way that is of best interest to the estates that they inherit, expert trustees are put in charge of taking care of the estate until the person reaches the age of majority when they can make independent and well informed choices. Standardization of the legal age and the rules that govern contracts with minors is important to those who deal with them since although the contract with a minor creates legal liability to the other party to the contract and not the minor, standardized definition of the minor is helpful to avoid losses that accrue due to contracts with incapacitated persons Conclusion The law of contract is especially important since most of the transactions that we carry out on a day to day basis involve contracts. As such it is important to lay guidelines as to when a contract is valid and can be exercised by law and when its void. Contracts with minors on the other hand present special challenges since minors may not always act in their best interests. The laws of different states have well laid down laws that are the basis for dealing with cases that involves minor contracts. Most of these laws are based on UK common law and the law of equity. Equity will seek to protect the other party to the contract from the actions of the minor to ensure that they dont suffer unduly when they deal with the minor. The two important statutes of equity are those based on subrogation and specific performance.

Cinderella Trend Analysis

Cinderella, directed by Clyde Geronimi, is a movie about a pretty girl who has been made a servant by her ugly stepmother and stepsisters, and deserves a better life. Cinderella is the fairy tale basis for all other movies, in which the underdog prevails against all odds. Ever After, directed by Andy Tehnant, is a movie based on Cinderella. Besides some differences in characters and a change in setting, it has the same good beats evil concept. Maid in Manhattan directed by Wayne Wang is a newer version. It brings motherhood and a difference in ethnicity to the table. Although the servant girl also prevails in this newer version, she does so by working hard at her job and keeping her independence. The article, â€Å"Fairy Tales and a Dose of Reality†, by Catherine Orenstein, is about the non-realistic fairy tales that media today still displays. Between picking bachelors and winning game shows, these unrealistic shows give people false perceptions. â€Å"Commercialism, Materialism, and the Drive to Fulfill Beauty Ideals in the United States† by Katie Hickey, is an article that discusses some of the media affects on girls. All of these sources deal with the trend of girls trying to become the perfect image. During the process of idealizing the perfect image, many girls suffer psychological problems with themselves and their own body image. Since the times when artists inaccurately drew their models to create a more appeasing painting, the media has always touched up women. This trend is demonstrated from paintings, magazines, fairy tales, and television. Shows like â€Å"The Bachelor† and â€Å"Joe Millionaire† demonstrate how easily won over a man can be by a simply beautiful woman. Many of the women are far from intelligent but one standard to be a participant seems to clearly be looks. From Katie Hickey's article, â€Å"women stare at beautiful female faces out of aesthetic appreciation, to look for potential tips-and because a beautiful woman could be a rival worth monitoring†. Women in media almost always measure up to the physical perfection standard. Because of this, competition also is a motive in this trend. People learn from fairy tales that if a prince gets a choice between two women, he will pick the most attractive one. This is true for everyone and is pure genetics. One of the first lessons taught is to not judge from the outside, but that it is what’s inside that counts. Realistically, first impressions are mostly visual and make huge impacts. People understand this and go to the media to know what they are supposed to look like. Causes that lead this trend to continue are mostly pressure from expectations of society. Media, advertising, and fairy tales people grow up with, all play a role. In Ever After, Jacqueline is treated worse than her sister is because their mom believes she could not possibly have a chance with the prince. Margaret, however, is displayed as a petite figure with blue eyes and blonde hair while her sister is thicker in size with black hair and brown eyes. Margaret gets special treatment and the adoration of her mother while Jacqueline, at one point, even gets chores thrown at her like she is a servant. Again, in Cinderella, the stepsisters are portrayed as ugly and deviant without a chance at the prince. Cinderella on the other hand, is petite, blonde-haired, blue-eyed, and although she is deviant, viewers long her to win the prince’s heart. She lies just as much as the stepsisters but has more of a chance at the prince because the charming prince could only want a charming wife. When young girls grow older, they drop the fairy tale role models and move on to models that are more realistic; the ones on television that are lean, mean, dieting machines. Mothers always tell their daughters not to idolize models because the magazines use effects and touch-ups to create their beauty. Although this is true, those models are still something to compare to and thus still create a competition atmosphere. They are the ones that create the fashion, hair, and make-up fads. They are the ones people read about getting thinner and getting plastic surgery. Why should advertisers stop this? After all, â€Å"In 2006 alone, the top 20 global beauty companies accumulated one hundred and four billion in sales† (Hickey). Television is broadcasted for one thing and that is to sell. As long as people are willing to buy, these media messages will not be stopped. The social impact of this trend is the growing amount of girls and women with bulimia, anorexia, drugs, and plastic surgery. With the perfect bodies and models in majority of the media, the next step for the women around the world is a quick and easy way to have the same image. With new technology, there is more and more ways to quickly change your body, many being in unhealthy ways. †According to a survey, sixty-seven percent of women in the U. S. between the ages of twenty-five and forty-five are trying to lose weight. Fifty-three percent of these sixty-seven percent are already at a healthy weight and are continuing to try to lose more† (Hickey). In Maid in Manhattan, Marisa Ventura does not get noticed in her aid uniform. It takes her dressing up in expensive clothing to get a man to notice her. This is the same in Cinderella and Ever After. Not only do the men not notice the underappreciated women, but when they find out the women are lower class, the men are furious and appalled. The message that is getting across to women is if you are not naturally a Cinderella, change yourself to become what society expects to be able to be saved by prince charming. The pressures of media and of having a perfect body image can cause psychological problems to many. When young girls grow up reading fairy tales and happily ever afters, the princess who prevails is clear to them. As girls get older, this trend does not go away, it only changes idols. Pressures of the media, friends, and even pressures of one’s own standards can cause things like bulimia, anorexia, or the rise in plastic surgery. This will also cause many health problems to more and more girls at strikingly younger ages. Self-esteem can also be lowered when constantly comparing one’s self to the high standards the media feeds us. This trend is likely to continue because of advertising, and expectations of society.

Professional Research Papers - an in Depth Anaylsis on What Works and What Doesnt

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Ap European History Outline Chapter 10 Essay example

Mr. Dunbar AP European History Chapter 10 Outline: Renaissance and Discovery Section One: The Renaissance in Italy * Section Overview * Jacob Burckhardt, a Swiss historian, described the Renaissance as the â€Å"prototype of the modern world† in his book Civilization of the Renaissance in Italy (1860) * In Italy blossomed new secular and scientific views * People became to approach the world empirically and draw rational conclusions based on observation * Burckhardt saw the emergence of the modern world emerge from that of the pre-modern, or medieval, period * Some criticize Burckhardt for overlooking the continuity between the Middle Ages and the Renaissance * Scholars agree†¦show more content†¦* Despotism in Florence * Cosimo’s grandson, Lorenzo the Magnificent, ruled Florence in a totalitarian fashion during the last quarter century of the fifteenth century * Lorenzo’s brother had been assassinated by a rival family, the Pazzi, who had long plotted with the pope against the Medicis which made Lorenzo a cautious ruler * Desp otism throughout Renaissance Italy * Oligarchies, or a small group of wealthy elites, hired strongmen, or despots, known as podesta to maintain law and order * Podesta held executive, military, and judicial authority, and had the task of maintaining the normal flow of business activity in the city state by whatever means necessary * Condottieri—military brokers who sent mercenary armies who were hired by the despots of the different city-states; since the despots could not rely on the loyalty of their divided populaces to serve as soldiers, they relied on mercenaries who they contracted through condottieri * Some despots, like the Visconti and Sforza families in Milan, came to rule their respective city-states free from interference from oligarchies * Political turbulence and warfare of the Renaissance period gave rise to the art of diplomacy and many despots established resident embassies and appointed ambassadors to other powerful city-states and nations * Humanism * Schola rs debate over the meaning ofShow MoreRelatedWhat Aspects Of Human Life Remain The Same Across All Three Groups2974 Words   |  12 Pagestransformation from hunting and gathering to agriculture probably occur? 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Taylor, III Organization of This Text: Part I – Operations Management Intro. to Operations and Supply Chain Management: Quality Management: Statistical Quality Control: Product Design: Service Design: Processes and Technology: Facilities: Human Resources: Project Management: Chapter 1 (Slide 5) Chapter 2 (Slide 67) Chapter 3 (Slide 120) Chapter 4 (Slide 186) Chapter 5 (Slide 231) Chapter 6 (Slide 276) Chapter 7 (Slide 321) ChapterRead MoreWhat Are the Impacts of Rfid in Oil and Gas Supply Chain Management?21195 Words   |  85 PagesCONTENTS: Executive Summary †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5 Acknowledgements †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 Table of contents †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 Definition of Terms/Abbreviations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 10 List of figures †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦... 11 Chapter 1: Introduction to the study †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 12 Introduction to the problem †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..14 Importance of the Study †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦14 Rationale of the Study †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦

Arthur Miller s Death Of A Salesman And John Steinbeck

Arthur Miller in his play Death of a Salesman and John Steinbeck in his novella Of Mice and Men portray characters in light of hopelessness and not achieving the American dream. Although the play and the novel are different, they share clear similarities. Characters in both texts want to pursue the American dream. Steinbeck set the novel in 1937 because the Great Depression had started nine years before. Steinbeck may have set the novel at the time to show the impact the Depression had on migrant workers and people who were living in America. This shows hopelessness and the failed American Dream because many businesses failed at the time and there was a lot of poverty. This suggests that people were poorly paid even though they worked for a living. On the other hand, Death of a Salesman was written in 1949 after World War II. However, the economic boom started in America 1920 and was after World War I. Even though, the war did not directly affect American society, the demand for Amer ican good was rising rapidly and this caused rapid growth for the farming and industries. These circumstances inspired the authors to portray real life characters in their struggle. Of Mice and Men shows the loss of hope and the broken American Dream because George and Lennie were migrant workers travelling to find work. Also, migrant workers who worked on the ranch struggled with the low wages that they earned. This meant that when George and Lennie did find work, they were unable to save andShow MoreRelatedOf Mice And Men By John Steinbeck1452 Words   |  6 PagesThe novella â€Å"Of Mice and Men† by John Steinbeck (published in 1937) and the play â€Å"Death of a Salesman† by Arthur Miller (published in 1949) both focus on the idea of the American dream creating a better life for oneself in a land of opportunity. However, both texts question whether this dream is achievable or just an illusion which is unattainable. Steinbecks novella â€Å"Of Mice and Men† tells the tale of two migrant ranch workers, George and Lennie, with a dream of getting their own farm. The genuineRead MoreJohn Steinbeck s Of Mice And Men1051 Words   |  5 PagesBesides the American Dream, the theme of death plays a major role and is recurring in both texts. From the novel ‘Of mice and men’, both Lennie and Curley’s Wife die. From this we can deduce that they both got killed due to their differences and society looking at them in a different way. Both texts also foreshadow the future deaths from the beginning to the end of the texts, there is hints everywhere. The moment that Curley’s Wife was introduced, an ill feeling overcame the atmosphere indicatingRead MoreAnalysis Of Of Mice And Men And Death Of A Salesman1810 Words   |  8 PagesAmerican Dream is the idea that opportunity is available to any American, allowing the highest aspirations and goals to be achieved. I will be examinin g how John Steinbeck and Arthur Miller elucidates the theme of hopelessness ingrained in the American Dream, through the analysis of the many characters in their texts(Of Mice And Men Death Of A Salesman).Of Mice And Men was set in 1937,it had been set in the event of the great depression , at this time unemployment rate had boosted up, thus leavingRead MoreAnalysis Of Death Of A Salesman And Of Mice And Men 1943 Words   |  8 PagesArthur Miller and John Steinbeck portray the failure and hopelessness of the American dream in the play â€Å"Death of a Salesman† and in the novella â€Å"Of Mice and Men†. The American Dream is the idea that any man or woman can make his or her own fortune, despite his or her past. The principles of the American dream are hard work and determination it is believed that this will ensures success. Through the creation of the main characters of the play and novella Arthur Miller and John Steinbeck show thatRead MoreGatsby As A Utopian Society Essay1236 Words   |  5 PagesHowever, the same concept also proves true beyond America. As it symbolizes the death of an equal, Utopian American society, Gatsby’s death parallels the immediate setting descriptions in Nathaniel Hawthorne’s The Scarlet Letter. Hawthorne notes that, despite their original goals of a virtuous Utopia, the founders of the colony â€Å"invariably recognized it† as necessary to, first and foremost, â€Å"allot a portion of the virgin soil† for both a prison and a cemetery (Hawthorne, 39). This colony cannot beRead MoreEssay about Of Mice and Men By John Steinbeck3008 Words   |  13 PagesOf Mice and Men By John Steinbeck 1. How significant is the theme of loneliness in Of Mice and Men? 2. To what extent is it correct that The Great Gatsby, Death of a Salesman and Of Mice and Men explore important, but different aspects of ‘The American Dream’? 3. What is the importance of dreams and dreaming to the success of Of Mice and Men? A. Background Information Describe the historical background to the novel i.e. the USA in the mid/late 1930’s The USA of the midRead MoreBrief Survey of American Literature3339 Words   |  14 PagesAmerican / American Indian oral literature / oral tradition creation storiesï ¼Ë†Ã¨ µ ·Ã¦ º Ã§ ¥Å¾Ã¨ ¯ Ã¯ ¼â€° trickster talesï ¼Ë†Ã¦  ¶Ã¤ ½Å"å‰ §Ã¨â‚¬â€¦Ã¤ ¼  Ã¥ ¥â€¡Ã¯ ¼â€° rituals / ceremoniesï ¼Ë†Ã¥â€¦ ¸Ã¤ » ªÃ¯ ¼â€° songs / chantsï ¼Ë†Ã¦â€º ²Ã¨ ¯ Ã¯ ¼â€° Anglo Settlers’ Writings Highly religious and pragmatic - John Smith, founder of Jamestown, Virginia; Pocahontas - John Winthrop, â€Å"A Model of Christian Charity†: â€Å"†¦ We shall be as a city upon a hill. The eyes of all people are upon us†¦Ã¢â‚¬  - William Bradford, Of Plymouth Plantation (1630-50, pub. 1856) - Anne Bradstreet (1612-1672)

Informative Speech Rough Draft Outline Introduction Free Essays

Informative Speech Rough Draft Outline Introduction:Do you find yourself not having as much energy during the week as you used to when you were in high school? Do you find that you get irritable more often? General Purpose:I am here to inform you about Chemical Warfare. Preview Statement: First we will talk about what is Chemical Warfare. Then we will explorehow Chemical Warfare works, and finally we will discuss the advantagesand disadvantages of Chemical Warfare. We will write a custom essay sample on Informative Speech Rough Draft Outline Introduction or any similar topic only for you Order Now I. What is Chemical Warfare? A. To begin what is the definition of Chemical Warfare. 1. Chemical Warfare definition (1) 2. Munitions and agents B. Next, what are some types of Chemicals used in Chemical Warfare. 1. Nerve Agents (2) a. Attacks the nervous system b. Symptoms 2. Vesicant/Blister (2) Transition:We have finished talking about, what is Chemical Warfare. We will be moving on to how Chemical Warfare works. II. How Chemical Warfare works. A. First, how Chemical Warfare weapons are depolyed. 1. Dispersion Technique (2) 2. Thermal dissemination (2) B. Next, how Chemical Warfare is deemed effective. 1. Shortage of supplies 2. Inaccesblie areas Transition: This concludes how Chemical Warfare works; now let’s finish with the advantages and disadvantages of Chemical Warfare. III. Advantages and disadvantages of Chemical Warfare A. First, let’s talk about the advantages of Chemical Warfare 1. Cost of using Chemical Warfare (3) 2. Hard to defend against (2) B. Finally, let’s talk about the disadvantages of Chemical Warfare 1. Casualties (3) 2. Unreliable accuracy (2) a. urban environments b. controlled sections Conclusion:I will signal the end of my speech with a post summary. I will regain the attention of the audience by using the full-circle method. I will clinch by making the end sound like the end. How to cite Informative Speech Rough Draft Outline Introduction, Essay examples

Economics and Globalization for Business Management †Free Sample

Question: Describe about the Economics and Globalization for Business Management. Answer: History of Economics and Globalization: The importance of globalization in the present world cannot be overemphasized. According to Professor AmartyaSen, the act of globalization has led to the economic, scientific and cultural enrichment of a nation. However, the question is, when did the global integration of markets actually started, and how. It is worth mentioning that though Adam Smith never mentioned the term Globalization even for once in his book, The Wealth of Nations, there is an underlying concept of the same. It is said that even during the primitive time, as the division of labor was introduced, the need for specialized experts emerged, and consequently it became imperative to bring people from various parts of the world that ultimately led to the expansion of trading networks (Ruzana 2015). In the words of Van Der Wee, the process of economic globalization started in Europe during the 11th and 14th centuries (Fujita and Thisse 2013). While during the 17th century, globalization aided countries in the expansio n of trade through the establishment of the British East India Company or the Dutch East India Company, the process continued through the colonization of America by Europe. During the 19th century, however, owing to the growth of industrialization, as well as the rise of imperialism, new trade relations started getting established between nations. Finally from the 20th century onwards, with the invention of technology, the process of homogenization of cultures and nations led to the growth of globalization (Antuneset al. 2016). Again, as far as the history of Economics is concerned, the subject has been evolving itself for more than hundred years. During the time span of 850 to 1000 AD, with the rise of feudalism, the idea of trade exchange emerged, as land was held in lieu of the service offered. Further during the 18th century, Adam smith spoke about the marketing operations in a self-regulatory way, through the intervention of invisible hand. Followed by Smith, J.S Mill, and David Ricardo also started discussing about the capitalist markets, and the utility of goods and so on. Further, a group of neoclassical economists also emerged, such as John Maynard Keynes, who started introducing and establishing the scientific as well as the mathematical concept of economics (Negishi 2014). Introduction to Balance of Payments: The Balance of Payments, also referred to as the BOP, is the statement used in one country in order to record each of its economic transactions with the rest of the world. The Balance of Payments, also popularly known as the Balance of International payments, records the detail of each transaction taking place between a particular countrys residents and the non-residents, in terms of goods or services, liabilities or transfers (Xingyun 2015). The Balance of Payments classifies and categorizes the transactions into two groups, and records accordingly into two separate accounts. While the details of the transactions between countries, in terms of goods and services, or investment income, are recorded in the Current Account, the transactions in terms of financial instruments are recorded in the Capital Account. However, one thing should be remembered, that the data recorded in the Balance of payments is not at all concerned with the actual amount of payment incurred or received by a cou ntry. Despite its name, the Balance of Payments helps actually deals with the details of the transactions. It should be noted here, that there are multiple transactions in an economy that do not in any way involve the exchange of money, and yet these are recorded here (Barbosa-Filho 2012). Hence, the figure of the amount entered in the Balance of payments, and the figure of the net amount paid by a country to a foreign nation, will differ. The Balance of Payments of a nation is highly important, as it helps in formulating the national as well as the international economic policy. One of the important advantages of the Balance of Payments is that it highlights, and thereby helps to understand the competitive strength as well as weakness of a nation In case there the total payment of a country as recorded in the Balance of Payments, exceeds its total receipt, there will be deficit, while in case of receipt exceeding the payment, there will be surplus. It should be remembered that the Balance of Payments helps a nation understand the extent to which a country will be able to meet its obligation of exchanging its own currency as against the currency of other nations (Kyle 2015). Productivity and Comparative Advantage: Ricardian Model David Ricardo is a popular name known for the introduction of his classical theory of comparative advantage in economics, in the year of 1817. The Ricardian model helps in providing a mathematical concept of global trade. Ricardo talks of the importance of Comparative Advantage, as opposed to the concept of Absolute Advantage as taught by Adam Smith (Ishise 2015). According to Ricardo, the importance of Comparative Advantage lies in the fact, that it helps a country produce goods that it specializes in, while buy goods from a foreign country that its own labor power is able to produce less efficiently. This helps the country enjoy economic advantage, and the whole concept was explained by David Ricardo through an example that follows: Figure 1 : Comparative Study of Labor Efficiency of England and Portugal as Demonstrated by Ricardo Source : (Naito 2012) As it can be seen from the above chart, England requires as much as 120 hours producing a single unit of wine, while the country 100 hours to produce a unit of cloth. Again, on the other hand, Portugal requires 90 hours to produce a single unit of cloth, while relatively speaking it requires only 80 hours producing a unit of wine. Hence, from here, it is evident that England enjoys greater efficiency in producing cloth, as compared to Portugal, while the latter enjoys greater efficiency in the production of wine. Keeping this in consideration, Ricardo states that it would be effective as well as efficient if England produces the good it specializes in, such as cloth in the present case, and Portugal produces what it specializes in, such as coffee in the present case (Jaimovichand Merella2012). This is what is being referred to as the Comparative Advantage by Ricardo. From producing the products, in which one nation enjoys productivity, and then exchanging the good with a country that does not enjoy the productivity in that good, and vice versa help of the countries enjoy advantage over the other. This also goes to underline the importance of international trade, as pointed out by Ricardo. Ricardo very notably argues, that even if a particular country excels in the production of various goods, it still should engage in international trade. Ricardo through the theory of Productivity and Comparative advantage, upheld that given the situation where labor difference exists, free trade between nations should be encouraged. Accordingly the Ricardian model is one of the most fundamental models being used in international trade (Kurokawaet al. 2016). Resources and trade: Heckscher Ohlin Model The Heckscher Ohlin Model is another important mathematical model that is being widely used for understanding the real concept of international trade. The model in named after the names of the two most important Swedish economists- Eli Heckscher and Bertil Ohlin.It is needless to state that this model in itself in an extension of the theory propounded by David Ricardo. According to the Heckscher Ohlin Model, the goods that are being exported by a particular country, are those which use abundant and local factors of production. On the other hand, the good which are imported by a nation are those which are produced using scarcely available factors of production in the country. In this way, the Heckscher Ohlin Model seeks to claim that the factors of production, such as land or capital will largely determine the concept of Comparative Advantage as enjoyed by a specific nation (Kawagishiand Mino2016). A countrys trade thus is highly determined by the factors of production possessed by the country. For instance, it is assumed that there is a country where capital and land required for the production of a good are abundant, then it is evident that the total cost required for the production of the good is low. Again, on the other hand, if the country suffers from scarcity of labor, it will definitely indicate a rise in the price of the labor supply. In case of the first situation, it is advantageous for the organization to consume as well as export its products as the cost is low, while in case of the latter, instead of producing the product at a higher price, it is advisable to import the same from another country, where the labor is abundant, and hence available at a cheaper price (Bond et al. 2012). Hence, the Heckscher Ohlin Model upholds that a country should export a product that it can effectively produce, while it should import any product that cannot be plentifully or at lea st effectively produced in the country. This model places a very strong emphasis on the importance as well as benefits of international trade. The model has considerable relevance in the presently competitive market, where as new markets emerge, labor supply becomes scarce, and consequently the price of labor goes high. However, this model explains that in such crucial situations, a country instead of focusing on local market, must trade internationally as the cost of labor supply caries from one country to another. The same holds truth for any kind of factor of production (Iwasaand Nishimura2014). Standard Trade Model: The Standard Trade model is an important concept in Economics. There is a lot of debate going on as to what exactly should be the standard model of trade, and while no economist seems to agree on one point, Krugman and Obstfeld in the year of 1991 claims that a model with curved PPF, perfect competition, and consumer preference, that can also at the same time be represented with the help of the community indifference curve, can be regarded as the standard trade model. Hence, the above mentioned model also includes the H-O Model as well as the Specific Factors Model (Dal Band Dal B2012). It is important to note here that the standard trade model actually incorporates different economic theories. According to this model, the net value of an economys total amount of consumption will always be equal to the total amount of production. According to the Standard Trade model, the differences in the availability of the factors of production in two countries, such as land, capital or physical labor, as well as other factors such as technology will undoubtedly create differences in the productivity available between the two countries. Besides, such differences in productivity will be regarded as the differences in the production possibility frontiers that in turn will again represent the different productive capacities of the two countries concerned. Again, according to the theory, any nations PPF (Production Possibility Frontier) will always be determining the relative supply curve of the particular country. Last but not the least, this model also seeks to highlight the fact that the national relative supply curves will always be determining the world relative supply, which again along with world relative demand will also determine equilibrium under the international trade (Baldwinand Robert-Nicoud2014). Reference List: Antunes, C. and Fatah-Black, K. eds., 2016.Explorations in History and Globalization.Routledge. Baldwin, R. and Robert-Nicoud, F., 2014. Trade-in-goods and trade-in-tasks: An integrating framework.Journal of International Economics,92(1), pp.51-62. Barbosa-Filho, N.H., 2012. The balance-of-payments constraint: from balanced trade to sustainable debt.PSL Quarterly Review,54(219). Bond, E.W., Iwasa, K. and Nishimura, K., 2012. The dynamic HeckscherOhlin model: A diagrammatic analysis.International Journal of Economic Theory,8(2), pp.197-211. Dal B, E. and Dal B, P., 2012. Conflict and Policy in General Equilibrium: Insights from a Standard Trade Model.The Oxford Handbook of the Economics of Peace and Conflict. Fujita, M. and Thisse, J.F., 2013.Economics of agglomeration: cities, industrial location, and globalization. Cambridge university press. Ishise, H., 2016. Capital heterogeneity as a source of comparative advantage: Putty-clay technology in a ricardian model.Journal of International Economics,99, pp.223-236. Iwasa, K. and Nishimura, K., 2014. Dynamic two country HeckscherOhlin model with externality.International Journal of Economic Theory,10(1), pp.53-74. Jaimovich, E. and Merella, V., 2012. Quality ladders in a Ricardian model of trade with nonhomothetic preferences.Journal of the European Economic Association,10(4), pp.908-937. Kawagishi, T. and Mino, K., 2016.Time Preference and Income Convergence in a Dynamic HeckscherOhlin Model.Review of International Economics. Kurokawa, Y., Pang, J. and Tang, Y., 2016.Exchange Rate Regimes and Wage Comovements in a Ricardian Model with Money(No. 2013-005).Economics, Graduate School of Humanities and Social Sciences, University of Tsukuba. Kyle, J.F., 2015.The balance of payments in a monetary economy.Princeton University Press. Naito, T., 2012.A Ricardian model of trade and growth with endogenous trade status.Journal of International Economics,87(1), pp.80-88. Negishi, T., 2014.History of economic theory(Vol. 26).Elsevier. Ruzana, M., 2015.Historyof Globalization.AnaleleUniversitatii" Constantin Brancusi" din TarguJiu. SerieLiteresiStiinteSociale, (1), p.75. Xingyun, P.E.N.G., 2015. Balance of Payments.World Scientific Book Chapters, pp.453-477.