Contract law on either the promise principle or on the principle of economic efficiency Essay Example

Contract law on either the promise principle or on the principle of economic efficiency Paper In this essay, these two distinct theories will be examined respectively and illustration will be appearing in cases. Frieds explanation of contract law centers on the promise principle, which he sees as the moral basis of contract law. He suggests that all contracts are promises, which are morally enforceable according to the moral conception a promise must be kept. Therefore it is appropriate for the law to enforce them. Fried argues that by promising we transform a choice that was morally neutral into one that is morally compelled. 1 It is quite obvious that promises, from Frieds point of view, largely rest upon morality as its fundamental ground, which binds the promisor to his individual obligation of keeping his promise. This is a cultural based assumption that risks the danger of generalizing moralities. As the perception of standard of values varies through time beings and societies, it is almost impossible to generate an conception that will be well maintained and equally appreciated by all cultural and religions, especially those distinct from Western cultural basis. We will write a custom essay sample on Contract law on either the promise principle or on the principle of economic efficiency specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Contract law on either the promise principle or on the principle of economic efficiency specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Contract law on either the promise principle or on the principle of economic efficiency specifically for you FOR ONLY $16.38 $13.9/page Hire Writer After all, cultural is biased, and it should not be understood as a stable or steady ground to bring up enforceability on individuals as to fulfilling certain obligations. Frieds view also presupposes an intention to be bound on the part of the promisor, an individual is morally bound to keep his promises because he has intentionally invoked a convention whose function it is to give grounds-moral grounds-for another to expect the promised performance. He advocates the conception proposed by the will theory, which sees the contractual obligation as essentially self-imposed. It is suggested that this conception carry out an implication of liberal individualism, as individuals are at free choices when facing whether to bring up such obligation at the moment of promising. Notwithstanding the fact that promise principle was embraced as an expression of the principle of liberty,4 Frieds theory gives the implication that a moral obligation attaching to a promise becomes incurred rather than accepted by the promisor. 5 Hence the mere fact of giving a promise is to create a moral obligation to perform it, which is contradictory because now the individual liberty is somehow limited by choices. He also argues that a promise puts the moral charge on a potential act. A promise is a future action or performance invested in present tense. A promise binds into the future, well past the moment when the promise is made. 6 The moral obligation to keep the promise is a mean allowing persons to take responsibility for the good they choose, which demands high attention and respect. Furthermore, the freedom to bind oneself contractually to a future disposition is an important example of this freedom on disposition because in a promise one is taking responsibility not only for ones present self but for ones future self. Putting Frieds theory on testing. In Clifton v Palumbo 7, according to Frieds idea of contract, the court decision would have favored the defendant as the plaintiff had written in his very first note offering the defendant to sell his estate. His first note of writing promised the defendant this offer and so his promise should be kept, regardless of changing his mind later, as he may free to do so, but not free to break his promise8. Nevertheless, the court has hold for the plaintiff because his first note containing phrases and expressions of doubtful significance. Therefore, it did not constitute a contract in first place. In fact, the result of this case shows that Frieds definition is too wide since not all promises are contracts. 9 Frieds thesis is based on the value of individual liberty and responsibility. In contrast, Collins principle of economic efficiency puts emphasis on the balance between the respect for individual liberty and commmunitarian values on the law. Collins defines the purpose of the law of contract as chandelling and regulation of market transactions according to ideal of social justice. 0 He outlines the significant changes in modern law contract from the classical law of contract, which focuses on liberty, equality and reciprocity as ideals of the justice of exchange that make up the conception of the market order. Collins suggests these changes in modern law of contract concerns the legitimacy of the market order. Whereas the ideal of the justice of exchange perceived the virtue of the market order in its respect for the values of liberty, equality, and reciprocity. 11 Collins sees all exchange activities are market transactions, which may involve two or multiple parties. In order to assure that these transactions are operating under a fair sphere, market order should be carefully preserved so that individual liberty will not be interfered. Therefore, he points out the importance of communitarian values on the law. In his view, the states role is to maintain the prescription of fair market. 12 Two criticisms that are brought up to against the assumption of freedom of contract as suggested in classical contract law reinforce the impact of communitarian values on law. Firstly, the freedom of contract facilitates a subtle form of domination, no less effective for being the product of an agreement than if it were imposed directly by the state. 13 Large corporations are at advantage as they may routinely dominate their suppliers through contractual arrangement. Secondly, the fairness of distributive consequence in wealth is yet another result under the influences of freedom of contract because the state ignores the equivalence in value as to both parties. In order to serve in a place of a broad discretion to make enforceable contracts of ones choice, the modern law directly imposes patterns of responsibility and closely regulates the fairness of the distributive consequences of the operation of the market. 14 Collins concludes, modern law insists that the market order can be legitimate only when it achievers a proper balance between, on the one had, a respect for individual dignity and quality and, on the other, a fair distribution of wealth, the avoidance of unjustifiable domination, and a duty to respect the interests of others. 5 In addition, Collins agrees on that court often exercising a certain degree of discretion as case to case. Its the policy considerations that largely influence judges decisions, not the general rules. Furthermore, the policy factors that are taken into account in cases, often clearly signal the presence of the balancing process between respect for private autonomy and the communitarian value of concern for the interests of another runs through the modern law of contractual responsibility. In Holwell Securities Ltd v Hughes 16, the court favors Collins idea as they took relevant policy consideration into account. The plaintiff had posted a letter to excise his option to purchase. However the letter never reached the defendant, an acceptance was not communicated to the offeror. 17 In conclusion, both Fried and Collins theories have contributed greatly to the knowledge of contract law. The promise principle examines the contract through a moral perspective, whereas the principle of economic efficiency explains the law of contract in a social context.

Introduction to Managerial Accounting Essay Example

Introduction to Managerial Accounting Essay Example Introduction to Managerial Accounting Essay Introduction to Managerial Accounting Essay Introduction to Managerial Accounting For this case assignment I am to explain the responsibilities of the management accountant for security and financial integrity in an organization. I will also explain the relationship between management accountants and financial accounts and if I foresee an expanding role for management accounting in organizations. Management accountants work within a specific company. They perform many different tasks to ensure their company’s financial security by handling essentially all financial matters and therefore helping to drive the business’s overall management and strategy. A management accountant’s responsibilities can range widely. Level of experience, time of year, and type of industry, can find you doing anything from budgeting, handling taxes and managing assets to help determine compensation and benefits packages and aid in strategic planning. Management accountants, who are also called cost, managerial, industrial, corporate, or private accountants, record and analyze the financial information of the companies for which they work. Some of the management accountants’ responsibilities are budgeting, performance evaluation, cost management, and asset management. Management accountants can be a part of executive teams involved in strategic planning or the development of new products. Management accountants analyze and interpret the financial information that corporate executives need in order to make important business decisions. They also prepare financial reports for other groups, including stockholders, creditors, regulatory agencies, and tax authorities. Within accounting departments, management accountants can work in various areas, which can include financial analysis, planning and budgeting, and cost accounting. The relationship between management accountants and financial accountants is that their underlying objective is the same-to satisfy the information needs of the user, whether it’s for a specific company or for the public. It is very important to provide accurate financial information for the integrity of a company, no matter whom or which it is. Management accounting does rely on the information that is provided by financial accounting. Management accounting relies on information that is unbiased and that can be used as support material. Both fields require on accounting information that is not only accurate, but relevant and timely. Do I foresee an expanding role for management accounting in organizations? Definitely so! Management Accountants’ job responsibilities have very much changed over the past decade. Globalization, standardization, and more stringent financial reporting requirements has brought many challenges and changes to the way accounting has been done, regulations, and ethic. What was once known as financial record-keepers, management accountants today share the same responsibilities and skill sets with internal consultants and business analysts. Management accountants are less isolated, behaving more like financial managers by working on cross- functional teams and taking part in strategic decision. References bls. gov/oco/ocos001. htm, Office of Occupational Statistics and Employment Projection allbusinessschools. com/faqs/management-accounting. php, Â © 2002-2008 All Star Directories, Inc. All Rights Reserved.

12 Summer Programs You Can Still Apply To

As second semester heats up, you’re probably focusing on studying for APs, prepping for standardized tests, and keeping up your grades. If there’s any time left over, you’re juggling extracurriculars and family commitments. It’s no wonder that you might have forgotten that summer is just around the corner. If you’re just realizing that it’s time to start thinking about summer programs and plans, you may be disappointed to realize that some deadlines have already come and gone. There’s no reason to despair, though. Plenty of high-quality, well-regarded summer programs are still accepting applications. Here, we’ll introduce 12 awesome summer opportunities with application deadlines in mid-February or later. Don’t miss the chance to polish your skills and experience all that these amazing summer programs have to offer. This summer program combines seminars and collaborative hands-on projects to develop the skills essential to pursuing majors in the STEM field. Students are selected based on their strong academic records, and students who are underrepresented minorities, from families of low socioeconomic status, potentially first in family to attend college, or enrolled at rural or inner-city schools with historically low rates of admittance to top-tier colleges are invited to apply. There is so charge for tuition, room, or board, but students are responsible for books, supplies, and transportation. Apply by March 1, 2018 to be considered. Hosted by Arizona State University in Phoenix, this program hosts student journalists from across the country for two weeks of reporting, social media, web production, shooting and editing video and photos, and producing and directing a student newscast. Many tuition, room, board, and material costs are covered by donors. Students are expected to provide their own transportation and the cost of incidentals. Applications are due by March 16, 2018. This selective summer program teaches future leaders how to integrate economics into decision-making in a hands-on, experiential environment. The goal of the program is to build effective leadership skills and the skills to employ economic analysis. Sophomores and juniors are invited to apply and applications are evaluated based on leadership potential, maturity, and the applicant’s visions for their future. College credit is available through a partnership with the University of Colorado. The program cost is $1700, though scholarships are available, and the standard application deadline is March 15, 2018. Â   These free, seven-week long computer science summer programs are hosted by top tech companies across the country, including Amazon and Twitter. The goal of the program is to teach coding to sophomore and junior high school girls while offering exposure to tech jobs across disciplines. Computer science projects may include art, storytelling, robotics, video games, websites, apps, and more. Applications are accepted through March 16, 2018. This six-week intensive college-level math experience is described as demanding and expanding. Participants spend most of each day exploring math in engaging and hands-on ways. Students spend their mornings and evenings in classes and and problem sessions, with afternoons free to rest, read, and explore. Program cost is around $5000, but financial aid is available and the program states that money issues will not prevent an accepted student from attending. Applications are rolling but students are encouraged to apply as early as possible. Our Early Advising Program helps students in 9th and 10th grade discover their passions and build strong academic and extracurricular profiles to succeed in high school. Hosted by the Kelley School of Business, this program is intended to introduce high school girls to the college experience and business career opportunities. Students in this program spend one week participating in workshops, interacting with business students and alums, preparing a real-world business case study, and networking with women in business. High school juniors with a GPA of at least 3.5 on a 4.0 scale are invited to apply. Program cost is free but participants must cover transportation and personal expenses.

You choose A topic Essay Example | Topics and Well Written Essays - 1250 words

You choose A topic - Essay Example Brave Orchid studied in a medical school, and had spent nights in a room haunted by ghosts. She encountered actual ghosts there, and made a successful exorcism. Brave Orchid lived in the caves which served as shelter to the Chinese people in Japanese air raids. She calls Moon Orchid in the fourth chapter, her younger sister, and continuously badgers her to defy her husband who has abandoned her and had gone to America to a second wife. The final chapter discusses how Chinese women are quiet as compared to the American women. The chapter brings up Kingston’s childhood memories of her school. One of the main themes that â€Å"The Woman Warrior† presents is femininity. Kingston dreaming of being a warrior named Fa Mu Lan, motherhood and bravery of Brave Orchid, the role of Moon Orchid as a wife and sister, and Tsai Yen whose Chinese songs the grandma loved, all are a depiction of the femininity the Chinese women are believed to have. Kingston states, â€Å""Im not a bad girl," I would scream. â€Å"I’m not a bad girl. Im not a bad girl." I might as well have said, "Im not a girl"† (2.152). This statement shows how Kingston feels that her femininity is a shame for her when she observed the world treating her differently. Another theme presented in the novel is identity. Kingston has given the name ‘memoir’ to the collection of her stories, which means that all the stories are her personal experiences. She identifies herself as a Chinese woman who cannot understand the double standards women are subjected to in the Chinese culture and the identity of women in the American culture. â€Å"Chinese-Americans, when you try to understand what things in you are Chinese, how do you separate what is peculiar to childhood, to poverty, insanities, one family, your mother who marked your growing with stories, from what is Chinese?† (Kingston 1.12) shows how Kingston explores Chinese identity in America. Third main theme is communication. Kingston has tried to

Brighter Cleaning Essay Example | Topics and Well Written Essays - 1000 words

Brighter Cleaning - Essay Example y dynamic, comprising of factors that keep changing, for instance, customers’ tastes and preferences are never static, they keep changing in the face of technological advancements. In the same way, it is important that marketing strategies also keep changing in order to remain relevant and effective in the changing business environment. The name of my company is a Brighter Cleaning Company, which is located in Fort Wayne, Indiana. The company has 100 employees and over 10 years experience. The number of employees and experience puts the Brighter Cleaning Company in a position to handle any size of customers. Brighter Cleaning Company main focus is supplying cleaning products to the businesses around. The company offers products to some parts of Ohio: Defiance, Bryan, Plymouth, Peru, Lima, Napoleon, Celina and Coldwater. Other areas that the company’s products have gained popularity are: Auburn, Anderson, Angola Bluffton and Fort Wayne just to name a few. The Brighter Cleaning Company offers janitorial equipment and cleaning solutions products for furniture and floors. The cleaning products and janitorial equipment help in keeping the work places clean and free from germs. The products can be categorized into three major areas: equipment, paper products and cleaning chemicals. The specific products include brooms, brushes, dustpans, chemicals, dust mops, dusters and cleaning pads. Additional products are floor and furniture care, janitorial carts, paper products, rags and wipes. The Brighter Cleaning Company also offers receptacles, personal care, trash bags, liners, recycling equipments and replacement parts. The company’s mission statement is stated as; to become the leading provider of reliable and efficient cleaning services that leaves the workplace and other environment sparkling clean, free from germs and disease causing micro-organisms, as well as other health hazards. In achieving this mission, the company has so far identified janitorial

The Adventure of Tom Sawyer :: Essays Papers

The Adventure of Tom Sawyer The Adventures of Tom Sawyer is Mark Twain’s way of writing down his childhood in lively detail. The characters and settings were dear to him and he chose to depict the American Boy’s childhood as fun and fancy-free. The story is told trough Tom’s eyes and is enchanting and adventurous, just as any young boy’s life would be. His daily life included mischief and budding young love, which is told with great detail. Although it is a fictional account of one young boy, the story of Tom Sawyer has touched many readers and lives on today as it did when it was written long ago. Tome Sawyer does not have many relatives, his mother died and him and his half brother Sidney live with their Aunt Polly and cousin Mary. The setting was in the small, poor southern town of St.Pettersburg, Missouri right by the Mississippi River. Tom has a love for live and would rather be doing what he pleases rather than what is expected of him. In all of his mischievous moments his best friend and partner in crime is Huckleberry Finn. Although their goal is just to have fun, they somehow always end up in trouble. The trouble starts when Tom and Huck witness the murder of Dr. Robinson by Injun Joe. Muff Potter is framed and even though Tom and Huck know the truth they do not step forward because they are afraid of what Injun Joe will do to them. Although Muff Potter is tried and almost hung, Tom finally steps forward and does the right thing. Tom and Huck go on throughout the book and find themselves in deep water more than once. All of the characters in this novel are carefully depicted. They are alive in the story, the reader can feel all of Tom’s emotions. Tom is the main character of the novel and tells the story to the reader. Although he may seem like a boy that is always in trouble, he’s intentions are good. He has the common case of can’t sit still goot get up and go boy. This condition sometimes poses a problem as we see Tom weasels his way out of work and into play. Tom and Huck never plan on getting into trouble it has a way of finding them. Tom is driven by his youthful energy and mischief. Mark Twain wrote this novel using language common for the time period and location.

Concepts of Business Education Essay

Presentations: The nurses will be shown presentations by experienced nurses and doctors. 5. Quiz: There will be quizzes held for the nurses on the things taught. 6. Evaluation: The nurses will be evaluated according to their performance. 7. Demonstrations: The nurses will be given demonstrations by the experienced nurses on care giving. 8. Implementation: The nurses will have to demonstrate whatever they have learnt under the supervision of the department head. 9. Post evaluation: Depending on the performance of the nurses, they will be posted in the required departments. The most basic problem of philosophy of education is that concerning aims: what are the proper aims and guiding ideals of education? What are the proper criteria for evaluating educational efforts, institutions, practices, and products? Some of the AIMS proposed or involved in the educational endeavor are †¢cultivation of curiosity and the disposition to inquire fostering of creativity †¢production of knowledge and of knowledgeable students †¢enhancement of understanding †¢promotion of moral thinking †¢feeling and action †¢enlargement of the imagination fostering of growth, development, and self-realization Based on the AIMS concept we are building an online learning system for our employees: Ideally, the learning outcomes in order of priority are ?Translated into course content, resources and an approach to the teaching and learning process that will enable a student to achieve those outcomes. ?Once these basic parameters have been thought through, the courseware development team will share the responsibility of translating the theory and intentions into courseware and online learning functions. These courses will then be delivered by the learning management system (LMS) ? LMS will interface with the library and other digital resources & related services along with the student information system (SIS) ? This activity will be done through a secure server that can authenticate the student login. From the students’ point of view, they will connect to the LMS and the related services through a user-friendly users’ portal, with a single login, they can have access to their courses and can be linked to all related resources and services. Finally, to ensure ongoing improvement, an evaluation process for the effectiveness of the system, based on achievement of the learning outcomes and students’ feedback will be put in place, in the form of an independent quality assessment process, which also provides feeds back into the development cycle. Through the above steps the organization plans to provide quality education by making them online, the courses would cover organizational development programs like oTime Management oLeadership Skills Training oConflict Management Workforce Development Relating LMS ; Courses to AIMS as per John Dewey †¢AIMS always relate to results, the first and most important thing is whether the work assigned possesses intrinsic continuity †¢AIMS implies an orderly and ordered activity, one in which the order consists in the progressive completion of a process †¢AIMS means foresight in advance of the end or possible termination †¢AIMS as a foreseen end gives direction to the activity; it’s not an idle view for the spectator but influences steps taken to reach the end. How each prior event leads into its successor while the successor takes up what is furnished and utilizes it for some other stage, until we arrive at the end, which summarizes and finishes the process? †¢Foresight functions in 3 ways ?Involves careful observation of given conditions and means available to reach the end. ?Suggest the proper order or sequence in the use of means, facilitating economical selection and arrangement. ?Makes choice of alternatives possible