Operation Hope unethical partnership decision with Union Bank and Nix Essay

Operation Hope unethical partnership decision with Union Bank and Nix Check Cashing - Essay Example Union Bank of California has entered in to partnership with Operation Hope which is a non-profit making organization and also Nix Check Cashing to offer financial services to low-income households. Many residents have low incomes thus consider savings-oriented services less attractive. Bryant of Operation Hope is initially reluctant to join the Union/Nix ownership model that includes financial literacy and market opportunities for Union Bank. Surprisingly, Operation Hope becomes the first non-governmental organization to sell 40 percent of its Hope Center in Willowbrook to a financial institution. This partnership links a bank which provides high interest payday loans to Operation Hope that is supposed to safeguard the welfare of the community b y providing services to low income households. The banking officers are reluctant to offer short term loans. The partnership may expose customer privacy information since Union Bank may share customer confidential information with Nix and Ope ration Hope. Nix employees are inefficient and have to give a 10 day waiting period before processing the loans. According to Union Bank, the aim of the partnership is to create 6,000 new bank customers and provide 750,000 ATM transactions (Bradley 7). Though from the Union Bank should comply with 1977 community Reinvestment Act by meeting the credit needs of communities. Nix alliance has compromised the role of Operation Hope since it cannot play a public watchdog role while it is a partner to the partnership. The construction of the partnership is aimed at ensuring profitability and success of Union Bank and Nix Check Cashing. The partnership agreement between the three institutions is unethical. The partnership is geared at increasing the profitability of Union Bank and meeting regulatory requirements like Community Reinvestment Act which requires Union Bank to offer services to communities (Bradley 7). Virtue ethics According to virtue ethics, the current state of affairs is une thical since it is not guided by ethical virtues. The virtues of Operation Hope management require them to act in a virtuous manner and act as community watchdog. Operation Hope as a non-profit institution should not enter in to a partnership which seeks to exploit the local low income households by providing expensive financial services. Operation hope should have avoided a partnership that has the potential of exposing private customer information and contravening human dignity virtues. In order to safeguard community welfare, Operation Hope should display virtues such as integrity, compassion, wisdom and courage and reject any partnership that seeks to provide expensive loans to low income households. According to Aristotle, the virtue ethics will consist of the mean between the extremes of excess and deficiency which are vices but some actions have no extremes like murder since it is virtuously wrong (Bowie 87). According to Aristotle, pleasure will impede ethical choices. For i nstance, the management of Operation Hope has acted with fear in order to uphold the partnership instead of safeguarding the community welfare. Union Bank is also unethical in its decision to partner with Nix and Operation Hope since its main objective is to adhere to requirements of Community Reinvestment Act and increase market share and profitability and not to provide the cheap loans required by the low income households. Union Bank decision is unethical since it only wants to increase market share at the expense of the society welfare. The decision of Operation Hope to join the partnership has been motivated by the pleasure of being associated with Union Bank which is a reputable Wall Street institution and Nix which is well known for cashing services. The partnership is unethical since it only promotes profit interests of Union Bank shareholders and not common interests of the low income ho

Virtue and Truest Chivalry Essay Example for Free

Virtue and Truest Chivalry Essay Originally Latin, actually spelled â€Å"caballarius and pronounced â€Å"SHiv? lre†, is chivalry. Chivalry is the combination of qualities expected of an ideal knight. Such qualities include honor, courtesy, courage, justice, and willing to assist those in need. If one is chivalrous in character, then one is a gentleman and noble in his good deeds. He would in no manner hesitate to serve others and serve his God. This is evident as Honore de Balzac puts it: â€Å"the motto of chivalry is also the motto of wisdom; to serve all, but love only one. † Chivalry, besides its original usage as â€Å"calvary,† can truly only be delineated in only one way, which is to refer to a virtuous code of conduct. There isn’t any negative connotations to the word either, unless somebody called a fellow thane chivalrous in Old Anglo-Saxon times! Other than that, the only emotional association with the word is generally positive. This noble idea of conduct is constituted of several virtues in spite of the narrow usage of the word. So, how did chivalry come into existence? Journey to the medieval times and you will discover that chivalry was once an existential characteristic of every man sworn into nobility or born into it. These men were knights. Medieval knights battled horseback and practiced outstanding gallantry. Knights were always calvary in battle, and exhibited righteous morals. A group of knights was actually called â€Å"the chivalry† of the militia. They were excelled in sword craft nearly comparable to their high level of graciousness, and could ride a horse well-nigh to the speed of which they are willing to assist a damsel in distress. Chivalry came to be known as the demeanor of an ideal knight, rather than simply a group of knights. As Chaucer puts it in Canterbury Tales, an ideal knight loved chivalry, truth and honor, freedom and courtesy; a very gentle, perfect knight. † Whatever happened to chivalry? Certain writers may say chivalry is dead, or it might just have a bad case of the flu. As long as wrongs are still righted, chivalry will survive. Chivalry cannot and will never die out. It may become exponentially less evident everyday, but underlying all the rudeness and discourtesy, chivalry is there. Chivalry does indeed need to be implemented more and more into society. Every single man’s major desire should be to act magnanimously and reveal a generous and noble state of mind. If every man were to be genuinely chivalrous then hardly would there ever be any cheating, debt, adultery, stealing, or even bad attitudes. Each and every man would be true in their religion, honest, courteous, and would have a burning passion to do what is right. Think of that chivalry based utopian society. A world where people were more worried about humbling themselves rather than raising themselves up would be phenomenal. Modern chivalry should predominate like it did with Sir Lancelot around Queen Guinevere. Contemporary America could learn from John Bowring’s â€Å"Chivalry† poem which reads: â€Å"Now tell me what is chivalry? To battle in the foremost fight For anything—for wrong—for right, For some fair ladys scornful smile, For what is virtuous, what is vile, Come, tell me, is this chivalry? No! in the men for truth who pant, In wretchedness and woe and want, Who bear the worlds contemptuous hate, With patient soul, with heart elate. No! in the woman in whose home No peace is found, no comforts come, Yet bends in silence,—feeling still Tis Gods most kind, most holy will. This—this is truest chivalry! † Chivalry essentially is the essence of all that is good, virtuous, and holy, conglomerated into one admirably cultivated code of conduct to live by.

Ethics of Research Trials in Developing Countries

Ethics of Research Trials in Developing Countries Zoheb Rafique INTRODUCTION: Asia is the most diverse continent in the world in terms of culture, religion, population size, finance, education, health care, academic research, general population skills, and governmental drug regulations. Each Asian country has its own unique qualities when it comes to attracting industry sponsored clinical trials. Factors that influence selecting location of a study site for a sponsored trial are mainly population size, infrastructure, education levels, quality of health care, cost and drug regulatory platform. Some Asian countries such as Japan, Hong Kong and Singapore have among the longest life-expectancy, lowest infant mortality and highest per capita income worldwide, while others are in the lower end of such rankings. Several, notably China and India, are amid rapid economic development, as the Asian economy is more-or-less becoming the global axis, with the economies of US and Europe slowing. Asia has a population of 3.8 billion, at least ten times more than North Americ a or Europe. As the world’s most populous continent, Asia has by no means reached full capacity in contributing with subjects in testing new medical products in collaboration with the international pharmaceutical industry. This trend will certainly direct more sponsored clinical trials to Asia, but not necessarily benefit all Asian countries. Engaged in 18.1 % of all protocols globally Asia is involved in more sponsored trials than any other region. India, Korea and Taiwan standout as the most active locations for multi-national trials in Asia. When ranking is for cities Seoul is the most active Asia city, followed by Taipei, Hong Kong, Singapore and New Delhi. The globalization process of sponsored clinical trials has provided an opportunity for Asia to attract international companies to the region and also seemingly encourages development of local life-science industries (1). In this paper, I will discuss the responsibilities of researcher/funder when the research trial is conducted in developing countries and especially in our country Pakistan and I will also talk on ethical justifications of doing research trials in Pakistan and other poor and developing countries. DISCUSSION: Resource poor countries require a lot of attention from the medical research establishment in order to sustain the quest for treatments and remedies for diseases and other health-threatening conditions. However, the collaboration between rich countries and well-endowed agencies, on one-hand, and economically constrained research communities, on the other, requires a careful assessment of responsibilities and options for researchers and research subjects alike. Major players in international research also include big pharmaceutical companies who seek people living in developing countries as subjects. Safety and standard of care for human volunteers are also major issues. â€Å"I had not been exploring Big Pharma of third world ‘volunteers’ as cheap guinea pigs, observes writer John le Carre (2001). â€Å"Their role, though they may not ever know this, is to test drugs, not yet approved for testing in the US, which they themselves will never be able to afford even if the tests turn out reasonably safe† (le Carre, 2001). In the US, it costs on average $ 10,000 per patient to conduct a clinical trial, in Russia $ 3,000, and in the poorest parts of the world, much less. This is one of the strong reasons why clinical trials are now a Third World growth industry. In the end, the drugs under trial are for western markets. In its May 2000 edition, Center Watch, a newsletter for the burgeoning clinical trials business, published an exuberant article under the title Latin American Fever in which it said the continent ‘may offer a unique opportunity to reach much larger numbers of study subjects’. Eli Lilly tested 590 patients, in 1994, across Africa, the Middle East and Central and Eastern Europe. In 2001, the company expected to run tests in those regions on 7,309 patients. It is not only the human subjects who are at risk. In the rush to market, poorly constructed, weakly monitored trials are releasing untried and untested drugs for con sumption (le Carre, 2001). The Contemporary practice of biomedical research on a global scale has given rise to evolving forms of exploitation. Standards of justice and equality tend to be put in question in the face of research practices that often put heavy burdens on poor people and poor communities in poor countries. There is a need to remain vigilant in the prior review of these activities and the monitoring of their implementation in order to ensure that biomedical research is conducted in accordance with universally acceptable standards. One of the most important requirements for the conduct of research in developing countries is emphasized in the WHO-Council for International Organizations of Medical Sciences’ Guidelines for Biomedical Research Involving Human Subjects: to guarantee that those communities where these new drugs have been tested will be given affordable access to the newly developed and approved drugs. Otherwise, one might rightly argue that people in d eveloping countries have yet again been exploited by Western researchers without benefiting from the positive results their risk-taking has yielded (Del Rio, Kamarulzaman, and Schuklenk, n.d.). Ruth Macklin observes that it is not just individuals who can lose out when big drug companies carry out their tests. When industrialized countries do research in a developing country, the developing country can’t afford the products of that research. The researcher’s pullout and the successful products then become available in the Western industrialized countries and the population in the countries where the research was done get nothing. So that’s truly a question of justice, and we’re beginning to see a movement to rectify that injustice (2000). The wide disparities in resources that are available for biomedical research in developed and developing countries give rise to ethically relevant issues of research prioritization and collaboration. The international re search community has to accelerate the shift to an environment where researchers from developing countries are recognized as full and equal partners in biomedical studies; where the technologies of developed and developing countries are integrated and made widely available; and where the benefits of biomedical research for participant communities can be ensured (2). In resource-poor countries like Pakistan and majority of developing countries, the two primary means of protecting participants-IRB review and Informed Consent may be inadequate. IRBs in developing countries may lack training, experience, and resources. IRBs in the United States are unlikely to be familiar with conditions in the host country. Informed Consent may be problematic in a country where people are poorly educated and lack health literacy, and where physicians in clinical practice usually do not tell patients their diagnosis, admit uncertainty, or obtain consent. Participants may not accept Western models of dis ease. Furthermore, participants might hear rumors and other misinformation about a research study. In several highly publicized cases, researchers from developed countries have been harshly criticized for allegedly conducting inappropriately risk studies in resource poor counties without adequate consent. The other problem is health priority and it would be an imprudent use of limited health care resources in a developing country to conduct human-participants research that does not address a health or public health priority in the host country. Because of scarce resources and logistical constraints, medical interventions that are standard in developed countries may not be available or feasible in resource poor countries where the trial is conducted. This creates an ethical tension between providing a benefit to research participants and obtaining generalizable scientific knowledge. According to the ethical obligation to minimize harm to participants, researchers should provide inter ventions that are known to be effective and feasible to prevent or treat the condition addressed in the clinical trial. Because participants in a research study help researchers, sponsors, and society at large, they should receive some benefit in return as a matter of reciprocity. Advocates contend that researchers and sponsors must avoid taking unfair advantage of participants and their communities by providing those who bear the risks of research appropriate benefits, in addition to the long-term benefit of generalizable knowledge. Researchers and Sponsors need to consider whether the study intervention will be available in the host country if it is shown to be effective and safe. Some ethics expert point out that providing reasonable access to study interventions after a trial may be an inadequate reciprocation for participation in research. First, it is too limited and weak an obligation. If the study is something other than a pivotal clinical trial (for example, an epidemiologi cal study), no additional benefits will be required. Even if the study is a clinical trial, it might be a negative study. Second, other benefits might be more useful to participants or their communities than the trial drug. For example, they might benefit more from better primary care or better education for host country health care workers. Third, the appropriate target group for benefits may be all persons in the community where the study is carried out, not just trial participants. Providing benefits only to trial participants will widen health disparities in the resource-poor host country and therefore raise concerns about causing injustice. Thus, providing benefits to the host country should be done in a way that ameliorates rather than worsens health disparities. For these reasons, some writers argue that researchers and sponsors from the developed world should provide fair benefits to the research participants and their communities in reciprocity for what they contribute to the research. Researchers could provide benefits to research participants in a number of ways, such as by providing health education or some basic health services; training local health care workers, researchers, and IRBs; donating equipment at the end of the study; and giving local investigators a key in analyzing data and writing papers. Such contributions ensure that the community where the research is carried out will receive benefits in reciprocity for participating in the research. By building infrastructure, researchers can help provide sustainable improvements that will help to narrow health disparities between rich and poor nations (3). Pakistan is also among the poor and one of developing country and the health care conditions here are same as any South Asian or African country. We will apply the same ethical and moral rules when we talk about research here in Pakistan. Ethical requirements for clinical research do not end when individuals either sign the consent form or are enrolled in research or refuse enrollment. Individuals must continue to be treated with respect from the time they are approached even if they refuse enrollment throughout their participation and even after their participation ends. Respecting potential and enrolled subjects entails at least 5 different activities. First, since substantial information will be collected about enrolled subjects, their privacy must be respected by managing the information in accordance with confidentiali ty rules. Second, respect includes permitting subjects to change their mind, to decide that the research does not match their interests, and to withdraw without penalty. Third, in the course of clinical research new information about the effect of the intervention may be gained. Respect requires that enrolled subjects be provided with this new information. Fourth, the welfare of subjects should be carefully monitored throughout their research participation. If subjects experience adverse reactions, untoward events, or changes in clinical status, they should be provided with appropriate treatment and, when necessary, removed from the study. Finally, to recognize subject’s contribution to clinical research, there should be some mechanism to inform them of what was learned from the research (4). CONCLUSION: The basic disclosure requirement for satisfying the informed consent provision in U.S. research regulations focus on information needed by a potential participant to decide whether or not to participate in a study. Of the eight basic disclosure requirements, one focuses on potential benefits: a description of any benefits to the subject or to others which may reasonably be expected from the research. Traditionally, such a disclosure has been required to ensure that potential participants understand whether there is any possibility that the intervention itself might benefit them while they are enrolled in the study. There is, however, no specific mention of any post-trial benefits. If any case, those who may participate in studies should be informed of the potential benefits, if any, that they might receive by doing so. Because this information is relevant to participants’ decisions to participate in the research, ethics review committees should require investigators to make th ese disclosures (5). In the end I will conclude by saying that research participants should know each and every thing regarding their participation in the research trial or rejecting it, and it is their right to know all risks and benefits while participating in the research trials and this should be applicable to all countries around the world including all developing countries and also our country Pakistan. REFERENCES: 1. Johan PE Karlberg. Development of Sponsored Clinical Trials in Asia. Clinical Trial Magnifier. 2008; Vol. 1:5: 77-100. 2. Leonardo D. de Castro Et Al. Bioethics in the Asia-Pacific Region: Issues and Concerns. 2003; 1-108. 3. LO B. Clinical Research in Resource-Poor Countries. Ethical issues in Clinical Research: A practical Guide. 2008; Ch.22:194-210. 4. Ezekiel J. Emanuel Et Al. What Makes Clinical Research Ethical? JAMA. 2000; 283(20): 2701-2711. 5. Ch 3; Voluntary Informed Consent. National Bioethics Advisory Commission. 35-53.

High School Athletes Should Not Turn Pro Essay -- Professional Sports

High School Athletes Should Not Turn Pro Lebron James and Freddy Adu are both young athletes and with millions in their pockets with a countless number of endorsement contracts. Whether it is high school athletes skipping college and discontinuing the development of their education for millions of dollars, or teenagers signing contracts with businesses for massive amounts of money, youth sports programs are changing rapidly. However, American high school athletes are not financially, physically, or mentally prepared to tackle and endure the pressures of professional sports. Society today allows fourteen to eighteen-year-old athletes to make millions of dollars and eventually become stars. From Lebron James, signing with Nike for ninety million dollars before even stepping on the court, to Freddy Adu, signing with Major League Soccer to be the youngest professional to ever sign a contract in United States history, teenagers of today are changing. Freddy Adu is the youngest player on a major league team since Fred Chapman was fourteen years old and played baseball for Philadelphia in 1887. Adu, born in Ghana, signed with the MLS to play for D.C. United in 2003. He and his family moved to Potomac, Maryland in 1997 and he eventually became a United States citizen in 2002. He signed with Nike for one million dollars in 2000, becoming the youngest professional to sign an endorsement deal with Nike. Greg Couch, a writer for the Sun Times states, ?Are we ready for this? Because if Freddy Adu makes it big, then the battle to save little things like fun and imagi nation in youth sports is gone.? He is absolutely right. What happened to the main reason to play sports- have fun? These young children won?t understand fun after being demanded, day in and day out, from the most rigorous coaches to perform to a level they have not been exposed to yet. They haven?t been exposed to that level because they skipped the most important part of their life and career, and that is college. In rare cases, there?s one athlete that comes along and is very special. Sappenfield of The Christian Science Monitor says, ?In some instances, they are truly unique athletes. In others, they are simply the products of a new and hyper-competitive youth-sports system, lured to big-time athletics by bad advice and the prospect of outlandish wealth and rock star glory? (Sappenfield 1). Ki... ...n education and should get one before stepping out into the real world and being thrown into an atmosphere of fame, glory, and money. An atmosphere a teenager is not ready for. Works Cited Bae, Isamu. High School Athletes Should Go To College, Not The Pro Level. 1 June 2004. Silver Chips Online. 22 April 2005 . Carter, A. CinQue. Athletes Should Stay In School Before Relying On False Dreams. 29 Oct 1998. Daily Bruin. 22 April 2005 . Couch, Greg. And The No. 1 Reason Not To Turn Pro At 14?. 20 Nov. 2003. Chicago Sun-Times. 10 Apr. 2005 . Keller, Mandy. Bylaw Article 12: Amateurism. July 2003. The National Collegiate Athletic Association. 9 Apr. 2005 . Ryan, Joan. Little Girls in Pretty Boxes. New York. Warner Books. 1 Aug 2000. Sappenfield, Mark. Young, Gifted, and Rich- Behind the Sudden Rise of Teen Sports Superstars. 1 Dec. 2003. The Christian Science Monitor. 9 Apr. 2005 . Satterfield, Kathryn R. Ready For The Big League. Vol. 9 No. 8. 7 Nov. 2003. Time For Kids. 9 Apr. 2005 . Going Pro Early. A Game-Official Website of Smart Athletics. 9 Apr. 2005 . Head to Head. 9 Apr. 2005 . Your Take: Freddy Adu. 20 Nov. 2003. ESPN Soccernet. 10 Apr. 2005 . High School Athletes Should Not Turn Pro Essay -- Professional Sports High School Athletes Should Not Turn Pro Lebron James and Freddy Adu are both young athletes and with millions in their pockets with a countless number of endorsement contracts. Whether it is high school athletes skipping college and discontinuing the development of their education for millions of dollars, or teenagers signing contracts with businesses for massive amounts of money, youth sports programs are changing rapidly. However, American high school athletes are not financially, physically, or mentally prepared to tackle and endure the pressures of professional sports. Society today allows fourteen to eighteen-year-old athletes to make millions of dollars and eventually become stars. From Lebron James, signing with Nike for ninety million dollars before even stepping on the court, to Freddy Adu, signing with Major League Soccer to be the youngest professional to ever sign a contract in United States history, teenagers of today are changing. Freddy Adu is the youngest player on a major league team since Fred Chapman was fourteen years old and played baseball for Philadelphia in 1887. Adu, born in Ghana, signed with the MLS to play for D.C. United in 2003. He and his family moved to Potomac, Maryland in 1997 and he eventually became a United States citizen in 2002. He signed with Nike for one million dollars in 2000, becoming the youngest professional to sign an endorsement deal with Nike. Greg Couch, a writer for the Sun Times states, ?Are we ready for this? Because if Freddy Adu makes it big, then the battle to save little things like fun and imagi nation in youth sports is gone.? He is absolutely right. What happened to the main reason to play sports- have fun? These young children won?t understand fun after being demanded, day in and day out, from the most rigorous coaches to perform to a level they have not been exposed to yet. They haven?t been exposed to that level because they skipped the most important part of their life and career, and that is college. In rare cases, there?s one athlete that comes along and is very special. Sappenfield of The Christian Science Monitor says, ?In some instances, they are truly unique athletes. In others, they are simply the products of a new and hyper-competitive youth-sports system, lured to big-time athletics by bad advice and the prospect of outlandish wealth and rock star glory? (Sappenfield 1). Ki... ...n education and should get one before stepping out into the real world and being thrown into an atmosphere of fame, glory, and money. An atmosphere a teenager is not ready for. Works Cited Bae, Isamu. High School Athletes Should Go To College, Not The Pro Level. 1 June 2004. Silver Chips Online. 22 April 2005 . Carter, A. CinQue. Athletes Should Stay In School Before Relying On False Dreams. 29 Oct 1998. Daily Bruin. 22 April 2005 . Couch, Greg. And The No. 1 Reason Not To Turn Pro At 14?. 20 Nov. 2003. Chicago Sun-Times. 10 Apr. 2005 . Keller, Mandy. Bylaw Article 12: Amateurism. July 2003. The National Collegiate Athletic Association. 9 Apr. 2005 . Ryan, Joan. Little Girls in Pretty Boxes. New York. Warner Books. 1 Aug 2000. Sappenfield, Mark. Young, Gifted, and Rich- Behind the Sudden Rise of Teen Sports Superstars. 1 Dec. 2003. The Christian Science Monitor. 9 Apr. 2005 . Satterfield, Kathryn R. Ready For The Big League. Vol. 9 No. 8. 7 Nov. 2003. Time For Kids. 9 Apr. 2005 . Going Pro Early. A Game-Official Website of Smart Athletics. 9 Apr. 2005 . Head to Head. 9 Apr. 2005 . Your Take: Freddy Adu. 20 Nov. 2003. ESPN Soccernet. 10 Apr. 2005 .

Coolest thing i ever did Essay

The coolest thing I’ve ever done or should I say the dumbest thing I ever done was run my mother’s car into our house. It was the end of summer starting my freshman year at Destrehan High School and I wanted to do something that would have made me seem cool to the kids around the neighborhood so I decided to steal my mother’s car. My mom owned a 2002 Nissan Pathfinder that she didn’t really use, usually just my step dad would use it to go to work and my mom used the truck so I didn’t see a problem with them riding together one morning so I can have the car for myself for the day. One morning during the beginning of the week my step dad had set the key down on the table and it was just a key so I could have easily took it and have everyone else think he misplaced it. For two days straight my parents was looking for the key and I acted as though I had no idea of what they was looking for but he just used the spare key. The third day I woke up and I looked out my window and I saw the car outside knowing I still had the stolen key under my mattress. I was a little too anxious because I knew I had the car to myself and I couldn’t get caught for taking it. It was around eleven o’clock when I got up and went get in the car. A free adventure I took and I thought I was a grown driver driving on the road with other drivers but I wasn’t it was very illegal but I didn’t care†¦ I felt cool. An hour went by and I traveled all over Destrehan I felt like my cool patch should have been given to me that day because it took a lot out of me to do something that crazy. I arrived back to my place without being stopped by the police or pulling up to the truck in the driveway, I felt so bad even hammer couldn’t touch me. My step dad always parked the car really close to the end of the driveway so that was my goal to do, I pulled in, parked the car, and got out. Then I realized I wasn’t close enough and they would have notice something funny. So I decided to get back in the car and park it correctly. Backing up I didn’t notice that I was that far away so I pushed on the gas because our driveway was more of a hill so I needed a little help getting up there. When I pushed the gas I went to fast and had hit the trash can that was in front the house, I thought it was funny and didn’t really worry about it because I could have switched it out with someone else’s. I got out and I noticed I parked the car correctly so that was a good thing but when I walked towards the trash can I heard some noise behind it and I saw that the front window was shattered, that’s when I realized things just got real. I started to panic and come up with lies to explain the window since the car didn’t look damage. My friend Shawn came outside and stared making fun of me because he knew I was going to get in trouble. As he walked in my house to go get something to drink he noticed something that I should have took a look at. His exact words were â€Å" umm Laci I think you should come take a look at this† I know I was inside but I couldn’t understand why I could see outside, that’s when I knew I was dead but I still felt cool for some reason. Explaining this to my mom wasn’t easy at all so I stayed a few feet away from her. When my step dad arrived home he did a little bit more investigation and saw that not only did I brake the trash can, the window, and ran the car through the wall but I also smashed the hose pipe that was connected to the house inside the bricks so there was no water in the house at all. It took them a long time to forgive and trust me again and it also took a lot of butt whippings to relive all that anger out of my mom. Out of all that happened in that week in a weird way I still felt pretty cool for that since it was a fun story to tell to the class. So I am glad to say that was the dumbest, scariest, and coolest thing I ever done.

Commercial law case analyse Essay

Commercial Law Term Paper (Case Analysis) Pro-Gordon C. Johnson June 18, 2013 9th Edition Chapter 5-Case 5 Summary: Marie-Claude operated a bowling alley in a commercial area that was adjacent to a residential area. Many small children used the parking lot near the bowling alley as a playground, and Marie-Claude was constantly tell these children leave the parking area maybe they will get injured. However, one six years old boy climb onto the flat roof of the bowling alley and while he is running, tripped and fell to the ground. But Marie-Claude continued to order the child off the roof by several times when he was on the roof. Analysis: this situation can apply on Trespassers of Occupier Liability and Negligence of the concept of Foreseeability through the Supreme Court of Canada. For plaintiff: the occupier of the building warns the child of any dangers that exist on the property. Meanwhile, according to the concept of Foreseeability part, a very small child of tender years would not be held liable in tort, but children in their early teens, depending upon the extent of their maturity and level of understanding, nay very well is held responsible for their actions. This case belongs to unintentional acts of a person caused injury to others. For defendant: Owners of buildings, construction sites or those who construct dangerous structures on their premises in neighborhoods where small children live have a special duty to protect the children from harm or injury. On the other hands, the outcome for this situation maybe is Compensatory damages or Nominal damages. For compensatory: the loss suffered by a person in a negligence case in the loss of or damage to property. For nominal: when a person trespasses on the land of another without inflicting physical damage to the property. Chapter 7-Case 3 Summary: Armstrong Aggregates Co. wrote a letter to Bishop on May 2nd offering to sell him 200 tons of scrap mica at $180 per ton. Bishop received the letter on May 3rd. A few weeks later, Bishop checked the price of mica which is $185. On May 22nd, Bishop wrote to this company that is accepting this offer. But this company did not receive this letter until May 30th. And Armstrong refused to sell mica to Bishop at $187 instead of $180 because the price was increasing. Analysis: This situation should belong to Offer and Acceptance Section. An offer is not valid until it is received by the offered, and the offeror is not limited by the offer until such time as it is accepted according to Communication of an Offer. So in this case, Bishop received the letter on May 3rd, before May 3rd, it is not bounded. On may 22nd, Bishop wrote to this company and accepted this offer. According to Acceptance of an Offer, the acceptance must take the form if certain words or acts in accordance with the offer that will indicate to the offeror that the offeree has accepted the offer. In addition, the acceptance of the offer takes place when the letter of acceptance, properly addressed and the postage paid, is placed in the postbox or post office. So for Bishop (defendant), it obeys the rules of an offer and acceptance. For Armstrong Aggregates Company (plaintiff), they cannot change their offer by increasing the offer because Bishop had already accepted the offer and sent to this company on May 22nd. Meanwhile, the company did not communicate with Bishop about change the price. Therefore, this action is not valid and this company should still accept this offer at $180. Chapter 10-Case 2 Summary: Habitation Apartments Ltd. borrowed $500,000 from their Good Times bank and secured the loan by way of a three-year mortgage on its apartment building. And the president of the corporation personally guaranteed repayment of the loan. Several years later, as a result of dispute between shareholders and a new president and Board of Directors were selected by the shareholders. As part of organization, they rearrange its mortgage loan with  the bank. The bank agreed to extend the loan for a further three-year term but at a higher interest rate. A year later, as a result of tenant problems and a high vacancy rate, the corporation was unable to meet its mortgage payments and the mortgage went into default. Analysis: This case should address in the Guarantee of Assumed Liability section. The guarantee always involves at least three parties: a principal debtor, a creditor, and the guarantor. The guarantor’s role in a guarantee agreement is to provide a promise of payment in the form of a contingent liability. In this case, Habitation Apartment Ltd and the bank are only two parties and they do not have formal writing document. Because of the unique relationship between the parties, the guarantee must be in writing to be enforceable. For plaintiff: the Habitation Apartment Ltd should mortgage on its apartment building, because the president of the corporation guaranteed repayment of the loan and they should obey their contract. For defendant: before the contract come into effect, the leader of the bank should consider these problems, for example, the interest rate will be go up. They should tell the corporation this situation will happen and a condition that must be satisfied. In addition, they should as their original contract to conduct their liabilities no matter they rearrange the financing or increase their interest rate. The corporation of the apartment should return repayment as the original interest rate. Chapter 13-Case 4 Summary: Hansen admired a sports car that Sports Motor Sales Ltd. wished to sell. Hansen informed the company salesman that he would buy the automobile if he could obtain a loan from the bank to cover part of the 17000 asking price. The salesman agreed to hold the car until Hansen could check with his bank. And Hansen discussed a loan with his bank manager and he said he would be prepared to make a 5000 loan through approval from the regional office. As a result, Hansen then entered into a written agreement with Sports Motor Sales Ltd. Then both parties signed the agreement. A few days later, the bank manager said he had problem with the loan approval. As a result, he could lend 4000 instead of 5000. Analysis: According to Condition Precedent, when a condition precedent is agreed upon, the agreement is prepared and signed; only the performance is postponed pending the fulfillment of the condition. Once fulfilled, performance is necessary to affect discharge. If the condition is not met, it then has the effect of discharging both parties from performance. Because the loan approval has some problems, both parties did not fulfill the condition of the approval, so the Moto Sales Ltd. should charge for this mistakes. At the same time, a Material Alteration of the terms of existing agreement has the effect of discharging the agreement and replacing it with a new one containing the material alternation. The alternation of the terms of the existing agreement must be of a significant nature before the contract will be discharged by the change. If the loan approval has some problems, so the bank can agree Hansen to discharge it and replace it with a new agreement. So the bank does not need to give himself 1000 short. In addition, according to Novation, the parties may also discharge an existing agreement by mutually agreeing to a change in the terms of the agreement or to a change in the parties to the agreement, so at least one party should agree to substitute or replace it.