Evolutionary Psychology - Evolution Definition

Evolutionary psychology is a relatively new scientific discipline that looks at how human nature has evolved over time as a series of built up psychological adaptations. Many evolutionary biologists and other scientists are still reluctant to recognize evolutionary psychology as a valid science. Much like Charles Darwins ideas about natural selection, evolutionary psychology focuses on how favorable adaptations of human nature are selected for over less favorable adaptations. In the scope of psychology, these adaptations could be in the form of emotions or problem-solving skills. Evolutionary psychology is related to both macroevolution in the sense that it looks at how the human species, especially the brain, has changed over time, and it is also rooted in the ideas attributed to microevolution. These microevolutionary topics include changes at the gene level of DNA. Attempting to link the discipline of psychology to the theory of evolution via biological evolution is the aim of evolutionary psychology. In particular, evolutionary psychologists study how the human brain has evolved. The different regions of the brain control different parts of human nature and the physiology of the body. Evolutionary psychologists believe that the brain evolved in response to solving very specific problems. The Six Core Principles of Evolutionary Psychology The discipline of Evolutionary Psychology was founded on six core principles that combine a traditional understanding of psychology along with evolutionary biology ideas of how the brain functions. These principles are as follows:​​ The human brains purpose is to process information, and in doing so, it produces responses to both external and internal stimuli.The human brain adapted and has undergone both natural and sexual selection.The parts of the human brain are specialized to solve problems that occurred over evolutionary time.Modern humans have brains that evolved after problems recurred time and time again over long periods of time.Most of the human brains functions are done unconsciously. Even problems that seem easy to solve take very intricate neural responses at an unconscious level.Many very specialized mechanisms make up the whole of human psychology. All of these mechanisms together create human nature. Areas of Evolutionary Psychology Research The theory of evolution lends itself to several areas where psychological adaptations must occur in order for species to develop. The first is basic survival skills like consciousness, responding to stimuli, learning, and motivation. Emotions and personality also fall into this category, although their evolution is much more complex than basic instinctual survival skills. The use of language is also linked as a survival skill on the evolutionary scale within psychology. Another major area of evolutionary psychology research is the propagation of the species or mating. Based on observations of other species in their natural environments, the evolutionary psychology of human mating tends to lean toward the idea that females are more selective in their partners than males. Since males are instinctively wired spread their seed to any available female, the male human brain has evolved to be less selective than that of the female. The last major area of evolutionary psychology research centers on human interaction with other humans. This large research area includes research into parenting, interactions within families and relations, interactions with people that are not related and the combination of similar ideas to establish a culture. Emotions and language greatly influence these interactions, as does geography. Interactions occur more frequently among people living in the same area, which eventually leads to the creation of a specific culture that evolves based on immigration and emigration in the area.

Equal Rights - Argument Essay examples - 1024 Words

Equal Rights Abortion is not a decision to be taken lightly. It is not a decision that the mother should make on her on either. Abortion should be a mutual decision between both parents. It should only be the mother’s choice if the father is not willing to care for the baby. It takes both a man and woman to create a child; therefor it should take both a man and a woman to make the decision to abort their child. After all a child is no more the mother’s than it is the father’s. When a woman makes the decision to keep the child, she expects financial support and help raising the child from the child’s father; therefore, she should ask for the father’s opinion when it comes to abortion, because the father could want to raise the baby on†¦show more content†¦Women may argue that it is their body and their decision, but if they were more careful with their body then they would not be in this position. The Father should have a say in abortion because it is hi s child too. Any decent parent who loves their children will fight for them. So a father should be able to fight for the right that his child exists. A mother can end a pregnancy on her own, or have a baby on her own. A father can do neither. Since they are both equal in creating this baby, why can’t they both have the same right to terminate the pregnancy? A father cannot single handedly decide to end a pregnancy, so the mother shouldn’t be able to either. The father is simply fighting for his right to raise a son or daughter. If a mother makes a decision to have a baby on her own, and the father is capable of providing, he is required to pay child support. If a father makes the decision to keep a baby and raise it own his own, than after the birth the mother, if capable, should have to pay child support as well. The father should however have to pay for all the mother’s medical bills and all of the things needed throughout the pregnancy such as vitamins, mater nity clothes, and doctor visits. I think this is fair because the father does not have to go through what a mother does during pregnancy. I believe that if and only if the father is keeping the mother from aborting. Parents are equal and they should haveShow MoreRelatedThe Amendment And The Rights Amendment1341 Words   |  6 PagesPossibly the most conversational amendment to every make it’s way through the Senate and the House was the Equal Rights Amendment in 1972. The Equal Rights Amendment was, â€Å"introduced through the twenties, thirties, forties, fifties, and sixties without success† (Schneir, 369). Various organizations such as the National Woman’s Party (those who proposed it), National Organization for Women, the Women’s Department of the United Auto Workers, and many other feminists worked most if not all of theirRead MoreThe National Organization for Women and the Struggle for the Equal Rights Ammendment1153 Words   |  5 Pagesstruggl e for the Equal Rights Amendment. This topic will be a great way to learn about the background of how women fought for their rights, and how they gained them. This will be a great way to find out how the gender women established their equal rights. Womens rights are really important in todays society, so this will be a great way to learn a little more about how women came upon equal rights. Womens rights didnt just appear one day, they had to fight for what they thought was right. The firstRead MoreQuestions On The Prison Industrial Complex1510 Words   |  7 Pagesare more blacks in prison today than there were enslaved in 1850. This is what she refers to as â€Å"The New Jim Crow.† In her argument, she states: â€Å"In this era of colorblindness, it was not socially permissible to use race as a tool for disfranchisement, marginalization and discrimination† (Module 9/ Page 6). 2. Summarize the rise and fall of the movement to pass the Equal Rights Amendment. Explain the issues and concerns of those who supported and opposed the amendment. What do you think were the concernsRead MoreWomen s Equal Rights Amendment1433 Words   |  6 PagesCampaigning for the Equal Rights Amendment in the early twentieth century, women found it particularly difficult to have their efforts opposed by other women. One of the hovering questions that went along with the proposal of the amendment was whether those supporting equality for women, advocating the equality of opportunity, would also support the enablement of women to be freely different from men without consequence. There were passionate feelings on both sides of the arguments and this debate broughtRead MoreProstitution And The Act Of Prostitution1401 Words   |  6 Pagesthere are plenty of arguments for prostitution and the act of prostitution becoming legal. Coinciding with popular belief, there are more argument s against the act of prostitution being legalized. While some consider the act of prostitution to be an immoral act others will consider it a victimless crime. Most people consider it to be immoral and use arguments such as it cause crimes, spreads social diseases and AIDS and it is extramarital and commercialized. The opposing argument, which is for theRead MorePros and Cons of the Equal Rights Amendment Essay1285 Words   |  6 PagesPros and Cons of the Equal Rights Amendment The Equal Rights Amendment began its earliest discussions in 1920. These discussions took place immediately after two-thirds of the states approved womens suffrage. The nineteenth century was intertwined with several feminist movements such as abortion, temperance, birth control and equality. Many lobbyists and political education groups formed in these times. One such organization is the Eagle Forum, who claims to lead the pro-family movement. OnRead MoreSpeech On Sojourner Truth1191 Words   |  5 PagesWhile attending the Womens Rights Convention in Ohio in 1851, According to Frances Gage, who is the president of the Convention, Sojourner Truth encountered several male ministers who arrived and began stating their arguments for why women should not have the same rights as men. Among their reasons were the facts that women were weak, men were intellectually superior to women, Jesus was a man, and our first mother sinned. (source) As a result of this ignorant onslaught of sexist j ustificationsRead MoreThe Equal Pay Act Is An Anti Discrimination Policy1284 Words   |  6 PagesThe Equal Pay Act is an anti-discrimination policy, which was signed into law on June 10, 1963. The purpose of this policy was to stop gender based pay inequality. During World War Two, more women started to join the paid workforce, because a large amount of the men were away at war. As more and more women entered the work force, the pay differences began to rise. Women would only make fifty-nine percent of what men would make. This social issue brought the Equal Pay Act into law, it was to ensureRead MoreHow Did Women Reach Their Goals Of The Time?1453 Words   |  6 Pagesresponse to the growing radicalism of the time, so I knew I wanted to apply the prompt to that somehow. I think that the best way to show what strategies worked is to compare both sides opposing efforts, because to understand each argument, you must understand both arguments. I think that the tension in the world of women kickstarted both the feminist revolution and its counter-movement of â€Å"dependent wives† and their authority to protect and sustain the domestic sphere. Part 2 â€Å"I’d like toRead MoreWomen in Combat1883 Words   |  8 Pagesreasons. Accountability stating that women are ‘not good enough’ and care because they are ‘too good.’ Allowing women to serve in combat roles on the basis of equal qualifications is the belief behind the ethic of justice (Peach 1). Lucinda Joy Peach in Women at War-The Ethics of Women in Combat [Part 2 of 7] states that the arguments behind the ethic of accountability are that women would create a lower level of effectiveness in combat as well as undermine the male bonding process. It is also

Legal Writing and Research Communications Law

Question: 1. Hamlet Bank (Hamlet) is proposing to enter into a 5-year bilateral $500 million loan agreement with Lear Ltd (Lear) as Borrower. The loan agreement will be governed by English law and will be entered into on standard London Loan Markets Association (LMA) terms.The terms of the loan agreement include a two-year availability period (the Availability Period) permitting Lear to draw down the loan within a period of two years from the date of the loan agreement.Hamlet is concerned that circumstances may arise during the Availability Period which may make the loan much less attractive from its perspective and it seeks your advice on the terms typically included in such a loan agreement to protect the lender in the event it does not wish to satisfy a drawdown request delivered by Lear during the Availability Period. Advise Hamlet.In providing your advice to Hamlet you should consider the terms typically included in a loan agreement entered into on standard London Loan Markets Association terms. You should also advise Hamlet of the potential liabilities in the event that it fails to comply with a compliant drawdown request. 2. White Rose Bank (White Rose) is a syndicate lender in a $750 million loan (the Syndicated Loan) made available to Yorkie Ltd (Yorkie), a company incorporated in England. The Syndicated Loan was arranged by Red Rose Bank (Red Rose). Red Rose is Yorkies house bank and has made numerous loans to Yorkie over recent years. The Syndicated Loan was made available to Yorkie to finance its acquisition of Lancopia Inc (Lancopia), a company incorporated in Ruritania. That acquisition was completed shortly after execution of the Syndicated Loan. Prior to execution of the Syndicated Loan agreement, Red Rose was made aware of concerns regarding the audited financial statements of Lancopia, including a possible failure to identify material contingent liabilities in those statements. Red Rose did not pass that information to White Rose nor did it include it in the information memorandum relating to the syndicated loan.It now transpires that the quantum of the undisclosed contingent liabilities is likely to lead to the insolvency of Yorkie. Answer: Introduction The loan market of UK are controlled and regulated by the provisions provided by the London Loan Market Association. As per the loan market of UK, the borrowers are required to pay base rate of 4% on any mortgage and an interest rate of 6% on any mortgage. The assignments here highlight the facts of the two given cases considering the diverse situations, which the lenders may face within the UK loan market. The first assignment will critically analyze the situation within the term loan market where the lender may restrain from providing draw down facility to the borrower. The second part of the assignment exclusively focuses on the syndicate loan market. In this part the legal analysis of the major terms of the syndicate loan will be assessed and the final assessment will show the claiming aooprtunity in case of breach of information by the arranger in the syndicate loan. Assignment 1 Concepts and terms Common terms in loan agreement London Loan market Association that was formed in 1996 was developed in order to assist the secondary loan market in Europe and provide the necessary regulations for the loan agreements between the different banks and financial institutions. As per the terms of the London Loan market association, the following are the terms that should be present in the loan agreement. Contact addresses of the contracting parties (Lender and the borrower) Definitions and interpretation provisions Purpose of the loan Repayment provisions of the loan Prepayment and cancellation provisions of the loan Interest structure and interest payment periods Payment provisions Loan and interest calculations along with formulas Provisions on default of repayment of the loan The loan market provides the provisions for three types of loan majorly the bilateral loan, term loan and syndicate loan. The bilateral loan is the type of loan between an individual and a lender and the syndicate loan is the loan between an individual and multiple lenders. On the contrary, the term loan is the type of loan that has a specific amount and specific repayment schedule mentioned within the loan provisions. Following are the major common terms within the loan agreement LIBOR:The London Interbank Offered Rate (LIBOR) is a daily reference rate based on the interest rates at which banks can borrow unsecured funds from other banks. It is generally projected for the purposes of a loan agreement with reference to a screen rate (usually the British Bankers' Association Interest Settlement Rate for the relevant currency and period), or the Base Reference Bank Rate, which is the average rate at which the bank can borrow funds in the London Interbank Market. Thus, the LIBOR determines the interest rates within the loan market. Draw down Date: This is the specific proposed date on which the borrower wishes to avail the draw down facility. The draw down facilities are generally provided after the same has been mentioned within a draw down notice. Thus in the draw down notice the borrower will have to mention the time period during which the facility is to be availed. However, the legal provisions states that this time period should be within the availability period of the loan agreement. Draw down facility is not available after the availability period. Similarly, the borrower is nt required to pay any extra commitment fees after the availability period is over. Debt service requirements: This term is included within the loan agreement since the draw down facility is not provided for all types of services. This term specifies that the lender may agree to provide the draw down facility of the borrower is able to confirm that the advances are taken for debt services. A debt service in this respect constitutes of the financing costs of the projects. In this case, the lender may also limit the draw down facility on the grounds if the borrower is not able to produce a valid DSR proof. Availability period As per the London loan market Association, availability period in a loan agreement is the period during which the borrower may draw down a loan. During this period, the lenders are obliged to provide advance loans. During this period, the borrower is also indebted to pay a commitment fee to the lender. As per the London Loan market Association, commitment fee is also known as the commitment commission. The payment of this fee is calculated on the terms of the loan amount. The commitment fee thus paid by the borrower acts as a source of mortgage during the availability period on the grounds of which the borrower may avail the draw down option and request the lender for further advances. Draw down facility Draw down facility within a flexible loan agreement enables the borrower to take further advances in form of loans in the middle of the existing loan with very low legal formality. The draw down facility is generally given within the availability period and the borrower is permitted to draw the advances against any suitable mortgage that has been kept as a part of the loan terms. The draw down facility is given out of the personal mortgage at any time during the commitment period provided the borrower does not increase the amount of the loan over the original mortgage amount. This is an option given by the banks to build a self-build mortgage facility. The facility thus helps the borrowers to get access to financial assistance during the terms of the project and this finance helps the borrower in completion of the initial stages within a project. As per Clause 4.1.5, the following terms are necessary for the systematic and legal processing of the drawdown loan: The proposed draw down date The purpose of the advance borrowing which should be for facility purpose The amounts of the drawdown advances which should be a minimum of 50,000 The provision however also states that the borrower is not liable to make a request for more than one advance in a calendar month falling within the availability period. Clause 4.1.1 states that the lenders are not obliged to make any advance available unless they receive the Draw down notice including all the three above stated terms. Further, Clause 4.1.6 states that a drawdown notice is irrecoverable and no draw down shall be made if the total amount of proposed advances exceeds the total commitment fees paid by the borrower to the lender. Analysis of the case The case here states that Hamlet bank who is the lender enters into a bilateral loan agreement with Lear Ltd who is the borrower with a two-year availability period. The 2 year availability period permits the borrower Lear to avail the opportunity of draw down facility within the period of 2 years from the date of the loan agreement. However, the lender bank that is Hamlet encounters problems related to issuing of draw down loan to the lender. The lender in this respect is concerned with the protection terms that will help the lender in avoidance of the draw down facility. For analyzing this case, the difference between the term loan facilities and the bilateral loan facilities needs to be discussed. The term loans provide a lump sum amount of money for no more than five years. The repayment schedule of a term loan is predetermined. The repayment schedules are amortization, balloon payment or bullet payment. Another advantage of the term loan facility is that the lender may issue the loan depending upon the needs of the borrower. These types of loan give the borrower the option of availing the availability period and the option of draw down facility. The major advantageof a term loan facility is that the borrower can manage the sum of the loan borrowing and thereby managing the amount of commitment fees and the interest rates accruing out of the loan. However, the major disadvantage of the same is that the amount, which is repaid, cannot be used for draw down facility. The provisions states the draw down facility can only be availed from the commitment fees. On the contrary, bilateral loaninvolves two parties, namely the lender and the borrower. Bilateral facilities are common in the case of small term loan, revolving credit and overdraft facilities. Since it is a short period loan, hence the commitment fees are also low. However, in a short period of time the sanction of draw down loan will not be given to the borrowers.In this case, the loan is taken for a period of 5 years which shows that although its a bilateral loan however the loan was taken as a term loan. Hence as per the terms of the term loan the lender is obliged to make the draw down facility available to the borrower Since the borrower is making the payments of the commitment fees for the availability period of 2 years. The draw down loan is the accumulated reserves of the borrower himself. The borrower is liable to make advance issues from the commitment fees hence the money taken as loan is the money of the borrower by default. Hence, draw down facility is a legal right o f the borrower. Thus, analyzing the case shows that the borrower in this case has the right of withdrawing the loans during the availability period. However, the draw down facility is provided only once to the borrowers within the total tenure of the availability period. Since the draw down facility is a interest free advance loan hence the borrower will have to make regulations that will allow the borrower to take the loan only once. Thus, Hamlet in this respect can limit the draw down facility for Lear. Thus the case analysis suggests that the draw down facility is compulsory and there are no potential terms or laws which will protect the lender from issuing of such loans. Thus, the lender in the case study that is Hamlet is obliged to make draw down loans to Lear whenever the loan is demand within a period of 2 years. Assignment 2 Concepts and terms Syndicated loan The syndicated lenders regulate the secondary market of UK and US. The syndicated loans are the loans provided by a group of lenders and are arranged by one or several commercial banks or investment banks. Clause 26 of the LMA standard Loan agreement states that the arranger bank is the bank that acts as the contact point between the party and the syndicate lenders. As per the legal provisions, they are required to negotiate the lending terms and the arrangement of the syndicate loans. As soon as the syndicate loan agreement is signed the arranger takes the responsibility of processing the loan, assignment of the loan proportions, interest payments to different syndicate members. In the UK, secondary market the participants prefer syndicate loans compared to bilateral loans since the syndicate loans unites the borrowers and the lenders under one contractual agreement. The price of syndicated loan iscombined of loan interest and fees. The loan is provided for a period of three to five years for short-term purpose, seven to ten year for medium term and 10 to 20years for long term purpose. Another he advantage of this type of loan includes the fact that it has a multi-currency facility. Hence, it is advisable to take syndicated loans. However in case of syndicated loans since the arranger and the arranger handle the whole process is responsible for the process of providing the information to the lenders and the borrowers hence the breach of turst and misrepresentation of the information gives rise to the economic loses. Legal liabilities of arrangers or house banks in syndicate loans As per the English Law, the liability of the arrangers in a syndicate loan can arise in four major ways namely: The tort of negligence The Misrepresentation act 1967 The tort of deceit A claim for breach of fiduciary duty Under the above terms, the syndicate lenders or the borrowers may make claims against the arranger. The tort of negligence will arise if the arranger will make any negligent statement that may result in any economic loss of either the lender or the borrower. The case of The Sumitomo Bank Ltd v Banque Bruxelles Lambert S.A, stated that it is the duty of the arranger to take reasonable care in delivery of information to the lender. The Misrepresentation act 1967 terms that any inaccuracies or misleading information within the information memorandum provided to the syndicate lenders will make the arranger liable for the loss. This can also arise from a tort of deceit. However, the tort of deceit can be charged against the arranger if the plaintiff is able to prove the case. Finally, the arranger can be made liable if the arranger owes any fiduciary duty of disclosure to the syndicate lenders. However, if the arranger takes the help of the exclusion clauses then the arranger is able to g et free from the liability of the syndicate loans. Relevant case laws Harbinger Capital Partners Master Fund I, Ltd. v Wachovia Capital Mkts., LLC. 2011 NY This case was long pending in the supreme court of New York. The case arose out of a massive fraud committed by the Le Nature Inc. who is a beverage manufacturer in Pennsylvania. The Harbinger Capital who acted as one of the syndicate lenders in the syndicate loan given to Le Nature filed a suit against Wachovia who was the loan arranger claiming Wachovia to be liable for the fraud.Wachovia in the year 2006 arranged for a syndicate loan of $ 258 million for Le nature Inc. Harbinger Capital was one of the syndicate lenders in this loan process. However, shortly after the loan was arranged and sanctioned it was revealed that Le Nature was financially weak and had produced false financial statements and is unable to make repayment of the loan. After this fact came into notice, Le Nature filed for a bankruptcy protection. The lenders thus filed a suit against the company as well as the arrangers stating that it was the liability of the arrangers to ensure the correct submission of the fi nancial information of the borrower to the lender. However, the verdict of the court was in the support of Wachovia because Wachovia took the help of the exclusion clause. Case analysis In the given case White Rose is the syndicate lender who sanctioned a loan to Yorkie Ltd who is the borrower. The arranger of the syndicate loan was Red Rose bank. Yorkie Ltd used the loan to make a financial acquisition of Lancopia Inc. The arranger in this case was made aware of the false representations within the financial statements of Lancopia. This information was given to the arranger prior to the sanctioning of the loan. The arranger however did not pass the information to the syndicate lender nor was the information provided within the information memorandum. The misleading info4rmtaion within the financial statement of Lancopia will lead to insolvency of Yorkie in future, which will make it difficult for the company to repay the syndicate loan.Analysis of the case shows that as per the English Law, the arranger here had not made any exclusion clause within the syndicate loan agreement, which confirmed that the arranger is liable for any economic or legal losses. Since the information about the liability issues within the financial statement of Lancopia were provided to the arranger prior to the arrangement of the syndicate loan, hence the non-disclosure of the information will be regarded as Tort of deceit on the part of the arranger. Moreover, Article 8 of the Banking Regulatory commission states that following are the major functions of the arranger bank namely Launching and organizing a syndicate loan Appropriate the loan parts to the member banks Conduction of due investigation about the borrower before arranging for the loans Provide all the necessary information both positive and negative about the borrower within the information memorandum Negotiation of the loan terms Assisting the correspondent bank in arrangement of the loan Article 20 suggests that information memorandum is the most important source of reference for the syndicate lenders in consideration of the credit opportunities. Thus, the article states that the memorandum should include the following terms namely Conditions for applying a syndicate loan Legal status and financial performance of the borrower Over all explanation of the project for which the loan is taken and the potential risks involved with the project Information about the guarantor or the collateral security Risky situations and counter measures that should be taken by the borrow for loan payment Approval documents for the project and environmental assessment documents for the project As per the provisions of the article 20, the arranger in the given case should have supplied the information about the legal status and financial performance of Lancopia within the information memorandum. Moreover, Article 20 also requires the arranger to disclose the risks related to the project undertaken by the borrower with the loan amount. In the given case, Red Rose has failed to make any disclosure related to the risk that Yorkie Ltd will face after the acquisition of Lancopia. In order to file a case on the grounds of Tortof Deceit, White Rose needs to show evidences that Red rose has made the misrepresentations knowingly and dishonestly. However, if the arranger proves that the misrepresentation conducted by the arranger was believed to be true by the arranger than the liability for deceit cannot be filled against the arranger. In the given case, though the arranger that is the Red Rose bank cannot claim that the failure to provide the information about Lancopia was an act of carelessness. The arranger can also not suggest that the arranger had misinterpreted the financial statements of Lancopia since the liabilities were not disclosed within the financial statements. The facts that the liabilities are not stated within the financial statements were previously informed to Red rose. However, Red Rose did not bother to include the same within the information memorandum. Thus White Rose can make claims against Red Rose successfully on the grounds if Tort of deceit. In thecae United Pan-Europe Communications NV v Deutsche Bank, it was confirmed by the court that the arrangers have fiduciary duty of loyalty towards the lender and the borrower both. Thus keeping the prospect in mind it may be concluded that in the given case the arranger bank that is Red Rose has a fiduciary duty as well towards the White Rose. Hence, the White Rose can claim for the economic losses from the arranger since the arranger has breached the terms of syndicated loans under two grounds namely the Fiduciary ground and the Tort of deceit grounds. Thus the case can be concluded with the basic notification of the fact that the lender can legally claim compensation from the arranger since the arranger has deliberately restrained from providing the useful financial risks involved with the loan sanction. However, White Rose cannot make any legal claim on the borrower that is the company because the company had substantially supplied all necessary information about the probable risks that may arise due to the non-disclosure of the liabilities in the financial statements. Conclusion The assignment shows the legal aspect of the loan agreement terms. From the first part of the assignment, it is clear that the major terms that are included within a term loan are the LIBOR interest rates, the availability period, the percentage of commitment fee, the loan period and the breach terms. The first assignment also shows that Hamlet is legally liable for payment of draw down loans to Lear. If Hamlet restrains from making payments to Lear, then Lear can file legal suits against Hamlet. However, Hamlet is able to restrain the loan on two major grounds, firstly if the borrower that is lender is not able to produce any proof of the DSR or if the borrower that is Lear, makes claim of the loan more than once. The second part of the assignment focuses extensively on the syndicate loan terms and policies. The second par shows that since the syndicate loans involve three major factors namely the group of lenders, the party and the arranger hence all the three parties have a legal obligation of loyalty against each other. The case analysis of the second case shows that arranger of the syndicated loan is a defaulter on the grounds of tort of deceit and Fiduciary obligation. Since the arranger had not included any exclusion clause at the time of arrangement of the syndicate loan agreement hence the arranger is liable of the economic loss that the bank will suffer due to the bankruptcy of the party. Thus the second case suggests that the lender has the option of taking legal actions and filling suits against the arranger. Reference list Billiot M and Daughtrey Z, 'Evaluating Environmental Liability Through Risk Premiums Charged On Loans To Agribusiness Borrowers' (2001) 17 Agribusiness Black O, 'AGREEMENTS, UNDERTAKINGS, AND PRACTICAL REASON' (2004) 10 Legal Theory Bond P, 'Joint Liability Among Bank Borrowers' (2004) 23 Economic Theory Chasek P, 'Multilateral Environmental Agreements: Legal Status Of The Secretariats - By Bharat H. 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(2012) 9 Cambridge yearbook of European legal st Stein J and Ward E,Commercial Real Estate Financing, 2014 Taylor P, 'The Vertical Agreements RegulationA Critical Appraisal' (2012) 3 Cambridge yearbook of European legal st Wallace A, 'Feels Like I'm Doing It On My Own: Examining The Synchronicity Between Policy Responses And The Circumstances And Experiences Of Mortgage Borrowers In Arrears' (2011) 11 Social Policy and Society Zhang Y, Gan C and Li Z, 'Effects Of Borrowers' Quality On The Size Of Market Response To Bank Loan Announcements In China' (2012) 35 Management Research Review Mary Jo Billiot and Zoel W. Daughtrey, 'Evaluating Environmental Liability Through Risk Premiums Charged On Loans To Agribusiness Borrowers' (2001) 17 Agribusiness. Ruth Plato-Shinar and Marcia Gelpe, 'Lenders' Liability For Environmental Damages In The Absence Of Statutory Regulation Lessons From The Israeli Model: Part 1' (2011) 5 Law Fin Markets Rev. Dongmei Qu, 'Lenders Liability Of Commercial Banks In Environmental Tort: Focusing On American Law' (2010) 3 JPL. Kunibert Raffer, 'Risks Of Lending And Liability Of Lenders' (2007) 21 Ethics int. aff. Martin D Polevoy,Negotiating The Sophisticated Real Estate Deal, 2010(Practising Law Institute 2010). Peter Salvador Munoz, Peter A Sarasek and Joshua Stein,Commercial Real Estate Financing, 2010(Practising Law Institute 2010). Cecil J. Olmstead, 'Economic Development Loan Agreements: Part I. Public Economic Development Loan Agreements; Choice Of Law And Remedy' (1960) 48 California Law Review. Julie T Moran, Paul J Mulligan and Amanda Zuretti,Drafting Negotiating Loan Workout Agreements(MCLE 2010). Curtis R. Reitz, 'Construction Lenders' Liability To Contractors, Subcontractors, And Materialmen' (1981) 130 University of Pennsylvania Law Review. Harald Mller, 'Legal Aspects Of Eà ¢Ã¢â€š ¬Ã‚ Books And Interlibrary Loan' (2012) 40 Interlending Document Supply. Jonathan Mechanic and Martin D Polevoy,Negotiating Real Estate Deals, 2014. Kazi Abdur Rouf, 'Grameen Bank Women Borrowers Familial And Community Relationships Development In Patriarchal Bangladesh' (2012) 1 IJRSP. Robert Schtze, 'EC Law And International Agreements Of The Member StatesAn Ambivalent Relationship?' (2012) 9 Cambridge yearbook of European legal st. Yong-Chin Liu and Hsiang-Ju Chen, 'Economic Conditions, Lending Competition, And Evaluation Effect Of Credit Line Announcements On Borrowers' (2012) 20 Pacific-Basin Finance Journal. 'Mali: IDB Loan Agreements' (2012) 49 Africa Research Bulletin: Economic, Financial and Technical Series. Paul M. Taylor, 'The Vertical Agreements RegulationA Critical Appraisal' (2012) 3 Cambridge yearbook of European legal st. Joshua Stein and Everett S Ward,Commercial Real Estate Financing, 2014. Paul M. Taylor, 'The Vertical Agreements RegulationA Critical Appraisal' (2012) 3 Cambridge yearbook of European legal st. 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Changes in the Forest of Arden free essay sample

How do characters change throughout a play, story, or novel? Well, in the play As You Like It, by William Shakespeare, many different characters change during their stay in the Forest of Arden. We will write a custom essay sample on Changes in the Forest of Arden or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A handful of characters meet new people and undergo new, different experiences that change the characters forever. In Act V, scene ii Oliver explains the two major changes he undergoes to his younger brother Orlando. Oliver says, â€Å"I love Aliena,† (V, ii, 7). This shows how after entering the Forest of Arden Oliver meets Aliena once and becomes lovesick. However, before he had entered the forest Oliver had shown no emotion that could lead to lovesickness. Oliver changed in another major way in Act IV, scene iii when he says, â€Å"To tell you what I was, since my conversion so sweetly tastes, being the thing I am. †(IV, iii, 137-138). This explains how Oliver’s affection towards his brother Orlando has dramatically changed since Oliver had entered the Forest of Arden. Before entering the Forest of Arden Oliver despised his brother and had even attempted to kill Orlando twice. But after, entering the forest Oliver’s was saved by Orlando who could have easily left Oliver there to die. After this experience Oliver had an epiphany realizing his bad doings and decided to change and care for his younger brother. This shows one example of the changes a character undergoes while in Arden. Another character who significantly changes after the Forest of Arden is Duke Fredrick. In Act V scene iv lines 162-163 Jacques de Boys says â€Å"His crown bequeathing to his banished brother, And all lands restored to the magain † Jacques de Boys also states in Act V scene iv lines 160-161, â€Å"Where meeting with an old religious man, After some questions with him, was converted†¦Ã¢â‚¬  These two quotes show how Duke Fredrick transforms after entering the forest. His first major change is how he gave up his royalty and dukedom to become a monk. Before, entering the Forest of Arden Duke Frederick did anything for power including banishing his brother from the court. But after entering the forest is willing to give up everything he has to be a monk. The second significant alteration of Duke Fredrick’s personality is how he is now willing to give up all of his material goods that he prized. But after entering the Forest of Arden he has no wanting of his material goods that banished his brother and niece for. Duke Fredrick hows how being in the forest for a little while can change a character in the biggest of ways. In conclusion, in As You Like It by William Shakespeare, different characters change due to different experience and new people they meet during their stay in the Forest of Arden. Some people changed their view of people while others changed their view of the world. Form these examples it can be concluded that new people and new experiences can change people’s lives forever.

Shouldice Hospital Case Report Essay Example

Shouldice Hospital Case Report Essay Subject: Problems and Plans Operational Assessment of the Shouldice Hospital Thank you for the opportunity to consult on your Shouldice Hospital operational assessment. I understand that you have implemented a well developed focus strategy (market focus and internal focus) successfully and Shouldice achieves outstanding results by maximizing the difference between perceived quality and value to the patient on one hand and the cost of supplying services on the other. The nurses and doctors treat their patients with care and understanding and treat them more like family members. This has led to the high level of praise for this hospital and its treatment. The rising number of satisfied patients and word of mouth referral has led to demand for the facilities services which outstrip the facility’s current capacity. I understand that you are looking for guidance on specific actions in order to increase the hospital’s capacity while at the same time maintaining control over the quality of the service delivered, and the hospital management. I have identified the problems and offered a list of alternate courses of action. Problem Definition: The problem is that Shouldice is facing a paradox of change. Shouldice is operating at its â€Å"best operating level† for a service company with limited flexibility in its facility, a specialized work force but are failing to meet all the demand for its chosen market niche. Adding additional capacity to meet the unmet market need may upset the existing work force and lower service quality. Failing to meet the market demand may invite competition that could eventually cause Shouldice to lose market share and end up with excess capacity. We will write a custom essay sample on Shouldice Hospital Case Report specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Shouldice Hospital Case Report specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Shouldice Hospital Case Report specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Problem Justification: It is assumed that they are operating at the â€Å"best operating level† because the way the case describes how efficiently the hospital is ran and how the patients appear to be pleased with their treatment. Capacity is nearly 100% full if they do 30 operations a day and the patients stay 3-4 days. This would fill up 89 beds for a 5 day work week. They also have 15% (14 hostel rooms) additional capacity for peak times. This also works out to be about 70% capacity of their full time potential of 7 days. 70% of maximum capacity is the best operating point. To increase it rate of service utilization will decrease the service quality. For capacity analysis, refer to Appendix-B. To increase their output and maintain their quality they would need to increase the size of the hospital. This involves large capital investments and considerable time. Construction would also cause a disruption to the quality and country club atmosphere of the hospital. Due to shift restrictions the current operating rooms are completely un-utilized for 2 days of the week as well as 15. 5 hours of each weekday. Kitchen and common area are designed to accommodate one hundred patients and it is important that these facilities be kept up to ensure patients still receive the high level of satisfaction with the experience at Shouldice. The staff also has limited flexibility. Surgeons and surgeons’ assistants are specialized fields that have limited desire to be cross trained. It is assumed that the staff is happy with the existing work schedule and do not want a change. Increasing the days worked would cause more aggressive scheduling of the operating rooms and may make it hard to maintain the same kind of working relationships and attitudes. Alternative Courses of Action: Alternative courses of action are based on the assumption that the reason for their desired expansion is to meet an unmet market demand. i) They could add an additional day by operating on Saturday. ii) They could do nothing different and continue to do as they are currently doing. iii) They can add a new floor (i. e. 45 i. e. 50% more hospital beds). iv) They can meet the unmet market demand with external capacity (establish a new facility). v) They can utilize the current facilities during some of its present idle time. Evaluate alternatives and make decisions: i) Adding an additional operating day on Saturday is a valid consideration. It would utilize ideal hospital capacity. It could increase the number of patients served by 9% or 800 patient a year. Would this be a sufficient number of patients served to keep competition from entering the same market is unknown. Adding a Saturday is also assumed to have a negative impact on the work force that drive down the quality that gives Shouldice a competitive advantage. It would increase rate of service utilization beyond 70%. This could be offset by hiring addition staff. But one should consider the time it takes the new staff to come up the efficiency curve. For capacity analysis and financial details refer to Appendix-C. ii) Doing nothing is a valid consideration. Their existing system and reputation sets them apart as a market leader and it is assumed to be a profitable setup. If it is working do not try to fix it. We assume that the existing set up is acceptable to management as far as profit and other operating measures. The assumed risk is if they do not do anything then competition will enter the market place and could eventually take patients away from Shouldice. There is insufficient data presented to truly analyze this risk. iii) Increasing the number of bed by 50% would not be advisable unless they added more doctors and surgery rooms because the existing plant capacity and number of doctors could not fill an addition 45 beds. They would be operating the surgery rooms at over capacity. The construction requires large capital investment, time, and would disrupt the country club atmosphere. For capacity analysis and financial details refer to Appendix-D. iv) Meeting the unmet market demand with external demand is a valid consideration. It could be done in several different ways. They could look to other facilities that are similar and team with their doctors to train them in the Shouldice processes and share in the profits. This would help keep the competition out of the market and could be done as a silent partner until the service quality reaches a level that Shouldice would want to associate their name with the other facility. Another option would be to establish a new facility for Hernia. Another option would be to subcontract or franchise the operation. For merits and demerits refer to Appendix-E. v) Relieve the operating room bottleneck by utilizing the current facilities during some of its present idle time. Addition of weekend or evening surgeries will increase throughput without any capital investment. Expand the facility’s kitchen and social area’s to accommodate the increased patient throughput and continue to provide a high quality patient experience for its customers. Recommendations: I would recommend a combination of doing nothing with the existing staff and plant as to maintain the country club atmosphere and gregarious nursing staff that gives it its competitive advantage and meet the unmet market demand with external sources of capacity to keep the competition from entering the market. I would be happy to elaborate on my recommendations in future correspondence. Sincerely, An MBA Student Appendix-A Cost comparison – Shouldice vs. Other Hospitals: Cost Items| Shouldice| Other Hospitals| Remarks| Costs of typical operations| $954*| $2000-4000| * Without general anaesthetic| Transportation(round-trip fares for travel to/from Toronto)| $200-600| $200-600 **| **No data available. Considered the same as Shouldice. | Time Lost from work in Hospital| 04 days| 05 days| | Time lost from work while recovering| 05 days| 10 days| | Value of time lost (ranging from $50 to 500 per day)| $450-4500| $750-7500| | Total before Allowancefor recurrence| $1604-6054| $2950-12100| | Probability of Recurrence| 0. 80%| 10. 00%| | Expected Cost of Recurrence| $13-48| $295-1210| | Total cost to patient, employee and insurer| $1,617-6,102| $3,245-13,310| | Profitability of Shouldice Hospital Clinic: Hospital: Items| Shouldice Hospital| Remarks| Revenues per year(4 days X $111/day x 6,850 patients/year)| $3,041,400| Charges for hospital stay = $111/day. Operations per year = 6,850 (in 1982)| Cost per year| $2,800,000| | | | | Profit per year (A)| $241,400| | Clinic: Items| Shouldice Clinic| Remarks| Revenues per year(($450 + 60 + 75 X 0. 20) X6,850)| $3,596,250| Surgical fee=$450/operation. Fee for the assistant surgeon=$60. Fee for a general anaesthetic =$75. Operations per year=6,850 (in 1982)| Cost per year| $2,000,000| | | | | Profit per year (B)| $1,596,250| | Total (Hospital + Clinic) Profit per year (A+B)| $1,837,650| | Total Depreciated Assets = $5 million Return on Asset = $1,837,650/$5 million = 0. 36753 i. e. 37% Appendix-B Current Capacity Analysis Current Throughput: * 6,850 Operations/50 weeks = average 137 operations/week with a peak of 165/week in September. Capacity Analysis: * Examination Rooms: (6 rooms x 3 hrs (1-4 PM) x 5 days x 60 min/hr) / (20 min / exam) = 270 patients /week = 54 patients/day. * Admitting Procedure: (2 people x 4 hrs (1-5 PM) x 5 days/week x 60 min/hr) / (10min/patient) = 240 patients/week = 48 patients/day. * Nursing Station: (2 stations x 4 hrs (1-5 PM) x 5 days/week x 60min/hr)/ (10 min/patient) =240 patients /week = = 48 patients/day. * Operating Rooms: (5 rooms x 8. 5 hrs/room/day x 5 days/week)/ (1. 1 hrs/patient) = 187 patients /week = 37 patients/day. Average operation time = (82% x 45 min + 18% x 90 min) + 15 min file time = 68. 1 min/operation. * Surgeons: 12 surgeons x 3. 5 operations/day x 5 days = 210 patients/week = 42 patients/day. * Hospital rooms: 89 rooms = 147 patients per week (assuming 3. 5 days average stay, 3 days recovery and Monday – Wednesday admittance, No procedures on Saturday or Sunday only recovery and admittance) – 29 patients/day. 103 rooms (incld. 14 hostel rooms) = 161 patients (assuming 3. 5 days average stay, 3 days recovery and Monday – Wednesday admittance, No procedures on Saturday or Sunday only recovery and admittance and use of 14 â€Å"hostel† rooms for two nights each week) – 32 patients/day. Current: Check-in day| Beds Required| | Monday| Tuesday| Wednesday| Thursday| Friday| Saturday| Sunday| Monday| 30| 30| 30| 0| 0| 0| 0|. Tuesday| 0| 29| 29| 29| 0| 0| 0| Wednesday| 0| 0| 29| 29| 29| 0| 0| Thursday| 0| 0| 0| 29| 29| 29| 0| Friday| 0| 0| 0| 0| 0| 0| 0| Saturday| 0| 0| 0| 0| 0| 0| 0| Sunday| 30| 30| 0| 0| 0| 0| 30| | | | | | | | | Total Number in Hospital| 60| 89| 88| 87| 58| 29| 30| Total number of patients per week| 147| Appendix-C Adding an additional operating day on Saturday Use current 89 beds + 14 hostel rooms. Consider 3. 5 days average stay. Total number of patients per week = 180. Current throughput = 137 operations/week (refer to Appendix-B). Theoretical throughput = 161 patients/week (refer to Appendix-B). So, new throughput = (137/161)*180 = 153 patients/week. Therefore, additional patients per week = 153 – 137 = 16 Additional patients per year = 16*50 = 800 Additional revenue = 800*(450+75*0. 20) = $372,000 Total cost = $124,250 Therefore, Net increase in profit = $372,000 $124,250 = $247,750 for no additional investment. Demerits of this alternate action: * Require to schedule 23-25 operations on Saturday. * Six surgeons and a supervising surgeon have to work on Saturdays. * Additional other personnel (an anesthetic, nurses). * Violates the implied contract that Shouldice has with its surgeons, strong opposition by the senior doctors. * Operating close to the theoretical capacity of the facility. Merits of this alternate action: * No investment is needed. * Can still maintain quality service. Appendix-D Increasing the number of bed by 50% Current number of beds: 89 Add in a new floor (expand the capacity by 50%) at the cost of $2 million: 45 beds Total beds = 89+45 = 134 Total number of patents per week = 210 Current throughput = 137 operations/week (refer to Appendix-B). Theoretical throughput = 161 patients/week (refer to Appendix-B). So, new throughput = (137/161)*210 = 179 patients/week. Therefore, additional patients per week = 179 – 137 = 42 Additional patients per year = 42*50 = 2100 Additional revenue = 2100*(450+75*0. 20) = $ 976,500 Total cost = $176,500 Profit = $ 976,500 $176,500 = $ 800,000 Therefore, Return on investment (ROI) = $800,000/$2,000,000 = 40% Demerits of this alternate action: * Require to schedule doctors to the full capacity of five days per week * Increase work load on admissions, kitchen, laundry, housekeeping and accounting * Further staggering of meal hours for patients (100 seat dining room) * Disruption during construction. * Expensive Merits of this alternate action: * Easy to control and maintain quality * Retain the culture and environment Addition of 45 beds: Check-in day| Bed Required| | Monday| Tuesday| Wednesday| Thursday| Friday| Saturday| Sunday| Monday| 42| 42| 42| 0| 0| 0| 0| Tuesday| 0| 42| 42| 42| 0| 0| 0| Wednesday| 0| 0| 42| 42| 42| 0| 0| Thursday| 0| 0| 0| 42| 42| 42| 0| Friday| 0| 0| 0| 0| 0| 0| 0| Saturday| 0| 0| 0| 0| 0| 0| 0| Sunday| 42| 42| 0| 0| 0| 0| 42| | | | | | | | | Total Number in Hospital| 84| 126| 126| 126| 84| 42| 42| Total number of patients per week| 210| Appendix-E. Meeting the unmet market demand with external demand – Establish a new facility Merits of establishing a new facility: * New location close to current setup, say a major city (New York) in USA * Improve its competitive position and increase its profits * Operate in a less restrictive environment * New Opportunities for existing personnel * Transfer of knowledge and expertise to the new facility. Demerits of establishing a new facility: * Requires a significant investment and time * Difficult to maintain Quality control * Difficult to create the same culture and atmosphere * Potential competition with the existing facility.

Why the Articles of Confederation Failed

Why the Articles of Confederation Failed The Articles of Confederation established the first governmental structure unifying the 13 colonies that had fought in the American Revolution. In effect, this document created the structure for the confederation of these newly minted 13 states. After many attempts by several delegates to the Continental Congress, a draft by John Dickinson of Pennsylvania was the basis for the final document, which was adopted in 1777. The Articles went into effect on March 1, 1781, after all, 13 states had ratified them. The Articles of Confederation lasted until March 4, 1789, when they were replaced by the U.S. Constitution. So, why did the Articles of Confederation fail after just eight years? In response to widespread antipathy toward a strong central government, the Articles of Confederation kept national government weak and allowed for the states to be as independent as possible. But almost soon as the Articles took effect, problems with this approach became apparent.   Strong States, Weak Central Government The purpose of the Articles of Confederation was to create a confederation of states whereby each state retained its sovereignty, freedom, and independence, and every power, jurisdiction, and right... not... expressly delegated to the United States in Congress assembled.   Every state was as independent as possible within the central government of the United States, which was only responsible for the common defense, the security of liberties, and the general welfare. Congress could make treaties with foreign nations, declare war, maintain an army and navy, establish a postal service, manage Native American affairs, and coin money. But Congress could not levy taxes or regulate commerce. Because of widespread fear of a strong central government at the time they were written and strong loyalties among Americans to their own state as opposed to any national government during the American Revolution, the Articles of Confederation purposely kept the national government as weak as possible and the states as independent as possible. However, this led to many of the problems that became apparent once the Articles took effect.   Achievements Despite their significant weaknesses, under the Articles of Confederation the new United States won the American Revolution against the British and secured its independence; successfully negotiated an end to the Revolutionary War with the Treaty of Paris in 1783; and established the national departments of foreign affairs, war, marine, and treasury.  The Continental Congress also made a treaty with France in 1778, after the Articles of Confederation had been adopted by the Congress but before they had been ratified by all the states. Weaknesses The weaknesses of the Articles of Confederation would quickly lead to problems that the Founding Fathers realized would not be fixable under the current form of government. Many of these issues were brought up during the Annapolis convention of 1786. These included the following:   Each state only had one vote in Congress, regardless of size.Congress did not have the power to tax.Congress did not have the power to regulate foreign and interstate commerce.There was no executive branch to enforce any acts passed by Congress.There was no national court system or judicial branch.Amendments to the Articles of Confederation required a unanimous vote.Laws required a 9/13 majority to pass in Congress.States could levy tariffs on other states goods. Under the Articles of Confederation, each state viewed its own sovereignty and power as paramount to the national good. This led to frequent arguments between the states. In addition, the states would not willingly give money to financially support the national government. The national government was powerless to enforce any acts that Congress passed. Further, some states began to make separate agreements with foreign governments. Almost every state had its own military, called a militia. Each state printed its own money. This, along with issues with trade, meant that there was no stable national economy.   In 1786, Shays Rebellion occurred in western Massachusetts as a protest against rising debt and economic chaos. However, the national government was unable to gather a combined military force among the states to help put down the rebellion, making clear a serious weakness in the structure of the Articles of Confederation. Gathering of the Philadelphia Convention As the economic and military weaknesses became apparent, especially after Shays Rebellion, Americans began asking for changes to the Articles. Their hope was to create a stronger national government. Initially, some states met to deal with their trade and economic problems together. However, as more states became interested in changing the Articles, and as national feeling strengthened, a meeting was set in Philadelphia on May 25, 1787. This became the Constitutional Convention. It was quickly realized that changes would not work, and instead, the entire Articles of Confederation needed to be replaced with a new U.S. Constitution that would dictate the structure of the national government.

Politics Involving the Media, And Reasons the Media Is Used as a Prime Essay

Politics Involving the Media, And Reasons the Media Is Used as a Prime Outlet for Reaching the Public And How It Works - Essay Example This essay stresses that people are the most important consumers of information in the media. Therefore, they often develop content that can suit their interests and those of people that give it revenues by airing their agenda. In this case, they often do not put major emphasis on encouraging communication and other forms of information sharing. They are least concerned with strengthening public dialogue or facilitating the process of formulating common decisions. This can be achieved if the media can decide to be objective in the process of framing their news and other episodic events. in as much as the functions of the media remains to be education, the public will always remain to be perceived as passive participants and active consumers of the news and other kinds of information from the media This paper makes a conclusion that the media is an important tool by which people often get information that enhances their decision-making skills. The media plays a big role in the process of creating and sustaining the democratic process in countries. By providing this information, people can make their decisions concerning various political agenda. Politics are an important aspect of governance in the growth of the democratic processes in countries. The media has a role to play as far as creating and reporting on the issues and political agenda.