Contract law Case Study Example | Topics and Well Written Essays - 500 words

Contract law - Case Study Example Sunburst deliberately breached the agreed full specification to make extra profit by selling the plaintiff’s wood to a different client. 2. The case is exceptional and normal remedy is inadequate in compensating the breach of contract and thus an order on the defendant to account for all profits. Sunburst had harmed the plaintiff by leading to the loss of amenity and making a profit of 6000. The sale of the mahogany to a different client in the pursuit of greater profits was a breach of the contract. The court should ensure that the defendant does not benefit from the breach of contract by disgorging the profits to the plaintiff. The remedy of 1000 is not enough as remedy to the plaintiff as they will suffer the loss of amenity and the value of their preferred type of mahogany. 3. The case should ignore the general rule of duty to mitigate loss which is applicable to the claim of damages as in the case of White & Carter (Councils) Ltd v McGregor  [1961]. Hasting should not be obliged to accept the breach of contract and should be compensated in full the value of the initial mahogany to be used  £30000  or get a replacement of the mahogany used as opposed to the  £1000  damages. Sunburst harmed the plaintiff by leading to the loss of amenity and making a profit of 6000. The sale of the mahogany to a different client in the pursuit of greater profits was a breach of the contract. The court should ensure that the defendant does not benefit from the breach of contract by disgorging the profits to the

International Business Opportunities Essay Example for Free

International Business Opportunities Essay Commercial poultry farming is a relatively stable business venture. It involves breeding hens and selling eggs. An entrepreneur can commence this business with little initial capital. It is a tedious business but the returns are worthwhile. The intake of chicken in the globe is rising each year. Foreign markets like China are abounding with potential. The human resource is low-priced there, thus, the expenses of reproducing chicken are fairly little. In addition, the superior technology and apparatus enable the farm to generate high quality of goods. The business risks involved are disease control (Jomo, 2003). The owner must ensure that the fowl do get infected by any illness. The effects of this are disastrous since the chances of spreading are very high. Another risk is vacillations in market prices (Jomo, 2003). Nevertheless, if the all the factors work in your favor, you can make a lot of profit within a relatively short time. Corn farming can be a gainful commercial undertaking. Corn is a staple food in many parts of the globe. Ethanol production is an added benefit in this business (McKibben, 2007). The foreign market potential for this business is quite limited. A lot of US corn is genetically modified. There are quite a number of concerns regarding genetically altered foods. Therefore, they are not accepted in the countries they are exported to. This leads to loss of revenue (Fussell, 2004). The decision to plant altered corn or not should be made with objective information needed to make an educated choice. The safest option for a farmer who intends to export his of her corn is to plant a variety of seed types. The business venture I advice a new company to start is poultry farming in China. The advantages are endless. The Chinese market is huge just in terms of population. The chicken market especially is on the increase. Eggs and chicken are daily commodities, thus, the demand is excessive. This is the more lucrative project between the two.

Two different queuing systems

Two different queuing systems Introduction This report presents the modeling of two different queuing systems in a typical bank environment using the arena software. The confidence intervals for both the systems are constructed based on the simulation results. The systems are then compared to find out which queuing system performs better. Assumptions For both systems, no real data was collected. Both the interarrival times and service times were taken from known probability distributions. Other assumptions also include no balking, reneging and queue jumping. Each replication had the same initial conditions and terminating events. Lastly, both systems are assumed to be stable, have infinite calling population and no limit on system capacity. Modeling of the systems In this section of the report, the actual modelings of both the systems using the arena software are discussed. Configuration of the models and steps to run the system are also highlighted. Firstly, system 1 is explained, followed by system 2. System 1 modeling System 1 has a separate queue for each individual bank teller. Based on Kendalls notation, system 1 is an M/M/4 system. It is a Poisson process and disallows batch arrivals. The table below summarizes the categorization of the system based on the parameters of the system. In this system, customers arrive and choose to join the shortest queue. The highlighted mean values in the table represent the exponential mean value ?. For the interarrival time, 100 customers arrive in 1 hour. Hence, ÃŽ ²= 1/ (100/60) = 0.6 Firstly, create the customer arrival portion by clicking and dropping the create button. Next configure it by doubling clicking the diagram. The Figure shows the dialog box to configure the entity. Type the parameter as shown in Figure 2 above for this system. The configuration can also be shown in the figure below. Create the four individual processes for each of the Bank Tellers by using the process button. Configure the process as shown below. Since the customers can choose the shortest queue to join upon arrival, create a decision box by using the decide button. Configure the decision box as follows: Click on the Add button to include the conditions for the branching conditions. Select Expression and right click and select expression builder to construct the expressions. Finally, create the customer departure by using the Dispose button. Double click on the button to configure by naming it. Lastly, connect all the components together to model the system 1. System 2 modeling System 2 has only a single queue for all the arriving customers. When a bank teller becomes available, the customer will be served by that bank teller. Based on Kendalls notation, system 2 is an M/M/1 system. The table below shows the categorization of the system 2 based on Kendalls notation. Running the Simulation Once the models of both the system are constructed, simulation runs are conducted to evaluate the performance of the systems. The steps in running the simulation are as follows: Click on the Run tab and select Setup. Click on the Replication Parameters tab. Input number of replications as 15 and replication length as 480 change all the units to minutes. This is shown in the Figure below. Click on Run tab and select Go to run the simulation. Simulation Results This section of the report summarizes the results produced by both the queuing systems. The performance measure parameter is the average time the customer spends in the bank. The results for each individual system are evaluated and the following confidence interval is constructed. Then the two systems are compared by constructing another confidence interval. System 1 Results The system 1 results are based on the average time a customer spends in the system as its performance measure. The average time for each replication is summarized in the table below. Firstly, the mean is computed using (n) = 4.8121 Variance is also computed using (n) = 1.103800987 Hence the 95% confidence interval (? = 0.05, t14, 0.975 = 2.145) for system1 is computed using Confidence interval: [4.2302, 5.3940] System 2 Results The system 2 results are also measuring the average time the customer spends in the system. The results are summarized in the table below. By using the same formulas, the mean, variance and confidence interval are as follows: (n) = 3.804533333 (n) = 2.231921051 Confidence interval: [2.9771, 4.6319] Comparison between Two Systems From previous results, the confidence intervals of both the systems overlap each other. Therefore, it is hard to determine which system performs better. Hence, paired- t confidence interval is used to compare the two systems. It is important to note that the number of replications for each system must be the same for this type of comparison. The table below summarizes the results of this comparison. The mean, variance and the confidence interval is computed and the results are as follows: (n) = 1.007566667 (n) = 3.578001252 Confidence interval: [0.5192, 1.4960] Since the confidence interval does not contain zero, there is strong evidence to conclude that system 1s average time customer spends in the system is larger than that of system 2. Hence, system 2 performs better than system 1. Conclusion This report presents the models of two different queuing systems in a bank environment. Through the simulation results, it is found that system 2 performs better than system 1. In order to get more accurate results, the number of simulation runs must be increased and other performance measure parameters can be tested to further gauge the performance of both the systems.

The Importance of Winning Essay -- Personal Narrative

The Importance of Winning There is an old saying â€Å" It doesn’t matter if you win or lose, it’s how you play the game.† How true is this? Can this be applied to all situations in life? This may be pertinent to children in schools who participate in trivial events such as sports, for example. However, with these types of ideas we are saying that losing is fine. Consequently, youths are goaded to contend with the ideas of being losers and also-rans. In events such as sports, politics, and even war, the old saying should be paraphrased to â€Å"It does matter if you win or lose and how you win.† Winning or losing can be a matter of life and death. Today’s professional sports players are so responsible for the team that they know they have to play at their best, with one hundred percent effort. Otherwise, the consequences are some times fatal for the fans and players as well. For instance, at the U.S. Soccer World Cup of 1994, the national team of Colombia was playing against the U.S. to qualify for the second round. One defender from the Colombian team, Andres Escobar Gomez, in an effort to kick the ball out of the terrain, accidentally kicked it into the goal of his team. The opposite team jeered the auto-goal because the victory for the U.S. was eminent. The Colombian fans were so angry that when the team went back to Colombia, the soccer player who scored the auto-goal was murdered two days later by radical fans. This is just a tragic example of how important it is to win. ...

Food Presentation

As we all know, food is essential to our daily lives because it gives us the energy and nutrients that we need especially when we prepared it right. So our professor gave us a task to prepare a meal (good for six persons) that follows the guidelines of the Food Pyramid. During our brainstorming, many ideas came up to our minds. But we came up to a point that we should have criteria in choosing the right meal. It should be healthy, satisfying, and of course it will not cost us too much. After exchanging ideas, we finally decided that we will be having Crab and Corn soup as the appetizer, Chicken Curry for the main dish, Saging Con Yelo for the dessert, iced tea (Apple flavor) for the drinks and Apple for the side dish. After the discussion, the group leader assigned the task and set the time and place for the next meeting. I was assigned to prepare the list of ingredients that will be used for the cooking. When my group mates and I meet again, everybody was excited especially me because we will be buying the ingredients that we need for the food presentation. It’s already been a long time since I last go to a market and I really don’t know how to choose from what’s fresh or not and to buy or not to buy so I asked my group mates to teach me the basics in buying fresh vegetables, meats and fruits. Luckily, Florevil knows something about cooking so we didn’t had a hard time dealing with it. Since me and some of my group mates don’t know how to cook, we are assigned to prepare the ingredients and make sure everything is ready. While Florevil is cooking the meal, I watched every step of it so I can cook it at our house when my mom is not around. As the meal is almost done, some of my group mates prepared the dessert and the side dish, some prepared the table and set it in a presentable way and some called the guests who will taste the meal that we prepared. I couldn’t resist myself to eat when I smelled the Chicken Curry but I have to because we should serve the guests first. By the way, it is my favorite dish After the guests tasted our meal, they gave us comments. The food is well presented and the main dish and the dessert are delicious. But the appetizer is too salty and didn’t go well with the main dish and dessert. Good thing we had apples as our back up to the salty appetizer we cooked. The presentation ended. We cleaned our mess and had a last group meeting to discuss the positive and negative comments of the guests. We accepted the criticisms given by the guests whole heartedly for us to learn from it and to improve more the next time we will have an activity like this. We can also apply the knowledge that we have learned from this activity and use it for the future.

Cavendish Publisher Ltd Essay Example

Cavendish Publisher Ltd Essay Example Cavendish Publisher Ltd Essay Cavendish Publisher Ltd Essay The old view of the judges role, the so-called declaratory theory of law, was that they were merely declaring the existing law. Lord Esher stated in Willis v Baddeley26: There is no such thing as judge-made law, the judges do not make the law, though they frequently have to apply existing law to circumstances as to which it has not previously been authoritatively laid down that such law is applicable. The modern view is that judges do make law. Lord Radcliffe said: there was never a more sterile controversy than that upon the question whether a judge makes law. Of course he does. How can he help it? 27 The reality is that judges are continually applying the existing rules to new fact situations and thus creating new laws. Law must adapt to changing circumstances and Parliament can be slow28. Therefore, from any disadvantage you could always derive some positive elements. The making of law in decided cases offers opportunities for growth and legal development, which could not be provided by Parliament. The courts can more quickly lay down new principles, as the judges from time to time have to deal with cases of first impression or extend old principles, to meet novel circumstances. If a new event that has not been decided before comes to the court (original precedent), it is likely that the judge will look at cases which are close in principle and decide to use similar rules. This idea of creating new law by analogy can be seen in Hunter v Canary Wharf29. The interference with the reception on Hunters television because of Canary Wharf Tower having been built was likened to the case of Bland v Molselely30, in respect to the loss of a view. There has built up over the centuries a large quantity of cases that illustrate a vast number of the principles of English law. The cases exemplify the law in the sort of detail that could not be achieved in a long code of the Continental type. However, therein lies another weakness of case law. Its very bulk and complexity make it increasingly difficult to find the law31. Moreover, the advantage of certainty is diminished, as there are too many cases that seem really confusing. It is fair to say that judicial precedent has considerable significance within the laws of England, however it is important to see whether the significance is justified, and whether it is current position is adequate. Consistency plays a central role in justifying the decisions taken in particular case. Some believe that treating two cases in the same way can lead to the law being inflexible and rigid and a lack of freedom is formed. This to a certain extent is true but I feel that if two cases are very alike with just material facts being different, then they should be treated in the same way. This leads to fairness and certainty as mentioned previously. However, there are a lot of factors, which make it difficult to achieve consistency, as statements of law on a legal issue are usually made by more than one judge and a single judge make several stamens of law32. Practically any legal system has official hierarchies of decision-making, where superior courts have the power to resolve inconsistent statements of lower court judges. Therefore, there is a degree of inconsistency where the decisions delivered by different judges on certain points of law. In any cases, the rules of precedent do not explain why judges obey the rules of precedent. Neither do they indicate the degree of consistency that is likely to be precedent at any given time33. On the whole the advantages are outweigh the disadvantages and it the best system we have at the moment and still remains highly significant in English legal system. The Practice Direction of 1966 allows the Highest Court in the hierarchy to reverse previous decisions that helps to ensure that old and out dated rules can no longer apply to modern society. Due to the increase of case law the importance of judicial precedent will increase, as it will cover nearly every legal situation. It cannot be achieved by any codified legal system. Even though a part of British constitution has now been codified in statutes it only brings advantages. It can be referred to and it will be easy to see when someone breaches these rights. Before the Human Rights Act was made, citizens had nothing to back them up when they felt their rights as a citizen had been infringed apart from taking the case to the European Court in Strasbourg. Now, there are many different cases that allow citizens to do things they were never previously lawfully allowed to do. The Human Rights law is now entrenched in the UK Judicial system, and so it will be much more difficult to repeal an entrenched Act of Rights when there is a breach of basic human rights. It will be actionable directly in the UK courts. Word count: 3,905 1 Penny Darbyshire, English Legal System, 5th edn, Sweet Maxwell, p. 22 2 Gary Slapper David Kelly, The English Legal System, 6th edn. , Cavendish Publisher Ltd. , pp. 68, 89 3 J. Stone, The Ratio of the Ratio Decidendi, 22 Modern Law Review,1959, pp. 597-8

Ex. 17.15 Essays - Costs, Business Economics, Business, Economy

Ex. 17.15 Essays - Costs, Business Economics, Business, Economy Ex. 17.15 Spear Custom Furniture uses an activity-based cost accounting system to apply overhead to production. The company maintains four overhead cost pools. The four cost pools, and their budgeted amounts for the upcoming period, are as follows: Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $40,000 Materials handling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000 Set-ups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000 Quality control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,000 Four cost drivers are used by Spear to allocate its overhead cost pools to production. The four cost drivers, and their budgeted total levels of activity for the upcoming period, are shown below: Machine hours (to allocate maintenance costs) . . . . . . . . . . . . . . . . . . . . . . . 600 hours Material moves (to allocate materials handling costs) . . . . . . . . . . . . . . . . . . 400 moves Set-ups (to allocate set-up costs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 set-ups Number of inspections (to allocate quality control costs) . . . . . . . . . . . . . . . . 300 inspections The company has been asked by Cosmopolitan University to submit a bid for tables to be used in a new computer lab. The plant manager feels that obtaining this job would result in new business in future years. Estimates for the Cosmopolitan University project are as follows: Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,000 Direct labor (500 hours) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $15,000 Number of machine hours . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 Number of material moves . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Number of set-ups . . . . . . . . . . . . . . . . . . . . . . . . . . .