Sales of Goods by Sea Essay Example | Topics and Well Written Essays - 750 words

Sales of Goods by Sea - Essay Example The law that governs contracts for the sale of goods entrenched in The Sale of Goods Act 1979 plus 1994 amendments. Merchant B is not supposed to pay Merchant B as supported by the argument below’ â€Å"The seller had the obligation of advising the buyer of the impending war between the two states once he became aware.† On evaluation of the risks of the goods while on transit on the sea, there is a strong link risk allocation. As the seller is in physical possession of goods prior to selling, he has the obligation of assuming the measures of preventing risks (Bernd 1). Before the goods left physical possession of the seller to the carrier, he had the responsibility of advising the buyer the probable outcome of the war such that the buyer could have been aware and accepts to assume the risk. The risk of the cargo is passed to the buyer once goods have been delivered.1 Therefore, the seller (Merchant A) having assumed first physical possession of the goods and keeping in mind that the buyer (Merchant B) had not yet assumed any practical possession of the goods leaves the seller at the legal entity responsible for the cargo. Upon delivery of shipping documents, there is no evidence of goods delivery, thus, Merchant B has not fulfilled his contractual duty to claim meeting his contractual part (Bernd 1). Since the Merchant B had the custody of shipping documents, he is obligated to advice the buyer on any impending risks that may render the goods faulty of not getting to the port of Calais on time (Bernd 1). The reason that goods have not arrived the port of destination does not imply non shipment, but rather, there may be eventualities that the goods have not arrived due to war between France and England. â€Å"It is the obligation of the seller to ascertain the exact state of the goods; whether destroyed of cargo sought refuge at a port in Spain† As per the contract of the case in question, the goods were to be delivered from Dover to Calais. The seller has the obligation of shipping the goods that the answer to the contract (Stone and Carr 39). As stated in section 13 of the Sale of Goods Act 1979,2 that where the contract is for sale of goods by description, the goods ought to correspond to the description. According to Section 2, sub. 5: Under the contract, the transfer of goods from Merchant A to Merchant B was to take place in the future upon delivery at Calais to fulfill the contract to be regarded as an agreement of sale. The agreement becomes a sale upon meeting conditions subject to which goods are transferred. Whether the ship; or goods on board are safe, is not the responsibility of the buyer but the seller. This clearly implies that the goods if happened to have encountered shipment risks of perils of the sea are liable to be indemnified by relevant insurer (Simone 95). The seller being well aware of the conditions surrounding the shipment of the goods, has the obligation of following up to ascertain the sta te of the shipment to ascertain the real situation to ensure terms of contract are met.3 Incorporating the incoterms relating to the contract, a contract of insurance entered into, defines the compensation of goods on transits in case of peril of the sea or any other risk that the cargo may be exposed to.4 For a contract to be termed valid and legally binding it must meet several requirements. Since the contract between A and B had requirements that the goods had to be

You are tasked with analyzing the last four years of accounts of a Essay

You are tasked with analyzing the last four years of accounts of a global mining company - Essay Example Graph 1 shows the company’s liquidity ratios over the four-year period. All the point ratios are less than one, and this means that performance of the company in management of short-term assets and liabilities is poor. In addition, current ratio and quick ratio have a declining trend, and this means that the organization’s management of liquidity worsened over the period. The two ratios, however improved from year 1 to year 2 before assuming the decreasing trend. Cash ratio reported an increasing trend but it was too low, with a maximum value of only 0.15. Correlation analysis of the ratios identifies a positive correlation between current ratio and quick ratio and a negative correlation between cash ratio and both current and quick ratio. Table 1 shows the correlation coefficients. Long-term solvency ratios are indicators of management’s efficiency in long-term management of resources. The ratios compare internal and external funding that an organization has and are inversely proportional to management efficiency (Thukaram 2007, p. 90). Times interest earned ration and cash coverage ratios are however inversely proportional to management efficiency (Mayes & Shank 2011, p. 118). From the graph, total debt ratio is low, over the entire period, and debt to equity ratio and equity multiplier ratio falls to lower values by year 1. The three ratios then decreases with time, indicating improved performance, which can be forecasted. Times-interest ratio and cash coverage ratio also show an improvement trend in performance because of their increasing trends over the period. Performance in management of long-term solvency is therefore strong and show improvement possibility. Asset turnover is another performance indicator that shows asset utilization in an organization. Inventory turnover, receivable turnover, and total asset turnover measures are directly proportional to management efficiency while days of realization and capital intensity are inversely

Choose a global business and critically analyse the organisational Assignment

Choose a global business and critically analyse the organisational structure adopted by the company since 2008. Investigate the - Assignment Example Be it television or radio or video recorder or walkman. Sony Corporation is headquartered in Tokyo. It is a global player and has extended in many countries serving millions of customers across the globe. It is the leading manufacturer and the marketer of audio, communications, video and information technology for the customers and for the professional market all over the world. They have also diversified in the financial sector by giving financial services like insurance and banking to their customers. It always gave emphasis on the strategy that they are implementing for the success of their business. The success of Sony was possible through an exceptional vision â€Å"To experience the joy of advancing and applying technology for the benefit of the public" (Hill, 2011). Sony saw its success globally due to the influence that it had on the Japanese habits and culture and penetrated the global market by operating in â€Å"the Japanese way†. 2. Sony Corporation In 1946, the J apanese electrical engineers Masaru Ibuka and Akio Morita created their company Sony Corporation with only 20 employees in Tokyo. Now in 2013 the number of employees has gone up to 1,68,300. The figure makes it clear that even a small company can have its first product placed successfully in the Japanese market. The sale of electronic goods then heated up the market and thus Sony started to expand its business globally after their success in Japanese market (Hill C., 2010). The two founders in 1953 went for a three months long business tour to Europe and America where they signed agreement with the US companies and European companies and thus they penetrated into the American and European market. Later it has expanded its business to Africa and India. Sony has served both the market with their expanding business units and their products (Sony Corporation, 2013c). 3. Sony going Global Sony expanded globally with the following aim and strategies: a) Visionary Leadership: They expanded internationally with the aim to lead one vision and make a group which is flexible and efficient enough to capture the global market by learning their local customers. b) Organizational process: They wanted to spread the awareness of their products through the Global Information Systems and Communication. They even set the Research and Development Team for their long term survival so that they can develop their products as the market requires. c) Organizational Culture: Sony formed a multicultural organisation and thus it made it easy for the employees to work in such a friendly environment with no pressure for the following a particular culture. They standardized their products uniquely. d) Customized products: They even customized the products according to the customer need and this unique strategy gave them a bigger platform in the bigger market. Example: Sony laptop keyboards contain the currency signs which are different for the different countries. 3.1. Strategies undertaken by Sony Strategies that are taken in the global context are the plan of the company to position their products positively in the markets so that they stay ahead of their competitors. Sony Corporation thus made different strategies for the different markets so that they can position their products to the customers. Their corporate strategy is to lead as the global provider of electronics and entertainment. In 2008 the company came up with new strategies whose main aim was to refresh their

Huckleberry Finn Persuasive Paper Essay Example | Topics and Well Written Essays - 750 words

Huckleberry Finn Persuasive Paper - Essay Example Although it is ambiguous as to whether slavery has been eradicated hitherto, the South is still well thought-out precarious territory for African Americans, and the North is the utopian freedom that the blacks look for. Mark Twain has used a single character, Jim, to denote the black race in the story. Jim flees from his owner, Miss Watson, so as to avoid being sold and goes to the North state. This as a result separates him from hi family. Huck, who is running away from his abusive father, encounters Jim as they both set off on their North, bound adventure. Huck despite being white treats Jim as an equal, although he often uses the derogatory word â€Å"nigger†, Huck regards Jim as a friend and not a black man who solely only there to be at his service. As the story unfolds, Huck stays true to his conscience and continues to help his friend. Mark Twain has been labeled a racist by many of his critics, who think the novel is racist on the face of it, and for the most glaringly, obvious reason: many characters use the derogatory term â€Å"nigger† all through. Though the events of the novel takes places in the Southern state twenty years before the Civil war, it would be astonishing if they didn’t use that term. A closer reading also conceals Twain’s staid satiric objective. In one act, for instance, Aunt Sally learns of a steamboat explosion† Good Gracious! Anybody hurt?† she asks. â€Å"No’m†, comes the answer. Killed a nigger† (Twain 107) At this point, anyone who thinks that Mark Twain meant this purposely is factually missing the point. To a certain extent, Twain is using this unfussy dialogue ironically, as a means to comprehend the unnerving truth about the old South. Rural South was a territory where entirely pleasant people didn’t deem the death of a black person worth their attention. The â€Å"niggers† were literally not human beings. Twain drives this point home by making the lady continue† Well, it’s lucky, because sometimes people

Managing Financial Resources and Decisions Essay - 7

Managing Financial Resources and Decisions - Essay Example From the above table it is observed that the Casey will be achieving negative cash balance at the end of every month which indicates that the barber shop will be running its business at loss if the above expenses and income are experienced by it for the next 6 months. From the profit and loss account and cash flow budget mentioned in Task 1 it is evident that Casey’s barber shop will be running at huge loss if he does not modify the business structure. The owner should bring in appropriate changes in business so as to earn profit. The owner should increase the working hours from 6 hours a day to 8 hours a day so that the barber shop attends 24 customers a day instead of 18 customers a day. It will bring in revenue without increase in any further cost. Adults are to be charged  £ 25 for the first two months and then  £ 30 for the next 4 months. The children should be charged  £ 15. The table below reflects the changes that are made in order to have postive ending cash balance at the end of every month. The charge of the services should be increased in order to bring in profit at the end of every month in the business. Adults are to be charged  £ 25 for the first two months and then  £ 30 for the next 4 months. The children should be charged  £ 15. The main aim of this section is to compare the financial statements of two listed companies published in their annual reports and examine the financial performance of the companies by comparing the performance of the financial ratios. The two companies that are chosen are ASDA Limited and Tesco Plc. Both the companies are dominating the supermarkets in United Kingdom. The data required for the ratio analysis are collected from the annual reports of both the companies. A comparison is drawn between the two with respect of their performance: liquidity, solvency and profitability. The presentation and the formats of the two company’s

Decision Paper Case Study Example | Topics and Well Written Essays - 2000 words

Decision Paper - Case Study Example Presently, the school has two payment models, which are the fixed tuition fee system and the after care school payment. In both instances, there are variations with how much parents would pay; especially with the after care fee. With the tuition fee, the difference in amount of money to pay comes in as a result of existing discount systems for parents who qualify and fall within discount criteria. With the after school system, the difference comes in how many hours a student would be engaged in the system. This means that the billing system is complicated because of the differences. However, the billing system is typically manual whereby parents have to make payments directly to the vice principal and in her office. One other situation that creates a bit of difficulty with the present billing and information system; apart from its manual nature is that the payment procedure allows for two modes of payments, which are paying in bulk and paying in installment. Generally, this involves high cost and time for the vice principal in keeping records of various times of billing that payments are made. But for the inability of the information system to handle complex processes including the billing system of the school, the school would have grown beyond its present grade 3 level. The fact of the case is that because the information system is highly manual and complicated, the administrative term of the school hardly have any extra time to undertake administration programs that are centered on growth and expansion. If the principals and administrative term had for the past twenty (20) years dealt with something more advanced and modern, they would have spent less time managing the billing system of the school such that they could have concentrated their time on publishing for the physical expansion of the school. Diagrammatically, the billing and information system uses Microsoft Excel software that contain the following data about students and payments. Student Name Pa rent Name discount on fixed fees Monthly fixed tuition fee Monthly fixed after-care fee Discounted fixed fees Monthly â€Å"drop-in† fees Total monthly fee Payment received Amount paid to date Amount outstanding Business Process Improvement The shortcoming of the old system is its manual nature, which makes working on the billing system cumbersome, difficult and time consuming. It was indeed based on these shortcoming and weaknesses that the new information and billing system was designed. The new billing system embraces and encompasses the new approach to technological development because it has its entire operational component rooted in technological operations. This is to say that there is virtually no need and use of manual manipulations to get the new system to run or start and complete a billing process. The new billing system is typically an online process that gives parents the pleasure of making payments from the comfort of their homes and offices. This means that th ere is a major advantage whereby the need to walk distances from people’s home to the school to make payment has been eliminated. The role of the vice principal to spend almost three quarters of her duties and time in the school overseeing the payment of fees will also stop. This means that there is going to be more time for the school to concentrate on its new expansion

Instruction - Learning Environment Essay Example for Free

Instruction Learning Environment Essay The surroundings in which children learn can greatly influence their academic performance and well-being in school. The architecture, layout, dà ©cor and facilities of their school all play a vital role in shaping the learning environment, yet the importance of this particular aspect of school life can often be overlooked. Does your school have difficulty creating surroundings and facilities which complement teaching and learning in the twenty-first century? Read on to find out about some of the current initiatives helping schools raise achievement through creating an inspirational education environment. A number of schools around the country are still languishing in the Victorian era, with crumbling walls and limited resources. It seems that many schools in the twenty-first century — particularly secondary schools — have to shoehorn modern-day learning and up-to-date resources into nineteenth-century surroundings. Only a tiny proportion of todays schools have been built since the mid 1970s, and with a few generations of children stampeding through their relatively modern facilities, many of these buildings are also edging towards the end of their natural life span. More schools could benefit from a lateral approach to environmental design with its users as the prime focus  Ã¢â‚¬â€ preferably in consultation with them.