Personal statement Essay Example | Topics and Well Written Essays - 1000 words - 10

Personal statement - Essay Example I have been a proud candidate for the major of Economics which has interested me as a potential subject for the development of my natural capabilities. I have always been interested in the subject of Economics and I have had the opportunity to realize the relevance of this subject in the international business arena. As an individual who has been born and brought up in a Chinese family which runs some important business back home, I had a great opportunity to have the first-hand experience of my family’s business. I have also been running a small business with friends and partners in the e-bay. Thus, I have been an individual with lots of experience and interest in business and money matters, and I have been greatly interested in economics as it provides the suitable and interesting areas of discussion. I developed an essential interest in the matters of economics ever since I began to take part in the family business and it came to my notice that having a great awareness of t he elements of economics can greatly help me in my business endeavors of the future. However, I failed to realize that my personal relationship with people around me was getting worse, due mainly to my disregard for the friends and people around. I soon felt that I was not in company with several individuals who share common interest. Many often, I thought I was an isolated member of my society, be it family, college, or other places of social relations. Thus, I was very dull with the way I was developing in my circle. To tell about my personal background, I was born to a family which has a high reputation in business and our family business is a company trading firm, Import and Export Corporation. I have been fortunate enough to be abreast of the developments in business, economy, cost decision-making and accounting from the time I became an adult. In our

PHILOSOPHY CLASS-LONG PAPER Essay Example | Topics and Well Written Essays - 1500 words

PHILOSOPHY CLASS-LONG PAPER - Essay Example The dead can bear no responsibility for their actions. At best, Smith is a zombie, under the control of the scientist. An animated corpse is simply an instrument being used to fulfill the will of the master. Within this system, the scientist is fully alive. He feels pleasure by overcoming displeasures, which in this case would be technical difficulties with his zombie and his chip that prevent Smith from carrying out his master’s will. With every victory over Smith, the master (the scientist) stimulates his will to power and therefore is fully alive. The scientist follows all the rules of Master Morality, and is able to do this with a good conscience. Smith can’t subscribe to the Slave Morality because, ostensibly, he does not know he is being subjugated. He cannot see his master as evil, because he is unaware that his mind has been manipulated by an outside person. Therefore, he bears no responsibility for his actions while under the influence of the neural chip. Holba ch: Causal Determinism: All Events are Caused Holbach states that because we are parts of the greater whole, which is nature, we cannot think, perceive or act without nature influencing us. In order to be free of nature, we would have to be free of â€Å"physical sensibility† which means coma, or death. ... Smith does not, even though it does no obvious harm. As a result, Smith, while under control of the chip, has no â€Å"actual essence† (Holbach) and is not truly alive. Under this system, a person is punished or rewarded due to his acting or not acting on his motives, which we all carry within us. Smith’s volition to act or not act is compromised by the chip, so he should not be punished or rewarded for any actions. â€Å"To be free is to yield to the necessary motives he carries within himself† (Holbach, 113). Smith’s processing of what his motives are, and what to do or not do about them, is controlled by the scientist. It is my position that the scientist alone experiences Holbach’s limited freedom. Hume: On Knowing and the Liberty of Spontaneity Hume defines the will as â€Å"when we knowingly give rise to any new motion of our body, or a new perception of our mind† (57). If Smith’s thoughts are influenced by a neural chip, then Sm ith’s actions, which are directed by this chip, are not mindful actions, but compulsions that have been generated by the chip’s impulses. Smith acts unknowingly, therefore he has no will. Hume’s main argument states that â€Å"2. All mental events (thoughts, feelings, etc.) and actions are constantly conjoined with some other (preceding) type of event, and the mind passes from a consideration of one to a consideration of the other (class notes, italics mine). Smith’s mind is altered by the chip, thus altering the process of consideration from E to F. This makes for a false causal relation in terms of the will. If causation depends on a determination of the mind, then Smith’s mind is being determined by the scientist. There ends up being a

Advantages and disadvantages of the different economic types

Advantages and disadvantages of the different economic types What is economics? Economics is the study of the forces of supply and the demands allocate deficient resources. Economics is divided into microeconomics and macroeconomics. Microeconomics is something doing with the behavior of firms, consumers, and also about the role played by the government. Macroeconomics is more to inflation, industrial production, unemployment and the role played by the government. Microeconomics is the study about the behavior of small economics unit, for an example, individual consumers or households. Microeconomics is behavior of individual units. Microeconomics main concern is about the factors that affects an individual economics choice. Other than that, economics also can be said as branch of social science that can read the production distribution and the consumption of goods and service. Economics also include scarcity, choice, households, goods and productions as a definition. Economics system are studies of the method and institution where societies determine about the ownership, direction and allocation of economics. There are three types of economics system; Socialist system is a system that can be defined as a centrally planned or can be said as command economics. This system is fully controlled by the government. All the choice about resources are all made by the government. Capitalist system means free market economics. This system is like a freedom economy. This is because of the decisions made by the people. This system is mainly about the people in the country. Mixed economy Mixed economy is an economy based on the free enterprise principle. There is still some form of direct intervention and it is controlled by the government. Mixed economy can be said as a form of organization where both capitalist economy and socialist economy are found. In mixed economy there is the presence of private economic freedom with centralized planning and the common goal of avoiding the problems which comes because of capitalism and socialism. In the mixed economy system the main authorization of the economic activities are mainly by the governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s regulation and the licensing policies. For an example, if someone wants to open a business, they must register and take license from the government for that particular business. So in this way, the government becomes a big power in the country. Mixed economy is also known as dual economy. In a mixed economy, the government runs things as post office, libraries, hospital and many more. Even when there is an industry which is not run by the business, still government get taxes and regulation like wage controls. Most of the people all over our country have no problem with the government take control of things like highway construction, birth certificate, national service economy may seem to be very easy as it is but there are some disadvantages in mixed economy also. The biggest disadvantage is between the public and private sector because they easily get blurred or sometimes shift one way or another from time to time mixed economy usually increase more government control and less individual freedom. This is why mixed economy is always in an evolutionary process. Mixed economy involve in two sectors which are public sector and private sector. Both of these sectors exists and function to achieve the national objectives. Both of these sectors is the one make the economic system in the country. Mixed economy is the combination of private enterprise with the government enterprise. There is also freedom of enterprise, private ownership and profit earning in this economy. This economy is used in most of the countries in the world. There are a lot of advantages in mixed economy, for instance, mixed economy help in increasing the national production in the country. In mixed economy, both the public and the private sectors work hard to bring out more good production. The entire problem which is created by the free enterprise and the public control are solved through the mixed economy. Mixed economy provides freedom of enterprise ownership and also the profit earning. There is also social welfare and political freedom in mixed economy. Other than that, all the national resources are utilized under the mixed economy. Most countries in the world have mixed economy. The mixture of two economic can imply a variety of difference for the country. Some of the differences are beneficial and some are neutral. Mixed economy can keep the workforces employed and provide a market for the raw material that they consume in the production. Additionally, mixed economy has the ability to ensure production of social goods. Disadvantages of mixed economy are that it is a half way house. Mixed economy is not very helpful in access optimal use of national resources. Other than that, mixed economy also suffers from disadvantage of both the capitalism and the socialism. Mixed economy is said seldom to achieve progress. Mixed economy also has unsuccessful regulations that may paralyze features of production. Mixed economy also has a problem such as lack of price control management that can cause shortage in goods and this can result in a recession. The disadvantage of a mixed economy really depends on how it is. For an example, if the mixed economy is more to the command economy, it is not too good also. Mixed economy also has many different characteristics. For a example, mixed economy, A might have high tax low regulation while mixed economy B might have mow tax high regulation. This shares a different set of disadvantage because set A gets more profits because of the high tax but as for B it will get lesser profit of the lower tax. Free enterprise system is an economic system where individuals can make their own economic decision. Because it is said free from government constraints. The advantage of free enterprise system is because there are no government restrictions and this makes more opportunities for the individuals. Therefore, in free enterprise system are more potential for private business. Individuals get more freedom and business opportunity because of the enterprise systems. There are more profit in free enterprise system and less competition and also there are more demands in the production and distribution of goods and services. As there is always a advantage, there is also disadvantage in free enterprise system. The disadvantages are lack of government control, for example, corruption and bribery. In free enterprise system this is the main problem, bribery. The control of that state goes to few hands and the economy move more towards monopoly system. Moreover, there are no reforms in the state an d there is also income gap that increases which paralyze the economy in a country. Central command system refers to a system which is organized by a government. Central command system usually determines how a countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s resources should be exploited. Other than that, it also shows how goods and services should be produced and how it should be distributed. Most industrialized countries practices some form of government oversight. Central command system can be said as a true planned economics. Some of the central command system has permit transactions on a small scale but some larger industries are either managed directly. This is why mixed economy is said to have the combination if the free enterprise system and the central command system. The advantage of both the free enterprise system and the central command system is the combination of the mixed economy .In mixed economy, price mechanism plays a part. Price mechanism is allowed to operate but sometimes in some cases the price mechanism fails or can say that it fails to work against public interest. What is price mechanism? Price mechanism is system of interdependence between the supply of a good or service and the price. Price mechanism is basically about the price up when supply is below demand and price down when the supply exceeds demand. Price mechanism also stops supply when suppliers leave the price when the supplies when suppliers leave the market due to the low prices and increases the price there is more suppliers enter the market due to the high price. Price mechanism is also called price system. Price mechanism operates in a free market situation where their forces of petition and supply mechanism prices. Both the producers and the consumers base their specific production and the consumption plans on the current market price. When the consumers pay the price foe a commodity, they motivate the producer of that commodity. The entire price that is paid becomes a vote for more production. Prices are determined by the shortage and surpluses. Sometimes there is shortage of product. This is because of the price to rise, whereas the surplus causes the price to fall. The price is the one which determine how much of a product a producer decides to supply. When the product price is high, the profit also gets greater and more products profit motive. When the consumer needs more goods or product, the demands get higher and this makes shortage of product or goods and this also causes the price to rise. This makes the consumers to be discouraged but the producers are encouraged to supply more. The price of the good will continue o tries until the shortage problem is solved. When this problem comes, how does the government play a part? The government plays a part by fixing the prices above or below the free market equilibrium. They also put tax on the production or the sale of the carious goods. Other than that, they also subsidize the production or the sale of the various goods. Price control is the clear example where the government intervention disrupts the price mechanism. The government subsidy will artificially reduce the price and boost the demand of the goods and as foe the government tax, it increases the productà ¢Ã¢â€š ¬Ã¢â€ž ¢s price to the consumer and decreases the demand also. This explains how government can help to sort out the problem of shortage of product and the raised up price. In a nutshell, mixed economy there is many advantages and also mixed economy helps to run a better country. Mixed economy makes a better economy in a country because of the give and take policy by the government and the people in the country. Economics should be stable as that the people in the country wonà ¢Ã¢â€š ¬Ã¢â€ž ¢t have any problems. Free enterprise system and central command system is the combination of the mixed economy. Both the system has a lot of advantages. Price mechanism must also be stable so that the mixed economy is stable. Price mechanism plays a big part because it can make havoc in the government and the consumers. Therefore, price mechanism works for mixed economy.

Human Influenced Climate Change :: Global Warming Essays

Arguments Against Climate Change These are some of the arguments used to prevent effective action on climate change. Climate change is not occurring This was the original argument used by the carbon industry to discredit climate change and global warming. Today the vast majority of world experts on climatic issues agree that it is changing, and that the evidence is there for everyone to witness. Climate change is good for us A more recent argument used by the carbon industry to confuse the issue of climate change and global warming with the intention of stopping effective action on climate change. Their approach falls into two categories: 1. CO2 fertilisation This concept relates to the fact that CO2 is sometimes a limiting growth factor for plants. The theory goes that with increases in atmospheric CO2 our agriculture will become much more productive. However, the storms, floods, fire and drought that are already playing havoc with agriculture are likely to have a significant negative impact, along with the longer term flooding of coastal areas. 2. Some parts of the world will be better to live in In theory some parts of the world might benefit, from a human point of view, due to global warming. However, at current rates of warming, local ecosystems will collapse and any objective measure of global benefits versus suffering would show much more suffering than benefits gained. Climate change is natural, therefore we should do nothing Climate change is natural and natural climate change is occurring constantly. However, natural climate change has been overtaken by human induced climate change which is causing the majority of climate change we are seeing today. Even if the climate change we are seeing today was totally natural, the disastrous impact is already being felt. It's unclear how much of today's climate change is caused by humans, therefore we don't really know if we should do anything Similar to the above argument and equally nonsensical. We can see and feel the impacts of our changing climate and we should do something about it regardless of the cause. The climate has been much hotter/colder in the past This argument suggests that because the climate has been more extreme in the past we shouldn't worry about it changing. It conveniently ignores the fact that if we reached either past climate extreme, much of our society and ecology would not survive. Climate change has been faster in the past Well it hasn't for the last 800,000 years. Ice core data shows that the fastest rate of CO2 increase over the last 800,000 years was 30 ppm in 1000 years.

Social Mobilization and Political development

Karl Wolfgang Deutsch is a professor of International Peace in Stanfield. Being a great Social Scientist, he was able to come up with an innovative concept on fundamental issues that discusses aspects of nationalism, political integration and political disintegration that occurs within and among many states which have been found to be applicable. He was able to link the concepts of evidence in theory that which are sought to be most preferably systematic and quantitative.In his concept of social mobilization, he defined it to be a process wherein people become deracinated from their ethnicity and turn out to be obtainable for innovative models of communication and behavior and he renowned quantitative pointers to consider it in most countries of the world.He was bale to show how such a process would become a precedent to uplift the probability of what he termed as political integration among the citizens who had been sharing one language, one tradition, and one basic concept of socia l institution whereas it speed up the factors that causes the disintegration of countries wherein citizens do not have the same characteristics. Thus his research and study in effect became enlightenment to the social influences that paved way to the decomposition of the Soviet Union and Yugoslavia and also to the unification of the people of Germany in the history of the modern world.In his study, he was aloe able to establish the specific working conditions for political integration founded on his concept on the â€Å"security communities† which was greatly manifested in the North Atlantic countries. He identifies that the concepts in the political process that occurred in Europe and in the Atlantic as an integration that occurred through a series of conditional hypotheses which he attempted to examine through a quantitative proof having empirical evidences.In the article Deutsch argued that social mobilization is not merely a matter of having a series of changes that occur in a society among people. Rather, it should be understood to be a process that involves historical accounts and is related to economic developments wherein circumstances are clearly identified and are happening in a recurrent manner that are applicable in most countries which are found to be relevant in the field of politics.Therefore, Social Mobilization should be understood to be as a process that occurs to a large quantity of individuals in a society that goes through the process of modernization wherein there is an introduction of the concepts of innovative technology, practices that are non traditional, advanced practices, and changes in their economic life and that which these are deemed applicable and practicable in their lives that such shall be accepted. It should not be misconstrued to be in paralleled with the process of modernization as a whole.Social mobilization brings along with it the consequences where it deals with some periodic clusters history and tradition. Th ese consequences would therefore imply that such a process would definitely sacrifice such recurrent clusters where it would eventually bring conflict of interest socially of political interest in the process.This is the process involved in social mobilization where in there is a process of breaking down and erosion of the major clusters of the old social, economic, psychological commitments of the citizens making them ready for new models and patterns of behavior and socialization through the process of communication.Deutsch pictured such process to be a major step of any society aiming towards full development. He addressed such issues through the test using real situations of states and many countries. He was able to construe the concepts involved in these series of changes which now are made available to many states and countries a s a theoretical basis for social mobilization.Reference:Deutsch, K.W. (1961). Social Mobilization and Political Development. The American Political   Science Review, Vol. 55, No. 3 (Sep., 1961), pp. 493-514

Contract Case Study Essay

1.Adams orders one thousand widgets at $5 per widget from International Widget to be delivered within sixty days. After the contract is consummated and signed, Adams requests that International deliver the widgets within thirty days rather than sixty days. International agrees. Is the contractual modification binding? Yes the contract modification is binding because both parties agreed to the modification before the widgets were delivered. When Adams requested the new shipping method and International agreed to the new terms. In problem 1, what effect, if any, would the following letter have? International Widget: In accordance with our agreement of this date you will deliver the one thousand previously ordered widgets within thirty days. Thank you for your cooperation in this matter. (signed) Adams The letter wouldn’t have any affect at all because the contract has already been modified by both parties and had been accepted. It would just be useful if for some reason one of the parties didn’t fulfill their part of the new contract. Browne & Assoc., a San Francisco company, orders from U.S. Electronics, a New York company, ten thousand electronic units. Browne & Assoc.’s order form provides that any dispute would be resolved by an arbitration panel located in San Francisco. U.S. Electronics executes and delivers to Browne & Assoc. its acknowledgment form, which accepts the order and contains the following provision: ‘‘All disputes will be resolved by the State courts of New York.’’ A dispute arises concerning the workmanship of the parts, and Browne & Assoc. wishes the case to be arbitrated in San Fran- cisco. What result The case would be arbitrated in San Fransico because the New York company agreed to their term of â€Å"Browne & Assoc.’s order form provides that any dispute would be resolved by an arbitration panel located in San Francisco† and they didn’t agree to modify the contract to change that. 2. Smith, having contracted to sell to Beyer thirty tons of described fertilizer, shipped to Beyer by carrier thirty tons of fertilizer, which he stated conformed to the contract. Nothing was stated in the contract as to time of payment, but Smith demanded payment as a condition of handing over the fertilizer to Beyer. Beyer refused to pay unless he were given the opportunity to inspect the fertilizer. Who is correct? Explain. Smith is  correct because Beyer contracted him to deliver the thirty tons of fertilizer, and like Smith stated is conformed the contract. Edwin sells a sofa to Jack for $800. Edwin and Jack both know that the sofa is in Edwin’s warehouse, located approximately ten miles from Jack’s home. The contract does not specify the place of delivery, and Jack insists that the place of delivery is either his house or Edwin’s store. Is Jack correct? In my opinion I don’t think jack is correct because it was not stated in a contract that the sofa was to be delivered to jacks home and even with him knowing the sofa was in the warehouse 10 miles away he still purchased the sofa. 6. On November 4, Kim contracted to sell to Lynn 500 sacks of flour at $4 each to be delivered to Lynn by December 12. On November 27, Kim shipped the flour. By December 5, when the shipment arrived, containing only 450 sacks, the market price of flour had fallen. Lynn refused to accept delivery or to pay. Kim shipped 50 more sacks of flour, which arrived December 10. Lynn refused delivery. Kim resold the 500 sacks of flour for $3 per sack. What are Kim’s rights against Lynn? Kim has no rights against Lynn because the order was never fulfilled on her part because Lynn never accepted the shipment of the remaining 50 sacks of flour on December 10. 1. Stein, a mechanic, and Beal, a life insurance agent, entered into a written contract for the sale of Stein’s tractor to Beal for $6,800 cash. It was agreed that Stein would tune the motor on the tractor. Stein fulfilled this obligation and on the night of July 1 telephoned Beal that the tractor was ready to be picked up upon Beal’s making payment. Beal responded, ‘‘I’ll be there in the morning with the money.’’ On the next morning, however, Beal was approached by an insurance prospect and decided to get the tractor at a later date. On the night of July 2, the tractor was destroyed by fire of unknown origin. Neither Stein nor Beal had any fire insurance. Who must bear the loss? Stein will have to bear the loss because even though he fulfilled everything he was suppose to do on the contract Beal never picked up the tractor for him and still had full possession of the tractor on the night of the fire. 7. Smith was approached by a man who introduced himself as Brown of Brown & Co. Brown was not known to Smith, but Smith asked Dun & Bradstreet for a credit report and obtained a very favorable report on Brown. He thereupon sold Brown some expensive gems and billed Brown & Co.  Ã¢â‚¬ËœÃ¢â‚¬ËœBrown’’ turned out to be a clever jewel thief, who later sold the gems to Brown & Co. for valuable consideration. Brown & Co. was unaware of ‘‘Brown’s’’ transaction with Smith. Can Smith successfully sue Brown & Co. for either the return of the gems or the price as billed to Brown & Co.? No he cannot sue for the gems because the items were sold to them as a third party and they had no affiliation with the person who went by Brown at all. 9. Brilles offered to sell his used automobile to Nevarro for $12,600 cash. Nevarro agreed to buy the car, gave Brilles a check for $12,600, and drove away in the car. The next day Nevarro sold the car for $13,000 to Hough, a bona fide purchaser. The $12,600 check was returned to Brilles by the bank in which he had deposited it because of insufficient funds in Nevarro’s account. Brilles brings an action against Hou gh to recover the automobile. What judgment? Brilles wouldn’t be able to get his car or money from Hough because the title was transferred over to him by Nevarro not brilles. Brilles would only be able to get his money back from Nevarro. 2. The Talent Company, manufacturer of a widely advertised and expensive perfume, sold a quantity of this product to Young, a retail druggist. Dentley and Bird visited Young’s store and Dent- ley, desiring to make a gift to Bird, purchased from Young a bottle of this perfume, asking for it by its trade name. Young wrapped up the bottle and handed it directly to Bird. The perfume contained a foreign chemical that, upon the first use of the perfume by Bird, severely burned her face and caused a permanent facial disfigurement. What are the rights of Bird, if any, against Dentley, Young, and the Talent Company, respectively? Bird has the right to go after both the Talent Company because they are the ones who made the perfume and are reliable for their products and young because they were the ones selling a product that they have not used and redeemed safe for their coustmers. 4. A route salesperson for Ideal Milk Company delivered a one- half-gallon glass jug of milk to Allen†™s home. The next day, when Allen grasped the milk container by its neck to take it out of his refrigerator, it shattered in his hand and caused serious injury. Allen paid Ideal on a monthly basis for the regular delivery of milk. Ideal’s milk bottles each contained the legend ‘‘Property of Ideal— to be returned,’’ and the route salesperson would pick up the empty bottles when he delivered milk. Can Allen recover damages from  Ideal Milk Company? Why? No Allen wouldn’t be able to recover anything from the milk company because there wouldn’t be enough proof that the milk container was faulty, even though it might have been 10. Plaintiff, while dining at defendant’s restaurant, ordered a chicken potpie. While she was eating, she swallowed a sliver of chicken bone, which became lodged in her throat, causing her serious injury. Plaintiff brings a cause of action. Should she prevail? Why? Yes she would prevail because the food is not s uppose to have bones in it, and the restaurant is going to have to be liable for their product and pay for the plaintiffs injury’s that she suffered from eating at the restaurant. 1. Mae contracted to sell one thousand bushels of wheat to Lloyd at $5.00 per bushel. Just before Mae was to deliver the wheat, Lloyd notified her that he would not receive or accept the wheat. Mae sold the wheat for $4.60 per bushel, the market price, and later sued Lloyd for the difference of $400. Lloyd claims he was not notified by Mae of the resale and, hence, is not liable. Is Lloyd correct? Why? Yes Lloyd is correct because he inform Mae that he didn’t want the bushels any more, which terminated the contract. Then when Mae didn’t deliver them she accepted that the contract was terminated. 9. Calvin purchased a log home construction kit manufactured by Boone Homes, Inc., from an authorized Boone dealer. The sales contract stated that Boone would repair or replace defective materials and that this was the exclusive remedy available against Boone. The dealer assembled the house, which was defective in several respects. The knotholes in the logs caused the walls and ceiling to leak. A support beam was too small and therefore cracked, causing the floor to crack also. These defects could not be completely cured by repair. Should Calvin prevail in a lawsuit against Boone for breach of warranty to recover damages for the loss in value? Yes Calvin would prevail in court because they stated that they would replace or repair defective material, and the material that Calvin received was defective and it cant be repaired so they have to pay for it to get it replaced or replace it them self’s. 16. Serve best contracted to sell Emessee two hundred thousand pounds of 50 percent lean beef trimmings for $105,000. Upon a substantial fall in the market price, Emessee refused to pay the contract price and informed Servebest that the contract was canceled. Servebest sues Emessee for breach of contract, including (a) damages for the difference between the contract price and the resale price of the trimmings, and (b) incidental damages. Decision? Servebest can only recover damages for no acceptance or repudiation because the buyer breached the contract. 1. Roy Rand executed and delivered the following note to Sue Sims: ‘‘Chicago, Illinois, June 1, 2011; I promise to pay to Sue Sims or bearer, on or before July 1, 2011, the sum of $7,000. This note is given in consideration of Sims’s transferring to the undersigned title to her 2002 Buick automobile. (signed) Roy Rand.’’ Rand and Sims agreed to defer delivery of the car to July 1, 2011. On June 15, Sims sold and delivered the note, without endorsement, to Karl Kaye for $6,200. What rights, if any, has Kaye acquired? Kaye has acquired the entire right of the money remaining on the note that Roy needs to pay for the 2002 Buick because Kaye became the bearer when he purchased the note from Slims. 7. Simon Sharpe executed and delivered to Ben Bates a negotiable promissory note payable to the order of Ben Bates for $500. Bates indorsed the note, ‘‘Pay to Carl Cady upon his satisfactorily repairing the roof of my house, (signed) Ben Bates,’’ and delivered it to Cady as a down payment on the contract price of the roofing job. Cady then indorsed the note and sold it to Timothy Tate for $450. What rights, if any, does Tate acquire in the promissory note? Tate would only acquire the promissory note if Cady fulfills his agreement with bates on repairing the roof, because if he does not finish repairing the roof he was never entitled to the check in the first place. 8. Debbie Dean issued a check to Betty Brown payable to the order of Cathy Cain and Betty Brown. Betty indorsed the check ‘‘Payable to Elizabeth East, (signed) Betty Brown.’’ What rights, if any, does Elizabeth acquire in the check? Elizabeth acquires all rights to the check because Betty indorsed the check to her when she wrote on the check â€Å"‘‘Payable to Elizabeth East, (sign ed) Betty Brown.’’ 4. Adams, who reads with difficulty, arranged to borrow $5,000 from Bell. Bell prepared a note, which Adams read laboriously. As Adams was about to sign it, Bell diverted Adams’s attention and substituted the following paper, which was identical to the note Adams had read except that the amounts were different: On June 1, 2011, I promise to pay Ben Bell or order Twelve Thousand Dollars with interest from date at 8 percent. This note is secured by certificate No. 13 for 100 shares of stock of Brookside Mills, Inc. Adams did not detect the substitution, signed as maker, handed the note and stock certificate to Bell, and received from Bell $5,000. Bell indorsed and sold the paper to Fore, a holder in due course, who paid him $10,000. Fore presented the note at maturity to Adams, who refused to pay. What are Fore’s rights, if any, against Adams? Fores has no right again Adams because the contract he signed was not the one they agreed upon and Bell took advantage of him because Bell knew Adams couldn’t see well and switched the contract to make him pay double of the loan with 8% interest. 9. Donna gives Peter a check for $2,500 in return for a laptop computer. The check is dated December 2. Peter transfers the check for value to Howard on December 14, and Howard deposits it in his bank on December 20. In the meantime, Donna has dis- covered that the computer is not what was promised and has stopped payment on the check. If Peter and Howard disappear, may the bank recover from Donna notwithstanding her defense of failure of consideration? What will be the bank’s cause of action? No the bank may not recover the money because the check has already been cashed in by Howard who has nothing to do with the transaction, if Donna had the check and dint cash it then th e bank would be able to stop the check and cancel it. 3. A negotiable promissory note executed and delivered by B to C passed in due course and was indorsed in blank by C, D, E, and F. G, the present holder, strikes out D’s indorsement. What is the liability of D on her indorsement? D would have no liability on the endorsement on the check given by A because his name was taken off the check, which made him not liable for the endorsement anymore. 6. Alpha orally appointed Omega as his agent to find and purchase for him a 1930 Dodge automobile in good condition, and Omega located such a car. Its owner, Roe, agreed to sell and deliver the car on January 10, 2011, for $9,000. To evidence the purchase price, Omega  mailed to Roe the following instrument: December 1, 2010 $9,000.00†¨We promise to pay to the order of bearer Nine Thousand Dollars with interest from date of this instrument on or before January 10, 2011. This note is given in consideration of John Roe’s transferring title to and possession of his 1930 Dodge a utomobile. (Signed) Omega, agent Smith stole the note from Roe’s mailbox, indorsed Roe’s name on the note, and promptly discounted it with Sunset Bank for $8,700. Not having received the note, Roe sold the car to a third party. On January 10, the bank, having discovered all the facts, demanded payment of the note from Alpha and Omega. Both refused payment. (a) What are Sunset Bank’s rights with regard to Alpha and Omega? (b) What are Sunset Bank’s rights with regard to Roe and Smith? Sunset bank would have no rights against omega; the bank could only reaccredit the money stolen from the stolen check and attempt to get the money back from Smith if they can find him. 10. R&A Concrete Contractors, Inc., executed a promissory note that identifies both R&A Concrete and Grover Roberts as its makers. On the reverse side of the note, the following appears: ‘‘X John Ament Sec. & Treas.’’ National Bank of Georgia, the payee, now sues both R&A Concrete and Ament on the note. What rights does National Bank have against R&A and Ament? National Bank has no right against R & A because they are not liable for the payments of the note; they also received full rights to the promissory note when they handed it over to National Bank. 9. Jason, who has extremely poor vision, went to an automated teller machine (ATM) to withdraw $200 on February 1. Joshua saw that Jason was having great difficulty reading the computer screen and offered to help. Joshua obtained Jason’s personal identification number and secretly exchanged one of his old credit cards for Jason’s ATM card. Between February 1 and February 15, Joshua withdrew $1,600 from Jason’s account. On February 15, Jason discovered that his ATM card was missing and immediately notified his bank. The bank closed Jason’s ATM account on February 16, by which time Joshua had withdrawn another $150. What is Jason’s liability, if any, for the unauthorized use of his account? †¨ Jason would have full liability on the unauthorized use of his account, and would be reaccredited from the bank on both the charges made by Joshua on February 15 of 1$1,600 and the second ATM  withdrawal made on February 16 of $150. 10. On July 21, Boehmer, a customer of Birmingham Trust, secured a loan from that bank for the principal sum of $5,500 to purchase a boat allegedly being built for him by A.C. Manufacturing Company, Inc. After Boehmer signed a promissory note, Birmingham Trust issued a cashier’s check to Boehmer and A.C. Manufacturing Company as payees. The check was given to Boehmer, who then forged A.C. Manufacturing Company’s indorsement and deposited the check in his own account at Central Bank. Central Bank credited Boehmer’s account and then placed the legend ‘‘P.I.G.,’’ meaning ‘‘Prior Indorsements Guaranteed,’’ on the check. The check was presented to and paid by Birmingham Trust on July 22. When the loan became delinquent in March of the following year, Birmingham Trust contacted A.C. Manufacturing Company to learn the location of the boat. They were informed that it had never been purchased, and they soon after learned tha t Boehmer had died on January 24 of that year. Can Birmingham Trust obtain reimbursement from Central Bank under Central’s warranty of prior indorsements? Explain. Birmingham trust wouldn’t be able to obtain reimbursement for the indorsement from A.C because the check was forged with their name, the bank could how ever reimburse them if it meets their requirements. 11. Lile, an insurance broker who handled all insurance for Tempo Co., purchased a fire policy from Insurance Company insuring Tempo Co.’s factory against fire in the amount of $1.5 million. Before the policy was delivered to Tempo and while it was still in Lile’s hands, Tempo advised Lile to cancel the policy. Prior to cancellation, however, Tempo suffered a loss. Tempo now makes a claim against Insurance Company on the policy. The premium had been billed to Lile but was unpaid at the time of loss. In an action by Tempo Co. against Insurance Company, what judgment? The Insurance Company would win because they are not responsible for the loss that Tempo suffered since they canceled the Insurance and did not were not paying for the liability insurance. 1. In January, Roger Burke loaned his favorite nephew, Jimmy White, his valuable Picasso painting. Knowing that Jimmy would celebrate his twenty-first birthday on May 15, Burke sent a letter to Jimmy on April 14 stating: à ¢â‚¬ ¨Dear Jimmy,†¨Tomorrow I leave on my annual trip to Europe, and †¨I want to make you a fitting birthday gift, which I do by  sending you my enclosed promissory note. Also I want you to keep the Picasso that I loaned you last January, and you may now consider it yours. Happy birthday! †¨Affectionately, /s/ Uncle Roger †¨The negotiable promissory note for $5,000 sent with the letter was signed by Roger Burke, payable to Jimmy White or bearer, and dated May 15. On May 21, Burke was killed in an automobile accident while motoring in France. †¨First Bank was appointed administrator of Burke’s estate. Jimmy presented the note to the administrator and demanded payment, which was refused. Jimmy brought an action against First Bank as administrator, seeking recovery on the note. The administrator in turn brought an action against Jimmy, seeking the return of the Picasso. †¨(a) What decision in the action on the note? †¨(b) What decision in the action to recover the painting? Jimmy would prevail in court because he was entitled both the painting and the money, when his uncle sent him the letter before he passed away stating that the Picasso & $5000 was a gift for his twenty-first birthday. 1. Kirkland conveyed a farm to Adland to have and to hold for and during his life and upon his death to Rubin. Some years thereafter, oil was discovered in the vicinity. Adland thereupon made an oil and gas lease, and the oil company set up its machinery to commence drilling operations. Rubin thereupon filed suit to enjoin the operations. Assuming an injunction to be the proper form of remedy, what decision? Rubin wouldn’t prevail in court because the oil and gas lease was made when Adland was the owner of the land and had the right to do what ever he pleased with the land until he passed away and had to pass it on to Rubin. 2. Smith owned Blackacre in fee simple absolute. In section 3 of a properly executed will, Smith devised Blackacre as follows: ‘‘I devise my farm Blackacre to my son Darwin so long as it is used as a farm.’’ Sections 5 and 6 of the will made gifts to persons other than Darwin. The last and residuary clause of Smith’s will provided: ‘‘All the residue of my real and personal property not disposed of heretofore in this will, I devise and bequeath to Stanford University.’’ Smith died in 2011, survived by her son Darwin. Smith’s estate has been administered. Darwin has been offered $100,000 for Black acre if he can convey title to it in fee simple. No, Darwin wouldn’t be able to receive the land Black acre from the will because his intention was to sell the land for $100,000 and  not use the land for farming. Which was a requirement under the will that Smith left and if he did not meet those requirements the land would be entitled to someone else stated in section 5 and 6. 7. In her will, Teresa granted a life estate to Amos in certain real estate, with remainder to Brenda and Clive in joint tenancy. All the residue of Teresa’s estate was left to Hillman College. While going to Teresa’s funeral, the car in which Amos, Brenda, and Clive were driving was wrecked. Brenda was killed instantly, Clive died a few minutes later, and Amos died on his way to the hospital. Who is entitled to the real estate in question? Amos, Brenda, and Clive, heirs would be entitled to their portions of the estate that they are receiving from the will in Teresa will, and the rest of Teresa’s will would be given to Hillmans College as stated in the will. 3. Robert and Stanley held legal title of record to adjacent tracts of land, each consisting of a number of five acres. Stanley fenced his five acres in 1986, placing his east fence fifteen feet onto Robert’s property. Thereafter, he was in possession of this fifteen-foot strip of land and kept it fenced and cultivated continuously until he sold his tract of land to Nathan on March 1, 1991. Nathan took possession under deed from Stanley, and continued possession and cultivation of the fifteen-foot strip that was on Robert’s land until May 27, 2011, when Robert, having on several occasions strenuously objected to Nathan’s possession, brought suit against Nathan for trespass. Explain whether Nathan has gained title by adverse possession. Nathan would not prevail in court because the land is owned by Robert and the contract that he had with Stanley was established for them in 1989 and not to Nathan who took over the land on March 1, 1991. 5. On January 1, 2011, Davis and Hershey owned Black acre as tenants in common. On July 1, 2011, Davis made a written contract to sell Black acre to Gregg for $25,000. Pursuant to this contract, Griggs paid Davis $25,000 on August 1, 2011, and Davis executed and delivered to Gregg a warranty deed to Black acre. On February 1, 2012, Hershey quitclaimed his interest in Black acre to Davis. Gregg brings an action against Davis for breach of warranty of title. What judgment? Davis would prevail because he sold him the entire land and not just his portion of Black acre even though he was not entitled to the land  in full. Since Hershey owned a portion of the land the contract needed Hershey’s signature for it to be valid. 8.The city of Boston sought to condemn land in fee simple for use in constructing an entrance to an underground terminal for a subway. The owners of the land contend that no more than surface and subsurface easements are necessary for the terminal entrance and seek to retain air rights above thirty-six feet. The city argues that any building utilizing this airspace would require structural supports that would interfere with the city’s plan for the terminal. The city concedes that the properties around the condemned property could be assembled and structures could be designed to span over the condemned property, in which case the air rights would be quite valuable. Can the city condemn the property? No the city can not condemn this property because they only have the right to the land below the surface if they want to build the entrance 36 feet in the air they would need to get the air rights from the owner. 3. Collins was trustee for Indolent under the will of Indolent’s father. Indolent, a middle-age doctor, gave little concern to the management of the trust fund, contenting himself with receiving the income paid him by the trustee. Among the assets of the trust were one thousand shares of ABC Corporation and one thousand shares of XYZ Corporation. About two years before the termination of the trust, Collins, at a fair price and after full explanation to Indo- lent, purchased from the trust the ABC stock. At the same time but without saying anything to Indolent, he purchased the XYZ stock at a price in excess of its then market value. At the termination of the trust, both stocks had advanced in market value well beyond the prices paid by Collins, and Indolent demanded that Collins either account for this advance in the value of both stocks or replace the stocks. What are Indolent’s rights? Indolent would only have rights to the XYZ stock because he purchased those stocks with out the any ones permission. In the case of the ABC stock he would not receive anything back because he sold the stock at a fair price to Collins. Upon George Welch’s death, he was survived by his second wife, Dorothy Welch, and his daughter by his first marriage, Patricia Fisher. At the time George and Dorothy were married, George was in  very poor health and he relied on Dorothy to care for him. During the eight months George and Dorothy were married, George became isolated from his family and his health deteriorated. Prior to his death, George transferred the bulk of his assets to Dorothy. Dorothy assisted in the transfer of George’s assets and often completed checks and other papers for George’s signature. George also made a new will that named Dorothy as his sole beneficiary. Patricia was the sole beneficiary of his prior will. Through the transfers of assets and the new will, Dorothy received $570,000. Does Patricia have any legal recourse? Explain. No Patricia does not have any legal rights because everything transferred to Dorothy’s name was done with the consent of George, and everything i n the will was left to Patricia according to Georges new will.