Austrailain Law - Business Law report Essay Example | Topics and Well Written Essays - 2000 words

Austrailain Law - Business Law report - Essay Example The case examples highlight important elements required for promissory estoppel to be applicable. Keywords: Promissory estoppel, detriment. Content Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Promissory estoppel†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.4 Collier v P&M J Wright (Holdings)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Collier v P&M J Wright case review†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..5 D & C Builders V Rees†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 D & C Builders V Rees case review†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 Introduction Estoppel in law implies to stop or bar a person from denying matters or truths that he/ she expressly or impliedly stated (Sharma 1994). Promissory estoppel can therefore be defined as legal doctrine that bars a person from making a promise and then withdrawing it at a time when a second party has reas onably acted upon the promise to their detriment (Spence 1997). If an individual makes a statement that causes a second party to act in a particular way, then that person will be â€Å"estopped† from denying the truth (Spence 1997). In order for promissory estoppel to hold, the promise or statement made must be reasonable. The statement must also be unequivocal; meaning that there is no element of ambiguity in it. In Australian law, the doctrine holds even if the parties did not have any preexisting relationship. The doctrine stipulates that it is necessary for the promisee to act to their detriment for it to hold. Promissory estoppel was established back in the 19th century in the English Law Courts. The case involved Metropolitan Railway Co v Hughes in the year 1877 (Cartwright 2006). The doctrine is especially important to the business world since it ensures that individuals are compensated if they incur losses when they act based on promises delivered by others. Australia n law adopted promissory estoppel doctrine in the case of Legione v. Hateley, 1983 (Nolan 2000). In that case, the plaintiff had sued the defendant after he rescinded the contract on sale of land, which had already come to pass. The plaintiff had asked for more time to pay the balance he owed. Promissory estoppel usually applies in business dealings. It is meant to protect those who act upon statement and promises and in the process experience a disadvantage or detriment. In Australian law, the doctrine is enforceable under certain conditions. These may include dishonesty from the person who makes a promise, presence of a contractual relation between individuals, or where a person has duty of information. It is important to note that there are some limitations on the doctrine of estoppel. As mentioned earlier, the doctrine holds only when the statement or promise made is of a factual nature. The other limitation is that the doctrine does not hold for promises meant to be fulfilled i n the future (Cartwright 2006). Promissory estoppel In simple contracts, a person may be able to break an agreement and cause injury to others. This doctrine ensures that the promisee is held liable for his words. Promissory estop

Literary analysis focusing one analysis discussed in class in relation Essay

Literary analysis focusing one analysis discussed in class in relation to a selected short story - Essay Example Because of his dashed dreams of chivalry, he realizes what reality mean everyday for working-class and poor families. â€Å"Araby† depicts that the innocence of childhood is a short-lived illusion because adults know that reality is full of falsehood and broken dreams. The images and irony in the story convey the difference between reality and delusions that children eventually learn to differentiate as they mature. The boy conjures images and feelings to exhibit his love for Mangan’s sister, but these emotive representations expose his inexperience with love: â€Å"†¦her name was like a summons to all my foolish blood† (Joyce). Summons pertains to a call made by the authority. The boy thinks that his beloved has become the authority of his being, when he knows that this love is an unrequited one, thereby most likely resulting to a disaster. As a child, however, he does not think of these consequences. Nevertheless, dramatic irony occurs when the boy feels t hat he has matured because of this love, when in reality, the effects of his love prove his immaturity: â€Å"I had hardly any patience with the serious work of life which, now that it stood between me and my desire, seemed to me child's play, ugly monotonous child's play† (Joyce). ... y†: James Joyce and Irish Orientalism,† Bongiovanni argues that the fascination for the Orient in the story signifies the need of the Irish to be distracted from â€Å"oppression by the English, but also from the rigid control of the Catholic Church† (26). The boy and his family are Irish but they are interested in Oriental literature. For instance, his uncle knows The Arab's Farewell to his Steed. This is an example of the need of the Irish to escape the social and religious controls of their lives. While boys are dealing with puppy love, adults struggle with something more deeply immobilizing- their loss of freedoms and autonomy. Aside from these images and irony, the unoccupied house stands for the seer, the moral code of Christianity that looks over and judges its believers. Snart, in â€Å"Detached and Empty: Subtexts of the Unoccupied House in James Joyce's â€Å"Araby,†Ã¢â‚¬  asserts that the detached house is not the boy and his emptiness. Instead, the house represents the â€Å"self-scrutinizing gaze of his Catholic surroundings† (91). The boy feels the same gaze, but not in the adult sense. As a child, he looks inward in a different way, where he internalizes his admiration for an older girl. But as soon as reality hits him, he discovers a painful truth about life: it is not always what people would want it to be, and most of the time, it turns out for the worst. When the salesgirl talks about a â€Å"fib† and looks at the boy, Papi underlines that the child’s fantasy does not conform to the truth (4). In other words, the boy’s chivalrous feeling of bringing something nice for his love foreshadows a mournful disappointment. He sets his expectations too high, and in the end, he fails not only his crush, but most of all, himself: â€Å"I saw myself as a creature

Challenges and Influences on The Salvation Army

Challenges and Influences on The Salvation Army THE SALVATION ARMY Introduction Background Hi, this assessment unit is 27763 about Analyze the impacts of influences and assesses their consequences for an organisation. The nonprofit Maori organization I have chosen is The Salvation Army. This organization has overcome poverty and spiritual pain in New Zealand. Its been helping more than 120,000 families and individuals in need each year-with budgeting advice, food and clothing assistance, life skills programs and other comfort and support. We are committed to our mission of caring for people, transforming lives and reforming society. Full-time officers and employees, along with soldiers (church members) who volunteer their skills and expertise, provide their social and church-based services. Our Army has over 3000 officers and employees in New Zealand, Fiji and Tonga and is recognized as a high value employer. Our Army is a registered charity under the Charities Act 2005, registered number CC37312. This means we are freed from income tax. We are giving quality care and supp ort for needy people in their own homes. Influences: Â   Â   Internal Influences- i) Skills Skills are one of the important factors of an organization. We have highly trained and professional staff members providing their best efforts where needed with their skills. As it is a helping organization, we create a healthy and helping atmosphere in the organization if we are or not at work. We provide valuable skills through its unique training, employment and support services centers. ii) Staff Our army staff officers have worked as missionaries in many countries. Most recently, our army officers set up corps in Fiji since 1973 and Tonga in 1986. We have a large number of trained and experienced staff from different parts of world which shows the talent and co-operation among our staff. iii) Structure Our administrative structure of The Salvation Army can best be described by following diagram. iv) System We are updated to the new ways and technology which is affordable and beneficial for our purpose and goals. We know that we have to be always ready for any emergency for good running of the organization so we always the new technology, machines, staff according to our need. v) Shared values We are the best examples of the shared values. All Salvation Army worship services are open to everyone. We affirm that racial and multicultural combination of believers is desirable and reasonable. Faith in Christ Jesus is what makes each person equal with each other, whether a person is a Jew or a Greek, a slave or a free person, a man or a woman. The Salvation Army is intentional in its efforts to incorporate different styles of worship to meet the specific needs of its increasingly diverse organizations. External Influences: vi) Social Our programs of social work among the homeless, unemployed, addicted and other needy people were the most visible aspect of its work in the 21st century. Moving away from our earlier, strongly independent attitude, our Army worked closely with government agencies and other organizations. We also addressed the causes as well as the effects of social hardship, and regularly advised and pushed the government on policies that affect the most weak in society. Recently, the Salvation Army gave their contribution in Nepal Earthquake and did a good job working three days in Nepal after the disaster. vii) Economic Now talking about the economic, we are well known for our economic contribution to the economy by network of Thrift Stores or Charity Shops, which raise money for its rehabilitation programs by selling donated used items such as clothing, housewares and toys. The Salvation Army has a history of free therapy from alcohol and drug abuse. Thrift stores provide the revenue to run the Adult Rehabilitation Centers known as ARCs. The ARCs, found in many global locations, are work and Bible-based operating with the 12-step program, and offer residential facilities which helps in economic condition of the country. viii) Political Moreover, talking about the politics, as an international Christian church and charitable organization, we work within a wide variety of political and social backgrounds. We are not supported by political parties. Although it pursues to influence governmental and public affairs, it will not promote or approve specific candidates or political parties. ix) Technological In extent to this talking about the technological factors, we have improved business processes including the management of finance, supply chain, asset and property management not only to overcome fragmentation of information but also to speed up the flow of information. Now, passersby can donate not only to the traditional workers with bells and buckets, but they can also swipe their credit cards, or simply enter their card information on a volunteers phone. Salvationists would receive Android smartphones donated by Sprint, outfitted with the square mobile card reader, and contributors can donate directly to the Armys account. x) Legal We are legally registered and secured and we are not interfered by any political parties so we do not have any worries about any issue if we keep on doing our job like we are doing now. xi) Environment In contribution to environment. The implications of our Environmental use of natural resources on current and future generations has to be considered and action taken to report this. The consequences of such use often have a greater impact on poorer nations, resulting in increased poverty. Furthermore, we are Promoting and resourcing work to minimize any negative environmental impact of its activities, Aligning work to the wider sustainability plan, The use of ethically sourced goods wherever possible, Reducing waste and increasing recycling. Impacts Opportunities Opportunities for the skills will be the new ideas for projects like positive lifestyle programme, parenting programs and surveys. We will give a rise to our staff by giving them bonus when they do a great job and promotions wherever needed. Moreover, salary is increased after every 6 months. This will be the opportunity for our staff. Our skills are the main key of our healthy running organization because we are doing our best with our skills for the organization. Our experienced and trained staff do their best where they are needed by their abilities. Our organizational structure and distribution of jobs is organized in the best manner by our Human Resource Management team. Our systems are up to date and it is helping the organisation by their proper use. We have an experienced multicultural staff from different parts of world in the organization which creates a positive environment in the staff to work smoothly without any discrimination and it makes a peaceful environment. We are not politically being interfered so we do not have any issues with politics. We are economically contributing in the economy by our mission and work done by us. We are socially attached and understand the conditions of needy persons so we are a socially reputed organisation. We always adopt the new technology in our use which helps us as well as the person we are helping so it is a good symbol for us. We are legally registered and secured so we do not have any worries about any issue if we keep on doing our job like we are doing now. We are environmentally helpful because we do not use or do any work which harms the environment so we are eco-friendly. These are the opportunities for our healthy running organization. Threats If an employees relation is not good with staff or feel insecure he/she might be able to case a file of physical/sexual/mental harassment or can do strikes and can disturb the confidentiality of the organisation. Sometimes there is hidden racism or partiality takes place in the working environment of the organization and it leads to the bad atmosphere within the organization and it will take the organization downwards and its the main impact on our shared values. As we all know, human does not have control on nature, so if anything goes wrong like earthquake, tsunami, and storm so we cannot do anything in that case, so it is a natural threat. People are what we working for, but sometimes we dont know what people want and think about us, so we can get negative feedback about us or may give us a negative response. We are legally approved working organization on a large scale, in case in future if there are some legal rules regulation changes that can be a major threat. As we are worki ng in a nonprofit organization with the latest use of technology, in future there might be some heavy technological change which we cannot afford easily or make in use of our organization then it will be a threat. We are politically not interfered by the politics or politicians but as we are working best on our goals, some political parties or politicians may get jealous of us or may not want to see our organization rising, they may be able to do some things which can make a bad issue against our organization. As we are contributing towards the growth of the economy and organization as well, there can be some changes in the tax rates or the policies which may not be in the favor of the organization. Consequences Skills are leading to the growth and development of the organization as well as the goodwill of the organisation by adopting new programs, projects and surveys. Our staff is now more comfortable while working with the new policies in favor of them by increasing their pay rate, and promotions. Now there is a positive atmosphere within the staff while their working hours. Our organisational structure is organized in a matter that makes our organisation a strong healthy working organisation. Our system is upgraded that it makes our organisation more advance and reachable wherever we are needed. Now we have more record of data and we are known where we are needed. Our shared values are very strong and our staff is proactive and they believe that they now have more knowledge of culture and talents of other parts of the world from their colleagues working together with them. We have no negative relations with the political parties as we are not politically interfered. Now we are economical ly highly strong that we have enough resources and assets for us. Our technological factors and our systems are so advanced that it is being the most helpful and giving a push to the organisation for its organisational work. As we are an environmental friendly organisation, we have contributed for some good causes for the organisation and we have achieved some honorable awards with our good work. As a result, we are working towards our goals in the best way and we are getting the positive results for that. Recommendations I recommend that we should always keep doing some efforts like surveys, seminars so that it will improve our organisational skills. Organisation should keep on hiring new talent and staff according to the need and changes in the organisation and when old staff which is no longer available to work should be retired with honor. For system, I recommend that there should not be any unawareness about the new systems as we have to be updated with our day to day operations. Our shared values should be same as present as our staff is working in a positive atmosphere and it is further needed in our organisation. We should not do any activity or take any step which makes us politically interfered in future so we have to be aware about that. There should not be any misuse or theft in the organisational money inside or outside the organisation as all the employees are getting reasonable pay for their work. For technology, there should not be any misuse or theft in the organisation of any technol ogical equipment and soft wares. I recommend that there should be more CCTV cameras and security options for the internal organisation. As we are doing well, we need to keep that carry on by not doing any illegal work by which our organisation have to face problems in the future. We need to be more careful about the environmental contribution because it the environment is good then we will be able to work otherwise not. References www.salvationarmy.org.nz www.educationandemployment.co.org www.wikipedia.com

Science of Flavors :: essays research papers

Abstract:  Ã‚  Ã‚  Ã‚  Ã‚  The flavor of food is what compels us to eat certain items. The taste sensations of different food combinations are at time mesmerizing. The restaurant industry has long been based on tending to the need of the consumer, feeding them good food. As economic times change, there are more appearances of chain casual dining restaurants. Consequently, the change brought a need of consistency of food products. Food science is a field where the study of people and food. The field has been contributing immensely to the successful expansion of the chain restaurant industry. The science of flavor has proven to be extremely marketable and flavorful. Science of Flavors And the Restaurant Industry   Ã‚  Ã‚  Ã‚  Ã‚  The restaurant industry has long been established on the service of good food. Stand alone restaurants bringing the fine and new flavorful cuisines are very hard to come by nowadays. The massive trend of chain casual dining restaurants is in effect, and it does not seem to be slowing down. Since the chain system of restaurants works on brand recognition there is a standard system for every aspect of the restaurants niche that each establishment must follow. In addition, since these casual dining establishments work on a volume base commission, they need to produce good food, fast; furthermore, each dish needs to be the same every time. The consistency of the food throughout every chain establishment produces a problem in the casual dining nation, which is why all the franchises are turning to the science of food; in other words, food science. Food science has been producing phenomenal feats throughout the restaurant industry. The study of food and people’s perception of flavors has proven to be very marketable throughout the casual dining sector. The Science of Flavors First and foremost an diminutive understanding of flavor is necessary. Flavor is a complex mixture of sensory input of the food being eaten. The composed sensory input is: taste (gustation); smell (olfaction); tactile sensations; and visual sensations. Although people may use the word â€Å"taste† to mean â€Å"flavors† in the strict sense it is applicable only to the sensation arising from specialized taste cells in the mouth. Those taste cells are the taste detectors distributed all throughout the tongue. The taste detectors are specialized configurations commonly referred to as taste buds. (Margolskee, Smith 2001) Usually the first step in food consumption and much of food’s flavor is perceived through the olfacotory impression on the mind.

Research & Writing Memo

Student ID # 105228 5/30/2009 We can probably show that Brett arrested Jane. Arrest is an element of false imprisonment. Arrest means confinement against one’s will. An arrest can be affected through physical constraint as well as through personal coercion (its equivalent). When a store employee detains something of value that a reasonable patron would not leave without, the patron has been coerced and thus arrested. In this case, because Brett took Jane’s dog (something no reasonable person would leave behind), Jane was likely arrested. The elements of false imprisonment are intent to confine, arrest, and consciousness of confinement.In Moore v. City of Detroit, 252 Mich. App. 384, 652 N. W. 2d 688 (2002), the court held that an action for false imprisonment can be maintained without alleging a false arrest involving government law enforcement. The court reasoned that the employee was not actually confined or restrained for any significant period of time which is requi red in satisfying a false imprisonment claim. The court stated that even if the employee had been locked in some enclosure, the confinements were momentary and fleeting or too brief and therefore insufficient to satisfy false imprisonment.An arrest must be against the will of the person confined; a patron who voluntarily follows a store employee back into the store is not arrested. In Bruce v. Meijers Supermarkets INC. , 34 Mich. App. 352, 191 N. W. 2d 132 (1971), a customer was shopping at Meijer’s in Lansing Michigan. Customer places two pairs of panties in her cart and continues shopping. Customer then places both pairs of panties on a counter other than where she found them. Customer checked out with the cashier. Customer leaves the store. Unidentified man approaches the customer.Unidentified man asks customer where she put the unpaid for panties which the man had seen in her cart while in the store. Customer assumed that the unidentified man was an employee of the store. Unidentified man repeatedly asked customer to return to the store. Customer was feeling ill. Customer wanted to leave. Customer said her children would be coming home for lunch. Customer voluntarily opened her purse and her clothing to prove that she did not take the panties. Customer estimates that she had been questioned for approximately five minutes. Customer voluntarily follows the man back inside the store.Customer quickly finds the panties lying on the counter adjacent to the lingerie display. Customer leaves store without further ado. The court held that no arrest was made and false imprisonment cannot have occurred without an arrest. The court reasoned that nothing was being done to indicate that she was being taken into custody, or that she was being held for delivery to a peace officer to answer a criminal charge. Given what the unidentified man observed (customer placing the panties in her cart), entitled the unidentified man; acting as an agent of the owner, the right to question the customer.The customers’ voluntariness in following the man back into the store illustrates that her actions were carried out willingly & knowingly and shows no signs of manual seizure or coercion. Therefore the customer was not arrested. Like the customer in Bruce, Jane voluntarily followed the store clerk back into the store. However in our case, Jane had been purposely and knowingly coerced into her decision whereas the actions by the customer in Bruce were done willingly. For an arrest, there must be a manual seizure or its equivalent in some sort of personal coercion.Coercion means acting against the will of the customer. If there is no coercion, there is no arrest. The store clerk seized Jane’s dog (something of value), leaving Jane no choice but to follow. Unlike the case in Bruce, Jane’s actions were against her will and were therefore coerced. When a store employee detains something of value to a patron and the item detained is something a reasonable person would not leave without, the patron has been detained. In Clarke v. K Mart Corporation, 197 Mich. App. 541, 495 N. W. d 820 (1992), a customer and her two small children were shopping at K Mart in Grand Rapids, Michigan. Customer purchased a set of bed sheets among other things. The cashier accidentally rang up the sheets twice. Cashier set sheets aside and voided the second transaction. Cashier placed sheets into customers’ bag. The cashier supervisor observed only the sheets being placed in the customers’ bag. Cashier supervisor did not notice the sheets being rung up. Cashier supervisor along with another co-supervisor approached customer.Customer claims the co-supervisor snatched the bag out of her hand. Co-supervisor alleges he took the bag out of the customers shopping cart. The supervisors confiscate $250 worth of purchased goods and notify the customer that they will be performing a routine package check. Customer was detained for ten or fif teen minutes. Supervisors gave $10 to customer for her inconvenience. The court held that by confiscating the $250 worth of purchased goods; the customer had been coerced into staying inside the store for 10 or 15 minutes and was therefore detained.The court reasoned that if a store owner, without any privilege, purposely prevents a customer from leaving by means of taking something of value from the customer and that customer reasonably remains in the store solely for the valuables, than that customer has been confined and therefore detained. Similar to our case at hand, both Jane as well as the customer in Clarke had been confined through the detainment of personal valuables. In Clarke, the detainment of expensive bed sheets ($250) proved to be enough coercion to satisfy a confinement.In our case however, it was Jane’s dog that had been detained. Now, although it may be impossible to value the dog at any specific dollar amount, any patron willing to purchase a dog will most likely view the purchase as an investment rather than a burden. On the other hand, the defense will argue that owning a dog may be more of a liability than asset because maintaining a dog is expensive and by detaining the dog, Jane would be better off financially. The defense may have a valid argument, yet a dog is not an inanimate object; it is a pet.Accordingly, if a customer won’t leave without their bed sheets as in Clarke, than certainly a customer will not leave without there pet. Any reasonable patron understands that a dog is a living creature and has feelings just as humans do. Any reasonable dog owner can understand the impact a pet can have on a person’s life and thus love their pet as if it were their own child. Obviously, it would be unconscionable to think that a reasonable person would leave their dog behind; they would act as Jane did.Jane’s decision to go back into the store was clearly against her will and was therefore coerced. An arrest can be affected either through physical constraint or personal coercion that is the equivalent of physical constraint. In Tumbarella v. Kroger Co. , 85 Mich. App. 482, 271 N. W. 2d 284 (1978), two police officers approached a customer who was also an employee for the store. The security officers asked customer where the money was. Customer indicated that she did not know what they were talking about. Officers then made menacing gestures toward the customer.Customer felt as if she was taken in custody. The officers’ threatened the customer with prosecution and jail. Customer felt restricted in her freedom both expressly and impliedly. The court held that the customer may seek nominal damages even if the officers had probable cause to believe the customer stole money from the store. The court reasoned that even if a shopkeeper suspects a person of taking without permission, the customers shoplifting does not give the shopkeeper the absolute privilege to detain the suspected shoplif ter.

Intro to finance Essay

Question 1 (5 points) Qin deposits his first paycheck in the bank. The annual interest rate is 12%, but interest is compounded quarterly. The EAR is: 12.00 12.55 12.68 12.44 Question 2 (5 points) Gloria is 35 and trying to plan for retirement. She has put a budget together and plans to save $4,800 per year, starting at the end of this year, in a retirement fund until she is 65. Assume that she can make 7% on her account. How much will she have for retirement at age 65? 499245 144000 453412 345514 Question 3 (5 points) Dominique has just turned 65 and she has deposited her annual payment of $20,000 into her retirement account. She made her first such saving deposit into this fund on her 35th birthday. Dominique has also retired and wants to figure out how much money she has in her retirement account for her retired life. You are Dominique’s friend who knows finance. How much is Dominique’s savings worth today given that the fund has earned an annual return of 5.5%? (Enter just the number without the $ sign or a comma; round off decimals.) Answer for Question 3 Question 4 (5 points) Gerard has estimated that he is going to need enough in his retirement fund to withdraw $75,000 per year beginning on his 66th birthday and for 19 additional years thereafter. How much will Gerard need in his retirement account at age 65 if his fund is expected to earn an annual return of 9.5%? 995733 660929 1500000 644324 Question 5 (10 points) Rachna is considering a life insurance plan that will require her to pay a premium of $200 every year for the next 40 years. She wants to make sure that she is able to make this payment and wants to put away a lump sum today in her bank to cover all future payments. How much would she need to deposit in her bank if the annual interest rate on her deposit account is 4%? (Enter just the number without the $ sign or a comma; round off decimals.) Answer for Question 5 Question 6 (10 points) Roxanne is in the market for a new house, and she has found a house she likes that is selling for $250,000. The down payment on the house is 20% (the amount that the bank should require you to pay in cash) and Roxanne plans to finance the remainder with a fixed rate mortgage. The annual rate is 6% and the mortgage is for 15 years, though payments are monthly. What is the interest component of Roxanne’s first monthly payment? 1000 900 800 1100 Question 7 (15 points) Baako has invested $75,000 in a trust fund at 9% for his child’s college education. His child will draw $30,000 per year for four years, starting at the end of year 7. What will be the amount that will be left over in the education fund at the end of year 10 (just after the child has withdrawn the fourth time)?(Enter just the number without the $ sign or a comma; round off decimals.) Answer for Question 7 Question 8 (15 points) Jingfei bought a house 10 years ago for $200,000. Her down payment on the house was the minimum required 10% at that time she financed the remainder with a 15-year fixed rate mortgage. The annual interest rate was 10% and she was required to make monthly payments, and she has just made her 120th payment. A new bank has offered to refinance the remaining balance  on Jingfei’s loan and she will have to pay $1,900 per month for the next 5 years, but the total fees she will have to pay today to get the new loan is $1,000. Should she take the new offer? How much will she gain or lose in today’s dollars if she does? Annual interest rates are still 10%. (yes, gain 324) (yes, gain 712) (no, loss 614) (no, loss 712) (yes, gain 614) (No, loss 324) Question 9 (15 points) You have been living in the house you bought 10 years ago for $300,000. At that time, you took out a loan for 80% of the house at a fixed rate 15-year loan at an annual stated rate of 9%. You have just paid off the 120th monthly payment. Interest rates have meanwhile dropped steadily to 6% per year, and you think it is finally time to refinance the remaining balance. But there is a catch. The fee to refinance your loan is $4,000. Should you refinance the remaining balance? How much would you save/lose if you decided to refinance? (yes, gain 4053) (yes, gain 3300) (no, lose 2331) (yes, gain 4647) (no, lose 2300) (no, lose 1323) Question 10 (15 points) You are interested in a new Ford Taurus. After visiting your Ford dealer, doing your research on the best leases available, you have three options. (i) Purchase the car for cash and receive a $1,500 cash rebate from Dealer A. The price of the car is $15,000. (ii) Lease the car from Dealer B. Under this option, you pay the dealer $500 now and $200 a month for each of the next 36 months (the first $200 payment occurs 1 month from today). After 36 months you may buy the car for $8,000. (iii) Purchase the car from Dealer C who will lend you the entire purchase price of the car for a zero interest  36-month loan with monthly payments. The car price is $15,000. Suppose the market interest rate is 6%. What is the net cost today of the cheapest option? (Enter just the number without the $ sign or a comma; round off decimals.Since this asks for a cost, you just enter the number without a negative sign.)