Legal Rules Contract - Free Essay Example

Sample details Pages: 7 Words: 2124 Downloads: 10 Date added: 2017/06/26 Category Law Essay Type Case study Did you like this example? Offer and Acceptance With reference to the legal rules relating to offer and acceptance of a contract, advise the club whether it can claim the joining fee from Mary, Frank and Ali. Mary posted her application. She telephoned the club to confirm whether or not her application was accepted but was unable to get through to speak to anyone. Don’t waste time! Our writers will create an original "Legal Rules Contract" essay for you Create order In the meantime the committee took two months to confirm whether or not they would accept her application based on a character investigation. In accordance with the legal stipulations of offer and acceptance Mary is under no obligation to pay her joining fee for a number of reasons. Although she returned her application form the offer of membership was not formally accepted as she failed to contact the club secretary when she was told to telephone. This meant that she wasnt provided with an answer to the outcome of her application, the time of which was made very clear in terms of when she needed to do this by yourselves. Legally an agreement is reached when an offer by one party is unequivocally accepted by the other. Which did not occur. You do not confirm whether the club actually wrote to Mary in September when the decision was made to accept her. If this was not done and payment was merely requested on the basis that Mary Jones had been granted membership, once again she w ould not be liable as Australian Law dictates that a person cannot accept an offer of which he/she has no knowledge. And considering the club waited over two months to inform Mary, she had no understanding that she had ever been considered in the first place. Additionally silence cannot be construed as acceptance. The club was not within its rights to assume that Mary would accept the offer, having failed to communicate with them by telephone and not receiving confirmation until several months after the membership cut-off date. In the English case of Felthouse and Bindley, the courts ruled against Felthouse who had considered the horse he had acquired for his own, on the basis that his Nephew had not written to confirm otherwise. He lost the case because the court confirmed there had been no acceptance of a contract. Franks case is similar in that he never contacted the club secretary to confirm his membership, therefore no official acceptance was made. In addition he had stip ulated in writing that his terms of agreement were related to gaining a contract of work from the club. Because this written condition was not agreed to, Frank was within his rights not to have to pay for membership. Additionally and somewhat ironically correspondence with offer, or the mirror image rule states that if you accept an offer it must be accepted exactly as it is offered, without any modifications. This being the case Franks offer had already turned into a null and void counter-offer as soon as he wrote the condition of interest, on the understanding that he would receive a contract of work by way of membership. The mirror image rule states that if you are to accept an offer, you must accept an offer exactly without any modifications; if you change the offer in any way, this is a counter-offer that invalidates the original agreement. Once again no formal agreement has been instigated by Ali as he failed to contact the secretary to discuss or accept membership. He w ould have assumed that his membership was disregarded as it was late and he never received written confirmation. However his assumption of failure to be invited to membership may not be enough in terms of rendering Ali not culpable. When he posted the letter he was in effect accepting the offer. Likewise although the letter of agreement never found its way to him it was physically sent by the club. Ali also followed up his request to apply for membership over the telephone, thus legitimizing his desire to join. By law if an offer is accepted by post, the contract becomes valid at the time it was posted. As with the well documented case of Adams v Lindsell, which determined that a posted acceptance is contractually binding. But it did arrive after the stated and agreed deadline which would no doubt make him non eligible for payment of membership fees. Suppose that Tony is determined to take Court action and is looking for cases to support his arguments. Identify ONE case tha t may help support Tonys demands that he be accepted as a member to the club and explain to him, with reasons, how a Court in your state of Australia is likely to treat this previous case. As part of your answer you should discuss what parts of the case are important and what parts are not. With regard to your contesting the outcome of the Tennis Club to accept you as a member. Bearing in mind that you sent your letter well within the deadline date for which membership would be considered; only to be refused on the basis that your application arrived late due to a postal strike, there may be a case for us to adopt the approach of the Postal Acceptance Rule. This is an exception in law to the principal that the offeree (In this case yourself) communicates your acceptance to the Offeror. (The Country Tennis Club). In this instance acceptance is granted when the letter stating acceptance is actually posted and not when it is received by the offeror. The most famous case for de termining this law was by way of Adams vs Lindsell in 1818. Lindsell (the defendant) wrote to Adams (the plaintiff) to make him an offer of some wool and asked for an agreement for this sale to be issued by return of post which Adams provided. However Lindsells original letter arrived late as he managed to address it incorrectly. Thus Linssell automatically assumed that his offer had been rejected having waited so long for a response. He consequently decided to sell the wool on to another buyer. The problem arose as this exchange took place after Adams had already replied to say that he would indeed buy the wool and he was expecting to receive it. The court in this case ruled in favour of Adams and it was deemed that the date of agreement was made from when he posted the letter back requesting the wool and not when it arrived, which was in this case too late. This has a striking resemblance to your own situation. The court imagined that this would elevate the issues concern ed when each individual is waiting for a receipt of confirmation, which can hinder business. The law has been criticized for having ulterior motives that were connected with publicizing the post office in the nineteenth century, although it does seem feasible that it was a law passed to aid the practicalities of business efficiency. But it does place the offeror in a vulnerable situation as they are often bound by contract without even being aware of it. This is not a completely straightforward law as it does only apply to acceptances and no other type of communication and only where it is reasonable that this acceptance needs to be made by post. This makes a good case for you against the club as you were responding to their requests. Saying that this particular rule can always be displaced by the offeror if they request that the offer takes a specific form, for example a speedy reply or a deadline, which means it cannot take effect on arrival as the deadline has passed. Which ma kes your case unfounded. However what is stipulated in this law as reiterated in the case of Henthorn v Fraser Where the circumstances are such that it must have been within the contemplation of the parties that, according to the ordinary usages of mankind, the post might be used as a means of communicating the acceptance of an offer, the acceptance is complete as soon as it is posted is the need for the offeror to consider what is reasonable to expect in the case of making an offer available. In other words it is very conceivable that the Tennis club will be liable by way of neglecting to take into consideration the potential disruption or inevitable delays that might arise through the postal system or any extenuating circumstances whereby the application might be received slightly later than anticipated. Because the Tennis Club failed to put in place these obvious influencing factors they should by law be obliged to provide you with the membership that you applied for within the designated time given. 3). Suppose that the Clubs constitution provides that any member who fails to pay any money owed to the club promptly and in full will be subject to imprisonment on the premises for six days for each offence and during this time must scrub the kitchen with a toothbrush. Assuming Mary refuses to pay, can the club enforce this provision of its constitution against her? Why or why not? (30 marks) No Mary would not be subjected to this type of punishment as she is not officially a member of the club and the constitution clearly states any member. She has not officially accepted membership therefore she is not liable to carry out the actions requested. A constitution in this sense establishes the laws and principles of the club itself which do not infringe on the external it reflects a temporary law or measure which has little power in the external world around its governing area. In this case the club constitution is limited to the confines and membe rs of its club. A constitution is defined as a set of rules which governs an organsation. Every organization, whether social club, Trade Union or nation state, which has defined objectives and Departments or offices established to accomplish those objectives, needs a constitution to define the powers, rights and duties of the organizations members In a club, such as the Country tennis Club members have to obey the laws and house rules as laid down in the constitution. But only as members of the club. The extent by which the members are controlled is dependent on the constitution. What it does not have is the power to force its members to carry out things against their will. As with any constitution, it can discriminate and create its own internal laws which might have an affect on those trying to seek membership. It represents an internal oligarchy that control their own small governing group which has no legal standing in terms of enforcing its own rules directly onto exte rnal individuals, although this may be indirect as mentioned before in terms of prejudice or discrimination against those people it wants as its members and those it chooses not to accept. In addition the nature of this constitution, regardless of its company policies and rules it is infringing on civil and human rights issues. The fact that the Tennis Country Club constitution expects degrading and humiliating activities to be performed by its members is both unacceptable and contravenes a number of laws. Examples of some of these laws in Australia include those thought to encourage Societal Abuses and Discrimination, The Right of Association. The law also provides all workers and public servants with the right of association domestically and internationally and protection against antiunion discrimination, and workers exercised these rights in practice One point to note is that Australia has no Federal Bill of Rights. However it does have one of the best human rights records in the world. So even if Mary was for some reason expected to make payment for her club membership and then refused, even if membership had been granted, yet not accepted. Under any of these extenuating circumstances she would be well within her rights to report the club for at the least anti-social behavior, at worst for crimes against human and civil rights. Bibliography Tillotson, J.Contract Law in Perspective: Routledge; 1995 Suff, M. Essential Contract Law: Cavendish Publishing; 1997 Nixon, A, Wolstenholme Holland, R.Commercial Law: Longmans, Green and Co; 1907 Frey, M.A, Hurley Frey, P. Essentials of Contract Law: Thomson Delmar Learning; 2000 Stone, R. The Modern Law of Contract: Routledge Cavendish; 2005 Stone, R. The Modern Law of Contract: Routledge Cavendish; 2005 Stone, R.The Modern Law of Contract: Routledge Cavendish; 2005 Barnett, H.Constitutional Administrative Law: Rutledge Cavendish; 2004 Harriman, E.A.The Constitution at the Cross Roads: A Study of the Legal Aspects of the League of Nations, the Permanent Organization of Labor and the Permanent Court of International Justice: The Lawbook Exchange, Ltd; 2003 Australian Human and Civil Rights. Available at: https://home.vicnet.net.au/~victorp/vphuman.htm Accessed August 26, 2008

The Meaning of Acceptance Free Essays

Human beings are social animals.   That means that they interact with each other apart from reasons of propagation.   One of the ways human beings interact is through communication. We will write a custom essay sample on The Meaning of Acceptance or any similar topic only for you Order Now    However, not all communication is successful.   Oftentimes, communication between two or more individuals may cause misunderstandings and conflicts to occur.   In this paper, Rogers present his outlook towards acceptance and understanding, its importance and the benefits of achieving this. The Meaning of Acceptance and Understanding In a lecture given by Rogers (2007) in 1956, the premise of his lecture was that he firmly believed that all individuals have an inert tendency to grow, mature and be responsible for their lives.   His ideas with regards to the meanings of acceptance and understanding were influenced by both religion and philosophy.   Throughout his lecture, he emphasized that an individual would only be able to understand one self and others only if they have embraced the acceptance of one self and others. Rogers (2007) focused his lecture on a number of key points.   The first is that he discovered that in the long run, it would benefit the individual to accept himself or herself and to refrain from acting as though they were someone else.   This is because when an individual lives a fallacious life and portrays an identity that is other from his or her own, that individual would not be able to act in a calm and pleasant manner.   This would also lead to the failure of the individuals in keeping and maintaining personal relationships with others.   As a result, he believed that it is extremely imperative that an individual must learn to accept who and what he or she is. Once an individual is able to accept himself or herself for who and what they are, it is only then that they will be able to begin to accept other people.   This process is more difficult than the acceptance of one self.   Because human beings are social beings, they interact with each other.   However, there are instances when it becomes difficult to accept the words, thoughts, expression and especially suggestions of others.   This is because it is the nature of the individual to become judgmental about the statement and reactions received from another individual.   In fact, it is on very rare occasions that individuals accept criticism and suggestions given by other people, particularly if they view these people are inferior to them.   Some examples of these relationships are between parent and child, professor and student, or employer and employee (Rogers 2007). Rogers (2007) stressed the importance of accepting other people for who and what they are with regards to not only the development of deeper and more meaningful relationships with each other, but also this would become a valuable experience for the individual as well.   This is because once the individual has come to accept who he or she is; it will be easier for the individual to accept other people for who they are. As such, it will make the individual understand certain behaviors that another individual exhibits and would be able to understand and be more patient with one another.   Furthermore, because individuals are accepted and understood by others, they are more comfortable in exposing their true colors, instead of living behind a faà §ade, deepening further the relationship between two individuals. Conclusion Although human beings are social animals, human beings are also known to be judgmental towards other people.   This attitude has been seen long throughout mankind’s history.   For instance, unexplainable occurrences that happen in the environment have long been associated to gods, goddesses and deities.   When explorers from the West discovered various lands, they referred to the inhabitants of the land as savages or barbarians simply because they look different and their way of living is different. Even today, individuals from certain cultures are stereotyped by others.   Most of these stereotyping are degrading on the part of the individual being address.   As such, they are extremely apprehensive to accept who and what they are.   Instead, they acculturate themselves and become somebody that they are not. However, no matter how hard a person tries to change, certain behaviors and attitudes would still come across other people because these are part of the person and would often be expressed unconsciously.   As such, this would confuse other people or would cause them to shame him or her further because they are not being true towards himself or herself, but towards other people as well. Only when the individual is able to accept who he or she really is deep down, from gender preference to his or her cultural ancestry, this individual would not only be able to be more comfortable in expressing himself or herself in society because they are not worried on how they should act to please other people but also they will be able to establish stronger, more fruitful and deeper relationships with other people since only those who are willing to accept them for who and what they are will be those who are worth having a relationship with. References Rogers, C. (2007). What understanding and acceptance mean to me. In H. S. Friedman M. W. Schustack (Eds.), The personality reader (pp. 241-49).   Needham Heights, MA: Allyn Bacon. How to cite The Meaning of Acceptance, Essay examples

University Management and Staff Unions in Nigeria free essay sample

It also notes that high handedness, arbitrariness and corruption, on the part of university administration, are some of the causes of agitation in the system. It is therefore recommended that Nigerian universities need to be re-orientated in consonance with acceptable democratic and international standards. Appointment of people into Governing Councils must be based on merit and not on political or ethnic affiliation. There is also the need to fund the system effectively, so that the goals of university education can be realized. Staff unions must also show restraint in their demands and agitation.Introduction All over the world, universities are recognized as centers of excellence, where knowledge is not only acquired, but also disseminated to those who require it. They are formal institutions set up by the society to be centers of learning, rich ideas and ideals. In its strict sense, Benjamin (2001 ) is of the opinion that universities are ivory towers, where instruction is given and received without harassment and undue influence from the outside world. We will write a custom essay sample on University Management and Staff Unions in Nigeria or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Thus, the universal idea of the university is a community of scholars, free to pursue knowledge without undue interference from any quarters (Banjo, 2001).In the same vein, Hannah (1998) postulates that universities are enterprises that produce and distribute a public good, which is knowledge. Salter (1983) agreed that knowledge production is the focus of universities and that the production of knowledge has always focused on teaching and research. Also Clarke and Edwards (1980) recognized the high level of respect and trust bestowed on the university system in this way: Universities have since their medieval singings, been founded to preserve the positive heritage of society.They are committed to promote societys corporate well being and advancement by refining the ability of its members to select reasons and understand by enquiring into and seeking to explain the development and function of man as part Of the natural world and by acting as guide and critic in those areas which can be informed by a universitys resources of knowledge and specialized skills. Therefore, the important role, which universities play in the society cannot be ignored. To this effect, Rote and Salesman (1 977), maintained that the university is an institution which advances and diffuses consciousness for the entire society.Its output are critical factors for the maintenance and adaptive structures of the society. Citing the incident of violent ethnic conflict between the Fife and Mandrake communities in Sun State of Nigeria, when one of the countrys biggest universities (Baffin Allow university, Ill-elf) had to harbor and protect thousands of people displaced by the fierce communal fighting, Jump (2001) asserted that universities, especially in Nigeria, have 15 AS-idled Volvo. 3 (1) 15-22 undergone further evolution and have gained significance not only as a centre of freedom and truth, but also as a place of refuge and protection. Specifically, the goals of tertiary education (including university education) in Nigeria are: 1 . Contribute to national development through high level relevant manpower training; 2. Develop and calculate proper values for the survival of the individual and society; 3. Develop the intellectual capability of individuals o understand and appreciate their local and external environments; 4. Acquire both physical and intellectual skills which will enable individual to be saltcellars and useful members of the society; 5. Promote and encourage scholarship and community service; 6. Forge and cement national unity; and 7. Promote national and international understanding and interaction. (Federal Republic of Nigeria, 2004, Section 45). Section 46 of the same document further asserts that universities (and other tertiary institutions) shall pursue hose goals through among others, teaching; research and development; virile staff development programmed; generation and dissemination of knowledge, to mention a few. However, in spite of the laudable goals and objectives, which universities are expected to perform as enunciated above, the various problems and constraints, which confront them, have practically made it impossible for these objectives to be realized.The university system in Nigeria has witnessed a lot of turbulent experiences. The crisis has been characterized by a combination of chronic under-funding rapidly increasing tuned enrolment, inadequacy of facilities, deterioration of physical infrastructure, a growing culture of arbitrariness and suppression in managing the institutions, demutualizat ion of staff and students, incessant student riots and periodic staff strikes.

Research Proposal on Waste Management Essay Example

Research Proposal on Waste Management Essay Waste management is the system of processes and their control which are aimed at the collection, transportation, recycling and utilization of wastes. The term ‘wastes’ means the products of the human activity which are no longer used or must not be used because of their harmful qualities. It is obvious that wastes influence the normal life of people, their health badly; moreover, wastes care harmful for the natural environment, animals, plants and fish. Very often wastes are associated with pollution and it is right, because the industrial and domestic wastes pollute water, air and soil. Due to the system of waste management it has become possible to recycle wastes and produce useful materials from them. The most common way to utilize wastes is to bury them or simply transport them far behind the human settlements. The open air dumps are extremely widespread in the developing countries which have not learnt to recycle and utilize wastes reasonably. Dumps are very harmful for the environment and for the human health, because of the smell and toxicity of various types of wastes which mix together. If there is no possibility to recycle wastes, there are many methods to utilize them: it is possible to bury them (in abandoned mines, landfills, etc.) and burn them down and receive heat, energy and ash. It is very important to develop the system of waste management, because this process saves recourses, energy, space (vast territories are used as dumps instead of using them for the agricultural purposes) and human health preventing pollution and contamination of water, air and soil. We will write a custom essay sample on Research Proposal on Waste Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Research Proposal on Waste Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Research Proposal on Waste Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Waste management is one of the most urgent problems nowadays, because very day people produce so much wastes, they do not have space to bury or keep them. Young people who are interested in the topic and want to suggest some wise ideas concerning waste management are able to prepare a research proposal expressing their thoughts and concepts to the professor. The paper is supposed to be brief, interesting, logical and very informative to present the scope of research and research approach, methodology, literature review successfully. One should convince the professor that the topic is worth investigating and the results of the research will be very useful for the humanity. Many students fail the assignment of research paper writing, because they do not know how to organize the writing process well. In order to learn to compose a correct structure of the paper and format the text well, one will need a good free example research proposal on waste management written by an expert online. A free sample research proposal on solid waste management is quite a useful piece of writing assistance for every student who is not sure in his ability to prepare a good paper himself. At EssayLib.com writing service you can order a custom research proposal on Water Supply topics. Your research paper proposal will be written from scratch. We hire top-rated PhD and Master’s writers only to provide students with professional research proposal help at affordable rates. Each customer will get a non-plagiarized paper with timely delivery. Just visit our website and fill in the order form with all proposal details: Enjoy our professional research proposal writing service!

Political Violence During Reconstruction Essay Example

Political Violence During Reconstruction Essay Example Political Violence During Reconstruction Paper Political Violence During Reconstruction Paper Political Violence during Reconstruction; makes it obvious that in many ways the struggles of getting along were far from over. The relationship between the white man and black man was In constant turmoil, and the political problems In the South did not help either. Harsh feelings and an extensive struggle for power was the problems which the united States faced. Many often think of the United States as peaceful after the Civil War was over, but this is far from the truth. Hyde shows how evident it was that unity of this nation was far from being reached. The carpetbaggers were northerners who supposedly carried all their belongings in a satchel made of carpet material as they came south to exploit the defeated region of the South. The white Southerners gave them this degrading name to them because they wanted to maintain control in the South. The old ruling aristocracy believed that they were born to govern, without question, not only their slaves but the white people too. The local people who supported the Republican Party and what they were trying to accomplish were known as scalawags. Scalawags and arbitragers were the names given to those by the white people in the South that wanted to keep running things their way. They did not want things to change. They had a lot of power and control not wanting anything to happen to It. One can only imagine the harsh feelings In the middle of these translators after the Civil War. Along with these harsh feelings came the problems with the lower-class Louisianan in dealing with the planter elite. The lower-class Louisianan wanted to create equality between them and the planter elite in their state. They felt that wings were not fair and change was needed for the better of society. They were encouraged to reassess their fealty to these planters. Through newspapers and other ways these Louisianan felt that they needed to raise their own crops and be independent from working under these planters. However, these elite planters presented themselves as victims of tyrannical outsiders who sought not to create equality between them but to make the lower class more dominant In order to make them serve the lower classes needs. The lower class may have wanted to know what It was to be served, or they really did Just ant to have an equal opportunity at life. This proved unsuccessful because of the power and resources the elite planters had already obtained. Another struggle for power resulted in many Florida parishes along with other parts of the country almost immediately after the war was over. Freedmans Bureau agents under the federal government, Federal soldiers, and blacks all suffered attack after attack from anyone who wanted to. Shootings and stabbings were very frequent and almost nothing was done about them. Local law enforcement that tried o do anything about it resulted in utter failure, and many times it was laughed at. Insufficient manpower and a slow-moving bureaucracy were so slow to get a case together to prosecute somebody, many other Incidents had already occurred. People that were taken to court were usually let off with absolutely no charges no matter what had happened. Federal authorities were not respected because It was literally a joke to take seriously. They could not enforce any laws because of its vast weakness. With the weakness and lack of any federal and local authorities, two independent ND separate white supremacy organizations were created. The UK Klux Klan and the Knights of the White Camellia were the two major white supremacy organizations. Each group functioned separately with its own set of methods and even purposes. Reports of these groups started to circulate in the late asses. Members of the UK Klux Klan were so obsessively secret that nobody knew for sure if they even existed in some places. Members of the White Camellia openly admitted their existence and even denied any knowledge of the UK Klux Klan. Both of these organizations believed they needed to preserve the superiority of the white race. The purposes of these organizations did differ greatly. Members of the Knights of the White Camellia committed their lives to defending the social and political superiority of the white and in all places to observe a marked distinction between the white and African races. The UK Klux Klan believed that they must not only make a distinction, but also meet any problems with the black race with death as a traitor. The Klan was more violent than the White Camellia. The White Camellias members ere usually looking to keep leadership in the hands of whites. They controlled a lot of political seats and made up much of the business and professional class. The Klan was mostly younger men who were known as characters who drink and do what they want. Through all of the fighting and struggles that had been going on since the Civil War, many were starting to get used to the idea of fighting as a means to solve their problems. They did not necessarily cause an increase in the amount of fighting internally as a whole for the future, but did cause certain aspects of life to be more seed to the fact of violence. The argument could go either way, but overall influence of fighting in the future did not affect it that much. Through the writings of Samuel C. Hyde a person really get a grasp of what went on after the Civil War. Problems that were thought to have been solved as soon as the war was over resumed for many years to come. The constant struggle of power mainly of the white men led to so many problems and even death in many cases. One can really get a grasp of the true struggles that went on shaping our nation into what it is today.

Integration Management (HSBC and Oman International Bank (OIB) Merge) Essay

Integration Management (HSBC and Oman International Bank (OIB) Merge) - Essay Example Unable to procure more deposits and gain asset improvement and growth, OIB was ill-equipped to sustain a strong competitive presence domestically and internationally. Synergies of the merger include better marketing prowess, how to utilise market research studies to create more customer-centric and relevant services, streamlining of the banking service model to include more electronic banking elements, and decentralisation of business practices to generate more innovative solutions supported by HSBC’s very strong economic portfolio to make changes necessary to adjust to changing market conditions. It is through the merger that the previous business entity Oman International Bank will be able to effectively compete with domestic financial institutions and prepare the organisation for building a global competitive presence. TABLE OF CONTENTS EXECUTIVE SUMMARY 1.0 Introduction......................................................................................................... ..... 2.0 The rationale for the merger – defining the problem............................................... 2.1 Government and institutional problems....................................................... 3.0 Achieving synergies through the merger – solutions to the problem....................... 4.0 Conclusion................................................................................................................ ... side of the more obvious strategic intentions of the merger related to improving the financial portfolio of HBSC and OIB, it is anticipated that this merger will lead to a variety of significant synergies that will make the new entity, HSBC Bank Oman SAOG, more competitive in the Middle East. As a conglomerate whole, HSBC Holdings Plc earned total revenues of 75.6 billion USD in 2012, sustaining an asset valuation of 2.69 trillion USD (HSBC 2012), making HSBC the largest bank in the world in terms of revenues and total liquidity. HSBC is also the sixth largest publicly traded business in the globe as reported by Forbes Magazine in 2012, even larger than Royal Dutch Shell and Berkshire Hathaway (Forbes 2013). HSBC now owns 51 percent, a majority holding, of OIB (AME Info 2012). Established in 1984, Oman International Bank, a bank maintaining 82 different branches in Oman and four branches in Pakistan and India, maintained total assets of 703.7 million rial (the official currency of Om an) in 2011 (GBCM 2011). Until the merger with HSBC, Oman International Bank (OIB) was 100 percent owned by the Omani government. Unfortunately, OIB was the only bank operating in Oman that experienced a net loss in net income of 9.2 percent whilst other banks in the sector, including Ahli Bank and Bank Sohar experienced net income growth of 28.8 percent and 14.8 percent respectively (GBCM 2011). Because of this inability to improve net income growth, the merger between OIB and HSBC represented a significant opportunity to improve the bank’s financial position and liquidity. This merger between HSBC and OIB was only approved in June of 2012, making the merged entity now known as HSBC Bank Oman in the earliest development stages of the alliance. As such, there is limited published

Cellular Biology Article Discussion-Gene Sharing Yields an Enzyme with

Cellular Biology Discussion-Gene Sharing Yields an Enzyme with Two Binding Sites in One Subunit - Article Example It is well recognized that mitochondria have an important role to play in the development of reperfusion injury. Against this backdrop, the paper titled, â€Å"Mitochondrial Death Channels† by Webster, K.A., addresses the actual mechanism of mitochondrial action of promoting reperfusion injury. The important and individual roles played by two mitochondrial death channels, the mitochondrial permeability transition pore (mPTP) and the mitochondrial apoptosis channel (mAC) in the promotion of infarction are described. It explains in detail, how, during a heart attack, mPTP, under the regulation of calcium and oxidative stress, causes necrotic death while both mPTP and mAC channels are involved in apoptosis. Apoptosis or programmed cell death is an intrinsic cellular process, just as mitosis is. Cell suicides are resorted to in the course of development for example, resorption of the tadpole tail during metamorphosis into a frog, or to destroy cells that represent a threat to the integrity of the organism, or when signals needed for continued survival are lacking. Apoptosis is different from necrosis in that it affects individual cells whereas necrosis affects groups of contiguous cells. Cardiovascular diseases which are the leading cause of death in all developed countries are characterized by the loss of cardiomyocytes due to cell death. Earlier, cell death in myocardial infarction was believed to be caused solely by necrosis. However, recent studies have shown the involvement of apoptosis, too, in the process of myocardial tissue damage subsequent to heart attack (Krijnen et al., 2002). Besides, apoptosis in cardiomyocytes is mediated by mitochondria through the two mitochondrial dea th channels namely, mPTP and mAC as shown in the current paper. Mitochondria are known to be important mediators of cardiac injury during ischemia and