...SOUTH 1 Person of Interest Paper "It is more blessed to give then to reciecve" Act 20: 35(NIV Bible). This verse is a great representation of the way Mother Teresa lived. She was a great woman of faith and was the best definition of a Godly woman. She lived by the beattitudes, and walked through life living out her faith by her actions. She always said to be faithful in the small things, because it is in them that your strength lies.(bio.com) Mother Teresa was born into a family where both of her parents were devoutly Catholic. She was raised in the Catholic environment. As a young child, her father got very sick and passed away. Once her father was gone, Agnes and her mother grew very close. Her mother played a part in the way she was, being...
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...INSURANCE LAW WK3 Insurable Interest It has been said that insurable interest is one of the great upstanding principles in the formation of the contract of insurance. It is the interest in which the law requires a person to have, to enable him to effect a valid insurance (Per Judge Patterson in Bernard v NEM West Indies Insurance Ltd). According to Lawrence J in Lucena v Carufurd, “Insurable interest is to be interested in the preservation of a thing, is to be so circumstanced with respect to it as to benefit from its existence, prejudice from its destruction.” Before the legislature intervened wagering contracts were not illegal and could be enforced in a court of law. The present position is that no one may effect insurance unless he has an insurable interest in the life or property which he desires to insure. A contract made without such an interest is void. Three statutes brought about this change: The Marine Insurance Act 1906; The Life Assurance Act; and the Gambling Act of 1845. Until the passing of the legislation there was no requirement for insurable interest. The general principle of every contract was simply that it was enforceable by the parties irrespective of the subject matter provided it was neither illegal, immoral nor contrary to public policy. According to Blackstone, gambling was considered a social evil which promoted idleness, theft and debauch among the lower class. Patterson expressed similar views: “A sense of antagonism is aroused in a community...
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...Current Internal Revenue Code,SEC. 267. LOSSES, EXPENSES, AND INTEREST WITH RESPECT TO TRANSACTIONS BETWEEN RELATED TAXPAYERS. 267(a) In General.— 267(a)(1) Deduction for losses disallowed.— No deduction shall be allowed in respect of any loss from the sale or exchange of property, directly or indirectly, between persons specified in any of the paragraphs of subsection (b). The preceding sentence shall not apply to any loss of the distributing corporation (or the distributee) in the case of a distribution in complete liquidation. 267(a)(2) Matching of deduction and payee income item in the case of expenses and interest.— If— 267(a)(2)(A) by reason of the method of accounting of the person to whom the payment is to be made, the amount thereof is not (unless paid) includible in the gross income of such person, and 267(a)(2)(B) at the close of the taxable year of the taxpayer for which (but for this paragraph) the amount would be deductible under this chapter, both the taxpayer and the person to whom the payment is to be made are persons specified in any of the paragraphs of subsection (b), then any deduction allowable under this chapter in respect of such amount shall be allowable as of the day as of which such amount is includible in the gross income of the person to whom the payment is made (or, if later, as of the day on which it would be so allowable but for this paragraph). For purposes of this paragraph, in the case of a personal service corporation (within...
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...considered as a wholesome person and suggested the ethical implications of his view (Melé, 2012). The concept that a firm should be regarded as a legal person, and not just a profit seeking entity, was brought forth by the House of Lords in the (Salomon v. A. Salomon & Co. Ltd., 1897) case, paving the way for modern firms. Melé’s argument was revolutionary in that he considered the firm a wholesome person, bearing moral responsibilities for communities that it may potentially affect. This response paper aims to analyse Melé’s paper, further discuss his ideas, and finally incorporate the role of ethics in human evolution to project the possible direction of business evolution. The article started by suggesting that there are two views of the firm. The former views the firms as a nexus of contracts, implying that the firm functions as an aggregate of agreements. The latter views the firm as an aggregate of interests, adding a human element of desire to the soul-less assembly of agreements. Extending the addition of human element into the firm, Melé argued that the main constituent of a firm is social bonds, and thus, a firm should be regarded as a community. Personally, I think that the progression of arguments is well organised. Contracts stem from self-interests, and self-interests are derived from interactions with other people in the community. Within a firm, individuals have their self-interests in mind but in a community of other firms, the interest of the firm takes precedence...
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...The personal interest is an attitude which consists in pulling the best party of circumstances by compromising if need with the ethics principles and by acting only in his own interest to the detriment of others. Any action results from a motivation. If we harm others, it is from a motivation; and if we help others, it is also from a motivation. We say of an honest and ethical person that she is "made lose interest" whereas a "interested” person is considered as deceitful and selfish. Nevertheless, he is natural on behalf of each of us, to pursue or to protect his interests. The interest is necessary for the man. But the interest, it is also the search for what can benefit us and this can raise an ethical problem. The motivation is neither personality's line independent from the context, nor consequence Almost automatic of a good management or an adequate organization. It is about the resultant of economic, organizational, technological and cultural constraints, and about their interactions with needs, values and aspiration of the individuals. The motivation is not a stable process, it is ceaselessly questioned. We can then wonder if the personal interest is the result of the human motivation and afterward if the rewards and the punishments are the only effective tools for a manager. We shall begin by seeing that the personal interest is the base of any motivations then we shall see that the punishments and the rewards are very effective tools in our company and afterward we shall...
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...CH 12 The scope of the estate tax Sec 2033 Section 2033 · Gross estate: Value of the property to extend of interest at time of death Section A · estate tax is excise tax: “tax included on the property” · Tax base must include the value of the property that most obviously is transferred (FUNCTION OF 2033) · Section 2033 includes (GROSS ESTATE) o Decedent’s securities o Bank deposits o Real state o Income earned before death are collectible by the estate § Rent § Interest § Dividends § Partnership profits § Refunds § Vested rights § Promissory notes (matured or not) § Insurance policies § Saleable (commercial) leasehold interest § Interest in rented property · By either tenants in common or one-half community. § Federal and State bonds are includable despite their exemption from other taxation either by their express terms or by law · REG 20.2033 o Descendant hold only legal title (trustee) under enforceable oral or written does not possess an interest taxable under section 2033. § Ex: agent o ONLY DIRECTLY OWNED PROPERTY · Principal reliance on judicial and administrative interpretation of Sec 2033’s simple language potentially would yield over inclusions “many” o There are not many limits o Limits must be established o Congress explicit responded what property interest that are to be taxed, eventhough they lied beyond the reach of 2033. § 2033- Base line § Section 2041 · in...
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...incurred or to be incurred, (E) for energy provided or to be provided, (F) for the use or hire of a vessel under a charter or other contract, (G) arising out of the use of a credit or charge card or information contained on or for use with the card, or (H) as winnings in a lottery or other game of chance operated or sponsored by a State, governmental unit of a State, or person licensed or authorized to operate the game by a State or governmental unit of a State or (ii) any credit device account. The term includes health-care-insurance receivables. The term does not include (i) rights to payment evidenced by chattel paper or an instrument, (ii) commercial tort claims, (iii) deposit accounts, (iv) investment property, (v) letter-of-credit rights or letters of credit, or (vi) rights to payment for money or funds advanced or sold, other than rights arising out of (A) the use of a credit or charge card or information contained on or for use with the card or (B) a credit device account. Account debtor: a person obligated on an account, chattel paper, or general intangible. The term does not include persons obligated to pay a negotiable instrument, even if the instrument constitutes part of chattel paper. Accounting: a record (A) authenticated by a secured party; (B) indicating the aggregate unpaid secured obligations as of a date not more than 35 days earlier or 35 days later than the...
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...herein, the parties agree as follows: Definitions As used in this Agreement the terms listed below will have the meanings stated below, and other terms defined elsewhere will have the meanings there ascribed to them: "Agreement" or "this Agreement": these Articles of Partnership. "Bankruptcy": with respect to any Person, shall mean that such Person shall have become insolvent or generally failed to pay, or admitted in writing his or its inability to pay, debts as they become due; or shall have applied for, consented to, or acquiesced in the appointment of, a trustee, receiver or other custodian for such Person or any property of such Person, or such Person makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for such Person or for a substantial part of the property of such Person and is not discharged with sixty days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding is commenced in respect of such Person and if...
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...“29. (1) … a conflict of interest is deemed to arise if a person in public life or any person exercising a public function were to make or participate in the making of a decision in the execution of his office and at the same time knows or ought reasonably to have known, that in the making of the decision, there is an opportunity either directly or indirectly to further his private interests or that of a member of his family or of any other person” Section 22(1) of the Integrity in Public Life Act provides further: 22. (1) Where it appears to the Commission that a breach of this Act may have been committed or a conflict of interest may have arisen, it shall order a person in public life to place his assets or part thereof in a blind trust for the purposes of this Act on such terms and conditions as the Commission considers appropriate and file a copy of the trust deed with the Commission. The Code of Ethics for Parliamentarians including Ministers makes specific reference to conflict of Interest as follows: “6. A parliamentarian should avoid situations in which his private interest, whether pecuniary or otherwise, conflicts or might reasonably be thought to conflict with his public duty” Legal Implications The article begins stating that, “SIPARIA MP Kamla Persad-Bissessar yesterday called for the jailing of Finance Minister Karen Nunez-Tesheira for allegedly breaching the Prevention of Corruption Act during the bailout of CL Financial (CLF), saying Acting...
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...ideologies, which view the human person as “image of self” as opposed to “image of God.” The choices and actions Alfie makes and his relationships with others embody various ideologies, such as objectivism described by Ayn Rand. The standards Alfie live by, his moral code, treatment of other people, views on love and final self-reflection all include ideas from the Objectivism ideology, which views the person as “image of self.” For that reason, objectivism embodied by Alfie’s moral code and personal standard to live by can be contrasted to the Catholic Intellectual Tradition, which views the human person in the “image of God.” Alfie lives by a standard and moral code that coincide...
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...communication. During negotiations there are two or more parties, each has self-interests, all parties have options, the parties can come to an agreement or unable to reach a mutual agreement (Murtoaro & Kujala, 2007). There are also several concepts of negotiations including win-win, interest-based, positions v. interests, and BATNA negotiations. Below the reader, will find a brief description of all of these concepts. Win-Win Negotiations The win-win negotiation approach is a relatively new concept and is successful when one or all parties meet their requirements of the settlement without the use of power (Falcão, 2014). A win-win negotiation strategy has seven requirements to form a solid foundation. “Promote interdependence, proactive learning, be translucent, be positive, be reasonable, be loyal in the negotiation process, and commit to a win-win process” are the seven steps to a successful resolution (Falcão, 2014, para.3). In win-win negotiations, it is necessary for the parties to conduct some background investigations especially for business-business negotiations because criminals wear different suits. Best Alternative to No Agreement (BATNA) Rodger Fisher, William Ury, and Bruce Patton introduced the term best alternative to no agreement in their book, “Getting to Yes” (Negotiation At Work, 2008). Anyone going into a negotiating setting should develop a BATNA before meeting with the other party. A person needs to follow seven steps when developing a BATNA. No one can guarantee...
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... a. the longer a person waits to withdraw the funds. b. the higher the interest rate is. c. the larger the initial deposit is. d. All of the above are correct. 2. Edgar has four savings accounts. Which one has the most in it? a. $100 deposited 1 year ago at an 8% interest rate. b. $100 deposited 2 years ago at a 4% interest rate. c. $100 deposited 4 years ago at a 2% interest rate. d. $100 deposited 8 years ago at a 1% interest rate. 3. Suppose that the price of a bond is equal to the sum of the present value of its future payments. Suppose further that this bond pays $50 in one year and $1,050 in two years. What is the price of the bond if the interest rate is 5 percent? a. $1,050.00 b. $1,045.35 c. $1,000.00 d. $945.35 4. Prospect theory says that a. people should follow their gut feelings and purchase stocks they think have good prospects. b. people will tend to sell off winning investments too quickly and hold onto losing ones too long. c. people tend to be overly pessimistic about developments in the stock market. d. during a speculative bubble most people are thinking that they won’t be able to get out of the market before the bubble bursts. 5. Al, Ralph, and Stan are all intending to retire. Each currently has $1 million in assets. Al will earn 16% interest and retire in two years. Ralph will earn 8% interest and retire in four years. Stan will earn 4% interest and retire in eight...
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...best interest. This brings about a discussion regarding the difference between psychological egoism and ethical egoism. To understand the similarities and differences, one must first understand the two concepts including their natures, as well as their doctrines of motivation. Psychological Egoism and Ethical Egoism: A Comparison Human beings place great value on the interests of both themselves and others. There is a certain innate desire to help others, just as others will feel that same fulfillment for returning that aid. At the same time, however, there is also an inherent yearning to seek out one’s own best interest. That being said, which is the more natural desire, and which of these will prevail when a decision must be made between self-interest, and the interest of others? This brings about a discussion regarding the difference between psychological egoism and ethical egoism. Philosophers as far back as Plato and Socrates – and likely further – have been pondering over these notions which remain just as relevant today. To understand the similarities and differences, one must first understand the two concepts including their natures, as well as their doctrines of motivation. Psychological egoism is a theory which states that people will always behave selfishly in order to achieve their own happiness and pleasure. This, therefore, means that humans are essentially selfish by nature and will behave from a motivation of self-interest. It implies...
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...loans? * Give my opinion on payday loans With today’s economic climate, opportunities and fast money are the norm in our current society. Payday loans and instant cash are a part of our business institutions as a place for banking and quick fixes to paying due or past due debt. A payday loan is a, “short-term loan, based on a borrower’s check or future deposit, such as a direct deposit from an employer” (Herrfeldt, 1999-2011). Payday loans are located all over the U.S., but are, “…legal in 35 states, though many states have imposed restrictions aimed at protecting those who must resort to that type of loan” (Herrfeldt, 1999-2011). A person can apply for a payday loan by visiting a payday loan institution that legally complies with the state regulations of borrowing requirements. The qualification process for a person to apply for a payday...
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...vested interest to tell the truth or vested interest to lie E – expertise or experience N – neutrality (or its opposite, “bias”) § Reputation – Reputation is what other people think of the author of the document or a person or organisation mentioned in the document. You can judge reputation from knowledge of their past performance. Have they lied or been misleading? Do they have a strong reputation for telling the truth? The reputation criterion uses the idea that a highly credible reputation in the past suggests there will be high credibility in the future. § Ability to see / perceive / hear – Was the author or person in the document an eye-witness of the dispute? Were they at the event? Were there any factors impeding their reliability such as lack of concentration, fog etc? Ability to see is the most useful of the senses but ability to perceive and ability to hear are useful in some circumstances. § Vested interest to tell the truth or vested interest to lie – Vested interest is to do with the author or a person in the document gaining (or not losing) something by telling the truth or lying. It is often helpful to think of vested interest as being to do with money in its widest sense such as a job, customers, a company’s income, ownership of a house etc. NOTE: Students sometimes confuse reputation and vested interest. Reputation is to do with what other people think of the author/person in the document whereas vested interest is to do with what the author/person in the...
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