Liquidation Damages Essay Example | Topics and Well Written Essays - 1000 words

Liquidation Damages - Essay Example This paper will look at how liquidation damages for Lake River Corp. v. Carborundum Co. were calculated and provide a critical view of the calculation used. Carborundum is a company that manufactures Ferro Carbo. It had entered into a contract with Lake River Company.   In the contract, Lake River Company would receive Ferro Carbo in bulk from Carborundum’s, put it in bags and ship it to Carborundum’s customers. Carborundum insisted that Lake River install a new bagging system to take care of the contract in an efficient manner, which costs $89000. In order to cover the cost and make a twenty percent profit, Lake River insisted on a minimum guarantee clause that ensured that if the full least quantity was shipped the Lake River would make $533000. However, Carborundum only shipped 12,000 of the 22500 tons of the Ferro Carbo at the time when the contract expired.  Carborundum had paid for the amount billed and bagged.   The clause left Carborundum Company owing $241000. That is $533000 (ferro shipped) less what Carborundum had paid. On the other hand, Lake retained 500 tons of bagged Ferro. As such, the issue was whet her the formulae in the minimum guarantee clause inflicts a penalty for breach of contract or whether it was just a deliberate attempt to liquidate damages (Whitney,1985). In this case, the district judge gave a judgment where Carborundum ended up with approximately $42,000. This amount was reached by making use of the following formulae; $269000 +$31000 -$241000-$17000. The last figure represented the prejudgment interest on the Lake river damages (Whitney, 1985). Here the damage formulae were designed in such a way that it will assure the Lake River Company receives more than the actual damages it incurs. This makes it a penalty. It was noted that, since Lake River did not do much work, they were not

Business & Economics of Strategy Essay Example | Topics and Well Written Essays - 2250 words

Business & Economics of Strategy - Essay Example However, the government still holds an important role to play prior to the success of the industry. Porter believed that the government has an important role to play prior to the success of a company or an industry in general (Porter, 1990). The government has substantial control in the business sector because it is its task to provide a promising For instance, the government’s lack of focus attention towards the automotive sector and inconsistency when it comes to long-term strategic policy framework have considerable impacts on the UK’s auto industry (House of Commons, 2009; Holweg et al. 2009). This has become one of the specific weaknesses of the sector. In short, the UK’s auto industry is dependent on the government’s important policy and procedure. The Automotive Products Trade Agreement affected Canada because of the economic downturn. This in return brings forward positive association between politics and performance of the auto industry. The issue of global warming encourages the car manufacturing industry to go for alternative designs that will minimize fuel consumption and green house gas emission. This is in line with government policies especially in Europe to take considerably the issue of global warming. ... Sales for automobile have substantially decreased and car manufacturing companies have feared the eventual impact of this in their business. Social Analysis Distracted by the aftermath of economic downturn, customers are more willing to compromise the need for a car. In a society where economic activity is unstable plus oil crisis has substantial impact, having a car is considered a luxury. People are most likely to go for their basic needs first and set aside other secondary needs in life. In the midst of oil crisis and economic downturn, public transportation was in demand. This is also influenced by educating the people about the possible implications of too much green house gas emission that most of it comes from automobiles. This only shows that social considerations have important impacts on the auto industry. In short, social business environment is another important consideration for the automobile industry in order to create a substantial need for its offerings. Technologica l Analysis Grant (2009) pointed out that in order for a company to have long-term survival; there is a need to consider resource and capability base upgrades. In line with this, the auto industry is consistently observed to promote different car models suited to the ongoing trend and created needs through technological innovation. Toyota is known to produce cars that are known for their cutting-edge technology. Part II. Industry Analysis The automobile industry is good at stimulating demand or needs for their products. In fact, it is the latest trend of every company to stimulate needs for their product and service offerings (Kotler et al., 1999; Boone and Kurtz, 2006). Car companies from Asia, Europe, North America and

A Report On Madurai

A Report On Madurai Madurai Madurai is a temple city located in the southern Indian state of Tamil Nadu and is one of the most ancient cities in India. Madurai is said to have existed from the pre Christian era. Madurai, according to scriptures and religious texts, is said to have been established in the Sangam age the golden age of Tamil literature. Significance History records the visit of the Greek philosopher, Megasthanes in the third century BC and was followed by visits by scholars and traders from ancient Greece and Rome. Madurai was the seat of learning during the Sangam era and flourished under the reign of the Pandya dynasty. However, the creation of temples to make Madurai the city of temples as it is known today can be attributed to Thirumalai Nayak who initiated the construction of many magnificient temples around the 15th century. Attractions The Meenakshi Sundareshwar Temple: This temple dominates the skyline of the city center and Madurai city is built around the Meenakshi Sundareshwar temple which is surrounded by concentric streets believed to symbolize the structure of the cosmos. It is one of the greatest Shiva temples in Tamil Nadu and was built by Kulasekhara, a Pandya king. The temple was built to commemorate the love of Goddess Meenakshi and her groom Sundareshwar. Thiruparankundram Temple: Located 25 km away from the city, this temple is said to have built to celebrate the wedding of Lord Murugan, the resident deity of Tamil Nadu in many ways, to Devainai. The Thiruparankundram temple is older than the Meenakshi Sundareshwar temple. Goripalyam Dargah: Built the spot where two famous saints of Islam are buried, Goripalyam Dargah, literally translated, means built on a grave (gor = grave in Persian). Located off the Vaigai river, this dargah is an architectural marvel and boasts of a 70 ft circular dome carved of a single block of stone. Kazimar Mosque: One of the most ancient mosques that was built by Hazrat Kazi Syed Tajuddin in the 13th century. The Kazimar mosque is situated in the heart of the city. St. Marys Cathedral Church: This is the seat of the archbishop of the Roman Catholic Diocese in Madurai. St. Marys Cathedral church is one of the oldest Roman Catholic church in India. The church is situated very close to Thirumalai Nayak Bhavan, another popular tourist attraction. Azhagar Temple: Located about 25 km from the city the Azhagar temple is a shrine dedicated to Lord Vishnu. The enshrined deity however, is Lord Kallazhagar. How to Reach Catch a plane and land at the Madurai airport which is a mere 9 km from the city centre. Madurai station is a major junction on the southern line and is also one of the busiest. The city is well connected by road with Chennai and all other major cities in India.

A Look into Tailgating :: Personal Narrative Sports Papers

A Look into Tailgating I slouch back in my blue canvas-folding chair. My legs are crossed neatly in front of me, making a sturdy table for my notebook. I positioned myself between two tan RVs they both are decorated in their own special ways. My back was facing the Stone building, which is right on the edge of campus. The RV on my right has a garnet flag hanging on the back window with FSU sewn on in gold letters. The RV to my left chose a white a flag with the Seminole emblem, it was hanging from the over hang. People honk as they pass. Strands of my hair blow softly across my face in the cool breeze, and getting into my eyes occasionally. There are so many questions race through my mind as stare at the crowd in front of me. Every Saturday as I walk by the thousands of parked cars I wonder why they are here. What compels these men and women who have real jobs and live in exciting cities to come back here and tailgate? So I sit amongst them, and try to understand them. They talk and eat all around me. We h ave some camaraderie, but we are different. Maybe because I can't imagine myself in their shoes ten years from now. I don't know anyone around me but they all look familiar. The dad who is dressed in jeans and a garnet pollo shirt stands behind a small Webber grill. He glances up occasionally moving his attention from the cooking meat to watch the miniature TV sitting on the table. His wife is busily at work setting up the assortment of goodies and chatting with the wife of the other RV. Every now and then she peers out from under her gold visor to make sure what the children are doing. The kids, who range from all ages, play football on the one patch of the grass that is unoccupied (which is actually part of a ditch). I watch them as they go about their routine. We have a few things in common. I am also wearing a Garnet shirt. We cheer for the same football team. But there are also so many things that separate us. To begin with, I live Tallahassee. My house is one block from where they set up their RV and portable grills. Every morning I walk past this same spot where we all sit now.

Extreme Poverty and the Rights of the Poor Essay

Extreme poverty and the rights of the poor has been a high priority of the UN ever since its creation, yet this dilemma are still happening in many underdeveloped and developing countries. To eliminate this problem, public awareness and a genuine cooperation in the global community is required. Extreme poverty and rights of the poor goes hand in hand, because in many third world and developing nations, poor people have no rights. France encourages nations to genuinely cooperate to increase the awareness of the issue and to abolish habits of â€Å"ignoring poverty and the rights of the poor.† The eradication of poverty must begin by providing help to those most affected by the problem. The poor and uneducated makes up the majority of those without any rights, they lack access to the fastest way of escaping poverty, education; therefore, they rarely ever have a voice in their communities. France is well aware that efforts have been made to fight poverty in many regions simultaneously, including Africa, Central and South America, and the Middle East. France strongly believes that the most essential step the UN should take in order to solve this problem is to encourage all nations to provide free education to everyone. In order to reduce poverty and guarantee rights to the poor, free education must be made available to everyone, especially to those that cannot afford it. If this is achieved, people most definitely are able to have a bigger and better access to economic opportunities, a major factor in escaping poverty. In France, it is required for children from the age of 6-16 to attend school. After ninth grade, students can choose whether or not to pursue a higher education, such as high school and college, if not, they can be admitted to a technical school, then graduate from such school and have a professional career. France believe that based on the high efficiency of this method, the UN should carry out similar actions to a global scale by encouraging nations to adopt the same principle. In conclusion, France strongly believes nations must genuinely cooperate effectively in order to reduce poverty and guarantee rights to the poor. The source of this problem is believed to be the lack of access to education due to poverty. Providing free education must be the first step nations should take in order to bring an end to this problem.

Environmental issues Essay

What ways has learning about new environmental issues changed the way of living sustainably? The knowledge of environmental issues has changed the way we live. We learn a lot from our past experiences. Environmental problems paved a way for scientific advancements. An example of this is the invention of alternative fuel in vehicles. Environmental issues help promote social networks among countries. Information technology improved our communication with other people. We learn about counter measures of certain environmental problems from them and in turn, we share our knowledge to them. In our everyday lives, we learn the importance of cleanliness and discipline. Throwing our garbage anywhere might start an epidemic and result to death of animals and plants as well as humans. What important information has the greatest impact on the way you think about the environment? How can you apply this knowledge in the future? The most important information that changed my way of thinking about the environment is the knowledge of Global Warming. Why? Well, among the biggest mistakes humans ever made was to cause the depletion of the ozone layer. Its effects are devastating yet there isn’t an effective way of stopping it. The knowledge of such issue will help save humanity. I may be the one to find a way to stop Global Warming in the future. Nevertheless, if only all will help in solving this problem, we might be able to find the most effective way of saving the environment, saving our own lives. Reference: Global warming. (n. d. ). Britannica Concise Encyclopedia. Retrieved March 02, 2007, from Answers. com Web site: http://www. answers. com/topic/global-warming