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Constitutional Law for Checks and Balances within the US Constitution Essay; There are systems within the US Constitution, that was made in particular to regulate the number of power every branch of the presidency has; this method is named Checks and Balances and it’s important to our government; while not a system to forestall one branch of the presidency from having a lot of power over another; the govt would control by one cluster of individuals; it might not be honest to the individuals of the US; if one branch had a lot of power over another. this method is meant to forestall tyranny.
Here is the article to explain, Checks and Balances within the US Constitution Constitutional Law Essay!
The 3 branches of the presidency are; the branch, the chief branch, and therefore the arm. The branch is passed by congress, which has the House of Representatives and therefore the Senate; the most responsibility of the branch is to create laws; the chief branch is passed by the President of the US. The president enforces laws and presents new ones, is up to the mark of the militia, and has vetoing power. The arm passes by the Supreme Court. the ability the arm has is to investigate the Constitution and review laws.
The Separation of Powers was designed by the manufacturers of the Constitution. this method serves several goals. Separation prevents the buildup of power to 1 authority, which is the main reason behind tyranny. It additionally permits every one of the branches to possess power over the opposite 2 branches. The US of America was the primary nation to possess a separation of powers within the branches of the presidency. The powers and responsibilities exist equally divided amongst the chief branch, the branch, and therefore the arm. Dividing the US government into 3 separate branches; it’ll exclude the chance to possess total power from anybody of the teams. The separation of powers additionally created checks and balance system; which can not enable one amongst the branches of the presidency to possess a lot of power over another; the most goal is to keep up equality within the government.
Essay Part 01;
The system of Checks and Balances plays a vital role within the US government; this method existed engineered so one amongst the branches of the presidency will ne’er have an excessive amount of power; so one branch of the presidency controlled by the opposite 2 branches; every branch of the presidency checks the ability of the opposite branches to make sure that each branch has equal power. The individuals of the US place their trust within the government and come need their rights to protect. If all branches stood passed by themselves it might not be honest or constitutional.
The means laws created may be an example of Checks and Balances. The branch initially proposes a bill. Then the bill stood voted on by Congress and sent to the chief branch. The president can then decide whether or not or not the bill can improve our country. If the president believes the bill may be a sensible plan he or she’s going to sign the bill, so it becomes law; however, er if the president doesn’t suppose that the bill is sensible for the country he can veto the bill. Another check the branch will do if they believe that this explicit bill ought to become law is that they will override the president’s veto. The bill gets sent back to the branch and if the common fraction of the cluster agrees; this may override the president’s veto and therefore the bill becomes a law.
Essay Part 02;
Currently, once the bill has become a law, the individuals of the US try the new laws within the courts; that passed by the arm. someone will file a legal proceeding if they believe a law isn’t constitutional; it’s the judicial branch’s job to concentrate on every facet of the story and confirm whether or not or not it’s constitutional. All 3 branches of the presidency are concerned with the law-making and imposing method. If the responsibilities of laws were exclusively within the hands of 1 branch it might not be constitutional. The system of checks and balances permits every branch of the presidency to possess a say in, however, the laws create.
The branch can create laws. It additionally can run the subsequent checks over the chief branch. The branch additionally can get rid of the president from the workplace; this will solely exist done if they believe the president isn’t doing his or her job the proper means; this exists often known as a legal document. The branch additionally has “the power of the purse”; which implies that they manage however cash spends within the government. If a president wants cash to travel to war or for additional federal action; the branch won’t give the cash unless they believe it’s constitutional. Another power the branch has over the chief branch is that the Senate will approve presidential appointments and treaties. Alike the chief branch, the branch additionally has the ability over the arm to impeach decide and approve the appointments of the judges.
Essay Part 03;
The Executive branch’s main goal is to hold out the laws. the foremost vital power the chief branch has over the others is the power to veto. the chief branch has the ability over the branch to decide vital sessions of Congress. The president can even propose new concepts for legislation. the ability the chief branch has over the arm is that the president will appoint the Supreme Court and different federal judges.
The arm additionally runs checks on the opposite branches of the presidency. The judges of the arm are in the workplace always and doesn’t controlled by the chief branch. A make sure the arm has over the chief reviewed; review is once the court will confirm whether or not or not AN action created by a member of the chief branch is unconstitutional. The courts can even decide the act of legislative members is constitutional or not.
Judicial review is the power that the arm has over the legislative and therefore the branch to review a law or accord and confirm whether or not or not it’s constitutional. The Marbury vs. Madison case is what determined the Supreme Court has the ability for review. I feel that review is incredibly vital as a result of if it weren’t within the constitution; there may well be laws or laws that aren’t constitutional however still in result. There may well be several mistakes within the laws of our government that; the arm will look over and confirm that they ought to throw out or revised so is honest.
Essay Part 04;
If the govt didn’t have this method the various branches of the presidency wouldn’t be able to work along to keep up a stable government. If one branch of the presidency had total management or a lot of management over another branch it might not be constitutional. The US Constitution relies on the people’s rights and equally over America. There would be several issues if there wasn’t a system of separation of powers. There wouldn’t be the simplest way to work out what role every government official plays in our lives; however, with this method, the govt is split into completely different|completely different} branches that every management different aspects of the govt.
The system of checks and balances keeps these 3 branches of the presidency in cooperation. It permits every branch to run checks on the opposite 2 to create a positive that the ability is equally amongst the 3. I feel this is often a decent idea to let every one of the opposite branches check each other. If the branches of the presidency check themselves they might most likely be a lot biased. however, since somebody from outside of their branch is the one to examine their powers I feel it’s a lot fairer.
Essay Part 05;
The government is one of the foremost vital aspects of our lives. the govt will its job in the best interest of the nation. The individuals of the US place their trust within the government to guard the people’s rights. The system of checks and balances has worked all right throughout US history; though there are some problems it improves the govt a great deal. It seldom happens that AN appointed official has stood rejected or a veto has existed overridden however it happens.
The system of checks and balances and separation of powers suppose to stay the 3 branches of the presidency in balance. albeit there are some times wherever one branch seems to possess a lot of power over another branch, overall the 3 branches along have balanced systems wherever nobody branch will hold all power over the govt. The goal of the system of separation of powers and checks and balances is to develop a system that’s equal and honest to all or any of the voters of the US.
Constitutional Law for Checks and Balances within the US Constitution Essay; Image by jessica45 from Pixabay.
Duty of Care Law difference between English and Irish Approaches 2000 words Essay; The duty of care arises in the tort of negligence, a relatively recently emerged tort. The general principle is that you should not harm those people to whom you owe a duty of care law by your acts of omission. If you fail in the standard of care owed; you will be liable for your acts or omissions due to negligence.
Here is the article to explain, the difference between English and Irish Approaches in Duty of Care Law 2000 words Essay!
The questions arise as to who duty owed and more significantly as to the standard to the duty owed. In Ireland, a duty is generally owed to any person who can class as your neighbor; which involves issues of proximity, foreseeability, and policy considerations. Differences exist in Irish and English law in terms of who owed a duty of care. As regards the standard that owes, it is that of the “reasonable person”. The cornerstone of the duty of care principle existed expanded based on the “neighbor principle” by Lord Atkins in Donoghue v Stevenson. [1932] AC 562.
The case involved a woman who had suffered shock and gastroenteritis upon the consumption of a bottle of ginger ale. The shock and gastroenteritis resulted from a decomposed snail at the bottom of the bottle. The plaintiff had no action against the shop owner, as he had not been negligent in any way. The question was whether she could take an action against the manufacturer of the ginger ale. The court rules in her favor, finding that a duty of care existed owed to your ‘neighbor’. Lord Atkins stated that:
“The rule that you are to love your becomes in law you must not injure your neighbor and the lawyer’s question who is my neighbor? receives a restricted reply. You must take reasonable care to avoid acts or omissions which you can reasonably foresee would be liable to injure your neighbor. Who then in law, is my neighbor? The answer seems to be persons who are so closely and directly affected by my act that I ought reasonably to have them in contemplation as being so affected when I am directing my mind to acts or omission which call into question.”
The English Approach;
This duty of care law mentioned above was later endorsed in Anns v Merton London District Council [1978] AC 728. The facts of this case were the plaintiffs were leasees of flats in Wimbledon. The borough of Merton approved a set of plans to build a block of flats. Eight years after the building was complete and the flats stood rented the foundation started to deteriorate. The tenants brought an action against the city for the cost of the repairs. The plaintiffs sued the local authority because their predecessor’s inspectors had either not inspected the foundations or, if they had, had done so negligently. The House of Lords held that the local authority owed the plaintiff a duty of care.
It was in this case that lord Wilberforce established a two-stage test:
First one has to ask, as between the alleged wrongdoer and the person who has suffered damage; there is a sufficient relationship of proximity or neighborhood such that, in the reasonable contemplation of the former; carelessness on his part may be likely to cause damage to the latter- in which case a prima facie duty of care rises.
Secondly, if the first question answer affirmatively, it is necessary to consider whether there are any considerations; which ought to be negative or to reduce or limit the scope of the duty or the class of person to whom; it owed or the damages to which a breach of it may give rise.
More Approach;
In subsequent cases in England, this ruling was initially approved, but rejected in Murphy v Brentwood District Council [1991] 1 AC 398, as it lacked precision and created a duty of care of general application. In this case, the defendant Brentwood District Council failed to inspect the foundations of a building adequately; with the result that the building became dangerously unstable. The claimant, being unable to raise the money for repairs, had to sell that house at a considerable loss; which he sought to recover from the district council.
The plaintiff’s actions failed and it stood held that the defendants did not owe a duty of care to the purchasers. As a result, in England, the law has developed certain categories of negligence, as suggested by Lord Bridge in Caparo Industries Plc v Dickman [1990] AC 605 where he stated the law should be allowed to develop on an incremental basis rather than along the broad lines it had been followed since Anns.
Lord Bridge referred favorably to the Australian High Court decision of Sutherland Shire Council v Heyman where Brennan J had suggested that:
“it is preferably in my view that the law should develop novel categories of negligence incrementally by analogy with established categories; rather than a massive extension of a prima facie duty of care restrained only by indefinable considerations; which ought to negative or to reduce or limit the scope of the duty and the class of person to whom it should owed”.
Ultimately the court in rejecting the earlier tests laid down; their three-step test required foreseeability, proximity, and the imposition of a duty that would be “just and reasonable”. This third criterion would essentially allow the courts to restrict the unfettered expansion of the duty of care to new situations.
The Irish Approach;
Until recently, the approach of both the Donoghue and Anns stood accepted by the Irish Courts; whose approach involved an examination of the issues of proximity and foreseeability; and any policy considerations that would limit negate the scope and the duty of care law. In Ward v McMaster, Louth Co. Council and Nicholas Hardy & Co. Ltd. [1985] IR 29, it stood held at the duty of care arose from the proximity of the parties; and the foreseeability of the damage, balance against “ absence of any compelling exemption based on public policy”.
However, recent decisions of the Supreme Court discussed below, indicate a retreat from; this approach and adoption of the English approach. In the abovementioned Ward case, the plaintiff had purchased a house with the aid of a local authority housing grant. He later learned that the house was severely substandard and structurally unsound. He subsequently brought an action against the builder, the local authority, and the value of the local authority.
The local authority existed required by law to value the house before issuing the housing grant. They did so and their valuer found no defects. However, the valuer did not have any construction knowledge and existed therefore not held liable. He was an auctioneer and had never put himself forward as competent to value the house. The local authority, however, existed found to be negligent; as it had failed to engage a person competent to carry out the investigation. The local authority maintained that it failed in duty, not to the plaintiffs; but, to the public whose rates and taxes went into funding the local authority.
More Approach Part 01;
The court rejected this holding that there was proximity between the parties. It held that it was foreseeable that the plaintiff would rely on the local authority’s valuation. The fact that the plaintiff had applied for a housing grant was proof that he was not wealthy; and, would therefore have been unlikely to carry out a separate valuation in particular; the court heard that the failure of the local authority to warn the plaintiff not to rely on its valuation was relevant in finding it liable.
The builder existed also found to be reliable on the law since including Donohue v Stevenson. The Supreme Court ruled that the duty owed would be to avoid foreseeable harm; and also to avoid any financial harm that might arise from having to repair defects in the house. This ruling changed the common law position that a builder could not be liable in such a case. McCarthy J stated that the duty arose “from the proximity of the parties, the foreseeable of the damage and the absence of the compelling reason bases upon public policy”.
More Approach Part 02;
In McNamara v ESB [1975] IR 1, a young boy sustained when he broke into an ESB substation. The substation stood surrounded by a fence which stood being replaced by a wall. The accident occurred at a spot where there was wire meshing. There stood easily reachable un-insulated conductors at the ESB station and for this reason; the ESB had placed barb wire above the mesh fencing to prevent intruders from entering the site. The ESB also knew at the time that children were entering the substation.
The temporary fence stood severely criticized both by an architect and an engineer hired as experts by the plaintiff. The court found the ESB liable based on proximity and foreseeability. Also, The court did consider the steps taken by the ESB to prevent entry and decided that there were unreasonable circumstances. The court considered whether the children could also be liable. It concluded that they were not, as they did not appreciate that; there was a danger and this danger had not been communicated to them.
More Approach Part 03;
The recent Supreme Court judgment of Glencar Exploration plc and Andaman Resources plc v Mayo County Council [2002] 1 I.R. 84 demonstrates a retreat from the traditional stance of the Irish courts, bringing Irish law into line with English law. This judgment stood followed in Fletcher v Commissioners of Public Works in Ireland, Supreme Court, unreported, 21 February 2003. The plaintiffs in the Glencar case had been granted ten licenses by the Minister for Energy to explore for gold in the Westport area and had invested heavily in such mining over 24 years between 1968 and 1992.
In 1991, they set up a joint venture with an Australian company, Newcrest Mining Limited. However, this joint venture collapsed following the introduction of a mining ban by Mayo County Council according to its 1992 draft county plan. The plaintiffs successfully challenged the mining ban in a judicial review proceeding in the High Court. They subsequently sought to recover damages from Mayo County Council for breach of duty in an action before the High Court, which dismissed the claim. The reason behind the dismissal was that although Mayo County Council had been negligent in adopting the mining ban, according to Kelly J, this negligence did not give rise to any right to damages.
More Approach Part 04;
The High Court decision stood appealed to the Supreme Court, which again dismissed the action. Keane CJ dealt with the duty of care and the neighbor principle at length. He questioned whether the two-step test of Anns was the correct test to follow in this jurisdiction and reinterpreted the decision of the Ward case. He stated that:
“There is, in my view, no reason why courts determining whether a duty of care arises should consider themselves obliged to hold that it does in every case where injury or damage to property was reasonably foreseeable; and the notoriously difficult and elusive test of ‘proximity’ or ‘neighborhood’ can said to have been met unless very powerful public policy considerations dictate otherwise. It seems to me that no injustice will be done if they require to take the further step of considering whether, in all the circumstances; it is just and reasonable that the law should impose a duty of a given scope on the defendant for the benefit of the plaintiff … ”
The Glencar judgment involves an additional third step to the Anns’ two-step test. The question must ask as to whether it is just and reasonable to impose a duty of care. Arguably, this may be no different than the policy considerations inherent in the two-step test. However, it adds the third hurdle for litigants to overcome. The Glencar judgment is in line with the approach favored by the English courts.
Duty of Care Law difference between English and Irish Approaches 2000 words Essay; Image by LEANDRO AGUILAR from Pixabay.
References; The duty of care. Retrieved from https://www.lawteacher.net/free-law-essays/tort-law/the-duty-of-care.php?vref=1
Employment Bond Meaning and Definition with 3100 words Law Essay; It is generally a settlement between the employer and employees and is as a result problem with the supply of the Indian Contract Act, 1872. It is an employment bond with a bad covenant. Employment agreements commonly allow and are legally enforceable in India underneath diverse Indian Laws; if both the events to the agreements supply their free consent to it without any fraud, coercion, mistake, undue impact, and misrepresentation. Also, the settlement has to be affordable and legally enforceable.
Here is the article to explain, Bond of Employment, Meaning, and Definition with 3100 words Law Essay!
An employment bond usually consists of clauses that country the minimum duration wished for the worker to work for the company; and, if any worker violates this clause then this will bring about repayment; which must pay via the worker to the employer or employer. Also, they may additionally limit a worker to paintings for some other organization whilst; he/she is working for a selected company or organization.
Introduction;
With the system of civilization, the economic system and commercial process have modified plenty; and this resulted in extra business opposition within the market. To keep balance with the method and deal with the crowning glory inside the market industries; companies have adopted several strategies to promote their business effectively. On the other hand, personnel often depart their company after a positive length and after gaining their abilities; and expertise in a particular subject of a place to get higher benefits from other new groups. This technique leads groups to financial losses. For this reason, to defend the interest and goodwill of the organization, employment bonds have been needed to bring. But the employment bond does not best protect the hobby of the corporation but additionally those of the employees.
Enforceable or Unenforceable;
All of us are aware of the high attrition rate prevalent in knowledge industries particularly, Information Technology (IT). Wherein a company recruits fresh graduates and provides them intensive training for executing a particular project. After a few weeks or months, however, many of its recruits resign. The company had to recruit some more employees and repeat the training program to complete the project, incurring a lot of expense. This scenario is something everyone in the IT industry is familiar with. Employee bond a practice used by various companies to safeguard the interest it has in its employees, after expending time and training? In this article we cover what is an employee bond, to what extent it is enforceable, remedies companies can seek, and defense options before an employee.
Enforceable or Unenforceable in Indian Law?
The present write-up concerns one of the major employment issues in the contemporary world i.e. employment bonds. The signing of an employee bond is almost a norm nowadays in the present industry. The employment bonds levy certain restrictions on the employees be it not to join a particular company after leaving the job; or, the paying of monetary penalty for leaving the job before the stipulated period. The present attrition rate in the industry particularly IT means that the money garnered through this method (employment bond) is very huge. Also, the terms of the bond are a major issue with people in taking up a particular job or not. Thus we look at the various measures which make the bond enforceable or otherwise not.
What is an Employment Bond? Meaning and Definition;
The Employment Bond is an agreement which the company and the employee enter into; which among the other terms contained therein states that in consideration of the training given to the Employee; and the money spent by the company in imparting such training; the Employee will remain in the services of the company for a particular period. In case the Employee breaches the provisions of the Agreement; the Employee will be liable to pay a certain sum of money, be it the expense incurs by the company in the training of the Employee.
In the particular case where the company feels that the Employee may not be able to pay the amount; the company has a Guarantor who guarantees that; they would take responsibility to ensure that the Employee adheres to the terms of the Bond. In case of a breach, the Guarantor will be jointly liable to pay the Bond amount to the company. The Bond may also contain confidentiality and non-competition clauses. The legality of the Bond shall depend upon whether there was a consideration in the form of training or otherwise.
Our issue of contention is whether such bonds are legally enforceable or not. The contractual clause takes up in the Contracts Act, 1872. The Contract Act states that such a contract might be legal even; if it levies certain conditions and restrictions if the mentioned restrictions are valid and reasonable. Whether
Law Essay Part 01;
As per the Act, a “contract” is an agreement enforceable by law. The agreements not enforceable by law are not contracts. An “agreement” means “a promise or a set of promises” forming consideration for each other. And a promise arises when a proposal accepts. By implication, an agreement is an accepted proposal. In other words, an agreement consists of an ‘offer’ and its ‘acceptance’.
An “offer” is the starting point in the process of agreeing. Every agreement begins with one party making an offer to sell something or to provide a service, etc. When one person who desires to create a legal obligation, communicates to another his willingness to do or not to do a thing, to obtain the consent of that other person towards such an act or abstinence, the person says to be making a proposal or offer.
An agreement emerges from the acceptance of the offer. “Acceptance” is thus, the second stage of completing a contract. An acceptance is an act of manifestation by the offeree of his assent to the terms of the offer. It signifies the offeree’s willingness to secure by the terms of the proposal communicate to him. To be valid an acceptance must correspond exactly with the terms of the offer; it must be unconditional and absolute and it must communicate to the offeror.
Law Essay Part 02;
An “agreement” is a contract if “it made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object, and does not expressly declare to be void”. The contract must be definite and its purpose should be to create a legal relationship. The parties to a contract must have the legal capacity to make it. According to the Contract Act, “Every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of a sound mind, and is not disqualified from contracting by any law to which he is subject”. Thus, minors; persons of unsound mind, and Persons disqualified from contracting by any law are incompetent to contract.
Hence a case where the company has spent a lot of time and money in training the Employee in return for which the Employee signs a bond for 1 year would see as a reasonable restriction. The same however cannot say in a case where the company without giving any consideration requires the Employee to sign a bond period.
Law Essay Part 03;
As stated above the Bond may also contain a stipulation that a certain amount has to pay in the case where there is a breach of the provisions of the Bond. This sum which fix under the contract called “liquidated damages”. However, under Indian law, the courts will not automatically grant the liquidated damages merely because it stipulate in the contract. The court will grant compensation only if the company has suffered a loss as a result of the Employee’s early termination of the contract.
Hence the company which goes to court should prove that it has suffered a loss to the extent of its claim to get that amount, though it has been fixed under the contract. This could be easier in cases where the company has records to show that; it has incurred expenses for providing training to the Employee and that the Employee has left in the middle of a project etc. However, the company cannot get an amount higher than that fixed under the contract.
Law Essay Part 04;
Another issue at this stage is whether the company can seek any remedy; which seeks to prevent the Employee from taking up employment with a competing company. Generally, the courts will not grant an injunction that will force the Employee to either work for a particular employer or remain idle. However, a company to protect its trade secrets or confidential information may obtain an order from the courts to prevent its ex Employee from divulging such information to his/her new employer. Again, the company will have to prove that its ex Employee had access to such information and that there is a possibility of such information being leaked.
This brings us to the topic of what course of action a company must follow when an Employee breaches the condition of the Employment Bond. The first thing the company must do is issue a legal notice calling upon the Employee to report for duty immediately, failing which the notice should call upon the Employee to pay the sum agreed to in the Bond.
Law Essay Part 05;
A demand notice for the bond amount should be issued to the Guarantor also. Should the Employee fail to pay the amount a suit may file in the Court of appropriate jurisdiction to recover the amount due. Remember that in case there is a Guarantor to the bond, the person can make a party to the suit.
Various defenses may take by the Employees when a case Institut against him/her. Some of the more common ones are that there was no training imparted to the Employee and therefore the company does not entitle to the bond amount. The Employee might also state that she/he was forced to sign the Agreement without being able to understand the contents of the Bond. The Employee may also state that the Bond violates the provisions of the Contract Act as it imposes unreasonable restrictions on a person’s trade or profession.
As per Section 74 of Contract Act, 1872;
Compensation of breach of contract where penalty stipulated for:
When a contract has been broken, if a sum named in the contract as the amount be paid in case of such breach, or if the contract contains any other stipulation by way of penalty, the party complaining of the breach entitles, whether or not actual damage or loss or proved to have been caused thereby, to receive from the party who has broken the contract reasonable compensation not exceeding the amount so named or, as the case may be, the penalty stipulated for.
Explanation;
A stipulation for increased interest from the date of default may be a stipulation by way of penalty.
Explanation: When any person enters into any bail bond, recognizance or another instrument of the same nature or, under the provisions of any law, or the orders of the Central Government or any State Government, gives any bond for the performance of any public duty or act in which the public interest, he shall be liable, upon breach of the condition of any such instrument, to pay the whole sum mentioned therein.
More thing 01;
Article 19 of the Indian Constitution talks of fundamental rights, as per Article 19 the Constitution the written work is a fundamental right, and under no circumstance do the Fundamental rights under Article 19 waive by any person nor can any person be forced to do something that amounts to the violation of the rights mentioned under Article 19.
As per the Indian Contract Act contracts entered between two parties are one-sided then such a contract would be null and void. Most of the Bonds are one-sided.
Again as per the Indian Contract Act, no contract can enforce on any person if the contract which is being so enforced causes any harm to the person on whom it is enforced and if performed would violate principles of natural justices.
As per Sec 368 of the Indian Penal Code if any person or institute holds back any document or any use any legal document or threatens any legal suits or actions and thus forces a person to perform any act against his wishes or which is illegal or wrong as per the statute of Law of the land.
Sec 368 of the Indian Penal Code talks about extortion by threatening to file a legal suit. The minimum punishment under this act is 2 two years.
More thing 02;
The Supreme Court of India has clearly stated that no employee can forcefully employ against his will, just because he has signed a contract with the employer.
The court also has stated that the employer cannot hold back any personal documents of the employees as they earn by the employees and the company has no claim on the same.
Any complaint about the company would land the Directors and Managing Directors of the company in Jail, as the company is not an actual living entity but a legal entity and the management are hands and heads of the company.
Bonds are applicable only if the company has spent money on the personal grooving and enhancement of the employees, but not just training that helps employees perform better.
The effectiveness of these defenses varies from case to case. If the Employee can prove that there was no consideration for the Bond in the form of training etc. then in such cases s/he will not require to pay the Bond Amount.
Company has an Employment Bond;
Therefore a checklist when a company has an Employment Bond is:
Ensure that the Bond period is reasonable
Ensure that the Non-competition clause is not unreasonable
Also, Ensure that the Bond Amount is reasonable and reflects the expenditure of the company on the Employee
Ensure that there is training material that can produce to prove in Court that the Employee was given training.
Ensure that there is a confidentiality clause to ensure that the company’s trade secrets protect.
As per the Indian Statute bonded labor system was long abolished and no bond can force any person to work against the employee’s wishes.
Employers require to give employees written particulars of employment. These particulars should include all the legal requirements or consist of a letter of appointment with minimal information plus reference to additional material that defines the conditions of employment.
Many employment contracts contain only vague references to the “policies and procedures to which the employee will be bound”. The employer should provide the employee with all of the company policies and other documents that relate to the contract or refer to in the contract.
Checklist for Employee Contract:
Does the contract/letter of your organization consist of the following details:
CONTRACT DETAILS;
Full name of employer and employee
Address of employer
Place of work of the employee, and, where the employee require or permitted to work at various places, an indication of this
Additional benefits, and any conditions under which they apply, e.g. achievement of targets
Pension scheme whether one exists, and if so conditions
Approvals for any deductions from pay, e.g. pension scheme other than those required by law
NATURE OF CONTRACT;
Type of contract: permanent, temporary, fixed term
Duration of a temporary contract or termination date for a fixed-term contract
Period of notice required to terminate employment, or if employment is for a specified period, the date when employment is to terminate
HOURS OF WORK, SCHEDULES, AND OVERTIME;
The number of hours in the workweek and workday.
Procedure for scheduling.
Alternative work schedules/flex time.
Definition of overtime & pay or compensatory time off
Advance notice of overtime & right to refuse overtime
Staffing and workload standards.
Meal and rest periods.
Timekeeping and attendance requirements
LEAVES;
Annual leave entitlement
Role of seniority in scheduling vacations.
Conditions relating to taking leave, e.g. present company holidays or notice requirements
Details of any other paid leave entitlements
Sick leave arrangements and conditions of any benefits
DISCIPLINARY PROCEDURES;
Details of the disciplinary procedure
Conditions under which the employer can terminate the contract e.g. gross misconduct
GRIEVANCE PROCEDURE;
Definition of a grievance.
Stewards’ right to use work time for grievance investigations.
Employees’ right to union representation.
Explanations of each step in the grievance procedure and time limits at each step.
HEALTH & SAFETY;
Employer and employee responsibilities
PROTECTION OF BUSINESS INFORMATION;
Details of confidentiality requirements
Use and misuse of electronic communications and Internet
ABOUT PROBATION PERIOD;
Purpose & duration of the probationary period
Benefits that will come into effect when the probationary period completed
PERFORMANCE EVALUATION;
Criteria & frequency for evaluations.
RETIREMENT POLICY and ANY OTHER CONDITION, like;
Any collective or 3rd party agreement which affects the employee’s terms and conditions
UNIFORMS AND TOOLS;
Allowance for or provision of uniforms and/or tools for affected employees.
ACCEPTANCE;
Acceptance clause whereby employees sign that they accept the contract of employment and conditions therein
In a nutshell, if the bond is a valid contract, the company may go to court.
However, any action on the part of the company e.g. retaining the original educational certificates/ creating any kind of impediments for the concerned employee to join a job(i.e. to earn)/ manhandling with the concerned person, etc. will adversely mar the cause of the company. Also, the amount of compensation a company can claim must be commensurate with the loss caused, and not more. I don’t feel that asking for last year’s salary is one of them.
Any conditions which violate the fundamental rights as defined in the constitution / are not tenable in the eyes of law will again mar the validity of the bond. There are conditions that both parties need to fulfill while executing the contract. Contrary to that bond in question cannot say to exist as a legal contract.
Employment Bond Meaning and Definition with 3100 words Law Essay; Image by Franz Roos from Pixabay.
References; Employment Bond: Enforceable Or Unenforceable in Indian Law?. Retrieved from https://www.lawteacher.net/free-law-essays/employment-law/employment-bond-enforceable-or-unenforceable.php?vref=1
Examples and Summary of the Data Protection Act 1998 Essay; DPA 1998 is the main piece of regulation that governs the protection of private information in the UK. It applies to statistics hung on each computer and paper so long as, inside the latter case, the facts stand held in an applicable guide submitting gadget. The DPA gives any individual the right to know what data an agency holds approximately him/her and sets out regulations to make sure that this record treats well. The Act regulates by the Information Commissioner’s Office (ICO).
Here is the article to explain, The Data Protection Act 1998 Examples, Summary, and Essay!
The Data Protection Act offers people the proper access to facts approximately themselves that’s held through a business enterprise and sets out how personal information has to accumulate, stored, and process. It isn’t strictly approximately publishing but cover here for completeness as it governs getting entry to facts, albeit personal records. It ought to take into consideration whilst records post as it limits what private records may make public too had and the facts which may launch below FOIA. Data protection law best applies to residing individuals which is why getting admission census statistics authorized after a hundred years or slightly earlier as has been the case with the 1911 Census in England.
The Data Protection Act 1988 Examples and Summary, creates a series of rights for people about data held about them, and also a mechanism (the Information Commissioner) to enforce those rights. It sets out a series of data protection principles that have now stood the test of time.
The eight data protection principles set out in schedule 1 of the Act.
These eight principles are that personal data should process fairly and lawfully (principle 1); that data must obtain and process for a specified and lawful purpose (principle 2); it must be adequate, relevant, and not excessive (principle 3); also it must be accurate and kept up to data (principle 4); it must keep no longer than necessary (principle 5); the rights of data subjects must respect (principle 6); it must appropriately protect (principle 7); and, it must not transfer outside the EU unless it is to a country that also requires data to protect (principle 8).
Schedule;
Data under the Act give a wide definition and includes not only electronic data but; where it exists held by a government department, includes any data that they held. Personal data, which the Act primarily relates to, is a subset of this and includes data linked to an individual. It is this data that is the subject of the data protection act 1998 examples and summary principles.
When personal data process several conditions apply, which make out in schedule 2 to the Act. The first condition is that the data subject (the person the data is about) must consent. The second condition is that the processing is necessary. The schedule provides several different ways in which the processing may be necessary. The most common one is that it is necessary for the legitimate interest of the data controller.
If the data is sensitive personal data then further rules apply which exist set out in schedule 3. Sensitive personal data is related to a person’s race, politics, religion, union activities, physical or mental health, sexual activity, or criminal offending. Schedule 3 requires that if any of these apply then there must be explicit consent from the data subject. It also has a much more limited set of criteria that can satisfy the necessity test; they must ensure that the rights and interests of the data subject exist protected, and there are restrictions on the disclosure of the information.
Summary;
Although the rules summarised above are the general principles there are several exceptions to these. These exist to set out in part 1V of the Act. There are exceptions (of varying degrees) in the interests of national security, crime, health, journalism, research, and parliamentary privilege (amongst others). For national security and law and orders matters, the exemption is absolute, but for others such as journalism, the exemption is much more limited and requires the journalist to satisfied that there is a public interest in the publication.
A key way that the Act goes about ensuring compliance with the principles is by giving individuals the right to access data that exists held about them. This right finds in section 7 of the Act. Any person may submit a written request to any data handlers, and once they do they exist entitled to be told what data exists held about them and how it stands being processed.
Data controller;
The data controller exists entitled to charge a fee for providing this information (subject to a maximum amount allowed by parliament) and they do not have to provide the information where to do so would be to breach some other person’s privacy. The basic principle however is that a person should have the right to know exactly what information exists held about them. Further, the Act also gives a person the power to insist that their data do not process if to do so would cause them unjustified distress. The ultimate method of ensuring compliance with the data protection principles rests with the Information Commissioner.
The role lived originally entitled the Data Protection Commissioner; but, it existed renamed in 2010 to ensure a more accurate description of the role. The Commissioner employs a staff of advisors, lawyers, and enforcement officers and produces regular compliance reports. They have several powers that they can use to enforce compliance. These include serving information notices requiring the provision of information, imposing undertakings on organizations to compel them to amend offending behavior, serving enforcement or stop notices, imposing fines, or bringing criminal prosecutions.
The Computer Misuse Act 1990;
The Computer Misuse Act 1990 shows the difficulties that any legislature has in providing a comprehensive set of rules for a technology that is developing at pace. When the Act stood passed personal computers were calculating machines, and most homes did not have one. They bore very little resemblance to the machines which are commonplace today. Nevertheless, because of problems with the existing law, it lived felt that a comprehensive computer misuse Act existed required.
Limitations;
The limitations of the existing law were already being felt in fraud offenses. Under the Theft Act 1968 and 1978, a fraud had to deceive a person; and where processes existed being carried out entirely by computer then a lacuna developed. (Under the Fraud Act 2006 this is no longer an issue as it is the intention of the actor rather than the impact on the victim which is determinative of a crime).
The Computer Misuse Act 1990 has its genesis in a working paper published by the Law Commission in 1988. This was primarily concerned with the offense of hacking, although that particular phrase was not in use at that time. The question that the Law Commission posed was whether the behavior that would not otherwise be an offense should become an offense simply if it existed done using a computer. For instance, in other areas of life, the gaining of confidential information or industrial espionage would not treat as criminal offenses. The question that the Law Commission had posed was whether or not a special case could make out for computers. They concluded that it could, and this formed the basis of their proposed legislation.
Proposals;
The Law Commission publish their proposals in 1989, and their general approach lived extremely well received. However, they were extensively lobbied by groups on behalf of banking and commerce, and by computer and software manufacturers. As a result, they also proposed two further offenses which existed also included in the 1990 Act. These have proved much more problematic. Unfortunately, the technology advanced at a rate of notes and left the legislation well behind.
There have been various attempts to amend the sections but they have been of only limited success. For instance, denial of service attacks are not easily caught within the computer misuse act; and yet these are some of the most common forms of computer misuse that now exist. The problem is that the World Wide Web had not yet been invented at the time that the Act stood passed; and, no one appreciated the life-changing impact that this would have for all communities.
It should note that the Act does not at any stage attempt to define a computer. This is undoubtedly a very sensible approach as any definition would very rapidly risk being overtaken by fast-moving technological developments.
Section 01;
Section 1 of the Act seeks to make hacking an offense. This makes it illegal for anyone to operate a computer with intent to secure access to the data on it; and where he knows that he does not permit to have access. Since the Act existed passed the trend has continued for more and more material to store on computers, and yet such attacks continue.
The Act does not require that the defendant has any particular motive in hacking into a computer. The men’s rea is simply that they knew that their entry stood unauthorized and that they were intending to gain access. This can justified because of the expense that the owner of the system might exist put into protecting their system. It is worth noting that accessing equipment recklessly would not amount to an offense. An offense under this section carries a maximum of two years imprisonment.
Section 02;
Section 2 of the Act creates an aggravated version of the basic offense; where the unlawful access was to carry out any further offense; which can carry a maximum prison sentence of five years or more. That further offense does not need to carry out using a computer.
Section 03;
Section 3 of the Act, as it now stands, creates an offense of carrying out an unauthorized act with intent to impair the operation of a computer. There is an alternative offense under the same section of carrying out the act recklessly. This section stood developed as criminal damage only really applies to physical damage, and electronic destruction or obstruction would not cover by that. Section 3ZA, which stood inserted by the Serious Crime Act 2015; creates an aggravated version of the offense where there is a risk of serious damage.
Finally, terms of offenses under the Act s3A, which stood inserted in 2006; make it an offense to make, supply, or obtain items to use in committing the other offenses under the Act.
The Data Protection Act 1998 Examples Summary Essay; Image by LEANDRO AGUILAR from Pixabay.
References; The Data Protection Act 1998. Retrieved from https://www.lawteacher.net/acts/data-protection-act-1998.php?vref=1
Sale of Goods Act 1979, under Sections 12, 13, 14, 15Essay, Summary, and History. What is the Sale of Goods Act? This act calls for goods to be as defined, of exceptional nice, and match for the cause. Fit for motive approach each for their normal reason, and additionally, any particular purpose which you agreed with the vendor (as an example, in case you especially asked for a printer that might like-mind along with your computer or wall tiles that might be appropriate to use in a restroom).
Here is the article to explain, Essay, Summary, and History of Sale of Goods Act 1979, under Sections 12, 13, 14, and 15!
Goods sold must additionally healthy any pattern you provided in-store or any description in a brochure. The best time goods don’t require to be quality high-quality is if an illness or difficulty becomes especially drawn for your interest earlier than you purchased them. So, in case you tested the goods and could observe (however did not do so) that they have been no longer of first-class quality. Or, in the case of sale by sample, if the lack of excellent would have been obvious on an inexpensive examination of the sample, you would no longer be capable of arguing that the goods have been not of excellent pleasant.
Introduction;
This summary examines the Sale of Goods Act 1979 (“the Act”) within its context: why it existed and drafted. What are its important provisions, and how it has changed since it came into force? More to know Antitrust Law Case Study. It submitted that the Sale of Goods Act 1979 has been part of a change in consumer dealings, with its most significant contributions being to the rights consumers have when they buy products that turn out to be faulty. Indeed, its use has been so central to implied terms in particular, that one author criticized for failing to see the contribution of the Act to the law of implied terms. At the same time, the Act’s importance has to an extent been diminished by the introduction of very recent legislation.
The rationale for Drafting;
The Act codified various provisions, such as the formation of a contract. Which was already prevalent and well-established in the common law. However, its contribution was to enhance consumer confidence. It argued that without the Act, and its successors, there would be little protection for consumers. This imbalance of consumer rights would lead to significant caution and even “defensive consumerism”.
If consumers believe they have few rights when purchasing goods, then they are slow to trust newer and less-familiar brands and will continue to buy goods from established brands, even where those goods lack quality. Therefore, if the legislature does not guarantee certain minimums for consumer confidence, competition would suffer. In summary, the Act stood brought about due to a concern for protecting consumer rights. Thereby promoting consumer confidence and increasing competition amongst producers.
Provisions of Note;
The Act was recognized for its contribution to the law of implied terms. Sections 12, 13, 14, and 15 guide the existence and scope of implied terms relating to title, quality, sale by description, and sale by sample. It submitted these sections are central to any considerations about implied terms.
Section 14;
It is important because of its use of several concepts. First, it implies several terms in all contracts, those terms being that the goods are of satisfactory quality. Which is evaluated by reference to the “state and condition” of the goods? Second, the section contains an important proviso: the terms only imply when the sale conducts “in the course of a business.” The “valuable decision” of MacDonald v Pollock – a Scottish case which nevertheless provides important guidance for applying the Act across the UK – has recognized this section to have far-reaching consequences for business-to-consumer and business-to-business transactions, because the definition of a business is now a material issue.
Section 15A;
It refers to remedies for breach of conditions in non-consumer cases. This section says a buyer may claim for breach of warranty, but not repudiate a contract, where “the breach is so slight it would be unreasonable for [the buyer] to reject [the goods].” This section has been argued as “central to elements of commercial practice” – as in one case – to concepts of description, condition, and rejection.
The Act makes other specific additions to contract law designed to protect specific consumers. Section 3 of the Act gives detail about “necessaries” purchased by a minor. According to that section, necessaries – defined as “goods suitable to the condition in life of the minor and to his actual requirements at the time of sale and delivery” – must sell/purchase at a “reasonable” price. That section also requires a reasonable price must pay by a person who “because of drunkenness is incompetent to contract.”
In conclusion, it submitted that the Act has codified the law, and provided guidance on various miscellaneous issues. And has been most significant for its contributions to consumer protection and commercial practice through implied terms.
Redefined and Repealed;
First, the Act and its place in consumer dealings stood further expanded on by subsequent legislation, in particular the Unfair Terms in Consumer Contracts Regulations 1999. These Regulations have added “to the consternation of UK lawyers”, the requirement by businesses to show good faith. This is a form of dealing which often seen in Continental European jurisdictions. But much less often in English law, which has “freedom of contract” as its object. Due to it not being part of English jurisprudence, the concept of good faith “remains early”. Nevertheless, these legislative developments have been accommodated, if only to some extent. Because of the detail given by the Act to implied terms.
Scope;
The Act has also been recently subjected to a reduction in its scope. The Consumer Rights Act 2015 (“the 2015 Act”). Which came into force in October 2015, and repealed a significant portion of the Act. The Act formerly had provisions relating to unfair terms of the contract in dealings vis-à-vis consumers and businesses. All of those provisions have now been repealed and replaced by the 2015 Act. Importantly, the 2015 Act has enshrined consumer protections relating to digital content.
On the one hand, these changes are significant: the 2015 Act has introduced these protections. Because of issues relating to digital content, such as methods of delivery to smartphones. And the purchase of apps lived not envisaged at the time of the Sale of Goods Act. To a degree, therefore, the 1979 Act retains stood superseded. However, the Act still provides important concepts: the 2015 Act has principles of quality. And fitness for purpose is very similar to the 1979 Act. Therefore, the Act continues to be relevant.
Conclusion;
It submitted the Act has been part of and has helped to develop consumer protection. It has been part of an effort to boost competition by giving consumers certain assurances about their rights when purchasing from businesses (hence why the definition of a “business” is such an important issue). To an extent, subsequent developments have introduced concepts to consumer-to-business dealings that existed not envisaged in the Act. Nevertheless, it submitted these developments were only possible, at least in part, due to the foundations of the Act and its provisions relating to implied terms.
Sale of Goods Act 1979 Sections 12 13 14 15 Essay; Photo by Pixabay from Pexels.
References; Sale of Goods Act 1979. Retrieved from https://www.lawteacher.net/acts/sale-of-goods-act-1979.php?vref=1
Antitrust Law US Essay 8 Case Study; Any regulation restricting enterprise practices considered unfair or monopolistic. The United States has the longest-standing policy of keeping opposition among business establishments via a spread of legal guidelines. The quality recognized is the Sherman Antitrust Act of 1890, which declared unlawful “every agreement, aggregate . . . Or conspiracy in restraint of exchange or trade.” Another important US Antitrust law regulation, the Clayton Antitrust Act of 1914, as amended in 1936 via the Robinson–Patman Act, prohibits discrimination amongst clients via costs or other ways; it also prohibits mergers of companies, or acquisitions of 1 firm using every other, on every occasion the effect can be “to substantially reduce competition”.
Here is the article to explain, 8 Case Study of Antitrust Law US Essay!
Many international locations have vast laws that defend purchasers and also alter how agencies function their agencies. The purpose of those legal guidelines is to offer an equal gambling subject for comparable corporations that function in a specific enterprise while stopping them from gaining an excessive amount of energy over their competition. Simply placed, they forestall businesses from gambling grimy to make an income. Also, These are called antitrust laws.
What is Antitrust?
Antitrust laws are policies that inspire opposition with the aid of restricting the market electricity of any precise company. This frequently includes ensuring that mergers and acquisitions do not overly listen to marketplace power or form monopolies, in addition to breaking apart corporations that have become monopolies.
Antitrust laws also prevent more than one corporation from colluding or forming a cartel to limit opposition thru practices that includes price-fixing. Due to the complexity of figuring out what practices will limit opposition, antitrust regulation has ended up a distinct prison specialization.
What are Antitrust Laws?
Antitrust legal guidelines additionally known as competition laws are statutes evolved through the U.S. Authorities to shield consumers from predatory business practices. They ensure that honest opposition exists in an open-market financial system. These laws have advanced in conjunction with the market, vigilantly guarding in opposition to might-be monopolies and disruptions to the productive ebb and waft of opposition. Antitrust laws are implemented to an extensive variety of questionable business sports; along with but are now not constrained to marketplace allocation, bid-rigging, rate-fixing, and monopolies.
Below, we take a look at the activities those legal guidelines guard against. If antitrust law didn’t exist, purchasers might no longer benefit from different alternatives or competition within the US market. Furthermore, customers could be pressured to pay higher charges and could have gotten entry to a confined supply of products and services.
6 Main factors of US antitrust law;
Antitrust laws are statutes evolved by using governments to guard purchasers against predatory business practices and ensure fair opposition.
Antitrust laws are implemented to a wide variety of questionable commercial enterprise activities along with market allocation, bid-rigging, price-fixing, and monopolies.
Core U.S. Antitrust law become created with the aid of three portions of legislation: the Sherman Anti-Trust Act of 1890, the Federal Trade Commission Act, and the Clayton Antitrust Act.
Antitrust legal guidelines had been designed to defend and also promote opposition within all sectors of the economic system.
The Sherman Act, the Federal Trade Commission Act, and the Clayton Act are the three pivotal laws in the records of antitrust law.
Today, the Federal Trade Commission, from time to time at the side of the Department of Justice, is tasked with imposing federal antitrust legal guidelines.
Case 1: Write a 100- word abstract of the case, including the date of the case.
The essay gives a brief analysis and review of a case in which the government of the United States led to the U.S. Supreme Court. This is the defense of the claim appeal 384 U.S. competition 270 presented by the U.S. government against VON Grocery Co. (Von) in 1966 in the District Court of the United States for the Southern District of California No. 303. The duration was March 22, 1966, and the delivery of a verdict was May 31, 1966. It was in favor of the defendant.
This just reminded demand, government regulators were ignoring situations that occur within its jurisdiction. It was despite his knowledge of the changing developments in market structures that controlled processes. Government regulators failed to switch to a relaxed mood compared to previous legislative procedures necessary reacted to the threats and opportunities of his time. As a result, this led to the prevention of unfair trade practices or disposal of similar economic activities of small-scale businesses.
Case 2: Describe the provision of the US Antitrust Law invoked to judge the presence of anti-competitive behavior or potential for moving the industry in that direction.
The 1960 merger of Von Grocery Company with competitor Shopping Bag Food Stores (Shopping Bag) whose locations are in Los Angeles, California violated Section 7 of the Clayton Act (n. P Thomson Reuter). Its amendment in 1950 regulates the reasonable termination through the prohibition of mergers and acquisitions, which decreased competition. Even after a new amendment in 1980, remains the main reference point for antitrust law mergers that threatened the US United States (Fox & Fox).
Case 3: Describe the basis for the ruling and action that pertains to all OR some of the following factors: The extent and trend in competition and expected in the future: Industry Structure and trend and projection for the future [based on the past, mostly]; CR4, CR8, and HHI, especially in cases of mergers.
The claim of the United States had other modifications as support for their arguments. They were the 1950 amendment to Section 7 of the Celler-Kefauver and Congress sought to preserve competition for small businesses. Stood also intended to help companies focus. Also, The court was the agent that was against large companies that use concentrations in markets with increasing centralization of business. He succeeded in divesting after United States v. Philadelphia National. . Bank, 374 U.S. 321 Celler-Kefauver 362 Anti-Merger Act 1950 as amended provides relevant information:
“That no company engaged in commerce … shall acquire all or part of the assets of another company also engaged in commerce, wherein any line of commerce in any part of the country, the effect of such acquisition may be substantially to lessen competition or tend to create a monopoly. “
Case 4: Describe the “conduct” in question that has been considered “anti-competitive:” Determine if the defendant had used an anticompetitive Price Strategy and explain how. Likewise, describe any Non-price Strategies the defendant had used and describe how.
In investing 233 F. Supp. 976 Richard A. Posner was counsel for the United States. Your tips helped were Attorney General Marshall, Assistant Attorney General Turner, Robert B. Hummel, James J. Coyle, and John F. Hughes. The defense attorney was William W. Alsup. Your tips help Warren M. Christopher and were William W. Vaughn. As an interested party, the National Association of Retail Grocers of the United States Attorney Bison was Henry J., Jr., as amicus curiae, urging affirmance.
MR. JUSTICE BLACK was the judge in the case and give judgment. The date of the original application was March 25, 1960. March 28, 1960, the District Court did not grant the motion of the Government for a restraining order against Von Grocery Company. Also, The latter wanted to acquire tangible capital around the Shopping Bag Food Stores, and the ruling was that not violate the terms of demand.
It was a backdoor way of recognizing the merger and showing favoritism to the accused before final judgment. The main argument of the defense was that a company was protecting the other from the state of collapse. They merged to protect a stronger competitor. 374 U.S. 321, 362 was the claim that prohibiting such mergers. There were bank loans that may have had access to and filing for bankruptcy as financial coverage. The company achieved this when it was about to collapse. Also, He managed to regroup with the help of government agencies and private financial consultants.
Case 5: Describe the effect of the defendant’s “conduct” on other firms (or the main rival) in the industry.
Von was the third-largest grocery market in the retail area, Los Angeles, on sales; while the shopping bag of food was number six in 1958. Their 1960 joint sales rose 7.5% an annual output of two and a half million. Your Los Angeles market seemed too small a part of their market to the government to fight. However, if the top ten companies had double combined; also their total market share could have been about a third of the retail market of Los Angeles.
To be fair to these stores, which had begun as the outgoing neighborhood store many Americans of his generation knew. Ten of the previous twelve years to the merger, the number of stores has increased to a little more than twice their number. The other positive numbers include increased sales and market share. Its merger positioned the number two supermarket chains in Los Angeles. Meanwhile, the discovery of individual owners of tennis shops in Los Angeles dropped by nearly two-fifths. In 1963, the numbers continued to decline.
The government witnesses lacked a thorough analysis of the facts and figures that the defense had in its possession. For example, from 1949 until 1958, nine of the top 20 competitors chains came into possession of 126 stores smaller rivals. An important defense witness gave details of previous acquisitions and mergers from 1954 to 1961.
They were in the top 10 stores in Los Angeles. Also, You might consider this as an ordinary person and discriminatory legal action. They should also have ground The nine competitors target rivals for smaller parties to legal action. However, the union of the two powers of the financial market was a threat to government control in the area of Los Angeles. The government reported data in its reply, the Federal Trade Commission prepared.
Case 6: Describe the initial legal action taken against or in favor of the defendant.
The initial legal action taken against the defendant is that the US government accused Von’s Grocery Company of violating Section 7 of the Clayton Act because it was an attempt to create a monopoly. The company appealed and the District Court ruled in its favor. Also, it is important to mention that the government made accusations against the company; because it wanted to purchase a smaller competitor in the retail grocery market that was called Shopping Bag Food Stores.
Case 7: Describe any subsequent legal action in the case (such as the Supreme Court), if any.
Once the case was resolved there was no subsequent action taken. The decision on the case was repealed by the District Court and Von’s Grocery Company could merge with, and subsequently absorb Shopping Bag Food Stores.
Case 8: Carefully describe how the model of Structure-Conduct-Performance has been applied in the case under consideration.
The history of the struggle against mergers in the United States began in 1890. At that time, Congress passed the Sherman Act to prevent monopolies. Distrust of Americans back to the founding of the country. Unfortunately, did not protect the smaller companies businessman larger monopolistic pressures. In 1897, the Court ruled that the U.S. government was against Trans-Missouri Freight Assn., 166 U.S. 290, 323. In [384 U.S. 270, 275], the Sherman Act did not protect the small businessman.
Congressional approval in 1914, 7 of the Clayton Act allowed the merger of corporations through the purchase of shares of its competitors. By contrast, business people find a loophole and buy their opponent’s assets. A blow to the fight against the Clayton Act device came with the endorsement of Judge Brandeis, Taft chief justice, and judges Holmes and Stone in 1926. As a result, there was a reduction in the number of large companies.
More things 01;
The action existed in 1950 Congress adopted the Celler-Kefauver Anti-Merger Act. Representative Celler and Senator Kefauver’s main references were 384 U.S. lawmakers 270, 276 for the period 1940-1947. They used the Brown Shoe Co. v United States, 370 U.S. 294, 315 to argue their points. They and other members of Congress had the same concerns. In contrast, 7 of the Clayton Act had stamps in their lagoon and extended its coverage using 384 U.S. 270, 277. Evacuation This involved mergers between competitors and stop all instances of mergers.
More things 02;
The U.S. v National Philadelphia. Banking led to Amendment 7 to cancel the anti-competitive tendencies. 384 U.S. 270, 279 is another case of reference that allowed the passage of the Celler-Kefauver Act. In United States v. El Paso Gas Co., 376 U.S. 651, 662 defendants El Paso Gas Co. were notified of antitrust charges and declined to postpone divestment from the beginning. Moreover, these two other similar cases of the United States v. du Pont & Co., 366 U.S. 316; United States v. Alcoa, 377 U.S. 271, 281 are pre-trial demand 384 U.S. 270, 303 which stood subjected to analysis.
More things 03;
Decisions of typos with the figures presented in court said the government ran a presentation to meet with any person or body quirks. The government regulator requires constant awareness of the impact of legislative developments and industry trends and ongoing. There is the need for external consultants to give their objective on huge demands especially in unknown actions reviews. In such cases, the now useless but necessary demand requires more in-depth research, planning, analysis, and the reality of how to fight cases misunderstood using antitrust laws. Also, This implies compulsory receive expert help to train the executors. This paper has emphasized that the demands of the past are benchmarks for current and future cases and judgments.
More things 04;
Upon focusing on how the SCP paradigm lived applied in the case being considered; the first thing to note is that during the 1950s and 1960s; the grocery retail industry stood characterized by ownership concentration. In other words, fewer and fewer owners started to own more and more stores (which they would go and absorb from smaller competitors). The structure and conduct of the market we’re going in the direction of fewer competitors of larger sizes. In the particular case of Von’s Grocery Company, it may see that its sales; when combined with the sales of Shopping Bag Food Stores, represented 7.5% of the total dollar amount of retail groceries sold per year in Los Angeles.
Combining this fact by the fact that between the late 1940s and the late 1950s both businesses involved with the merger had doubled in size (measured by the number of retail stores owned by each), and that the trend was going in the direction of larger (and fewer) competitors; it was decided that there was no violation of Section 7 of the Clayton Act. In sum, it was decided that there was no attempt of creating a monopoly; but rather a strategic decision imposed by the market.
8 Case Study of Antitrust Law US Essay; Image by Vural Yavaş from Pixabay.
References; Anti-trust Law Case Study. Retrieved from https://www.ukessays.com/essays/law/antitrust-law-study-7718.php?vref=1
Work Accident Lawyers near me when you get any Common Warehouse Injuries in Florida, also other cities. As more and more Americans select to buy goods online, increasing numbers of Americans choose to purchase goods online, vendors have built many warehouse facilities near primary shipping routes to cater to these clients. Nearly 350,000 Americans worked in warehousing and storage facilities in 2012. This figure has increased to 1.18 million people as of March 2019 according to the BLS (Bureau of Labor Statistics). The majority of these workers employe as forklift truck and tractor operators, laborers, and material and freight stock movers and handlers. By 2026, this figure project to grow by 8%.
Here is the article to explain, Work Accident Lawyers near me for Common Warehouse Injuries in Florida!
The number of workers injured in work related accident is increasing proportionately. How much do work accident lawyers charge near me? The statistics released by BLS show that working in warehouses is dangerous for workers.
ARE JOBS IN WAREHOUSES DANGEROUS?
According to statistics from the BLS they can be:
There were 22 fatalities at US warehouses and storage facilities as of 2017, the latest year for which injury related to warehouse statistics are available.
In 2016, the recorded cases of nonfatal injuries and illnesses were 5.1 for every 100 full-time employees, which is much higher than the average of 3.2 per 100 full-time employees for all industries.
Production days were severely impacted by this above-average rate of injury. Work-related injuries including missing workdays, working with job transfers, or restrictions was 3.7 per 100 full-time employees at warehouses and storage facilities, which is higher than 1.7% for the same number of employees for all industries.
The top five injuries in warehouses occur are due to manual lifting and handling, material storage, conveyor belts, forklifts, and loading docks.
For storage facility and warehouse workers the number of cases involving DAFW (days away from work) increased by almost 3,000 between 2016 and 2017. 2017 alone accounted for 17,390 cases.
Cases due to overexertion increased by 1,352 to 8,310 in 2017. Contact with objects and equipment rose by 620 cases to 4,370, and falls, trips, or slips cases rose by 480 to 3,030.
Warehouse workers involved in material moving or transportation in 2017 incurred 12,750 DAFW cases… an increase of more than 3,100 cases from 2016.
WAREHOUSE INJURY TYPES
Injuries in warehouses can occur in a variety of ways.
FORKLIFT;
A forklift consists of a small industrial truck that storage facility or warehouse owners use to lower or raise objects like pallets or to remove or move needed goods. Depending upon the type of forklift being used, they can control by operators who walk beside them or ride them. Accidents by forklift are a common mishap in storage and warehouse facilities and amongst the leading causes of warehouse deaths and injuries. These accidents cause by both novice and experienced operators.
According to NIOSH (National Institute for Occupational Safety and Health) accidents involving forklifts are due to the environment of the workplace, the actions of the operator, and the forklift itself. Accidents involving forklifts can happen when they crush workers when they overturn or drop heavy goods and pallets during unloading and loading. Warehouse workers can fall off a forklift elevated pallet, fall between the rail and forklift on a loading dock, or even be run over by forklifts.
A couple of stats regarding forklift accidents include:
Between accidents in warehouse and those that occur in factories using forklifts, these trucks are responsible for nearly 85 deaths every year.
While the number of forklift accidents might be less the injuries they cause are more severe than other kinds of warehouse accidents. They cause approximately 35,000 accidents resulting in serious injuries per annum.
The number of less severe injuries caused by forklift accidents per year is approximately 62,000.
Overturning forklifts are responsible for 25% of all forklift accidents per annum.
OVEREXERTION;
One of the major causes of injuries at storage facilities and warehouses is overexertion, caused by overstressing the body. It limits the movements of the injured workers due to chronic pain. They occur due to doing tasks like carrying or lowering, pulling, and lifting and they generally affect the shoulders and back but can also affect knees, wrists, or arms. Workers spend lots of time each workday, working in uncomfortable and awkward positions. The BLS recorded over 8,000 overexertion injuries in 2017.
Overexertion also causes injuries like:
Muscle strains.
Neck injuries.
Tendon injuries.
Tears and sprains of muscle tissue.
Injuries to legs and arms joints.
Also, Connective tissue injuries.
Nerve injuries, and.
Heart attacks.
Not training the workers how to carry or lift heavy objects, or asking them to complete tasks beyond their physical capabilities often causes overexertion injuries.
LOADING DOCK;
Amongst the most hazardous places for employees working in storage facilities or warehouses is loading docks. According to OSHA loading docks are responsible for one-fourth of all accidents taking place in a warehouse. Also, According to estimates, there are 600 near misses for every accident.
Workers can crush between trailers and forklifts when unloading or loading goods. The average height of docks is 44 to 48 inches. It implies a fall almost always results in a serious injury. Workers can injure themselves while attempting to unload or load heavy materials from the truck to the dock and vice versa. Those working for long periods near a truck that has its engine running can suffer from carbon monoxide poisoning.
Accidents that involve the loading dock include when a forklift operator or worker is leaving or entering the truck, trucks shifting or pulling away suddenly, falling objects striking a worker or forklifts that run off the dock.
HIT BY SOMETHING
Storage facilities and warehouses contain lots of moving parts such as intensive motion around loading docks, forklifts zooming around, workers constantly moving or lifting heavy objects such as pallets full of goods.
Workers, apart from the danger of being hit with something like a forklift, have to face the danger of objects stored high on pallets shifting and falling on them. In fact “high stacking” is often the cause of severe injuries.
Human error, improper work areas, unsafe working conditions, and carelessness often cause injuries to workers by falling on them. Such impacts cause shoulder injuries like rotor cuff tear, concussions, back injuries that include lumbar disc herniations, or neck injuries.
CAUGHT BETWEEN;
According to reports by OSHA, workers in warehouses are caught between equipment pieces. They can be trapped between a forklift and a storage unit. Caught between accidents need not involve the entire body of the worker. Such accidents often take place when the worker attempts to lift goods that need the use of equipment. It results in fingers or hands being smashed between heavy objects. Also, Other similar accidents include equipment rollovers in which the forklift falls over an unguarded machine part or onto an employee. Do you need work accident lawyers when you get Warehouse Injuries? Caught between leads to injuries like:
Bruising.
Amputations.
Tissue damage.
Muscle tears, sprains, and strains.
Fractures.
Neck injuries.
Lacerations.
Spinal cord injuries.
Internal organ damage.
Also, Scalping.
Paralysis, and.
Traumatic Brain Injuries.
SLIPS AND TRIPS;
Such injuries are not as common as overexertion injuries in warehouses, but they do happen quite frequently. The BLS recorded more than 3,000 cases in 2017.
Common reasons for slips and trips include:
Inadequate lighting in poorly lit work areas, stairs or hallways.
Slippery materials like oils, powders, snow, ice, water, or granular solids.
Clutter on the floor or stairs in the workspace.
Slippery surfaces such as smooth patent metal or concrete, polished tile or stone.
Exposed or loose cables, cords, or wires.
The kind of surface on which the employee needs to work or inappropriate footwear for the workplace.
Also, Loose rugs or mats or wrinkled carpeting.
Unseen or unexpected platforms, thresholds or steps, and.
Uneven walking surfaces.
FALLS;
Falls in the warehouse takes place due to trips and slips and are the root cause of many accidents. Also, Falls is different from trips or slips. They can take place on the same level or an elevated level. Falls from ladders are dangerous as well when an employee on a ladder might not notice by another worker, coming around the corner pulling a pallet carrier or operating a forklift. Workers elevated on a forklift and trying to reach material stored on higher shelves is another common cause of falls in warehouses. Too often workers try to keep one leg on the shelf and the other on the forklift to move the material. Also, This can result in a dangerous fall if not done carefully or if the worker is inexperienced.
TRUCK ACCIDENTS;
Operators of warehouses have contracts with trucking companies to move their goods around the country. Trucking accidents can occur in loading docks or parking even if a warehouse operator has a fleet of trucks. Moving materials in and out of the trucks can injure workers. Trucks separate from the loading dock when they occasionally shift, leaving a space in which workers can fall in between or trip. Many truck drivers experience fatigue that affects their awareness and attention as they are backing into loading bays. Workers in loading areas might injure due to this.
Forklift operators face problems when working around trucks as they move heavy consignments in and out of trucks on loading bays. Ask Work accident lawyers when you get truck accidents or injuries? A careless moment or shifting truck can send a forklift off the edge of a loading dock.
HAZARDOUS MATERIALS;
Employees of distribution or production centers that receive shipments of hazardous or volatile materials such as flammable liquids or radioactive materials have to be constantly aware of spill possibilities. Even small spills can prove dangerous for their safety. Hazardous materials can produce damaging physical effects like organ damage, cancer, convulsions and burns, acute health effects, fire, and unexpected pressure release.
Common Warehouse Injuries in Florida Work Accident Lawyers; Image by Aebopleidingen from Pixabay.
Legal Process Outsourcing Companies – An Emerging Need of Law Firms? Just like BPO or any other business, running a legal or law firm involves plenty of tasks that compete for attention. Also, today, law firms face a lot of pressure to improve functionality and services while cutting down costs. With increasing client expectations, more law firms are turning to legal process outsourcing to scale their operations; while staying productive and competitive in the industry.
Legal process outsourcing (LPO) deals with the practice of a law firm or in-house legal department of a company obtaining legal BPO services support from an external law firm to keep things running smoothly. It includes transferring the work of attorneys, legal assistants, lawyers; and, other legal professionals to outside legal service providers located domestically or overseas.
According to a report, the global market for legal process outsourcing is expected to grow at a CAGR of 31.8% from 2019 to 2025 and is estimated to reach $35.9 billion by 2025. There is a seemingly endless list of potential activities a firm could outsource. The most commonly outsourced legal support services include document review, litigation support, drafting of pleadings and briefs, legal research and writing, and contractual and patent services.
Why Legal Process Outsourcing Companies Has Become An Emerging Need for Law Firms?
Outsourcing legal support services domestically or to overseas providers can provide a multitude of benefits to keep your firm up and running efficiently. Let’s have a look at different advantages of availing legal process outsourcing for law firms.
Spotlight on core competencies;
When law firms outsource time-consuming and mundane tasks (non-core activities) to an outside legal outsourcing company; they can get more meaningful work done. Law firms engaged in class-action lawsuits can take advantage of legal outsourcing by contracting out the routine claims classification task. Transactional lawyers can outsource the work of drafting contracts; and, due diligence tasks to external legal outsourcing agencies with expertise in these areas of service.
Also, LPOs hire the best brains which can help your business stay ahead of the competition; especially small boutique firms looking to address and fix the internal skills gap. By doing so, law firms have more time to focus on new clients and businesses; and also offer more personalized services to the clients.
Greater business opportunities;
Previously, high-end law firms with sufficient infrastructure and manpower resources in place used to manage a majority of the legal cases. Small firms and individual practitioners, in particular, miss out on growth opportunities. However, things took a sharp turn with the advent of legal outsourcing. Availing legal process outsourcing is a good idea for small firms as they can parcel out those time-consuming processing & research tasks and spend more time acquiring more business.
Small firms can reap tremendous cost benefits by reducing their cost structures through labor arbitrage. For example, an in-house lawyer might cost them $140 an hour; while an external service provider attorney might cost $70 an hour. It also helps to expand the law firms’ practice area expertise and meet all the needs of your clients without hiring a full-time in-house employee.
Advanced data safety;
Law firms cater to handling clients’ personal data as well as confidential specifics of cases; which makes data security a top priority for firms as well as clients across the world. From bankruptcy cases to taxation & immigration litigation, data safety is crucial. Today, outsourcing agencies use advanced data security systems and maintaining the expected data security standards; which has instilled a sense of confidence in law firms when it comes to legal process outsourcing.
These are some of the reasons why availing legal process outsourcing has turned into an emerging need for law firms across the globe. If you are looking for expert help for handling non-core business activities; and, increasing your capacity without increasing overhead, legal process outsourcing is the way to go. Get in touch with one of our triple-vetted legal process experts at VE to add expertise and capacity to your practice. With us, you can outsource legal process outsourcing services to India & save costs!Outsourcing legal BPO services to VE will provide flexibility and cost savings over hiring additional staff and help your business grow.
Legal Process Outsourcing Companies An Emerging Need of Law BPO Firms?
You may like it or not, but divorce portends a lot of difficulties. In addition to unpleasant emotions, there are still many troubles with legal issues. Everyone wants to somehow smooth out this unpleasant question. And such a desire is natural. But is this possible in reality?
Most people who face divorce have a lot of thoughts. Someone does not understand how to prepare all the documents, and someone wants to be able to submit all the papers online. But in practice, you can get both this and that. Today, some states have opened up the possibility for people to get divorce papers online.
Where to Start?
Although filling online divorce papers greatly simplifies the traditional process, this format also has its own nuances. There are certain conditions for this, as well as several ways to do this.
You can find all the necessary forms on the website of your court, fill them out and then submit. In this case, you should have a clear idea of how to prepare all the necessary forms and fill them out correctly. Remember that if your forms are not accepted, then you will have to not only fill them out again but also pay a fee for re-submission.
You can seek help from a company that will help with your papers. They will tell you what documents you need and how to fill them out. But you need to be overly careful when choosing online help. Some companies may not take their work seriously and provide forms that are no longer relevant or do not comply with the laws of your state.
Other companies provide a full cycle of help with documents. They fill out all forms on their own and can even send them to court. This option is the simplest and does not cause any difficulties. But here it is also important to find a good company that will do its job efficiently. It depends on you how you provide the data. All your information must be reliable, otherwise, the slightest mistake will cost you a repeated procedure and one more fee.
As you can see, each of the methods has its characteristics. But it is important to understand that there are conditions that are necessary so that you can submit documents online without any problems. You will learn more about this later.
Check Out Whether Can You Get Divorce Papers Online
Consider whether online filing can be done according to the laws of your state. To find out, you can call your court or look for information on the court website. If this is provided, then it is necessary to move on to the next requirement, which makes it possible to submit documents.
You should not have any disagreement with the spouse regarding your divorce. That is, you must independently resolve all issues that usually cause controversy in a divorce. If you can’t decide on your own who will be the guardian or who will have the house, then you better refuse to submit documents online.
This type of divorce requires more effort and legal assistance. Therefore, you only complicate the process of filing documents online. So it’s better to leave this venture and seek professional help.
How to Find a Good Company?
This is one of the most important points that play a significant role in the process of divorce. As already mentioned, you can pay money for forms that no longer exist or do not apply to your state at all. To avoid this, you can look at the rating of companies and read real reviews.
It is also better to choose companies that will provide you with an initial consultation on a free basis. Moreover, if you have disputes with your spouse, then a bona fide company should refuse to help you so as not to create unnecessary problems for you.
Moreover, it is better to choose a company with a lawyer in the staff. Usually, they study your case in detail and you don’t need to worry about your forms being filled out incorrectly.
In any case, professional help is a good solution that reduces many risks.
Firstly, due to the lack of knowledge of many legal terms, it may be difficult for you to fill out documents yourself.
Secondly, you eliminate the risk of making a mistake and thereby you do not create additional costs for re-sending documents.
And of course, you save your nerves and strength. Because work with papers is always very laborious and debilitating.
Should I Use Online Services When There Are Disagreements Regarding Divorce?
When you have disputes with your spouse regarding custody of a child or payment of alimony, division of property, and so on, then it will be not possible to get divorce papers online. The most correct decision would be to ask for the services of a lawyer.
This way you will not create additional problems for yourself due to filling out documents online. Since you have to deal with many issues that in practice can not be quickly resolved. Perhaps in the near future, it will be possible to file online with the contested divorce. But at the moment, it’s not worth the risk and it’s better to act in the traditional way.
Let’s Conclude
Despite the fact that the online format is not suitable for all cases, it gives rise to hope that in the future it will be available for everyone. Or at least such an opportunity will appear in all states. Nevertheless, it can help many couples just now!
If you agree on divorce issues, then you’re in luck. Uncontested divorce portends simpler judicial procedures and even a very swift court decision. But if you want to simplify this process even further, then consider submitting documents online. Why not take this opportunity and make the divorce process even smoother?
What does a Lease (Leasing) mean? A Lease is a contract between the owner of the asset and beneficiary. This article explains the content of Leasing – Meaning, Definition, Types, Advantages, and Disadvantages; Owner of the asset calls lessor and the beneficiary calls lessee. The lessee has the right to possess and to use the asset on payment of the specified rentals over a predetermined period. Also, Learn Investment Banks with their Principle and Functions.
The Concepts of Leasing explains as their topic of Meaning, Definition, Types, Advantages, and Disadvantages.
Here are we can discuss the topic; Meaning of Leasing, Definition of Leasing, Types of Leasing, Advantages of Leasing, and Disadvantages of Leasing. A “Lease” is defined as a contract between a lessor and a lessee for the hire of a specific asset for a specific period on payment of specified rentals.
The maximum period of the lease according to the law is for 99 years. Previously land or real estate, mines and quarries were taken on the lease. But now a day’s plant and equipment, modem civil aircraft and ships are taken.
Definition of Leasing:
Lessor: The party who is the owner of the equipment permitting the use of the same by the other party on payment of a periodical amount.
Lessee: The party who acquires the right to use the equipment for which he pays periodically.
Lease Rentals: This refers to the consideration received by the lessor in respect of a transaction and includes:
Interest in the lessor’s investment.
Charges have borne by the lessor. Such as repairs, maintenance, insurance, etc.
Depreciation, and.
Servicing charges.
At present there are many leasing companies such as 1st Leasing Company, 20th Century Leasing Company which are doing quite a lot of business through leasing, It has become an important financial service and a lucrative avenue of making sizable profits by leasing companies.
Steps involved in Leasing:
A contract of the lease provides a person an opportunity to use an asset that belongs to another person.
The following steps involving in a leasing transaction:
The lessee identifies the need for the equipment and selects the supplier.
The lessee approaches a leasing company or Lessor to lease the equipment needed.
They have to furnish the following information: 1) Name and address of the lessee. 2) Details about his business. 3) Name and address of the guarantor, if any. 4) Description of the equipment. 5) Name and address of the supplier and the quoted price. 6) Place of installation, and. 7) Duration of the lease.
The Lessor examines the proposal after receiving the particulars from the lessee and evaluates the credit-worthiness and rent-paying capacity of the lessee.
The Lessor and Lessee entered into the lease agreement. It contains the terms and conditions of the lease such as lease period, rental payments, details regarding renewal of lease period, cost of repair and maintenance, insurance and any other expenses, etc., and.
After the lease agreement signs, the Lessor requests the manufacturer to supply the asset to the lessee.
Types of Leasing:
After their definition the content is the following different types of leasing are discussed below:
Financial Lease:
This type of lease which is for a long period provides for the use of the asset during the primary lease period which devotes almost the entire life of the asset. The lessor assumes the role of a financier and hence services of repairs, maintenance, etc., are not provided by him.
The legal title retains by the lessor who has no option to terminate the lease agreement. The principal and interest of the lessor are recouped by him during the desired payback period in the form of lease rentals.
The finance lease also calls a capital lease is a loan in disguise. The lessor thus is typically a financial institution and does not render specialized service in connection with the asset. A financial lease is an alternative to borrowing money and buying the equipment.
The features of the financial lease are:
The machinery selects from the supplier by lessee based on his requirement.
The lessee negotiates the terms of the purchase i.e., price, delivery, installation, warranties, maintenance, and payments.
The payment for purchases make by Lessor and he is the legal owner of the machinery.
The risk of obsolescence and responsibility for maintenance are to be borne by Lessee, and.
Lessee has to pay rent regularly.
Operating Lease:
It is where the asset not wholly amortizes during the non-cancellable period if any, of the lease and where the lessor does not rely on is profit on the rentals in the non-cancellable period.
In this type of lease, the lessor who bears the cost of insurance, machinery, maintenance, repair costs, etc. is unable to realize the full cost of equipment and other incidental charges during the initial period of the lease. The lessee uses the asset for a specified time.
The lessor bears the risk of obsolescence and incidental risks. Either party to the lease may termite the lease after giving due notice of the same since the asset may lease out to other willing leases.
Operating lease is a rental agreement and its features are as follows:
The period of the operating lease is generally shorter than the economic life of the leased asset, and.
The “lessor” bears the risk of obsolescence and responsibility for the maintenance of the asset.
Sale and Lease-Back:
To raise funds a company may sell an asset that belongs to the lessor with whom the ownership vests from thereon. Subsequently, the lessor leases the same asset to the company (the lessee) who uses it.
The asset thus remains with the lessee with the change in title to the lessor thus enabling the company to procure the much-needed finance. It is an agreement between the owner of the asset and the leasing company.
First, the firm (owner) sells the asset to the Leasing Company and leases it back simultaneously. The ownership of the asset transfers to the leasing company, the company, in turn, leases it to the seller and the seller becomes a lessee.
Sales Aid Lease:
Under this arrangement, the lessor agrees with the manufacturer to market his product through his leasing operations, in return for which the manufacturer agrees to pay him a commission.
Specialized Service Lease:
In this type of agreement, the lessor provides specialized personal services in addition to providing its users.
Small Ticket and Big Ticket Leases:
The lease of assets in smaller value generally calls as small-ticket leases and larger value assets are called big-ticket leases.
Cross Border Lease:
Lease across the national frontiers calls cross broker leasing. The recent development in economic liberalization, the cross border leasing is gaining greater importance in areas like aviation, shipping and other costly assets which base likely to become absolute due to technological changes. The lease agreement makes between the persons of the two countries. Lessor and lessee are domiciled in different countries, the lease says to be the cross-border lease.
Leasing: Meaning, Definition, Types, Advantages, and Disadvantages, #Pixabay.
Advantages of Leasing:
After their definition and types the content is the following Merits or Advantages of leasing below are:
The most important merit of leasing is flexibility. The leasing company modifies the arrangements to suit the requirements of the lease.
In the leasing deal, less documentation involves, when compared to term loans from financial institutions.
It is an alternative source to obtain the loan and other facilities from financial institutions. That is the reason why banking companies and financial institutions are now entering into leasing business as this method of finance is more acceptable to manufacturing units.
The full amount (100%) financing for the cost of equipment may make available by a leasing company. Whereas banks and other financial institutions may not provide for the same.
Balanced Cash Outflow:
The biggest advantage of leasing is that cash outflow or payments related to leasing are spread out over several years, hence saving the burden of one-time significant cash payment. This helps a business to maintain a steady cash-flow profile.
Quality Assets:
While leasing an asset, the ownership of the asset still lies with the lessor whereas the lessee just pays the rental expense. Given this agreement, it becomes plausible for a business to invest in good quality assets which might look unaffordable or expensive otherwise.
Better usage of Capital:
Given that a company chooses to lease over investing in an asset by purchasing, it releases capital for the business to fund its other capital needs or to save money for a better capital investment decision.
Disadvantages of Leasing:
In the base of their advantages is the following Demerits or disadvantages of leasing below are:
In leasing the cost of interest is very high.
The asset reverts to the owner on the termination of the lease period and the lesser lose his claim on the residual value.
Leasing is not useful in setting up new projects as the rentals become payable soon after the acquisition of assets.
The lessor generally leases out assets that are purchased by him with the help of bank credit. In the event of a default made by the lessor in making the payment to the bank, the asset would seize by the bank much to the disadvantage of the lessee.
Limited Financial Benefits:
If paying lease payments towards land, the business cannot benefit from any appreciation in the value of the land. The long-term lease agreement also remains a burden on the business as the agreement locks and the expenses for several years are fixed. In a case when the use of assets does not serve the requirement after some years, lease payments become a burden.
Reduced return for Equity Holders:
Given that lease expenses reduce the net income without any appreciation in value, it means limited returns or reduced returns for an equity shareholder. In such a case, the objective of wealth maximization for shareholders not achieves.
Limited TAX Benefits:
For a new start-up, the tax expense is likely to be minimal. In these circumstances, there no adds tax advantage that can derive from leasing expenses.
References: From online content collection with the site of #efinancemanagement and #yourarticlelibrary.
