Commercial Bank of Australia Limited

Question: Discuss about the Commercial Bank of Australia Limited. Answer: Introduction: Justice Mason concluded that Amadio (respondents) were to go scot free because the bank (applicant) bore the guilt of unconsciously procuring the mortgage guarantee contract. In essence, ruling this case against Amadio is equivalent to punishing them for the bank's mistake. It is the bank that executed the deal and even had a better knowledge of Vincenzo's business status than his parents, meaning that they had to ensure that all the terms of the contract could guarantee that the guarantor (Mr. and Mrs. Amadio) repaid the loan if the borrower failed(Commercial Bank of Australia Ltd v Amadio [1983] HCA 14; (1983) 151 CLR 447 , 1983). Although Justice Gibbs also made the same decision as Justice Mason, he had a different reasoning. He held that that the bank knew that its bargain with the respondents was ordinary and conducted in the regular and usual course of commerce. He also added that the bank was aware of all the inequalities of bargaining power. The bank also knew that the transaction lacked any evidence of overdue influence and that all concealments and misrepresentations were the Vincenzo's responsibility(Commercial Bank of Australia Ltd v Amadio [1983] HCA 14; (1983) 151 CLR 447, 1983). The following three factors are the ones Justice Mason identified. First, the respondents, in contrast to the bank, sadly lacked the power to determine whether striking the guarantee contract was in their interest, even though they were desperate to help their son. Second, the respondents were in a special disadvantage position, which emanated from having confidence in their son who seemed to have misled them into entering the guarantee transaction. The son urged them to provide a mortgage so the bank could stretch the companys overdraft limits from $80,000 to $270,000, while also misleading them about the companys financial health. Third, they believed that the business of their sons company (V. Amadio Builders Pty. Ltd) was prosperous and flourishing, and only in a temporary need of money. However, the banks financial health was perilous, and even the bank knew that factor(Commercial Bank of Australia Ltd v Amadio [1983] HCA 14; (1983) 151 CLR 447, 1983). Reference Commercial Bank of Australia Ltd v Amadio [1983] HCA 14; (1983) 151 CLR 447 (1983) High Court of Australia.

Year 2000 Problem Essays - Calendars, Software Bugs, COBOL, Hazards

Year 2000 Problem The millennial sun will first rise over human civilization in the independent republic of Kirbati, a group of thirty low lying coral islands in the Pacific Ocean. Kirbati straddles the equator and the International Dateline halfway between Hawaii and Australia. "For those who live in a world that relies on satellites, air, rail and ground transportation, manufacturing plants, electricity, heat, telephone, or TV, when the calendar clicks '99 to '00, we will experience a true millennial shift (Peterson)." As the sun moves westward on January 1, 2000 and the date shifts silently within millions of computerized systems, we will begin to experience our computer dependent world in a new way. At the stroke of midnight, the new millennium heralds the greatest challenge to modern society that we have yet to face as a planetary community. Whether we experience this as chaos or social transformation will be influenced by what we do immediately. What is theY2K (Year 2000) problem? When computer systems were built in the 1960's and 1970's computer hardware was too expensive. To reduce costs, programmers looked for ways to reduce data storage requirements. It was common for year to be stored in databases in two digit fields rather than four digits. Why is this a problem now? The systems built during this period were not very user friendly, but the computers were most critical to business operations. Because these systems of the 1960's and 1970's were not designed to run in multiple centuries, most will either produce incorrect information or simply fail at the end of the century. It may not sound like much effort to fix these machines, but in fact, it involves a great deal of time and expense. The Gartner Group, a respected information technology researcher, estimates that it will cost as much as $600 billion worldwide. If the problem is not addressed in time, the consequences could be catastrophic. There is currently widespread awareness that Y2K involves more than the failure of an individual's personal computer, or an incorrect date in a spreadsheet. "It is now widely understood that Y2K could affect the lives of individuals, but exactly in what manner is unknown (Associated P 1)." Today computers are used to operate most mechanical equipment that affects every aspect of our lives. In 1991 the IRS has 88,000 programs on eighty mainframe computers to debug. By the end of 1997 they had cleaned up only two thousand programs. At that rate it would take the IRS 264 years to debug all 88,000 programs. Y2K is a technical problem that cannot be solved by technology, the first ever non negotiable deadline, a systematic crisis that no one can solve alone, a crisis that transcends boundaries and hierarchies, and an opportunity to simplify and redesign major systems (Peterson 1)." How bad is the Y2K problem? Many studies have been done to estimate the cost of addressing this problem. The Y2K problem would not be as serious today had business and government leaders dealt with the situation earlier. Consequently, a race against the clock is underway. For many organizations work has not even begun! Why isn't the Y2K being addressed? The biggest problem today is the lack of concern by many businesses and governments to take this problem seriously, in spite of literature available. Many people do not understand how a simple computer glitch could affect the world. Some business owners are aware of the problem but may be keeping silent in hopes of not spooking their stock. It is possible that many of our elected leaders do not see the potential of social and economic disaster. What could happen? Your telephone service is terminated because of errors in data calculations, your driver's license expires because the motor vehicle department cannot recognize dates after December 31, 1999, the department store rejects your credit card because your payment is 100 years overdue, your bank's automated teller swallows your card, thinking it has expired and your Social Security payments are cut off because the agency's computers miscalculate your age. "While elsewhere, bank vaults refuse to open, building security systems fail, refusing to read coded cards or keys, and airline flight schedules are thrown into disarray because of flaws in the air traffic control system computers (The Year 2000)." How can you prepare? Try to make all possible preparations as soon as you can. It would be a good idea to keep extra cash hand, perhaps enough to live on for an entire week. "Plan to spend a fair amount of time checking, upgrading and preparing your home

Example of Molar Mass Calculation

Example of Molar Mass Calculation You can calculate the molar mass or the mass of one mole of an element or molecule if you know the formula for the substance and have a periodic table or table of atomic masses. Here are some worked examples of the molar mass calculation. How to Calculate Molar Mass The molar mass is the mass of one mole of a sample. To find the molar mass, add the atomic masses (atomic weights) of all of the atoms in the molecule. Find the atomic mass for each element by using the mass given in the Periodic Table or table of atomic weights. Multiply the subscript (number of atoms) times the atomic mass of that element and add the masses of all of the elements in the molecule to get the molecular mass. Molar mass usually is expressed in grams (g) or kilograms (kg). Molar Mass of an Element The molar mass of sodium metal is the mass of one mole of Na. You can look up that answer from the table: 22.99 g. You may be wondering why the molar mass of sodium isnt just twice its atomic number, the sum of the protons and neutrons in the atom, which would be 22. This is because the atomic weights given in the periodic table are an average of the weights of the isotopes of an element. Basically, the number of protons and neutrons in an element may not be the same. The molar mass of oxygen is the mass of one mole of oxygen. Oxygen forms a divalent molecule, so this is the mass of one mole of O2. When you look up the atomic weight of oxygen, you find it is 16.00 g. Therefore, the molar mass of oxygen is: 2 x 16.00 g 32.00 g Molar Mass of a Molecule Apply the same principles to calculate the molar mass of a molecule. The molar mass of water is the mass of one mole of H2O. Add together the atomic masses of all of the atoms of hydrogen and water in a molecule of water: 2 x 1.008 g (hydrogen) 1 x 16.00 g (oxygen) 18.02 g For more practice, download or print these molar mass worksheets: Formula or Molar Mass Worksheet (pdf)Formula or Molas Mass Worksheet Answers (pdf)

Comparing and Contrasting of Ethical Perspectives Essay

Comparing and Contrasting of Ethical Perspectives - Essay Example On the other hand, business paradigms are highly volatile which depend on externalities for their sustainable performance. The myriad shareholders and stakeholders of the business emerge as key factors whose interests need to be incorporated within the aims and objectives of the firm for its long term sustainability. As such, the need to become accountable for their actions becomes a highly desirable element of their success. Indeed, the ethical considerations become hugely important issues as they influence the decision making processes that have wide ranging implications for the business and the stakeholders at large. The paper would discuss the issue by comparing and contrasting three articles: ‘What is business ethics’ by Peter Drucker; ‘The social responsibility of business is to increase its profit’ by Milton Friedman; and ‘The relevance of responsibility to ethical business decisions’ by Patrick Murphy. The varying views of the scholars r eflect not only the significance of ethics but also its hugely controversial impact on business outcome. Thus, it is vital to highlight the need to evaluate the extent to which the ethics play role in the overall performance of the business. Most importantly, the paper makes an effort to emphasize the changing dynamics of business imperative in the transforming societal values and emerging new socio-cultural and economic order. What is ethics? Drucker believes that in the contemporary times, the word, ‘business ethic’ has replaced social responsibility. He broadly expounds that ethics are moral obligations that are relative to contexts and people. He says that moral laxity can be defined by the individual behavior but its implications are suspect because of the differing perspectives on the right behavior. Moreover, the ‘extenuating’ and ‘aggravating’ circumstances make the moral behavior highly objectionable as they tend to favor the powerful and the rich. It is true that the wide diversity of socio-cultural and religious paradigms reflects the diverse ethical and moral practices within different societies across the globe. Thus, very often, the actions of people are deemed good or bad as per the different ideologies and views of the people coming from different background. Drucker claims that moral obligations and ethical behaviour therefore depends on the moral norms of one’s society’s culture. Most importantly, he says that individual behaviour cannot be applied to business because morality is relative that relies on socio-cultural norms. Milton Friedman, on the other hand, uses the term social responsibility to define business ethics and says that it is totally irrelevant to the main objectives of business, which is to make profit. He strongly asserts that business can only contribute to social causes to the point where its interests are not clashed. He has linked social responsibilities of business wit h that of issues like unemployment, poverty, pollution control etc. and criticizes the reformers who think that businesses need to focus on wider objectives than merely profits. According to him, burdening the business with social responsibilities adversely impacts its major objective and undermines the postulates of free society. Patrick Murphy’s article reviews the business ethics vis-a-vis moral responsibilities of businesses and how they are employed in decision making processes. He uses different articles to show how various types of social responsibilities: legal, corporate, managerial, social, stakeholder and societal are applied within and across businesses to achieve wider objectives of bus

Renters Essay Example | Topics and Well Written Essays - 500 words

Renters - Essay Example If it there is no comparison, one should lower the tax rate. To report rental income, one can use the form 1040 that comprises of all the schedules from A to F, J, L, M, & SE, and the other form 1040 with few information and no schedules. If your buildings, apartments, or rooms provide only trash collection, heat, and light among others, one should only report the rental income and expenses on part 1 in schedule E form 1040. If the apartment provides extra services that are essential to tenants’ convenience, like maid service, regular cleaning, and changing linen should report the rental expenses and income in Schedule C form 1040. It indicates considerable services of the apartment or business as the real estate dealer One can include rental income from the real state property owned by the taxpayer with the income they are reporting for their convenience store by including it on the schedule C used to report sales activities. This may be helpful as in most cases one may be subject to risk on activities carried out as business or trade. Typically, schedule C highlights the loss and profit from the business. It underlines basic services imposed for tenant’s convenience, and the total rental expenses and income (Anderson, 2011). The rental income is an income that is subject to self employment taxes. It is worth noting that, rental income is indicated on schedule E with Supplemental loss and income of tax return. Such incomes are derived from corporations, rental income, royalties, and trusts just to name a few. Nevertheless, even though such are categorized as income, it is not earned until one rent a personal property rather from real estate. Rental income takes place when one invests money in estates, which is return on investment in the form of rent. Therefore, the rental income can only be subject to self-employment taxes if there is investment obtained. However, if the apartment does not give

Open and closed loop control system Essay Example for Free

Open and closed loop control system Essay In this assignment I shall be looking at the differences between open loop control systems, closes loop control systems and also looking at and identifying the input, output and feedback gained. Open Loop Control System The open loop control system is the cheapest form of control system you can have, this is due to its simplicity. The open loop control system has absolutely no artificial intelligence or any form of sensor what so ever. This then means there is nothing controlling the inputs going in to the system, this then means that accuracy may be deficient and the system will not be working to its true efficiency. An example of this kind of system would be that for a microwave. When we turn a microwave on we select the power we want and the time limit we want and away it goes. The thing is, when it is powering itself up, how does it no if its hitting the true temperature we wanted successfully? The answer to this is that is doesnt. Open-loop control is useful for well-defined systems where the relationship between input and the resultant state can be modeled by a mathematical formula. For example determining the voltage to be fed to an electric motor that drives a constant load, in order to achieve a desired speed would be a good application of open-loop control. If the load were not predictable, on the other hand, the motors speed might vary as a function of the load as well as of the voltage, and an open-loop controller would therefore not be sufficient to ensure repeatable control of the velocity. Closed Loop Control System The closed loop control system is rather more expensive to implement than that of its counterpart. This is down to the complexity of the functions that it can complete. The closed loop does have some form of monitoring capabilities and can in fact use sensors ad artificial intelligence well. An example of a closed loop control system would be that of the sprinkler system, where the user sets the desired time for the sprinkler to come on, but instead of juts doing this when set it could read the grass moisture in the first place and then make a split decision in whether it needed to be implemented or not. Control Loop Operations Normally an open loop control system comprises of the following three things, 1. Sensor This is used to measure a value before being passed in to the process 2. Decision Decisions usually follow information from the sensor being collected and analysed. This allows the system to remain up to date and make any appropriate changes accordingly 3. Action This is the action of the computer or comparator altering settings There are two differing types of systems that can be used for control and they are Analogue or digital. The two shall be explained in greater detail below. Digital and Analogue Control Systems. The digital control system is used in the form of a micro controller to control a computer system. A digital controller is usually cascaded with the plant in a feedback system. The rest of the system can either be digital or analog. Some examples of analog systems with a digital feedback controller are:   Aircraft   HVAC   Electric motors   PID controllers   Radar   Robotics   Typically, a digital controller requires: For mixed control types such as digital and analogue systems we need a process of conversion, for example digital to analogue converters (these are called DACS). The opposite can take place, by using an analogue to digital conversion process called ADC. All of these analogue control systems are embedded with micro controllers. These micro controllers have the power to run the systems and comprise of fairly common hardware properties. The typical hardware properties that can be found in the control systems micro controller can be seen below;   CPU This is the central processing unit EPROM Non volatile memory source that doesnt loose its data when the power is switched off   RAM This is the random access memory. I/O These are the input output devises A micro processor will control the control system and process the information in order for it to function correctly. For example, if we have a sprinkler system in the garden as previously described, the inputs and outputs would need to be managed by the micro controller. If the ground was wet, it could check its EPROM (erasable program read only memory) to see what the water density was, and then the process could make a decision and process it appropriately. Below is a list of the inputs that could be put in to this system.   Time for eater to be sprinkled   Required water density in the ground Temperature of the ground   Duration timer Transducers (analogue systems) Usually the forms of input found in the analogue systems are called transducers. There is a specific purpose to doing this and its main reason is down to conversion. If for example we have an electrical input and we want to display it as a picture on the page we must use a television. The transducer in this will be the Cathode ray tube (CRT) which is electromagnetic. When using sensors or transducers the signal must be converted in to an electrical measurement (volts). Below is a list of the possible input devises we can have within a system or a circuit.   Geophone Converts earth tremors in to electrical voltage   Geiger-Muller tube used for measuring radioactivity   Cathode ray tube (CRT) converts electrical signals into visual form When the electrical charge is received it then needs to be converted in to the correct signal type using one of the transducers above, however for these signals to be used correctly we need to obtain the appropriate components. Lamp The input for a lamp is electricity and this is then output as a light source after being converted. This type of power source is used for many things Speaker Gathers electricity from the data source and then is output as a volume so people can hear it. This also has a large application/usage basis   Heat The input again is electricity, this is then converted and output as heat. This is normally found on things like electric fires and car cigarette lighters Motor This is input of electricity and then is output as movement energy. This type of system is used within moving doors.

Euthanasia: The Right Choice for America Essay -- Argumentative Persua

Euthanasia: The Right Choice for America The ethical debate of euthanasia continues while Oregon remains the only state in which it is legalized in. Based on the success of the Oregon euthanasia law, this law should serve as a model to the rest of the nation and it should be implemented all across the U.S. The success and effectiveness of this law can be seen through many case studies and statistics. Of course, there is a line that is often crossed with doctors who euthanize under unlawful conditions; however, under the right circumstances euthanasia can work. Should the United States of America continue to overlook a patent’s wishes and desires and instead primarily focus on doing everything possible to keep a person alive when there is no need? Where is the rationality in letting a person who is suffering die a slow painful death? Granted physicians are obliged to preserve life at all costs, under many circumstances, there is no need for this effort. If a patient requests death, his wish should be respected and approved. Why must the right to die be taken away? If there is no justifiable reason to preserve someone’s life, there should be no need to do it. One example reflects the experiences of a man named David Miller’s grandmother. He shares a story of her after she was diagnosed with emphysema. The disease contributed to her inability to use her neck muscles, to breath, and to speak. Many question such a doctors’ judgment in keeping such a person, who’s both suffering and serving no purpose to the world, alive. (Miller, 27) Sometimes, doctors need to focus on the quality of life of a patient, especially if the patient is suffering. Terms such as passive euthanasia and active euthanasia are often tos... ...ide Largely Shunned.† The Christian Century Dec 2000: 1267 Buckley, William F. â€Å"Killer Doc.† National Review Dec 1998: 70 Kavanaugh, John F. â€Å"Euthanizing Life† America May 2001: 28 MacQueen, Ken. â€Å"Choosing Suicide† Maclean’s v. 115 no31 (August 5 2002) p. 40-1 Miller, David. â€Å"From Life in Death in a Peaceful Instant.† The Humanist (May/ June 2000) 27 Nichols, Mark. â€Å"Offering a Helping Hand to Those Who Long to Die.† Maclean’s March 1998: 52 Rayner, Clair. â€Å"You Say Murder, I Say Euthanasia.† New Statesman June 2000: 31 Richardson, Andrea E. â€Å"Death with Dignity: The Ultimate Human Right?† The Humanist (July/ Aug 2002) p. 42-43 Sarasohn, David. â€Å"No Last Rights† The Nation v.273 no19 (December 10 2001) p. 8 Welie, Jos V. M. â€Å"Why Physicians? Reflections on the Netherlands’ New Euthanasia Law.† The Hastings Center Report Jan/Feb 2002: 42-44