Law of international commercial arbitration Essay - 1

Law of international commercial arbitration - Essay Example Thus, if an aggrieved party has a binding international award in the case of any business dispute from another nation which is a party to the NYC and is being acknowledged as a responding nation by UK, the arbitral award would be implemented in UK. (Hirchhheim et al 154). In UK, a winning party might request to have the New York Convention award implemented in the same style as a judgment through the mechanism of the Arbitration Act, 1996. This mechanism is intended to give effect for the convention obligation of the UK to acknowledge and implement New York Convention awards subject to some restricted exclusions. It is to be noted that pure declaratory awards will equally applicable to the implementation of a New York Convention award under s.101 (2) of the Arbitration Act 1996. Further, enforcement can be disputed on the same footing as recognition. If a party wants to implement and enforce an international arbitration award in UK, he has to make necessary application to the concerned court with copy of the award and the arbitration agreement in writing within the connotation of ss.100 and 5 of the Arbitration Act, 1996. However, the party need not have to substantiate the existence or validity of an agreement. Further, the reasons for the declining the recognition and implementation should be interpreted narrowly. â€Å"The New York convention’s Article V† obliges the courts of signatory nations to implement an overseas award without evaluating the merits of the arbitrator’s verdict. For instance, English Court has refused to interfere in international arbitration awards as demonstrated in the decision made in â€Å"Lesotho Highlands Development Authority v. Impreglio SpA and others â€Å"by the House of Lords. Lesotho government engaged contractors to build a dam in Lesotho. The contract specifically stated that currency for the contract purpose will be the maloti, the local currency of Lesotho

Financial strategy Essay Example | Topics and Well Written Essays - 750 words - 1

Financial strategy - Essay Example The most important step in developing start up financial strategy is ‘to undertake a realistic evaluation of the financial alternative available and consider the impact of capital source selection will have on the development and ultimate contours of the company.(Richard D Harroch and Gregory c Smith, page 703)2 It is also important that financial needs of the firm should be evaluated overtime. Every business requires two types of finances at the startup. One is long term finance and other is short term finance. Long term finances are required to meet long term plans of business. ‘Long term plans are part of an integrated strategy that, along with production and marketing plans, guides the firm toward strategic goals. Those long term plans consider proposed outlay for fixed assets, research and development activities, marketing and development actions, capital structure, and major source of financing.’ (Lawrence J Gitman, page 115)3 Finances required for long term plans are not invested all at once at start of the business but gradually over time. Basic sources of long term finance requirements are equity contributions of the ownership and debt capital. Strategy to obtain long term finance from equity or debt capital is matter of overall policy of the company and depends a lot on expected rate of return of investments in total assets of the company. This is because there is a difference in raising fund as equity capital and debt capital. The main difference is that debt investors into the business of the firm are entitled to contractual set of cash flows (interest and capital), whereas equity investors have a claim on the residual cash flows of the firm, after the company has satisfied all other claims and liabilities. Interest paid on debt capital represent a tax- deductible expense, whereas dividend paid to equity investors has to come out of profits after tax. Debts have a fixed maturity

Leadership Essay Example | Topics and Well Written Essays - 1250 words - 3

Leadership - Essay Example Thirdly, the leader should provide the knowledge and methods needed to realize the vision and influence others to buy into the idea. As passion is contagious, the leader must communicate in a passionate and clear way. Consequently, the leader should coordinate and balance the conflicting interests in stakeholders and be able to think and act creatively in difficult situations. There are traits that a leader should posses. Integrity, honest deals, controlled emotions with a predictable reaction to issues and an absence of harsh outbursts. Dedication is spending more time and energy to realize the vision by inspiring other members by example. Magnanimity is to give credit where it is due and be responsible for failures and humbleness to elevate everyone (Daft & Lane, 2011). A leader should have an open mind to listen to new ideas and suspend judgment while listening to others ideas, check the facts before passing judgment to gain trust and respect. Leaders are to be creative to think d ifferently and lead to new directions. Humor fosters good camaraderie. Humor is vital for a leader to relieve boredom, tensions and defuses hostility. This paper examines my leadership in terms of the participative theory and presents the plan of action to improve my motivation and leadership skills. Leadership theories, styles, and their influence on motivation The skills theory states that knowledge and abilities acquired by learning are significant factors for effective leadership. The argument in this theory is that skills and qualities learned, developed and acquired are keys to leadership performance. Skills are what leaders can accomplish, whereas traits are who leaders are (Northouse, 2009). Technical skills are knowledge, competency and proficiency in a specific work. For instance use of computer application software as MS office. Human skills assist us get along and communicate with people. Conceptual skills help leaders better decide and comprehend the actions and measure s for ideas and concepts. To some extent, the theory disavows a connection between the inherited characteristics and capacity to be an effective leader. However, it brings confusion when someone holds the skills and qualities but do not become a leader. This is one of the difficulties in using skills theory to explain leadership (Northouse, 2009). The situational theory, suggests that one needs to adjust and adapt to the circumstances in different situations to be an effective leader. The choice of action is based on situational variables. Factors to determine how to adapt are the competence and commitment of the stakeholders. Either aggressive decisions are made or there is room for negotiations (Ortimiere & Meese, 2010). In this theory, the leader may involve all members when making a critical decision and be task relevant. To determine the duties to assign, the leader should know the maturity level of followers in relation to a specific task. Therefore, situational leadership inf luences activities of individuals towards goal achievement in a given situation. According to the contingency theory, success depends on the leadership style, the qualities and traits of the followers and the aspect in which the situation is. It advocates for a positive approach towards unforeseen incidents. There should be a match between the leadership style and the unique situation or setting. It is different from the situational theory since, in situational the focus is on adapting to situations while in contingency effective leadership depends on the degree of fitness between a leaders qualities, style and that of a situation (Daft & Lane, 2011). The elements to be looked

Conjunctiva Pathology and Treatment Essay Example | Topics and Well Written Essays - 1000 words

Conjunctiva Pathology and Treatment - Essay Example Caution must be practiced since they cause elevated pressure inside of the eye, which can lead to vision damage and cataracts if not properly supervised under the directions of the doctor. Many people develop callous-like thickenings of the conjunctiva on the front of the eye, usually located on the nasal portion of the conjunctiva. Such eyes are susceptible to irritation caused by dry climates (especially with windy conditions), as well as toxic vapors, salt water spray, excessive exposure to the sun (ultraviolet radiation), and even inadequate natural lubrication of the eye (tears). There are 2 types of these raised, yellowish or yellowish-white patches: one type is a "pinguecula" and the other a "pterygium." A pinguecula often is a benign yellowish growth due to the fatty degeneration of the conjunctival collagen fibers near the cornea to be replaced by thicker more durable fibers and sometimes calcium crystals. It can emerge following a short exposure to damaging irritation, such as excessive dryness or sun (UV radiation). Continuous exposure increases tissue destruction.Welding also may be an occupational risk factor. There has no effect on vision and takes weeks to months to resolve. The source of irritation must be eliminated; artificial lubricant drops may be used. Anti-inflammatory ointments may be prescribed for the irritation if experienced. Pterygium A pterygium, is a benign white to pink triangular wedge shaped growth in the conjunctiva, its base in the interpalpebral conjunctiva while its apex towards the cornea. Although it is caused by the same factors of a pinguecula (mainly excessive sunlight exposure, and tropical climates), it often has inflamed blood vessels infusing into it for nourishment. A pterygium does not emerge from a pinguecula. Contrary to the pinguecula, a pterygium usually evolves

Financial strategy Essay Example | Topics and Well Written Essays - 750 words - 1

Financial strategy - Essay Example The most important step in developing start up financial strategy is ‘to undertake a realistic evaluation of the financial alternative available and consider the impact of capital source selection will have on the development and ultimate contours of the company.(Richard D Harroch and Gregory c Smith, page 703)2 It is also important that financial needs of the firm should be evaluated overtime. Every business requires two types of finances at the startup. One is long term finance and other is short term finance. Long term finances are required to meet long term plans of business. ‘Long term plans are part of an integrated strategy that, along with production and marketing plans, guides the firm toward strategic goals. Those long term plans consider proposed outlay for fixed assets, research and development activities, marketing and development actions, capital structure, and major source of financing.’ (Lawrence J Gitman, page 115)3 Finances required for long term plans are not invested all at once at start of the business but gradually over time. Basic sources of long term finance requirements are equity contributions of the ownership and debt capital. Strategy to obtain long term finance from equity or debt capital is matter of overall policy of the company and depends a lot on expected rate of return of investments in total assets of the company. This is because there is a difference in raising fund as equity capital and debt capital. The main difference is that debt investors into the business of the firm are entitled to contractual set of cash flows (interest and capital), whereas equity investors have a claim on the residual cash flows of the firm, after the company has satisfied all other claims and liabilities. Interest paid on debt capital represent a tax- deductible expense, whereas dividend paid to equity investors has to come out of profits after tax. Debts have a fixed maturity

Conjunctiva Pathology and Treatment Essay Example | Topics and Well Written Essays - 1000 words

Conjunctiva Pathology and Treatment - Essay Example Caution must be practiced since they cause elevated pressure inside of the eye, which can lead to vision damage and cataracts if not properly supervised under the directions of the doctor. Many people develop callous-like thickenings of the conjunctiva on the front of the eye, usually located on the nasal portion of the conjunctiva. Such eyes are susceptible to irritation caused by dry climates (especially with windy conditions), as well as toxic vapors, salt water spray, excessive exposure to the sun (ultraviolet radiation), and even inadequate natural lubrication of the eye (tears). There are 2 types of these raised, yellowish or yellowish-white patches: one type is a "pinguecula" and the other a "pterygium." A pinguecula often is a benign yellowish growth due to the fatty degeneration of the conjunctival collagen fibers near the cornea to be replaced by thicker more durable fibers and sometimes calcium crystals. It can emerge following a short exposure to damaging irritation, such as excessive dryness or sun (UV radiation). Continuous exposure increases tissue destruction.Welding also may be an occupational risk factor. There has no effect on vision and takes weeks to months to resolve. The source of irritation must be eliminated; artificial lubricant drops may be used. Anti-inflammatory ointments may be prescribed for the irritation if experienced. Pterygium A pterygium, is a benign white to pink triangular wedge shaped growth in the conjunctiva, its base in the interpalpebral conjunctiva while its apex towards the cornea. Although it is caused by the same factors of a pinguecula (mainly excessive sunlight exposure, and tropical climates), it often has inflamed blood vessels infusing into it for nourishment. A pterygium does not emerge from a pinguecula. Contrary to the pinguecula, a pterygium usually evolves

Greek tragedy Essay Example for Free

Greek tragedy Essay A view from the bridge was written by Arthur Miller in 1947. Arthur Miller uses a range of dramatic techniques effectively throughout the play to create tension and suspense, but particularly in the climax at the beginning of Act 2. These dramatic effects consist of; Stage direction, Greek tragedy, Foregrounding, Scenery, actions such as tension and climax and finally dramatic irony. In a view from the bridge, the central themes are, love, justice, family, the law and codes of honour. Together, they increase the characters development, so as an audience we empathise with the characters personal views, thoughts and opinions. Dramatic irony, is when the audience knows what is going to happen before the Protagonist is embedded within the text. An example of dramatic irony in the play is when Eddie returns home drunk whilst Catherine and Rodolpho are upstairs in the bedroom making love. This creates tension and suspense between the characters and also the audience, as we already know of Eddies hatred for Rodolpho because of Catherines loving feelings towards him. Arthur Millers use of the specific elements of a Greek Tragedy make the play extremely intense. The rules of a Greek tragedy consist of; A protagonist which dies at the end of the play The protagonist is clearly Eddie, as he is the central character and also sadly dies at the end of the play, he is brutally killed by Marco. A chorus is also needed in a Greek tragedy, The chorus explains and narrates the plot The chorus in the play is Alfieri as he is the commentator, he sets the scenes dramatically and also informs you what is going to happen in the upcoming scene/section. The protagonist is essentially good but his/her fate is sealed by a central flaws in character This is briefly reflected towards Eddie, as he was loving caring and protective over Catherine to start of with. He states-Now dont aggravate me Katie, your walking wavy! - This makes Eddie seem secretly obsessed with Catherine as it looks like Eddie does not want Catherine to grow up, by not letting her dress up like a normal eighteen year old girl would. Before the death of the hero, he has a moment of self understanding-Eddie gets stabbed by Marco in the end of the play, but before he dies he has a personal moment of self-understanding and forgiveness. Eddie, Beatrice and Catherine share their last goodbyes, publicly. Eddie finally states-My B! It sounds as if he wants her to forgive him for all the trouble and rebellion he has caused, Over something he could of easily let go of, but sadly didnt. This is an emotional time for the cast and audience as Eddies death was not expected, especially by Marco. The audience feels both empathy and dislike for the hero at different points. -At times Eddie can release anger, frustration and annoyance towards the audience and characters, by doing this Eddie loses his empathy from the audience. Eddie starts off with physical conflict with Rodolpho. This creates a lot of tension, with each scene of conflict becoming more intense than the one that preceded it. The tense atmosphere during the boxing scene at the end of Act One expresses Eddies secret jealousy towards Rodolpho, which results in Eddie releasing his frustration by physical violence. Eddie fires at Rodolpho-You cant hurt me [Rodolpho more seriously, jabs at Eddies jaw] The audience will not approve if Eddie interfering in Catherines and Rodolphos relationship which includes physical tension. There are also times when the Audience empathise with Eddie, as he is being loving and caring and trying to do the right thing, whereas Catherine acts selfish and ignores him. The character Alfieri has a very important role in the play A view from the bridge. Alfieri acts both as a narrator and commentator but his main function is to offer ideas to the audience to set them thinking about the message of the play. Alfieri also divides each act into unofficial scenes, and inform the audience on any missed action. Alfieri is a character in the play and yet his advice is objective and sympathetic. Alfieri is the first character to speak in the play; he therefore sets the scene and informs the audience the background to the action. He is a lawyer but in this area of Brooklyn the people distrust the law, he tells us-A lawyer means the law, and in Sicily, from where their fathers come, the law has not been a friendly idea since the Greeks were beaten. This speech immediately sets up tension between Alfieri, a representative of written law and the Italian immigrant community, who prefer to follow their own law. Alfieri understood Eddies love for Catherine was impossible to control. Alfieri empathised with Eddies in a way Beatrice could not. It aint nice Eddie This shows Beatrice confronts Eddie more than she actually Comforts him, whereas Alfieri states-Yes but those things have to end Eddie. This shows Alfieri understands Eddie psychologically whilst slowly and persuasively trying to steer him out of his unbearable dilemma. Stage Directions are very important in drama and this is evident in Arthur Millers A view from the Bridge. Stage directions give actors and directors character motivation and this allows actors to create believable characters and explain a characters actions and feelings. They also highlight characters emotions that are indirectly portrayed through stage directions, especially when describing the main focus of the play. , Eddie Carbone. In the beginning of act one, Catherine appeared to be an extremely friendly, confident little girl. I just got it, you like it? Catherine projects herself in this scene as a young, timid girl who does not have much knowledge of the outside world as she has been over-protected by Eddie all her life. [She turns for him]- Arthur Miller uses a variety of stage directions to develop Catherine as a character. The stage directions in the beginning of act one are secretly intimate and kind of shows a hint of sexual tension between Catherine and Eddie. [wipes her hand over her skirt]-Not many nieces do these flirty flexes with their uncles, but for Catherine this seems as it is normal to be twirling and flirting. When Rodolpho arrives, Catherine seems to be getting stronger and braver towards Eddie. She feels as if she is independent and superior. [She frees her arm, steps back into the bedroom] Catherine frees her arms from Eddie, Arthur Miler uses stage directions effectively in this section as it is building Catherines character from a Shy, inferior, tiny girl into a strong-minded, selfish, superior woman. This dramatically changes the audiences impression of Catherine. Catherine has always had an innocent fondness toward Eddie, but Eddie takes it the wrong way which makes their father and daughter relationship seem more sexual and possessive. [As she strives to free herself, he kisses her on the mouth] Eddie was obviously drunk when this stage direction was performed, but when your drunk your true feelings come out and Eddies passionate love for Catherine had finally been . sexually released. This had a massive impact on the audience as Arthur Miller created suspense in this section. Whilst Eddie is sexually obsessed over Catherine, Catherine just wants unconditional, parental love from Eddie and Romantic sexual love from Rodolpho. Catherine later bursts out Ill Kill you- If Catherine was secretly in love with Eddie like Eddie was with Catherine, she would have not threaten to kill him. When Catherine and Rodolpho are home alone, there is tension building up. Catherine starts curiously questioning Rodolpho, Suppose I wanted to live in Italy. She is testing his love for her, as Eddie had informed Catherine that Rodolpho is most l;likely using her just to be an American Citizen. Catherine refused to believe this but Eddie might of got the better side of her. Catherine later exploded with-You dont know, nobody knows! - This is showing Catherines neglect and isolation from Rodolpho and Eddie. She Presumes that no one understands her, but the audience thinks shes only confused as she does not know who to trust.