Contracts 1 Assignment free essay sample

Selwyn Selikowitz Group No: 3613 Advice has been looked for concerning whether Dr. Golden has an enforceable agreement with Furniture Comfort, and whether she is qualified by law for purchase the sofa at the limited cost. So as to address the issue, one needs to begin by analyzing every one of the four fundamental components for contract arrangement: understanding, thought, conviction and an expectation to make legitimate relations. The paper ad isn't an offer yet an encouragement to treat. In Boots v Pharmaceutical Society of Great Britain, it was concluded that ‘a contract isn't finished until, the client having shown the articles which he needs, the retailer, or somebody for his benefit, acknowledges that offer. ’ The things on the rack of the ‘self services’ shop were treated as offers to treat. This choice was because of the idea of the shop. It isn't just badly arranged yet in addition for all intents and purposes and lawfully unfeasible to be gone into an agreement each time one gets a thing from the rack. We will compose a custom article test on Agreements 1 Assignment or then again any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Ads are attempted to be solicitations to treat because of comparable thinking. The special case to this assumption can be found in Carlill v Carbolic Smoke Ball, where the notice was resolved to be a proposal as there was an express goal to pay cash in case of specific conditions happening. This special case doesn’t apply to the current case. The sensible individual would decipher expressions, for example, â€Å"25% off completely chosen floor items†, and â€Å"We beat all competitors† in Furniture Comfort’s ads as not showing a proposal to go into an agreement with all perusers, yet only welcoming them to make an offer. Accordingly the paper ad is an encouragement to treat. . OFFER Dr Amber saw this ‘invitation to treat’ and reacted by visiting Furniture Comfort. Being discontent with the texture on the model, she wished to purchase a love seat with an appropriate texture based on her personal preference. She made a proposal to purchase the love seat as long as the texture was one she picked and the lounge chair was off ered to her quickly upon her arrival. This restrictive offer is made apparent through her words â€Å"I accept the deal will in any case be on†, and â€Å"I’ll need it following that. † Now under the primary offer she gave an alternative, a condition to the buy. A choice agreement is characterized as ‘an understanding for thought under which a gathering gets a privilege exercisable before a predetermined opportunity to purchase or sell property at a given cost from another gathering. ’[2] In Goldsbrough Mort Co v Quinn, the grantor gave the alternative holder a choice to buy certain land at a predefined cost whenever inside multi week of the understanding as a byproduct of the whole of five shillings paid to the grantor. In the current case, the choice was Dr Amber’s offer to purchase the lounge chair as long as the love seat was held for her. 3. Acknowledgment because of Dr. Amber’s offers, Maggie answered â€Å"We can do that in the event that you like. Let’s go to my office. † Whether or not Maggie’s answer and ensuing activities can be interpreted as an acknowledgment of the offers relies upon whether it fulfills certain guidelines in contract law with respect to acknowledgment. (a) The acknowledgment must be imparted In Felthouse v Bindley, it was resolved that quietness can't be taken to demonstrate acknowledgment. [3] Although the acknowledgment may have been gathered by direct of the nephew, his goal was not imparted to the uncle, and therefore it was discovered that no acknowledgment had been made and no agreement was framed. For this situation Maggie expressly reacted to Dr. Amber’s offer with the words â€Å"We can do that on the off chance that you like. † Thus the acknowledgment was imparted (b) The acknowledgment must be supreme and inadequate The acknowledgment must be finished, without changing any of the terms. Something else, rather than an acknowledgment it would be a counteroffer. In Butler Machine Tool Co Ltd v Ex-Cell-O Corp this qualification was clarified, in the ‘battle of forms’ included. ‘Acceptance’ dependent on changing of states of a proposal of one gathering was considered to be a counteroffer, not an acknowledgment. Maggie for this situation has totally consented to the states of Dr. Amber’s offer, reflected through her activities in permitting Amber to sign the extraordinary request data and furthermore to leave with the texture. (c) Acceptance must be in dependence of the proposal In Crown v Clarke, Clarke was found to have not acted in the confidence of or in dependence of the offer, yet rather for his own expectations. Accordingly he was found to have no case to a prize he had gotten under agreement. In the current case, Maggie knew the particular subtleties of the offer, for example, â€Å"reserve the love seat now†, â€Å"take the samples† and â€Å"order the sofa when I get back† Thus her acknowledgment was made in dependence of the offer and the alternative. d) Must be in consistence with the offeror’s offer Maggie agreed to Dr. Amber’s offer by permitting her to leave with the examples, and putting in a unique request in the ‘fabric checkout cover. ’ There was in this manner a lawfully unmistakable a cknowledgment on Maggie’s part. Maggie acknowledged Dr. Amber’s choice of keeping the love seat saved, just as her proposal of buying the lounge chair

The moral argument presupposes the existence of an all powerful, perfect God Essay Example

The ethical contention assumes the presence of an almighty, immaculate God Essay The ethical contention assumes the presence of an almighty, ideal God so as to represent the way that people have created moral codes. Basically, our thought of what is correct and acceptable, and in this manner the manner in which these ideas show into great activities is because of the nearness of God who made us and that profound quality inside us. Because of our attention to Gods presence, man acts in a single way, and if God didn't exist that would render our activities silly and illogical on the grounds that the very explanation that man demonstrations in such a manner as they would call great, is for the advantages given by God to us in an eternity. In light of that, one needs to address, regardless of whether one can be supposed to be good if God doesn't drive that profound quality. Does keeps an eye on moral experience have no significance on the off chance that they don't act as indicated by the desire of God? Provided that this is true, can one who doesn't act in understanding to that Will, or adhere to His laws, either out of defiance, sluggishness or obliviousness, be decided on a similar premise as the individuals who do? Does that imply that their ethical experience is invalid and irrational? The religious response to this inquiry originates from various sources. Thomas Aquinas attempts to demonstrate Gods presence by applying the thought of the various degrees of flawlessness found in limited things. Things are practically identical to different things dependent on norms of how fortunate or unfortunate things are, and in the event that one appointed authorities beneficial things against each other, there must be one beneficial thing which sets the standard for all great. The various degrees of flawlessness holds that there is at last one thing that is great. This ideal goodness Aquinas would recommend is God. It follows from this that if God exists that there is one explanation behind keeps an eye on moral experience building up the way that it does. We will compose a custom article test on The ethical contention surmises the presence of an almighty, impeccable God explicitly for you for just $16.38 $13.9/page Request now We will compose a custom article test on The ethical contention assumes the presence of an almighty, impeccable God explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom paper test on The ethical contention assumes the presence of an almighty, immaculate God explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer With keeps an eye on information on Gods presence man needs to satisfy Him, thus attempts to be beneficial for Him. Likewise CS Lewis talks about the idea of gauges of profound quality, as a methods for demonstrating there is an extreme and outright goodness. Lewis expresses that keeps an eye on thought of good and bad gives a few pieces of information with respect to the significance of the universe. The very truth that individuals have differences suggests some impression of a standard of conduct. This reference can likewise be applied to flawlessness and wickedness. One thing can be more abhorrent than another similarly as one thing can be more acceptable or flawless than another. He expresses that whether there is a contradiction with regards to which thing is correct and which thing isn't right, there is consistently concurrence on the idea of good and bad; the ethical law. He proceeds to propose that ethical law that we as a whole appear to groups information on can't be more crowd nature supposing that this was the situation which ever impulse was more grounded would win out. In any case, he expresses this isn't generally the situation, refering to the case of individuals who are gone up against with unavoidable peril who decided to do what they should do like face the threat, as opposed to would what they like to do, which could be to flee. Lewis additionally proposes that this ethical law can't be a reality of social show, in light of the fact that not everything that man has learned is social show, a few things simply are. On the off chance that profound quality is developed by every general public and every general public safeguarding its entitlement to be various acts as per its own contrasting gauges of ethical quality, no general public would be in the situation to pass judgment on another. Similarly as good law can't be a law directed by social show, it can't be a law of nature. Nature portrays how things are nevertheless the ethical law is prescriptive, endorsing how things should be. Lewis inferred that because of this, it is on the right track to state that there exists an ethical law over all men, to which all men are responsible. He expresses that in the event that one inquiries what the starting point of good law is they would discover that the ethical law originates from the psyche. If so, that ethical law originates from the psyche, and there is an extreme good law to the exclusion of everything else, there must thusly be an extreme Mind that remains over all men from which it springs. While Aquinas hypothesis endeavors to demonstrate Gods presence, along these lines to Lewis, Immanuel Kant goes further to address the inquiry regarding keeps an eye on moral experience straightforwardly. He recommends that Gods presence must be for all intents and purposes set so as to comprehend keeps an eye on moral experience1 Kant expresses that man must expect the presence of God in such a case that they don't, their craving for bliss and view of good obligation doesn't bode well. Kant likewise distinguished inside people a natural feeling of good and bad, and what they should do; a feeling of ethical quality. Kant tried to expand upon this point by making a recommendation of three supernatural hypothesizes without which ethical quality would flop. Kant proposes that these are: God, everlasting status and opportunity. Kant talks about the purpose of interminability and God regarding rewards. In this life, there appear to be shameful acts some of the time, the great kick the bucket youthful and neediness stricken, and the inverse is by all accounts the case for the terrible. Kant proposes that because of this there must be an eternity wherein the parity is changed, and a Judge (God) sees that equity is finished. Religion in this manner proposes that there is a lawgiver (God) who is toward the finish of mankind, and offers us endless life where the wrongs of the world are corrected. Hastings Rashdall who concurs with Kant in light of the fact that despite the fact that individuals can be good without faith in God they can't have confidence in total good certainties backs up Kants contentions. In the event that ethical quality is a human creation, he fights, there can't exist a domain of supreme guidelines. Basically, there is nothing that one can say is great or acceptable in an outright sense, as this would repudiate the very idea of Atheism. Furthermore, with the way that the world that we live in is increasingly being impacted by pride likewise bears significance on the inquiry. Individuals are hesitant to accept that they have no reason, and no purpose behind being. Individuals regularly question the importance of life asking why they are here. On the off chance that there is no God and individuals are here for reasons unknown individuals see this a hard idea as accommodated with and as such it is simpler to believe that there is a God over all men who controls all things; thus contemplations of God and a the great beyond are fundamental for such individuals to bode well of their ethical experience, however their entire presence. Notwithstanding, in a world that is turning out to be progressively emotivist, and human feelings inspiration for a wide range of activities, is it option to express that people groups tendency to do good and bad can just originate from God. Alasdair MacIntyre talks about a world that is getting governed by emotivism and disregarding what we know for sure to be valid or right. Therefore individuals act in a manner they feel to be directly for no other explanation than they feel slanted to. This isn't administered by some dread of what may arrive in an existence in the wake of death, yet rather what they feel at that point around then. The numerous contention about a definitive decent, a definitive wellspring of flawlessness and a definitive lawgiver, also meets with investigation. None of the scholars thought about numerous sources, as they would like to think, there is just one, that being God. Also, this source, in the event that it exists doesn't need to be endless and ever enduring. In this manner the faith in an eternity doesn't consequently follow. Be that as it may, if God doesnt exist, and there is nobody and nothing that will at long last appointed authority our activities, what prevents men from acting in any capacity that they please; it would not make any difference. On the off chance that there is a God our lives have meaning, and the manner in which we behave additionally has importance, and this is something than man is alright with. A Christian accepts that an eventually flawless standard is God, without this there could be nothing of the sort as malicious, yet individuals despite everything accept that to exist. There can in really certainty be no good thing except if there is an extreme decent that is the hotspot for all lesser goods2. So in established truth the genuine presence of God isn't the inquiry, regardless of whether Aquinas is correct isn't the current issue, the truth of the matter is that so as to really comprehend why man is so worried about ethical quality and doing right, one needs to expect that God exists.

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Eating Disorders Anorexia Nervosa, Bulimia, And Binge...

In the United States of America 20 million women, and 10 million men suffer from a clinically significant eating disorder at some time in their life. There are three types of eating disorders, Anorexia nervosa, bulimia, and binge eating. Eating disorders can be life-threatening conditions that can affect a person’s physical health, and emotional. Something that serious has people wondering what exactly is causing these people to risk their health on it? One possibility would be social influences. Magazines, Celebrities, commercials, shows, and so much more play into the pressure for perfection. It may play the biggest role in teens who are looking for acceptance among their peers. We all see how the size 0, high end models are every girl s dream to be. Things like the Victoria s Secret fashion show, and magazine covers make young girls feel ashamed they don t look the exact same. We see these unrealistic bodies everywhere we turn. High end fashion with beautiful skinny girls h as everyone dreaming to be like them, have their life --more importantly though their bodies. Along with that â€Å"the media may assist them in feeling bigger than they already feel themselves to be. Body image is such an important role, in our self esteem, and self-identity. 1 in every 2 people with an eating disorder don t need to lose weight at all, they are at a normal weight, but they view themselves as so much larger because we are comparing yourself to people at a unrealistic size. With theseShow MoreRelated The Prevalence Of Anorexia Nervosa, Bulimia Nervosa, And Binge Eating Disorder1723 Words   |  7 PagesPrevalence Of Anorexia Nervosa, Bulimia Nervosa, And Binge Eating Disorder How prevalent is anorexia nervosa, bulimia nervosa, and other eating disorders? Without the knowledge of research, one is likely to think eating disorders are quite prevalent in society today. However, research proves that eating disorders, in general, are not as prevalent as one might think without any knowledge of the subject. Prevalence of an eating disorder refers to the number of cases of an eating disorder within aRead MoreBulimia Nervosa and Anorexia Nervosa Essay997 Words   |  4 PagesEating disorders are extremely harmful and rising in prevalence. . The two most common eating disorders are Anorexia Nervosa and Bulimia Nervosa. In this essay, I will compare and contrast these two disorders. This essay will also assess the symptoms, causes, health affects and the most prevalent characteristics of people diagnosed with these two eating disorders. â€Å"Anorexia Nervosa is characterized by self-starvation to avoid obesity. 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These disorders consist of various biological, psychological and sociological factors. They frequently coexist with other illnesses such as depression, substance abuse, or anxiety disorders. (ANAD) Eating disorders are commonly associatedRead MoreHow Eating Disorders Affect Health772 Words   |  3 PagesEating Disorders are conditions in which involves irregular eating habits, either insufficient or excessive food, that affects inimical the body’s image and mental health (Wikipedia). It affects men and women of all ages, but it has a greater impact among adolescences and young adults. In the United States, 24 million Americans are battling eating disorders, in which 1 million are males and 23 million are females. An individual who portraits this condition may have an irrational self-image thoughtRead MoreEating Disorders : Anorexia Nervosa And Bulimia Nervosa1303 Words   |  6 Pagesincreasing number of cases of eating disorders. According to a National Institute of Mental Health article (Eating Disorders, 2016), an eating disorder is an illness that causes physical disturbance to your everyday diet. A person who is stressed or concerned about their body weight is a sign that he or she might have an eating disorder. Out of all the eating disorders, the two most common are anorexia nervosa and bulimia nervosa. Anorexia nervosa is an eating disorder where people, who are underweightRead MoreHow Are Eating Disorders Affecting Our Health?907 Words   |  4 PagesHow are eating disorders affecting our health? An eating disorder is an illness that causes serious disturbances to your everyday diet, such as eating extremely small amounts of food or severely overeating (NIMH, Eating Disorders). Eating disorders start when the mind conjures up a nonrealistic conception of their own body. Disorders can be acquired through numerous ways such as; genetics, neurological transmitters in the brain, personality, social and environmental factors, stress, and most commonlyRead MoreEye Opener : The Mind And Body1480 Words   |  6 Pagestypes of disorders. One type of disorder that is becoming very common in the everyday high school aged student are eating disorders. Even though some people believe it is normal to have an eating disorder, people should be aware of the different kind of eating disorders be cause it is easy to develop these kinds of illnesses and too many innocent teenagers are dying from these unhealthy life choices. There are different types of eating disorders but the most common are Anorexia Nervosa, Bulimia NervosaRead MoreEye Opener : The Mind And Body1478 Words   |  6 Pagestypes of disorders. One type of disorder that is becoming very common in the everyday high school aged student are eating disorders. Even though some people believe it is normal to have an eating disorder, people should be aware of the different kind of eating disorders because it is easy to develop these kinds of illnesses and too many innocent teenagers are dying from these unhealthy life choices. There are different types of eating disorders but the most common are Anorexia Nervosa, Bulimia NervosaRead MoreEating Disorders And Their Effects On Victims Of Them1281 Words   |  6 Pagesthoughts someone suffering an eating disorder hear every second of a day. In this essay, I will explain eating disorders and their effects on victims of them. Eating disorders are major health risks, and can be life-threatening. Eating disorders are defined as abnormal eating habits and extreme worry about one’s body image. They are mental illnesses that exist in both males and females, but are most commonly seen in females between the ages of 12-25. Eating disorders are not only about losing weight

Risk Management Cycle Analysis Finance Essay - Free Essay Example

Sample details Pages: 9 Words: 2587 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Risk is known as the probability or chance of loss, damage or hazard. Risk is related to every single entity in life. It is simply inevitable, and that serves as a significant motive for the development of various sophisticated techniques that help identify, quantify, manage and mitigate it. Don’t waste time! Our writers will create an original "Risk Management Cycle Analysis Finance Essay" essay for you Create order The risk management cycle contains complicated procedures and processes safeguarding firms of all shapes and sizes from the costs of destruction. This essay will effectively explain analyze, and evaluate JP Morgans 2012 Two Billion dollar trade loss. The text will present each step of the banks Risk Management Cycle, carefully illustrating where things went wrong while presenting their effective recovery plan and future Credit Risk Mitigation. JP Morgan Chase Profile J.P Morgan Chase is considered as United States largest bank. The bank has more than 260,000 employees, $2.3 trillion in managed assets and more than $1.1 trillion deposits. Although today, the financial institution is in the recovery phase of an uncontrolled disastrous trading loss. (Remy Raisner, 2012) Disastrous Trading Loss JP Morgan was one of the banks that considerably managed and recovered from the 2008 financial crisis effectively. However recently, the bank experienced a massive and severe trading loss leaving them on shaky grounds. It is demonstrated that the major loss was concentrated in the Chief Investment Office totaling $5.8 billion dollars in the beginning of 2012. This illustrates the poor cash management in the first half of this year. The actual credit trades are still under investigation, it is obvious that the JP Morgan Chase suffers from large consequential reputational loss. The banks Chief Executive Officer Jamie Dimon suffered great reputational loss due to his limited management and control of the situation. He has gained such a strong image over the last twenty five years for his impartial risk management of growth and volatility management that basically went down the drain. (Mike, 2012) What Caused the Trading Loss? There needs to be an accurate understanding of the situation to interpret whether the huge loss was as a result of the banks failed risk management employees or what is expected of risk officers duties. Strategic management There is an ongoing debate regarding the functions and credibility of the banks risk management staff and managers. Chief Executive Officer JP Morgans well respected CEO Dimon only knew about the multibillion trade loss through the wall street journal article months after the bank was trading and severely losing. (Denning, 2012) This demonstrates that the strategic management was poorly executed. How can a CEO of a firm not acknowledge the fact that risky trading activities are implemented that could suffer greatly from environmental and market changes? Given his reputation as a leading risk manager that helped JP Morgan recover efficiently and effectively after the financial crisis, he should have monitored and controlled the trading activities identifying and measuring their risk exposures. Treasury Department It was stated in a Wall Street Journal that during the period where the Chief Investment Office traded risky complex bonds resulting in more than five billion in losses, a treasurer was surprisingly absent! The person responsible for risk management was incompetent or inexperienced and was appointed in charge of the department as a result of internal connection. Risk Management Department Overall JP Morgans management underestimates the severity and complexity of their risky decisions along with the substantial consequential losses. They simply classified the disaster as executing hedges poorly and failing to monitor them properly (Mike, 2012) There should have been recognition regarding the monitoring of such risky investments in order to prevent the severity of such losses from occurring. Given that the credit risks were identified and measured before the trading activities occurred; it is the managements responsibility to oversee the outcomes of their actions periodically. There should have been predictions and oversight of economic and market changes that would affect their positions so greatly. Resolving the Problem The managements attempt to solve the problem was very basic, simple and insufficient. They only dismiss traders like Ms. Drew and replacing her with similar traders with the same bonuses. Other than that, it is mentioned that various CIO executives left the organization after the loss occurred. This does not mean in any way that the losses will be compensated or prevented in the future. There should have been stricter controls on the employment of these traders in the first place. Competent traders and executives are crucial for a giant like JP Morgan especially when trading in risky activities like this one. JP Morgans Risk Management It is stated in the banks annual report that they have a wide range of processes and procedures to safeguard the banks stakeholders and to ensure sufficient business conduct. The giant has a substantial amount of staff concentrated in audit, compliance and legal departments reaching 3,600 workers. We know we wont always be perfect, but it wont be for lack of trying. (Chase, 2011) Market Risk Management Cycle The 2012 trading disaster highlights the inefficiencies in JP Morgans market risk management. It is described as the risk of unexpected unfavorable change in market prices leading to negative values of a firms financial instruments and portfolios. As defended in the Romney campaign, JP Morgans loss is a result of market risk. (WASHINGTON, 2012) The banks Chief Risk Officer is in charge of risk management. It is the main objective of controlling market risk is to decrease operational volatility, transparency of all market portfolios to senior managers, making efficient and effective decisions regarding investment returns. Senior Management and the Board of Directors are in charge of many market risk functions. They should create market risk strategy framework, approving and monitoring of limits, quantities and qualitative risk assessments like stress testing while of course measuring, monitoring and controlling the businesss market risk. Risk identification and classification All business lines are responsible for identifying the various market risks in each unit. Usually market risks result from activities like Mortgage production, Private or Corporate Equity, IB and CIO. For the specific disaster discussed in this essay, the market risk has led to substantial losses in the Chief Investment Office. Chief Investment Office Unit (CIO) This department deals with managing the risk involved in the different activities that JP Morgan deals with, mainly working with structural risks. The market risk is related by measuring the net and structural exposures of the various activities. It is true that the multibillion dollar loss was concentrated in the CIO unit of the bank, however, the problem or incompetence is not illustrates in the risk identification phase. The problem arose in a later stage of the cycle. Risk measurement Risk measurement is the process of using techniques that illustrate a firms risk exposure. JP Morgan utilizes several measures to get an accurate image of market risk through statistical and non- statistical measures. Value-at-risk The statistical risk measure is used by the bank to predict the probable loss exposure from negative market changes. Everyday this measure is calculated comprehensively as a part of risk management activities combining the majority of market risk factors. VaR is a significant technique that is stable across business. It allows the bank to compare and risk exposure to the monitoring limits set. This figure is then reported to senior management and used for capital and regulatory purposes. The problem with this technique is that it assumes that the historical data and values represent the immediate futures outcomes and distribution. The company sets a (95%) confidence level and losses are predicted to be more than the VaR value (5%). (Appendix1) According to the disaster that led to the multibillion dollar loss in 2012, it was said that the VaR measures were undervalued. CIO risk limits were not sufficiently granular; and the approval and implementation during the first quarter of 2012 of the CIO VaR model related to the synthetic credit portfolio had been inadequate. (Chase, 2012) VaR back-testing The bank performs the back VaR back testing on a daily basis. June 30, 2012 illustrates that three days VaR values exceeded the actual values due to the CIOs synthetic credit portfolio which encountered adverse market fluctuations. The histogram in (Appendix 2) illustrates the CIO market risk losses at this date. Economic-value stress testing This technique illustrates the banks exposure to unlikely but significant market changes. Scenarios are set that predict the maximum losses created by risk management valuations of macroeconomic events like financial crisis or disasters. They are updated on an ongoing basis reflecting the dynamic changes of markets. It is an efficient technique of controlling risk. They are also reported to senior management for transparency. Non-statistical risk measures Measures like interest rate basis and market values provide information about the banks market risk exposure. They are integrated with the risk type and line of business for monitoring and controls. Loss advisories and revenue drawdowns These are techniques that illustrate losses up to a specified limit. This technique should have been monitored when the loss exposure to the CIO reached multibillion dollars. The senior management should have picked up on such figures. Risk identification for large exposures This is used to identify the losses from specific events like change in tax regulations or variety of market fluctuations. This allows the bank to adequately monitor the earning sensitivity. Risk monitoring and control Limits JP Morgan controls market risk through the limits it sets like VaR and stress limits while incorporating non-statistical measures and profit /loss drawdowns mentioned above. These values reflect the firms risk appetite, liquidity, market volatility and management. They are also in line with the business portfolios. In the disaster discussed, it is obvious that the limits set were not as accurate and were not monitored well by risk managers and the senior managers. There should have been stricter control and limits when dealing with complex CIO activities. Model review Models mentioned above are used for management and monitoring of risk. The valuation models are used for risk management models and for calculating capital and regulatory requirement. If the model reviews were monitored by the Chief Risk Officer in an effective manner, there would have been clear indications of the loss exposures. (Appendix, 2) Risk reporting The measures and models discussed above are supposed to be reported on a daily basis to senior management. Other measures like trends; profit/loss, stress testing and portfolio changes are reported on a weekly basis. (Chase, 2012) This seems hard to believe in which the senior management were oblivious of the losses and market changes that led to the loss. As mentioned several times the CEO only learned about the issue through the articles. Effective Risk Management Strategy JP Morgan Chase was always known for its outstanding risk management. However, this trading loss could have been a result of their overconfidence and lack of monitoring. A new framework is required to help executives classify risk based on their relation to strategy and controllability. Risk is divided into three categories preventable, strategy and external risks. (Mike, 2012) Preventable Risks They consist of internal risk elements in the bank. They could be controlled, eliminated and managed by ongoing monitoring operational practices, executive involvement in employees decision, behaviors and activities. They are achieved through setting preventions, limits and norms. (Mikes, 2012) Strategy Risks This is the risk that JP Morgan takes voluntarily to make excessive returns. It was known for its smart risk taking activities. This type of risk is actually desirable as illustrated in the case. The CIO unit took significant risk to capture substantial gains. The banks risk management system needs to be more effective in reducing the materialization of strategy risk. They should also build plans for occasions that cover losses where these events occur. (Mikes, 2012) External risks These are the risks that have affected the CIO unit activities the most. They are the risks that are out of the banks control. The macroeconomic shifts that occurred affected the outcome of the investment and hedging goals intended. The approach needed to deal with external risk should be detailed and studied. There needs to be accurate detailed identification and mitigation of future activities. (Mikes, 2012) Conclusions Recommendations JP Morgan Chase went through a disastrous crunch in the first part of 2012. Their CIO synthetic credit portfolio aiming to hedge against the stressed credit environment did not perform as expected after 2011. Unfortunately, the complex derivative portfolio changes in size and characteristics and so lead to a substantial increase in risk association. Before June 30, 2012; the CIO synthetic portfolio lost $4.4 billion and $5.8 billion. The transfer of a segment of the portfolio to the IB led to the additional loss of $ 800 million and $1.7 billion. These conclusions are a result of the analysis and review of stress testing and simulated scenario techniques. (Chase, 2012) After examining the banks strategic management and risk management cycle it is obvious that the disaster occurred as a result of overconfidence and lack of monitoring and reporting transparency. The senior management was not aware of the losses and defects that were occurring. Some of JP Morgans executives were al so described as being inexperienced. The CIO traders involved in the disaster have also stepped down or have been replaced. However, it is also suggested that this problem would have occurred with even flawless risk management. They could be due to the sudden changes in the market and sudden actions after April 10, 2012. It is demonstrated that the techniques used to measure and identify market risk are not the problem. JP Morgan utilizes efficient and sophisticated risk management techniques. The problem lies in the monitoring and reporting segment of the risk management cycle. If the CEO knew about the problem before reading the article, they could have managed the situation differently. In order to avoid future issues in miscommunication and risk monitoring JP Morgan Chase need to adapt or make use of a new framework that segments risk into preventable, strategy and external parts. By dividing them and setting risk management for each division they will be able to forecast and hedge against losses in a more effective manner. They have also taken measures after the disaster for the bank to recover its losses. (Appendix, 3) Works Cited Bianco, J., 2012. Understanding J.P. Morgans Loss, And Why More Might Be Coming. [Online] Available at: https://www.ritholtz.com/blog/2012/05/understanding-j-p-morgans-loss-and-why-more-might-be-coming/ [Accessed 15 November 2012]. Chase, J. M., 2011. 2011 ANNUAL REPORT. [Online] Available at: https://files.shareholder.com/downloads/ONE/2169295553x0x556139/75b4bd59-02e7-4495-a84c-06e0b19d6990/JPMC_2011_annual_report_complete.pdf [Accessed 14 November 2012]. Chase, J. M., 2012. CORP Q2 2012. [Online] Available at: https://www.sec.gov/Archives/edgar/data/19617/000001961712000264/jpm-2012063010q.htm#s3B241053CD178D0FE04E57787E0ACC5A [Accessed 16 Novemebr 2012]. Denning, S., 2012. The Risky Risk Management Practices at JPMorgan Chase. Forbes, 18 May. DiSavino, C. P. a. S., 2012. Regulators cut JPMorgans ability to trade power. [Online] Available at: https://www.reuters.com/article/2012/11/15/us-jpmorgan-ferc-powertrading-idUSBRE8AE08L20121115 [Access ed 19 November 2012]. JPM, W., 2012. JPMorgan And Wells Fargo Report Record Profits, Potential Long-Term Opportunities. [Online] Available at: https://seekingalpha.com/article/938381-jpmorgan-and-wells-fargo-report-record-profits-potential-long-term-opportunities [Accessed 16 Novemeber 2012]. Kopecki, D., 2012. JPMorgan Posts Trading Loss on 10 Days as Derivative Bet Unwinds. [Online] Available at: https://www.businessweek.com/news/2012-11-08/jpmorgan-posts-trading-loss-on-10-days-as-derivative-bet-unwinds [Accessed 10 November 2012]. Mike, R. K. a. A., 2012. JP Morgans Loss: Bigger than Risk Management. Harvard Business Review, 23 May. Mikes, R. S. K. a. A., 2012. Managing Risks: A New Framework. [Online] Available at: https://hbr.org/2012/06/managing-risks-a-new-framework/ar/1 [Accessed 16 Novemebr 2012]. Remy Raisner, C., 2012. Where Does JPMorgan Stand Now. Seeking Alpha, 8 November. SILVER-GREENBERG, J., 2012. JPMorgan Sues Boss of London Wha le in Trading Loss. [Online] Available at: https://dealbook.nytimes.com/2012/10/31/jpmorgan-sues-boss-of-london-whale/ [Accessed 10 November 2012]. WASHINGTON, 2012. Romney campaign defends JPMorgan loss as market risk. [Online] Available at: https://www.reuters.com/article/2012/05/15/us-usa-campaign-romney-jpmorgan-idUSBRE84E0NX20120515 [Accessed 14 November 2012].

Night Creature Blue Moon Chapter 16 Free Essays

I’d slept the day away and only had an hour before Ca-dotte was supposed to show up. The damn twine had rubbed a raw circle around my neck. A cold compress plus a liberal application of vitamin E took away the sting. We will write a custom essay sample on Night Creature: Blue Moon Chapter 16 or any similar topic only for you Order Now To hide the mark, I put on a sleeveless mock turtle-neck instead of a tank top; then I transferred the totem to a gold chain my mother had given me for my sixteenth birthday, which I’d never worn. I doubted she’d approve of the way I was wearing it now, but the chain was my present and she wasn’t here. My rationalization for a lot of the things I did that my mother wouldn’t approve of. I chose shorts instead of jeans. Judging by the heat of my apartment, we’d enjoyed the first true day of summer while I’d been asleep. I threw open a few windows. I couldn’t see turning on the air-conditioning when the setting of the sun was only a few hours away. Besides, I had good legs and, being tall, I had a lot of them. Swimming toned much better than jogging. I preferred round, feminine muscle to stringy sinew and emaciated calves. I turned my cell phone on long enough to dial a pizza, then shut it off again. If there were messages pending, they were no doubt from Clyde. I’d have to deal with him later, and later was when I would deal with him. Right now I was going to enjoy the evening. A little pizza, a little Cadotte. If things went well, I might even be in a good mood by the time I went to work. I was hoping sex could erase the memory of that very strange dream. I’d never been into bestiality, so what was the matter with me now? The stone shifted between my breasts, making me jump. I’d been standing at the floor-length window, staring at the summer sun. I hadn’t moved. Why had the totem? The dream had me spooked, that’s all. Dreams were just dreams, despite any woo-woo propaganda to the contrary. They were not truth or predictions, not buried secrets or hidden hopes. They were just images that meant nothing at all. But what images! Illusions tumbled through my mind of bodies entwined, sweat-slicked skin, heated flesh. These were followed by the tactile memory of soft fur, a smooth tongue. A man and a beast become one – or had that been a woman and a beast? The doorbell rang and I started. I was rolling the totem between two fingers like a worry bead. The stone was warm. I dropped the icon back down my shirt as if it were on fire. Woman and beast? That was a bit too kinky for comfort, and my mind shied away from the thought. Cadotte stood in the hall with a pizza. I was so hungry I wanted to eat them both. What was wrong with me? Nothing that a little pizza and a lot of sex wouldn’t solve. â€Å"I met the delivery boy coming up.† â€Å"I’ll pay you.† I opened the door wide, inviting him in. â€Å"Yeah, you will.† He crowded me close, kicked the door shut, then kissed me – hard, deep, and wet. Maybe sex, then pizza was a better idea. He stepped back and tilted his head. â€Å"There, all paid up.† â€Å"With one kiss?† â€Å"You’re a very good kisser.† I was left standing stunned in the hall when he strode into the apartment. I got so few compliments, and I’d never received one on how well I kissed. I had no idea what to say. I wasn’t required to say anything. By the time I reached the sofa, he had his mouth full of food. He’d brought wine. I got him a glass and a corkscrew. â€Å"You don’t drink?† He eyed the single glass. â€Å"I have to work in four hours.† â€Å"That doesn’t answer my question.† â€Å"Sure I drink.† I’d rarely met a cop who didn’t, unless at one time they’d overindulged and were now on the wagon. Police work, even in a tiny town like Miniwa, was stressful. Cops drank. Period. A lot of them smoked, too. Or did chew, like Clyde. Thankfully I’d been able to manage my stress, so far, with the occasional Bloody Mary and a twilight swim. â€Å"I suppose working third shift makes a beer at the end of your day a lot less than appealing.† He opened the wine. I’d never thought of it that way, but Cadotte was right. When I got off at 7:00 a.m. I didn’t want alcohol; I didn’t even want coffee. I just wanted my bed. Although if I kept having weird dreams, pretty soon I wouldn’t want that. â€Å"Mmm.† Cadotte had his mouth full again, so I joined him. Fifteen minutes later we were done. Cadotte scooted back on the couch, half-full glass of blood-red wine cradled in his long fingers. His thumb stroked the bowl and I lifted my gaze from his hand to his face. He took a sip. A drop clung to his lip, and his tongue swept out to capture it. His earring glittered in the glare of the setting sun. I wanted to take that earring in my teeth and tug him into the bedroom. â€Å"Shall we get down to business?† â€Å"Mmm-hmm,† I murmured, captivated by the way the light turned the golden feather from red to orange and back again. â€Å"Do you have the totem?† â€Å"Huh?† He smiled and set his glass on the coffee table with a click. Cadotte knew the effect he had on women and I found myself wondering: Was he playing me to get to the totem? Paranoid? Moi? Definitely. Nevertheless, I straightened, shook off the sexual inertia, and turned away. â€Å"It’s gone.† â€Å"Gone? What do you mean, gone?† â€Å"Disappeared? Stolen? Poof? Take your pick.† I was getting mighty good at lying. He got so quiet, if I hadn’t heard him breathing I might have thought he’d gone over the balcony- – this time in the opposite direction. â€Å"Oh well,† he said at last. â€Å"I guess it’s a good thing I sketched it.† Paper crinkled and I spun around. He leaned over the coffee table, smoothing a white rectangle. Then he pulled a bunch of other papers from his back pocket and set them all side by side. â€Å"Y-you aren’t upset about the totem?† He glanced up. He’d put on his glasses. My heart went ba-boom. â€Å"Upset? Why should I be? It wasn’t mine.† â€Å"Wasn’t mine, either,† I grumbled. He studied me for a moment. â€Å"What happened?† I didn’t think I should tell him about the evidence room fiasco. Clyde would say that was police business, and since I was in enough trouble with Clyde already, I decided to keep my lips zipped on the subject. â€Å"I really can’t say.† â€Å"You’re in trouble?† I was, so I nodded. Cadotte beckoned, then patted the sofa at his side. â€Å"Come here.† My paranoia seemed just that in the face of his lack of concern over the missing totem. Of course, what good did it do him to be upset? The thing was gone – or so he thought. When I joined him on the couch, our hips bumped. I shifted away. He followed, pressing his jean-clad thigh to mine. When I cast him a quick glance, however, he was staring at the paperwork and not at me. I left my leg right where it was. â€Å"See this?† I followed his finger to an extremely accurate pencil drawing of the totem, larger than the actual stone; the markings had been enlarged as well. They were much easier to see this way. â€Å"You’re good,† I said. â€Å"You have no idea.† That surprised a laugh out of me. The sound made me realize how seldom I heard it. Pretty sad. I was twenty-six and already the laughter had died. Perhaps with this man I could get it back. Cadotte shuffled the stack of papers – printouts from the World Wide Web. â€Å"What would we do without the Internet?† I murmured. â€Å"A lot of work. I can find more there in an hour than I could find in a week at the library. Aha!† He snatched a sheet out of the center of the pile. â€Å"Look at this.† Placing the two papers next to each other, he slid them closer to me. The Internet printout showed an ancient, emaciated being with long teeth and even longer fingernails. â€Å"Matchi-auwishuk,† he whispered. The trees rustled outside, and a sudden breeze came through the open balcony doors. As if expecting it, Cadotte put his hands on top of the papers. The breeze stopped as suddenly as it had begun. Okay. That was weird. I glanced at him, but he didn’t seem disturbed. By the breeze. Instead, he scowled at the drawings. â€Å"I don’t remember seeing that.† I pointed at the Matchi-auwishuk. â€Å"I used a magnifier to identify some of the smaller markings. It’s there. Take my word for it.† I would. Until he left and I scrounged up my own magnifying glass. â€Å"And take my word on this.† He shoved another piece of paper at me. A shiver ran from my neck to the base of my spine. The Matchi-auwishuk had been ugly, but this was downright creepy – given the circumstances. The figure was half-man, half-wolf. â€Å"What in hell is that?† â€Å"The wolf god.† The drawing was exemplary, the naked man impressive – sleek and muscled – perfection except for the paws growing where his hands and feet should be. A tail sprouted from his backside and ears from the top of his head. Instead of hair he had fur, and a snout blossomed where his mouth and nose had once been. But those little foibles weren’t what made me shrink away from the table, irrationally terrified of touching the picture or having it touch me. Nope, what bothered me about the drawing were the damn eyes – sly, intelligent, human. â€Å"Where did you find this?† â€Å"There’s an old and obscure legend of the Ojibwe. The wolf god can be brought to life during a blue moon if the way is paved by an army of wolf men. And women.† I turned my head so I could see his face. He wasn’t laughing – so I did. ‘ â€Å"What does that have to do with anything?† â€Å"‘ Jessie, aren’t there a few too many coincidences here? The totem, the madness of the wolves, and the blue moon?† The blue moon. I remembered telling Zee about it the night Karen Larson had been bitten by a wolf. The night I’d found the totem. The night I’d met William Cadotte running around naked in the woods. â€Å"What’s a wolf god, and how is it brought to life?† He shuffled some of the papers, scowled, pushed his glasses up in an absent gesture. â€Å"I’m not sure.† â€Å"What good are you then?† â€Å"We’ll get to that later.† He winked. Even in the middle of his delusion, he was propositioning me. Why did I think that was cute? Cadotte returned his attention to the gibberish he’d been reading. â€Å"All I’ve determined so far is that a werewolf army is needed – â€Å" â€Å"Whoa!† I jumped to my feet. â€Å"Werewolf army? Where did that come from?† â€Å"What do you think wolf men and wolf women are?† â€Å"A figment of your imagination?† â€Å"Mine and whoever else has decided they want to be the wolf god.† I rubbed my forehead. â€Å"Back up a minute. Someone is going to be the wolf god?† â€Å"I guess so. I haven’t been able to determine how that happens, exactly, but the making of a werewolf army between the two moons is the beginning.† â€Å"Between what two moons?† â€Å"Two full moons in a single month – â€Å" â€Å"Makes a blue moon,† I finished. â€Å"When the becoming takes place.† He glanced at his watch. â€Å"That’s in five days.† I plopped down on the couch. â€Å"You believe this stuff?† â€Å"It really doesn’t matter if I do or not.† â€Å"Why?† â€Å"Because someone believes, and they’re willing to do whatever it takes to make the legend come to life.† How to cite Night Creature: Blue Moon Chapter 16, Essay examples

Diversity Issues free essay sample

Share some contemporary examples of cultural diversity issues. Some contemporary examples of cultural diversity issues, for example, are law enforcements inabilities to understand completely some of the minority group’s language, traditions, beliefs, lifestyles, religions, stereotyping, and profiling of minorities. Law enforcement also encounters cultural diversity issues with the different moral beliefs of ethnic groups, therefore, can interfere with relating to other minorities when faced with a situation. Law enforcement officers should focus on education, training, and gain knowledge of their local minorities to form a universal relationship with those minorities to avoid the cultural and ethical issues, which may raise suspicions when in turn it is the beliefs, morals, etc. of that minority rather than hiding something, or under the influences of drugs or alcohol. An example is with Asian and Hispanic females. Females in both these minority family environments are considered subordinate to men, and many are expected to take a role as the mother while the male counterparts are allowed to participate in social activities such as jobs, sports, clubs, afterschool activities, and such (Shapiro, 2002). We will write a custom essay sample on Diversity Issues or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Law enforcement encounters much problematic issues regarding the subordination of females by the male counterparts in these minorities, resulting in calls to the school systems because female Hispanics are prone to be hostile toward peers because of stress, which derives in the family and the attempting results to conform-assimilate with youths in America (Shapiro, 2002). Reference: Shapiro, M. (2002). Asian Culture Belief: Vietnam. Retrieved September 29, 2011, from http://www.ntac.hawaii.edu/downloads/products/briefs/culture/pdf/ACB-Vol2-Iss5-Vietnam.pdf https://www.google.com