...As the CEO of a company that has to choose between making a $100 million investment in either Russia or Czech Republic the risk considerations have become critically important in choosing the best option. The risk considerations include evaluation of each nation’s political, economic and legal systems along with the cultural practices, education and skill levels and each countries stage of economic development. The political systems of a country shapes both the economic and legal systems (Hill, 45). These systems are interconnected and play a vital role in making a decision of which country to make an investment in. In evaluating the risks of making the investment in Russia, the most widely discussed risk that is found is the corruption in the country; this remains a major barrier success for businesses in the nation. There is a complex business environment in Russia along with known issues involving bribery. The corruption in the nation leads to a number of problems including non-transparent and inconsistent application of laws and regulations with the weak enforcement of laws and court decisions (Business Anti-Corruption Portal). This isn’t the only area where corruption is a problem in Russia, there is corruption in the area of licensing and permits with multiple inspections and red tape. Intentional and lengthy delays in the procedures for starting a business, getting required permits and licensing are additional risks along with the corruption. It does seem as though the...
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...3. Investment Climate POLITICAL AND ECONOMIC STABILITY The Czech Republic is a fully-fledged parliamentary democracy, and is one of the faster growing economies as well as one of the ten countries that entered the European Union on 1 May 2004. The country’s economic policy is consistent and predictable. A strong and independent central bank (the Czech National Bank) has maintained an extraordinary degree of currency stability since 1991. The Czech Republic was the first CEE country to be admitted into the OECD. The country is a member of NATO and is fully integrated into other international organisations such as the WTO, IMF and EBRD. EU legislation was adopted in preparation for EU accession. Czech commercial, accounting and bankruptcy laws are compatible with Western standards. The Czech koruna is fully convertible. All international transfers (e.g. profits and royalties) related to an investment can be carried out freely and without delay. NON-DISCRIMINATION Under Czech law foreign and domestic entities are treated identically in all areas, from protection of property rights to investment incentives. The government does not screen any foreign investment projects with the exception of those in the defence and banking sectors. As an OECD member the Czech Republic is committed not to discriminate against foreign investors in privatisation sales, with the same exception as that mentioned above. INVESTMENT PROTECTION The Czech Republic is a member of the Multilateral Investment...
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...Section 24 of the Evidence Act says Confession caused by inducement, threat or promise, when irrelevant in criminal proceeding.—A confession made by an accused person is irrelevant in a criminal proceeding, if the making of the confession appears to the Court to have been caused by any inducement, threat or promise,1 having reference to the charge against the accused person, proceeding from a person in authority and sufficient, in the opinion of the Court, to give the accused person grounds, which would appear to him reasonable, for supposing that by making it he would gain any advantage or avoid any evil of a temporal nature in reference to the proceedings against him. tc "24. Confession caused by inducement, threat or promise, when irrelevant in criminal proceeding.—A confession made by an accused person is irrelevant in a criminal proceeding, if the making of the confession appears to the Court to have been caused by any inducement, threat or promise,2 having reference to the charge against the accused person, proceeding from a person in authority and sufficient, in the opinion of the Court, to give the accused person grounds, which would appear to him reasonable, for supposing that by making it he would gain any advantage or avoid any evil of a temporal nature in reference to the proceedings against him." [1] Introduction: The word “confession” appears for the first time in Section 24 of the Indian Evidence Act. This section comes under the heading of Admission so it is...
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...“gratuitous or donative promise” without any consideration from Dave which makes the donative promise unenforceable. However, if the donative promise would have been made and “under seal,” relied on, or a moral obligation then the donative promise could be enforceable. In this case, Sam simply told Dave he would change his will to leave him the car without any consideration and without any of the exceptions listed, making the promise unenforceable. Question 2 1. A bilateral contract is formed. Sam must change his will. 2. A...
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...Explain the difference between “sufficiency of consideration” and “adequacy of consideration”. Give an example of each. Consideration contains two parts: something of legally sufficient value must be given in exchange for a promise (often a promise for a promise), and there must be a bargained-for exchange. Legal value can be a promise, performance, modification or destruction of a legal right. Legal sufficiency of consideration involves the requirement that consideration be something of legally sufficient value in the eyes of the law. For something to be legally sufficient, consideration for a promise must be either legally detrimental to the party receiving the promise (promisee) or legally beneficial to the one making the promise (Promisor). For example, it must be legally valid. Something of legal value must be given in exchange for a promise. It may be a return promise if it is performance, that performance may be an act other than a promise, or a forbearance refraining from action. Carbone Inc., begins construction on an office building and after 4 months demands an extra $60,000 on its contract. If the extra $60,000 is not paid, he contractor will stop working. The owner of the land, finding no one else to complete the construction, agrees to pay the extra $60,000. The agreement is unenforceable because it is not supported by legally sufficient consideration. Carbone Inc., had a preexisting contractual duty to complete the building construction. Adequacy...
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...Genesis and Exodus are both important books in the bible. However, Exodus is the most beneficial to our Christian faith. The first reason being the showing of God’s loyalty and fulfillment of promises. The second the reviling of God’s power. Finally, the third reason is the ten commandments. These three points are the reasons Exodus is more important than Genesis for the Christian faith. When you promise something the promise itself does not matter. The end result is the more important factor. Weather the promise is kept or not is more important than the actual promise. Someone can promise you the world but their words can be empty. It only matters if they keep that promise. Similarly, the promise God made to Abraham is not as important as...
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...Dalda promises to offer its consumers “The Same Pure Taste and Quality” savored by generations of Indians. Due to unique Brand Elements of Dalda , it continues to reign in its own category. It continues to be most trusted cooking medium and remains in the top five brands in its space. Brand Expression (Green Palm Tree signifying freshness ) and Emotional Connect (Trust and Tradition ) are the two basic brand element of the product. Delivering Brand promise starts with a commitment from our leaders Business CEO is leading this and has secured the commitment from his Executive Leadership Team. We design a program for the long term. The brand will be reflected in everything we do – our products, services, environments and communication. The brand will be reinforced in other people programs, i.e. reward and recognition. The brand provides clarity about what we can offer and therefore makes it easier for our customers to make an informed decision when they consider Dalda amongst alternatives. If we live up to our brand promise, we deliver higher standards consistently to the customer. In Bunge, delivering brand promise is an organization wide ongoing process. The brand and brand promise is linked to job descriptions , training programs and evaluations. We have developed an effective brand education program that goes into detail about the brand’s position, personality, promise and benefits. If the brand was built on customer and employee insight, we share that insight...
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...up and paid the required fee. On the day of the tournament, Martin Motors Inc. send an agent with car, attached to the car was the flyer promoting the tournament. On the thirteen hole, David made a hole in one in front of other members in his foursome. David informed Martin Motors Inc. about his achievement and hoped he would get the car. Martin Motor Inc. Martin Motor did not believe David and refused to give him the car. The chances of making a hole in one are 1 in 12500, you could see why they would not believe him. David Smith now want to sue Martin Motors Inc. We could easy tell that their was acceptance, on the offer made my Greenacres Country Club to Martin Motors Inc. to...
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...liberals are friends of the “working man.” Fallacies: Scapegoat The speaker says “Boss Jim W. Gettys' political machine -- now in complete control of the government of this State! I made no campaign promises, because until a few weeks ago I had no hope of being elected.” The power of Getty’s “political machine” is purely to put blame elsewhere as an excuse for the speaker’s neglect to make campaign promises. Scare tactic The speaker says “The working man and the slum child know they can expect my best efforts in their interests. The decent, ordinary citizens know that I'll do everything in my power to protect the underprivileged, the underpaid, and the underfed!” in an attempt to scare the audience into thinking the opposing party will not protect the underprivileged, underpaid, and underfed. Ad Hominen: Multiple times the speaker attacks “boss Jim W. Gettys’” but neglects to ever mention specific policies of Gettys that he disagrees with. It appears as though he simply has a personal vendetta against Gettys. Strawman: “Well, I'd make my promises now if I weren't too busy arranging to keep them.” This statement’s vagueness appears to be an effort for the speaker to keep from having to make campaign promises, while still appeasing the audience’s need for campaign promises. Rhetorical Devices: Alliteration During the beginning of the speech, the campaigner and Kane speak in alliteration: “I am speaking of Charles Foster Kane, the fighting liberal, the friend of the...
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...integrity. Some of my earliest memories contain my father teaching me the ways of integrity. He taught me that I should be the person who can always be trusted. He taught me how to make the right decisions, even when making the right decision angers the people I am with at the time. Integrity is the fortitude to do the right thing and fight the temptation despite the difficult circumstances. As I am with some of my close friends, they begin to discuss what acid would be like and how great of experience it would be. Within the next few minutes, I look over to see my one of them making a phone call. I end up in the back of a car as we pull out of the driveway and head to the local gas station. Once we arrive, the driver opens his door and extends his hand. I can see the inside of his palm—cash. This is a drug deal, I realize. Shocked, I begin to mentally prepare myself for trying acid. I think back to the child who always listened to his parents. I remember the promise my dad forced me to make. I promise to never try any drugs, Dad. You have nothing to worry about....
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...Trump vs Clinton By:Kailey Pugh In the upcoming 2016 presidential election Trump and Clinton are proposing their promises to the U.S.A. Each candidate running for president are making promises for America.But first here is a bit of background information about both candidate. Donald J. Trump went to school in New York ,and then soon went to college to be a real estate realtor , and later on had 5 children.Hillary Clinton went to Yale Law School , had 1 child ,and was born on October 26,1947. Next, here are some promises each candidate claim to make happen if they become president of the U.S.A. Trump,promises immigration reforms, trade reforms,and tax reforms. Clinton, promises education reforms,healthcare reforms,and...
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...to abstain from doing anything with a view to obtaining assent (Agree) of that other to such act or abstinence” Example: 1. Rima offers to sell her Law books to Rony . Here, Rima is offering or giving a proposal to Rony. If Rony accepts a Contact is formed. Proposal & Promise Section 2(b) of the Contract Act 1872 states that, “A proposal (Offer) when accepted becomes a promise” The person making the proposal is called the “promisor” (Offeror), and the person accepting the proposal is called the “promisee” (Offeree). [section 2(c)]. When, at the desire of the promisor, the promisee or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing something, such act or abstinence or promise is called a consideration for the promise. [section 2(d)]. Consideration is an important element of a Contact Agreement Thus an agreement can be defined as “Every promise and every set of promises forming the consideration for each other”. [Section 2(e)] In an agreement there is a promise from both the sides. Example: Mr. A, promises to deliver his radio to Mr. B & in return Mr. B promises to pay a sum of Tk. 3500 to Mr. A, thus we see that there is an agreement between Mr. A & Mr. B. |Promisor...
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...Consideration is the final part of the contract and it is a necessary part for all simple contracts. Consideration is something of value given or promised in exchange for the promise given by the other party to the contract. According to Lord Pollock’s, the definition of consideration is “An act or forbearance of one party, or the promise thereof, is the price for which the promise of the other is bought, and the promise thus given for value is enforceable”. Also in the case of Currie v Misa (1875), it was stated that “consideration may consists either in some right, interest, profit or benefit occurring to the one party, or some forbearance, detriment, loss of responsibility, given or suffered or undertaken by the other.” Consideration consists of a few elements which were developed through many cases. First, consideration must exist if a simple contract is to be enforceable. But formal deeds are the exception because of the formality of the document itself. Second, consideration can be present (executed) or future (executor), but past consideration is not acceptable. If any services were made before the promise, it will not be consider as a consideration. Third, consideration must come from the promise, but need not move to the promisor. It can be move to a third party who is nominated by the promisor. Fourth, consideration needs not to be adequate or commercially realistic. Therefore, if the consideration of a contract is only nominal and doesn’t have the true value of the...
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...philosophy on the concept of a supra moral individual, which he specifically defines in terms of someone who is effectively free and sovereign, not bound by the bourgeois “morality of custom”. Defined as acting autonomously, capable of “measuring value” and being “entitled to make promises”, such an individual gains the cherished freedom of “responsibility” which is ultimately internalized as “conscience”. Arendt, in “Responsibility and Judgment”, focuses on the notion of a moral individual who is in “harmony” with his or herself, a state of mind that is gained from independently considering and arriving at fundamental moral guidelines. Like Nietzsche, Arendt asserts that moral beliefs and decisions must stem from this sense of internal harmony and justice, as opposed to simple obedience to demands imposed from outside. However, Arendt anchors her own portrayal of moral autonomy in more Kantian terms of a categorical imperative and ultimately a sense of dignity and self respect that derives from acting with conscience. Nietzsche begins his second essay titled “‘Guilt’, ‘Bad Conscience’, and Related Matters”, with a mixture of observation and sarcastic wit, “The breeding of an animal which is entitled to make promises – is this not the paradoxical task which nature has said itself with respect to man?” (Nietzsche 39). In posing this question, Nietzsche is expressing the basic contradiction at the heart of so many modern moral systems, namely that society and civilization – the sources...
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...Chris promises Dina $40,000 if she graduates from Eagle College. Dina enrolls in Eagle, attends full-time for four years, and graduates. When Dina asks Chris for $40,000, Chris says, “I don’t remember promising you $40,000. But if there was a promise, it’s not enforceable, because we didn’t bargain for it. And even if there was a promise that would otherwise be enforceable, I revoke it now.” Can Dina enforce Chris’s “promise”? Why or why not? Starting at the beginning we must determine if this is a promise, gift or contract. Consideration distinguishes contracts from gifts. For there to be a contract there must be something of value given in exchange for the promise. In this case, Chris promised $40,000 in exchange for Dina graduating from a specific college, Eagle College. There was apparently a discussion about it that prompted Dina to enroll in and complete the course of study at that school. For the contract to be legally binding, there must be legal sufficiency and adequacy of consideration (fairness). Both the degree and the cash have value in the eyes of the law. We must however consider the fairness of the agreement, what value does Chris get from Dina’s completing school? Uncertain performance is related to promises exchanged when the performance of both parties is uncertain. Unfortunately for Dina, a promise is illusory. Illusory means based on illusion/not real. We should consider if a promissory estoppel could be put into place to enforce the promise...
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