Acct 559 Quiz 1 Solution Free Essays

Quiz I (Chapters 1and 2) Date: Name: ID: Answer the following Questions: 1. Tower Inc. owns 30% of Yale Co. We will write a custom essay sample on Acct 559 Quiz 1 Solution or any similar topic only for you Order Now and applies the equity method. During the current year, Tower bought inventory costing $66,000 and then sold it to Yale for $120,000. At year-end, only $24,000 of merchandise was still being held by Yale. What amount of inter-company inventory profit must be deferred by Tower? A. $6,480 B. $3,240 C. $10,800 D. $16,200 E. $6,610 2. All of the following statements regarding the investment account using the equity method are true except A. The investment is recorded at cost B.Dividends received are reported as revenue C. Net income of investee increases the investment account D. Dividends received reduce the investment account E. Amortization of fair value over cost reduces the investment account 3. After allocating cost in excess of book value, which asset or liability would not be amortized over a useful life? A. Cost of goods sold B. Property, plant, equipment C. Patents D. Goodwill E. Bonds payable 4. A company should always use the equity method to account for an investment if A. it has the ability to exercise significant influence over the operating policies of the investee. B. it owns 30% of another company’s stock. C. it has a controlling interest (more than 50%) of another company’s stock. D. the investment was made primarily to earn a return on excess cash. E. it does not have the ability to exercise significant influence over the operating policies of the investee. 5. An upstream sale of inventory is a sale A. between subsidiaries owned by a common parent. B. with the transfer of goods scheduled by contract to occur on a specified future date. C. in which the goods are physically transported by boat from a subsidiary to its parent. D. ade by the investor to the investee. E. made by the investee to the investor. 6. In a situation where the investor exercises significant influence over the investee, which of the following entries is not actually posted to the books of the investor? 1) Debit to the Investment account and a Credit to the Equity in Investee Income account. 2) Debit to Cash (for dividends received from the investee) and a Credit to Dividend Revenue. 3) Debit to Cash (for dividends received from the investee) and a Credit to the Investment account. A. Entries 1 and 2 B. Entries 2 and 3 C. Entry 1 only D. Entry 2 only E. Entry 3 only 7. All of the following statements regarding the investment account using the equity method are true except A. The investment is recorded at cost B. Dividends received are reported as revenue C. Net income of investee increases the investment account D. Dividends received reduce the investment account E. Amortization of fair value over cost reduces the investment account 8. A company has been using the fair-value method to account for its investment. The company now has the ability to significantly control the investee and the equity method has been deemed appropriate. Which of the following statements is true? A. A cumulative effect change in accounting principle must occur B. A prospective change in accounting principle must occur C. A retrospective change in accounting principle must occur D. The investor will not receive future dividends from the investee E. Future dividends will continue to be recorded as revenue 9. A company has been using the equity method to account for its investment. The company sells shares and does not continue to have significant control. Which of the following statements is true? A. A cumulative effect change in accounting principle must occur B. A prospective change in accounting principle must occur C. A retrospective change in accounting principle must occur D. The investor will not receive future dividends from the investee E. Future dividends will continue to reduce the investment account 10. After allocating cost in excess of book value, which asset or liability would not be amortized over a useful life? A. Cost of goods sold B. Property, plant, equipment C. Patents D. Goodwill E. Bonds payable 11. How are stock issuance costs and direct combination costs treated in a business combination which is accounted for as an acquisition when the subsidiary will retain its incorporation? A. Stock issuance costs are a part of the acquisition costs and the direct combination costs are expensed B. Direct combination costs are a part of the acquisition costs and the stock issuance costs are a reduction to additional paid-in capital C. Direct combination costs are expensed and stock issuance costs are a reduction to additional paid-in capital D. Both are treated as part of the acquisition price E. Both are treated as a reduction to additional paid-in capital 12. Lisa Co. paid cash for all of the voting common stock of Victoria Corp. Victoria will continue to exist as a separate corporation. Entries for the consolidation of Lisa and Victoria would be recorded in A. A worksheet B. Lisa’s general journal C. Victoria’s general journal D. Victoria’s secret consolidation journal E. The general journals of both companies 13. At the date of an acquisition which is not a bargain purchase, the acquisition method A. Consolidates the subsidiary’s assets at fair value and the liabilities at book value B. Consolidates all subsidiary assets and liabilities at book value C. Consolidates all subsidiary assets and liabilities at fair value D. Consolidates current assets and liabilities at book value, long-term assets and liabilities at fair value E. Consolidates the subsidiary’s assets at book value and the liabilities at fair value 14. Which of the following statements is true regarding a statutory consolidation? A. The original companies dissolve while remaining as separate divisions of a newly created company B. Both companies remain in existence as legal corporations with one corporation now a subsidiary of the acquiring company C. The acquired company dissolves as a separate corporation and becomes a division of the acquiring company D. The acquiring company acquires the stock of the acquired company as an investment E. A statutory consolidation is no longer a legal option 15. In a transaction accounted for using the purchase method where cost is less than fair value which statement is true? A. Negative goodwill is recorded B. A deferred credit is recorded C. Long-term assets of the acquired company are reduced in proportion to their fair values. Any excess is recorded as a deferred credit D.Long-term assets of the acquired company are reduced in proportion to their fair values. Any excess is recorded as an extraordinary gain E. Long-term assets and liabilities of the acquired company are reduced in proportion to their fair values. Any excess is recorded as an extraordinary gain 16. In a purchase or acquisition where control is achieved, how would the land accounts of the parent and the land accounts of the subsidiary be combined? A. Entry A B. Entry B C. Entry C D. Entry D E. Entry E 17. In a pooling of interests, A. Revenues and expenses are consolidated for the entire fiscal year, even if the combination occurred late in the year B. Goodwill may be recognized C. Consolidation is accomplished using the fair values of both companies D. The transactions may involve the exchange of preferred stock or debt securities as well as common stock E. The transaction is properly regarded as an acquisition of one company by another Prior to being united in a business combination, Botkins Inc. and Volkerson Corp. had the following stockholders’ equity figures: Botkins issued 56,000 new shares of its common stock valued at $3. 5 per share for all of the outstanding stock of Volkerson. 18. Assume that Botkins acquired Volkerson as a purchase combination. Immediately afterwards, what are consolidated Additional Paid-In Capital and Retained Earnings, respectively? A. $133,000 and $360,000 B. $236,000 and $360,000 C. $130,000 and $360,000 D. $236,000 and $490,000 E. $133,000 and $490,000 19. Assume that Botkins and Volkerson were being joined in a pooling of interests and this occurred on January 1, 2000, using the same values given. Immediately afterwards, what is consolidated Additional Paid-In Capital? A. 138,000 B. $266,000 C. $130,000 D. $236,000 E. $135,000 20. Chapel Hill Company had common stock of $350,000 and retained earnings of $490,000. Blue Town Inc. had common stock of $700,000 and retained earnings of $980,000. On January 1, 2009, Blue Town issued 34,000 shares of common stock with a $12 par value and a $35 fair value for all of Chapel Hill Company’s outstanding common stock. This combination was accounted for as an acquisition. Immediately after the combination, what was the consolidated net assets? A. $2,520,000 B. $1,190,000 C. $1,680,000 D. $2,870,000 E. $2,030,000 How to cite Acct 559 Quiz 1 Solution, Essay examples

Global Branding

Question: Describe about the the process of global brand strategy development and regional implementation? Answer: The present article focuses on a recent topic on international marketing. As companies are using the advantage of globalization, global branding has become very popular form of marketing. The organizations are implementing best practices to make their brands alluring to the customers. It is important for the organization to formulate a particular strategy of global branding for the success of the particular brand (Moran, 2013). It is important for the organizations to have coordination between the home and host country in order to make a larger impact on the target audience. The impact of the similarity of the home and host country on the performance of the organization has been debated for a long period of time. The findings from the debate have been inconclusive. But many authors have concluded that the global performance of the small and medium sized firms depends on the strategic fit between its exploration and exploitation strategies which largely depends on the choice of the ho st country. The similarity between the home country and the host country has positive impact on the growth of the firm. The international performance of the home county depends on its strategic fit with the host country. The exploitation strategy has a positive impact on the performance of the home and host country. However it is seen that the exploration strategy has a negative impact on the International performance of the SMEs. Apart from the exploration and the exploitation strategies there are various factors that lead to the international success of the small and medium sized firms (Matanda Ewing, 2012). With globalization there has been convergence of the preferences of the consumers. This has increased the preference of the consumers to search for effective ways in which their product can make a position in the world wide competitive market. It is imperative for the organizations to use global branding strategies for the success of their business in order to maintain their profit margin. Co-ordination between the home and host countries is one of the important criteria for the success of the global branding (Hbswk.hbs.edu, 2015). In case of multinational organizations, the home countries should have a dynamic, interactive working relationship with the host country. The investment policies of the home country in global branding are affected by the international trade and industrial conditions. The socio political forces also affect the working relationship with the host country (Sinkovics Ghauri, 2009). In regard to this the OECD countries has taken several measures to break down the barriers between the home country and the host country. The policy in the host country is shaped by a number of domestic, political and market forces of the host country. In addition to the socio-political and the market forces, the internal climate affects the regulation and the market approach that is implemented by the host country. The interaction of the home and host country is predicated on the contingencies that are faced by both the parties (Ronkainen Czinkota, 2002). The success of global branding is possible is possible by ensuring strategic fit between the home and host country can be implemented using the Colemans classical formulation as the function of the parties mutual interest and control over the MNCs domestic production. The home country invests in the host country if it receives the following advantages in the host country. They are The host country should be able to offer employment and tax benefits. The host country will share the foreign trade or replacement of imports. The host country must be able to contribute to the domestic economic growth of the country. The available alternatives of the host country can be explored by the home country. The evaluation of the alternatives can be done by the comparison of the various alternatives. When the various companies in the host country offers comparable alternatives then the home country has less interest in starting business with the host country. Global branding has been used by various companies across multiple geographies for the expansion of the business. But global branding is subjected to regulatory policies of the host country. The control of the operation by the host country will also depend on the available alternatives of the home country. Competition among the various global brands has been profound (Holt, Quelch Taylor, 2004). The laws and regulation of the host country to control the operation exercised by the home country is known as the regulation policy. In exercising the regulation policies, the Government plays a major role. The market policy depends on the policies formulated by the Government. The intervention of the Government can also be characterized by the offensive defensive continuum. The offensive policy aims at maximizing the total national intake. The term total national intake is not restricted to the amount of taxes. It also includes other factors like the number of employees involved, transfer of new technology and stimulates the economic growth of the host country via exports (Zou Fu, 2011). There are various short run changes in the strategic position as a result of the offensive policy (Topics.nytimes.com, 2015). On the other hand, the defensive policies of the host countries are unpredictable and discontinuous in nature. The government of the host country undertakes defensive policies on the basis of the spectacular events like accidents in the industry, international tax manipulations and corruption that results in political reaction from the Government operating in the host country. The defensive policy is fundamentally non intervention policy (Brady, 2010).The companies like KFC , Mc Donalds , Pizza Hut , Dominos , LOreal , Lenovo has been successful worldwide by using effective strategies of branding that has converged the audiences and brought them to a single platform(The Economist, 2012). Globalization has opened up various avenues of the business worldwide and global branding has been one of the significant ways for the success of the business of the organization. References Brady, D. (2010). Essentials of international marketing. Armonk, NY: M.E. Sharpe. Hbswk.hbs.edu,. (2015). Articles About Marketing: Brand Management HBS Working Knowledge. Retrieved 4 February 2015, from https://hbswk.hbs.edu/topics/brandmanagement.html Holt, D., Quelch, J., Taylor, E. (2004). How Global Brands Compete. Harvard Business Review. Retrieved 4 February 2015, from https://hbr.org/2004/09/how-global-brands-compete Matanda, T., Ewing, M. (2012). The process of global brand strategy development and regional implementation. International Journal Of Research In Marketing, 29(1), 5-12. doi:10.1016/j.ijresmar.2011.11.002 Moran, G. (2013). 5 Strategies to Build a Global Brand. Entrepreneur. Retrieved 4 February 2015, from https://www.entrepreneur.com/article/226554 Ronkainen, I., Czinkota, M. (2002). Best practices in international marketing. Fort Worth: Harcourt College Publishers. Sinkovics, R., Ghauri, P. (2009). New challenges to international marketing. Bingley: Emerald Jai. The Economist,. (2012). Brand new. Retrieved 4 February 2015, from https://www.economist.com/node/21559894 Topics.nytimes.com,. (2015). International Trade and World Market (Trade Disputes). Retrieved 4 February 2015, from https://topics.nytimes.com/top/reference/timestopics/subjects/i/international_trade_and_world_market/index.html Zou, S., Fu, H. (2011). International marketing. Bingley: Emerald.

Uncitral Model Law Essay Example

Uncitral Model Law Essay Pepperdine Dispute Resolution Law Journal Volume 3 | Issue 3 Article 5 4-6-2012 UNCITRAL Model Law on International Commercial Conciliation: From a Topic of Possible Discussion to Approval by the General Assembly Robert N. Dobbins Follow this and additional works at: http://digitalcommons. pepperdine. edu/drlj Part of the Commercial Law Commons, Dispute Resolution and Arbitration Commons, International Law Commons, International Trade Commons, Legislation Commons, Other Law Commons, and the Remedies Commons Recommended Citation Dobbins, Robert N. 2003) UNCITRAL Model Law on International Commercial Conciliation: From a Topic of Possible Discussion to Approval by the General Assembly , Pepperdine Dispute Resolution Law Journal: Vol. 3: Iss. 3, Article 5. Available at: http://digitalcommons. pepperdine. edu/drlj/vol3/iss3/5 This Article is brought to you for free and open access by the School of Law at Pepperdine Digital Commons. It has been accepted for inclusion in Pepperdine Dispute Resolution Law Journal by an authorized administrator of Pepperdine Digital Commons. For more information, please contact Kevin. [emailprotected] du. Dobbins: UNCITRAL Model Law on International Commercial Conciliation: From UNCITRAL Model Law on International Commercial Conciliation: From a Topic of Possible Discussion to Approval by the General Assembly Robert N. Dobbins As has often been the case for this virtually unsung Commission of the United Nations, with little fanfare outside the United Nations earlier this year the General Assembly formally adopted the Model Law on International Commercial Conciliation (the Model Law) created by the United Nations Commission on International Trade Law (UNCITRAL; also the Commission). We will write a custom essay sample on Uncitral Model Law specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Uncitral Model Law specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Uncitral Model Law specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Readers should not misconstrue the quietude as something indicative of insignificance. The Model Law is landmark legislation in this age of globalization, providing a solid foundation on which UN Member States and businesses can build international commercial relationships with the comfort of knowing that they can control the outcome of the inevitable future disputes. By no means a Pulitzer Prize winner, for those interested enough to inquire, the story of the creation of the Model Law is remarkable. The purpose of this Note is to give a snapshot of how, what began in the shadow of Arbitration as a possible work topic considered by the Commission . . . Conciliation, in the space of two and one-half years be- came the Model Law. As a secondary and intentional focus of this note, this author (conceding his own bias) hopes to allow the Secretariat of UNCITRAL to enjoy its well-deserved moment in the spotlight for its monumental efforts in the creation of the Model Law. In the first section of this Note, we will review the structure of the Secretariat the working arm of the Commission. Here we will also examine the Working Group the representatives of Member States and Non-Government Organizations (NGOs) who helped to craft the wording and the spirit of the Model Law. The second section will discuss some of the background to the actual process by which the Model Law went from the Commissions suggested 1. Report of the Working Group on Arbitration on the Work of Its Thirty-Second Session (Vienna, 20-31 March 2000), United Nations Commission on International Trade Law A/cn. 9/ 468 (10 April 2000) [Working Group Report 468J. Produced by The Berkeley Electronic Press, 2003 1 Pepperdine Dispute Resolution Law Journal, Vol. 3 [2003], Iss. 3, Art. 5 work topic to approval by the General Assembly. In this section we will begin with a short introduction to the concept of a model law a uniform legislative text intended as a tool for stabilization in its assigned subject. We will also consider the shadow of arbitration from which the Model Law emerged and can be recognized as covering a subject conciliation wholly distinguishable from arbitration. In the third section, we will explore the evolution of the Model Law. We will follow the progress of what began as a possible topic for consideration and, after extensive debate, negotiations, and redrafting, found its way to the final draft. We conclude in the fourth section with a discussion of the final draft how, in one and one-half years, the Secretariat and the Working Group had developed the Model Law and readied it for delivery to the Commission. This section ends with the words of the General Assembly acknowledging the Commissions remarkable achievement as it adopted the Model Law. I. THE SECRETARIAT AND THE WORKING GROUP: WHERE THE WORK GETS DONE Based in the magnificent city of Vienna, Austria, the Secretariat is the hard-working arm of the Commission responsible for taking from idea to fruition the concepts identified by the Commission as important to international trade law. The Secretariats under-staffed senior lawyers from 2 several different countries, taking directions from the Working Groups, prepare the draft provisions and working paper reports for the Working Group. The Secretariat also delivers the Report of the Working Group to the Commission. The Commission entrusted the work on the Model Law to the Working Group on Arbitration (which later became the Working Group on Arbitration and Conciliation [the Working Group]) with directions to the Secretariat to prepare the necessary documentation. Besides the Secretariat, the Working Group participants occupy three tiers: States Members of the Commission; 3 States observers; 4 and, observers from interna2. With apologies to the Secretariat for what may appear to be short shrift, a full discussion of its valuable service is beyond the scope of this note. As of this writing, the Secretariat oversees six Working Groups, including Arbitration and Conciliation: Publicly Financed Infrastructure Projects; Transport Law; Electronic Commerce; Insolvency; and, Security Interests. 3. At its inception, these were: Austria, Cameroon, China, Colombia, Egypt, Finland, France, Germany, Honduras, India, Islamic Republic of Iran, Italy, Japan, Lithuania, Mexico, Nigeria, Russian Federation, Singapore, Spain, Sudan, Thailand, United Kingdom of Great Britain and Northern Ireland, and the United States of America. ttp://digitalcommons. pepperdine. edu/drlj/vol3/iss3/5 2 Dobbins: UNCITRAL Model Law on International Commercial Conciliation: From [Vol. 3: 529, 2003] PEPPERDINE DISPUTE RESOLUTION LAW JOURNAL tional organizations. 5 The Working Group met twice annually, once in Vienna and then in New York City. 6 The meetings are conducted quite formally: a Chair and Rapporteur are elected, an agenda adopted, and discussion among Working Group participants i s conducted by recognition from the Chair. Sessions are conducted in English with real time translations into French, Russian, Chinese, Arabic, and Spanish. All proceedings are recorded, except for the frequent and fascinating behind-the-scenes discussions held off the record. At the end of each days session, the Secretariat prepares comprehensive working paper reports of the proceedings, presents the reports to the translators, and has the reports ready for distribution before the next mornings session begins. Boiled down to their essence, the working paper reports state the proposed legislative provisions, including alternative wording, and reflect the Working Groups deliberations and conclusions had during the session regarding each provision and alternative. 7 The report serves as the starting point for the next days session, and the basis for the final report produced at the end of the two-week session. THE CONCEPT OF A MODEL LAW Before we examine the evolution of the Model Law, a brief explanation of the concept of a model law is useful. The term refers to a form of legislative text. The text is designed so that it can be adopted in total, without modification, by Member States legislatures, at which point it 4. The States Members sit on a rotating basis and, when not represented on the Commission, rotate into observer status. These were originally representatives from: Argentina, Canada, Costa Rica, Cuba, Czech Republic, Denmark, Indonesia, Lebanon, Morocco, Netherlands, Peru, Poland, Portugal, Republic of Korea, Rwanda, Saudi Arabia, Slovakia, Sweden, Switzerland, Turkey, Ukraine and Venezuela. . Though no less active participants, the NGO-observers were: Economic Commission for Europe; NAFTA Article 2022 Advisory Committee; Permanent Court of Arbitration at the Hague; Cairo Regional Centre for International Commercial Arbitration; Chartered Institute of Arbitrators; International Chamber of Commerce (ICC); and the International Federation of Commercial Arbitration Institutions. 6. Most likely attributable to budge t constraints, the Working Group now meets only once per year. 7. For an example of this, go to www. uncitral. rg, click on travaux preparatoires,click on UNCITRAL Model Law on International Commercial Conciliation, scroll down to Working Group Reports, then click on any or all of the four that are listed. Produced by The Berkeley Electronic Press, 2003 3 Pepperdine Dispute Resolution Law Journal, Vol. 3 [2003], Iss. 3, Art. 5 would become the law of that State; hence the term model. The legislative provisions are crafted so that they can be adapted to fit within the Member States legislative and procedural framework. It can also be referred to in commercial contracts as the law to be applied in the event of a dispute. The underlying philosophy is to afford stability and advancement of international commerce through uniformity. 8 II. IN THE SHADOW OF ARBITRATIONP If you have been with us since the beginning of this note, you have twice read the phrase in the shadow of arbitration. Given its importance to the evolution of the Model Law, let us set this phrase in context. As noted above, the Working Group began as the Working Group on Arbitration. The States Members, States and NGO observers are, in large part, those who created the globally recognized and highly respected UNCITRAL Model Law on International Commercial Arbitration. The Commissions view that conciliation may be merely an extension of international arbitration was apparent. It was thought that, the initial Commission Report states, even if ultimately no new uniform text would be prepared, an in-depth discussion by delegates from all major legal social and economic systems represented in the Commission, possibly with suggestions for un iform interpretation would be a useful contribution to 0 the practice of international commercial arbitration. 1 This arbitration shadow both fostered and framed the debate on the Model Laws provisions. Fortunately, Working Group participants comments made on and off the record provided continuing reminders that conciliation is and must be treated as a process fundamentally distinguishable from arbitration. 8. International commerce contemplates State-to-State transactions, State-to-private business transactions, and business-to-business transactions. In the right situation, the term can include business-to-consumer transactions. Each type of transaction occurs in the international arena, the term international ultimately being defined in the Model Law (see Article 1). 9. To review the Arbitration Model Law, go to www. uncitral. org, click on approved text, then click on UNCITRAL Model Law on International Commercial Arbitration. You can also find there the Guide to Enactment, which discusses the letter and spirit of the model legislation. Note also, for examples, the NGO observers and the head of the United States delegation Howard Holtzman, considered to be an icon in (if not a founding father of) international commercial arbitration. 10. Working Group Report 468, supra, note 1. http://digitalcommons. pepperdine. edu/drlj/vol3/iss3/5 4 Dobbins: UNCITRAL Model Law on International Commercial Conciliation: From [Vol. 3: 529, 2003] PEPPERDINE DISPUTE RESOLUTION LAW JOURNAL III. THE MODEL LAW EVOLVES We have a snapshot of the Secretariat and have been exposed to the make up of the Working Group. We have a notion of the concept of a model law and an understanding that the Model Law emerged from the shadow of arbitration. Let us look now at the Model Laws evolution. As a foundation for its considerations, the Working Group acknowledged the growing use of conciliation as a process of choice for resolving commercial disputes. Intending conciliation and mediation as synonymous terms, the Working Group confirmed . . . that the use of such non- contentious methods of dealing with disputes deserved to be promoted and that the work of the Commission in the area should be geared to such promotion. They also wanted the picture of conciliation to be painted with the broadest brush to encompass an array of proceedings where the parties sought assistance from an independent and impartial third person to help the disputants reach an amicable settlement. Confirming that the process contemplated was a non-binding method of dispute resolution, the Working Group recognized that procedural techniques used to facilitate settlement and the expressions used to refer to the proceedings (for example, mediation) may differ. Whatever the form of text to be prepared (legislative or non-legislative), and by whatever name the process might be called, the consensus was to limit the context to commercial disputes. Similarly, the Working Group was clear that the overriding proposition throughout their deliberations was that party autonomy throughout the dispute resolution process was paramount. The Working Group had as a backdrop the previously-adopted UNCITRAL Conciliation Rules. 2 Though more procedural, the Conciliation Rules provided a frame of reference for the Working Groups substantive considerations as it began development of the Model Laws structure. At the outset, concerns were raised regarding confidentiality of information disclosed by the parties during the proceeding. Couched in terms of admissibility of certain evidence in subsequent judicial or arbitral proceedings, the Working Group recognized this fundamental aspect of con11. Id. 12. UNCITRAL Conciliation Rules (1980); Resolution 35/52 Adopted by the General Assembly on 4 December 1980. Produced by The Berkeley Electronic Press, 2003 5 Pepperdine Dispute Resolution Law Journal, Vol. 3 [2003], Iss. 3, Art. 5 ciliation. Their aim was to prevent a spillover of information into subsequent judicial or arbitration proceedings. As to cases where the parties have not agreed on a rule [governing confidentiality] the Working Group suggested, . . . he model provision should state that it was an implied term of an agreement to conciliate that the parties undertook not to rely in any subsequent arbitral or judicial proceedings on evidence of the types of facts to be specified in the model provision. 3 In their initial considerations, the Working Group was also concerned with issues relating to the role of the conciliator: could she subsequently serve as arbitrator, as a party representative in a subsequent proceeding, or as a witness in a later dispute? Other topics viewed as important included questions relating to enforceability of settlement agreements reached in conciliation; whether it was appropriate for a sitting arbitrator to assume a role of conciliator during the arbitration; what effect would proceeding with conciliation have on the running of limitation and prescription periods; should provisions be made that would treat conciliation agreements as binding; and, were there guiding principles of conciliation proceedings that needed to be articulated in any uniform provisions. There was also concern raised over whether the Working Group should attempt to draft a conciliators code of ethics . . . to build confidence in the conciliation process by distilling issues 4from the best traditions and openly enunciating standards of practice. Lest we lose sight of where we are, the preceding discussion in this section addressed only the starting point for the Working Group as of March 2000. As of this writing, we are a mere three years later, with the Model Law having been approved by the Commission and adopted by the General Assembly. When the Working Group met in March 2000, the Secretariat had not yet been given the task of beginning the draft legislative provisions. Working Group sessions only occurred approximately every six months, and the final draft of the Model Law was agreed upon in November 2001. In other words, in three sessions over a year and a half, the Working Group and the Secretariat met its Herculean challenge of creating the Model Law. To put this in context, after the March 2000 session, the Secretariat commenced drafting the initial legislative provisions. Over the ten days of the next Working Group meeting six months later, they debated the draft provisions, directing the Secretariat to make changes, additions, deletions, 13. 14. Working Group Report 468, supra note 1. Id. http://digitalcommons. pepperdine. edu/drlj/vol3/iss3/5 6 Dobbins: UNCITRAL Model Law on International Commercial Conciliation: From [Vol. 3: 529, 2003] PEPPERDINE DISPUTE RESOLUTION LAW JOURNAL and providing insight into the philosophical and practical thinking upon which the provisions were based. The Secretariat then had only another six months to re-draft and have ready well in advance of the next Working Group meeting the working paper containing the revised provisions and the detailed discussion of the basis upon which these provisions were created. Moving forward to March 2001, again, a ten day extensive debate; again, daily preparation of reports; and again, a Report prepared by the Secretariat and adopted by the Working Group reflecting the progress on what had become apparent would be UNCITRALs next model law. In case the reader may think this authors use of the term Herculean was a bit melodramatic, let us not forget the Secretariats and Working Groups task. Think about it a moment: we are dealing with a concept neither generally recognized, understood, nor accepted as a means of resolving international commercial disputes. Working Group participants represent constituencies with as broad and diverse perspectives and experiences as are found in the global marketplace. On one end of the spectrum is the developing Third World Country, with little if any stabilized legal system let alone alternative dispute resolution procedures; on the other end, are the dominant and sophisticated economies of the US, the UK, and others. And, let us not overlook the impact of the NGOs perspective, and the influence from the shadow of arbitration. More than 50 participants trying to create a universally acceptable and uniform Model Law governing international commercial conciliation; melodramatic or not, the task was Herculean. The final version of the Model Law restructured, consolidated and removed provisions found in the first draft. 5 Party autonomy throughout the process continued to be a dominant theme. The development of confidentiality and the role of the conciliator reflected the importance to the Working Group of these two aspects of the Model Law. Refinements were made to assure a clear understanding of the concept of internationality, to guide the parties in their effort to determine the place for the conciliation proceeding, and to provide an expansive definition of conciliation to assure the broadest application of the Model Law. Significant debate was 15. For a more comprehensive review of the development of the final draft, see the Report of the Working Group on the Work of Its Thirty-Fifth Session; UNCITRAL document A/cn. 9/ 506. Produced by The Berkeley Electronic Press, 2003 7 Pepperdine Dispute Resolution Law Journal, Vol. 3 [2003], Iss. 3, Art. 5 had on provisions designed to address the enforceability of settlement agreements borne of the conciliation. The Working Group had extensive discussions on the issue of if and how a conciliation would effect the running of the statute of limitations. In continued deference to assuring that parties control the conciliation process, provision was made for them to vary or exclude portions of the Model Law. Extensive discussion, drafting and re-drafting were had to address concerns about the use of information obtained during a conciliation in subsequent proceedings. And if there was not enough drafting and debate going on, the Secretariat, at the behest of the Working Group, also prepared its Guide to Enactment and Use of the UNCITRAL Model Law on International Commercial Conciliation. Finally, the Secretariat and the Working Group were ready for the final push. IV. THE FINAL DRAFT, ADOPTION BY THE COMMISSION THE IMPRIMATUR OF THE GENERAL ASSEMBLY The on-the-record debate is concluded, the discussion in the hallways and the quiet negotiations over lunch, dinner, cocktails are behind them, and the final draft Model Law meets the approval of the Working Group at the end of its November 2001 session. To get there, a drafting group met daily, often-times more than once and into the evening, working with the Secretariat to formulate language for the various provisions to be considered by the Working Group. During the time leading up to the eventful November session, the Secretariat prepared the draft Guide to Enactment and Use of the UNCITRAL Model Law on International Commercial Conciliation. As stated in its preamble, this comprehensive document was created as background and explanatory material. In large part derived from the travaux preparatoires, [t]he Guide explains why the provisions in the Model Law have been included as essential basic features of a statutory device designed to achieve the objec6 tives of the Model Law. 1 The Guide states, In preparing and adopting model legislative provisions on international commercial conciliation, the .. .Commission was mindful that such provisions would be a more effective tool for States modernizing their legislation if accompanied by background and explanatory information. The Commission was also aware of the likelihood that the model provisions would be used in a number of States with limited familiarity with conciliation as a method of dispute settlement. Primarily directed to executive branches of Governments 16. Draft Guide to Enactment and Use of the UNCITRAL Model Law on International Commercial Conciliation; A/cn. 9/514 (27 May 2002). http://digitalcommons. pepperdine. edu/drlj/vol3/iss3/5 8 Dobbins: UNCITRAL Model Law on International Commercial Conciliation: From [Vol. 3: 529, 2003] PEPPERDINE DISPUTE RESOLUTION LAW JOURNAL and legislators preparing the necessary legislative revisions, the information provided in this Guide should also provide useful insight to other users of the text, including commer7 cial parties, practitioners, academics and judges. Prepared by the Secretariat, the Guide discusses issues left unsettled in the Model Law, recognizing that some provisions may need modifying to conform the Model Law to particular legal traditions and nuances of a State contemplating adoption of the Law. Following the Working Groups approval of the language for the final draft Model Law and the Guide to Enactment and Use, the Secretariat set upon the task of preparing the final Report o f the Working Group the vehicle by which the Model Law would be presented to the Commission. This included preparing the Compilation of comments by Governments and International Organizations, 18 these comments having been received after the Secretariat circulated the approved Draft Model Law. In June 2002, the Commission approved and adopted the Model Law and Guide to Enactment and Use as submitted in the Secretariats Report. From there, the Model Law found its way to and surmounted its last hurdle adoption by the General Assembly. At its 5 2 nd Plenary Meeting, 19 November 2002, the General Assembly adopted the following resolution, to which was annexed the approved Model Law: The General Assembly, Recognizing the value for international trade of methods for settling commercial disputes in which the parties in dispute request a third person or persons to assist them in their attempt to settle the dispute amicably, Noting that such dispute settlement methods, referred to by expressions such as conciliation and mediation and expressions of similar import, are increasingly used in international and domestic commercial practice as an alternative to litigation, Considering that the use of such dispute settlement methods results in significant benefits, such as reducing the instances where a dispute leads to the termination of a commercial relationship, facilitating the administration of international transactions by commercial parties and producing savings in the administration of justice by States, 17. 18. Id. UNCITRAL document A/cn. 9/513 Produced by The Berkeley Electronic Press, 2003 9 Pepperdine Dispute Resolution Law Journal, Vol. 3 [2003], Iss. 3, Art. 5 Convinced that the establishment of model legislation on these methods that is acceptable to States with different legal, social and economic systems would contribute to the development of harmonious international economic relations, Noting with satisfaction the completion and adoption by the United Nations Commission on International Trade Law of the Model Law on International Commercial Conciliation, Believing that the Model Law will significantly assist States in enhancing their legislation governing the use f modem conciliation or mediation techniques and in formulating such legislation where none currently exists, Noting that the preparation of the Model Law was the subject of due deliberation and extensive consultations with Governments and interested circles, Convinced that the Model Law, together with the Conciliation Rules r ecommended by the General Assembly in its resolution 35/52 of 4 December 1980, contributes significantly to the establishment of a harmonized legal framework for the fair and efficient settlement of disputes arising in international commercial relations, 1. Expresses its appreciation to the United Nations Commission on International Trade Law for completing and adopting the Model Law on International Commercial Conciliation, the text of which is contained in the annex to the present resolution, and for preparing the Guide to Enactment and Use of the Model Law; 2. Requests the Secretary-General to make all efforts to ensure that the Model Law, together with its Guide to Enactment, becomes generally known and available; 3. Recommends that all States give due consideration to the enactment of the Model Law, in view of the desirability of uniformity of the law of dispute settlement 9 procedures and the specific needs of international commercial conciliation practice. CONCLUSION The Model Law, as amplified by the Guide, gives testimony to the vision of the Commission, the Working Group and the Secretariat. The use of dispute resolution processes that empower the parties to find their own settlement especially conciliation or mediation is rapidly ascending. What this author has tried to do in this Note is give the reader a glimpse of development of the Model Law groundbreaking legislation of international magnitude that fundamentally contributes to stability in the global marketplace. It seems appropriate to conclude with the words from the presiding legal officer of the Secretariat. When asked about the Model Law, Jernej Sekolec commented, The UNCITRAL process provides universal applicability. The Model Law is prepared and approved by consensus of representatives from across the spectrum. In part, this makes the Model Law significant in international commercial dispute resolution. 19. Resolution adopted by the United Nations General Assembly; document A/res/57/18.

Russians And Bosnians Essays - Free Essays, Term Papers

Russians And Bosnians Essays - Free Essays, Term Papers Russians and Bosnians Historically and politically, the Bosnians and the Russians are a perfect match.This history started in the middle of the first thousand years A.D. when the tribes called the Southern Slavs migrated into the southeast area of Europe known as the Balkans. The Slav people as they are known, were separated from the Northern Slavs, that is, related Slavs in Poland, Czechoslovakia, and Russia, by the non-slavic tribes that settled the lands of Austria and Hungary. The Bosnians original ancestors were the Southern Slavs. They raided areas throught the Balkans including what is now modern day Serbia.This tribe eventually split up, mostly for religious and political reasons but also because the geography of the region is such that large groups of Slavs became separated and isolated from one another because of the difficult terrain. When religion came to the Balkans, where you were physically had as much to do with what religion you grew up with as other reasons. The Serbs who were closest to the Byzantine Empire geographically, took up the Eastern Orthodox Religion. The peoples in what is now Croatia, Slovinia and Bosina were infuenced by Rome and took up Roman Catholicisim. However, the Bosnians, who were alwasys being threathned politically by the Orthodox Christian Serbs as well as their Roman Catholic neighbors, by the fifteenth century had made apolitical decision to align themselves with the rising power of the Ottoman Empire, and converted to Islam. Russia, the country where most of the Southern Slavs came from had accepted the Eastern Orthodox religion at around the time the Serbs did. This religious bond between Russians and Serbs was very strong and the two groups supported one another for virtually their entire history up to and including modern times. The Serbs supported the Russians in almost all their wars and helped the Russians gain control of part of the Eastern Mediterraen from the Turks. This is why the Russians are deeply interested in this area and feel they have a special role to play in the current conflict. The Balkans are the reason that World War I had started. The Serbs of 1914 was as determined then, as they were for centuries, of preserving their independence in the Balkans. A wider war in the Balkans could risk the security of Europe, and possibly draw Moslen nations into the war. On a more imeadiate level, the reason for peace in Bosnia is so urgent is because cities, roads, bridges, have been destroyed in the conflict. A good example of this is Sarajevo, ( a major muslim city) that was known for its cultural mixture. It was the site of the 1988 winter olympics which welcomed hunreds of atlethes from all over the globe. The city is on the Bosinian-Serb border and has been shelled by both sides in the war. However, a far more important reason is to prevent this local war from starting a wider confrontation that would risk the security of Europe, and possibly draw in Moslem nations to support the Muslims in Bosnia. Russian soldiers are going to be among the troops keeping peace in Sarajevo as well as in other towns in Bosnia. The rusians are trying to improve relations with the U. S. and are doing so by working with the U.S. on keeping peace in the Balkans. Both President Yeltsin of Russia and Clinton Of the U.S., have met several times over this issue. They decide that a good way to improve rlations betwen the two countries. Part of the debate over rusian troops betwen Russia and the U.S. was who mwould command the Russsian troops if they were sent. The Russians did not want teir troops under a NATO command because they thought that Nato was anti- Russian. Another topic of their debate was where were the Russian troops to be deployed. The russians wnated to be deployed in Bosnian Serb teritory, and the U.S. wanted them deployed in Bosnian Croat territory. Finally an agreement was reached. The Russians would send fifteenhundred troops to Bosnia. They were scheduled to arrive in mid-December 1995. Both sides agreed that the Russian troops would report to their own commander, General Leonti P. Shetsov. Shetsov had worked with

Fun Movie Titles in Japanese and English

Fun Movie Titles in Japanese and English The Japanese enjoy movies, eiga (æ˜  Ã§â€ »), very much. Unfortunately, it is a little bit expensive to see movies at the theater. It costs ~1800 yen for adults. Houga (é‚ ¦Ã§â€ ») are Japanese movies and youga (æ ´â€¹Ã§â€ ») are western movies. The famous Hollywood movie stars are popular in Japan as well. Girls love Reonarudo Dikapurio (Leonard Dicaprio) or Braddo Pitto (Brad Pitt), and they want to be like Juria Robaatsu (Julia Roberts). Their names are pronounced in a Japanese style because there are some English sounds that dont exist in Japanese (e.g. l, r, w). These foreign names are written in katakana. If you have ever had a chance to watch Japanese TV, you might be surprised to see these actors quite often in TV commercials, something you will almost never see in North America.   Japanese Movie Translations Some youga titles are literally translated like Eden no higashi (East of Eden) and Toubousha (The Fugitive). Some use English words as they are, though the pronunciation is slightly changed to the Japanese pronunciation. Rokkii (Rocky), Faago (Fargo), and Taitanikku (Titanic) are just a few examples. These titles are written in katakana because they are English words. This type of translation seems to be on the increase. This is because borrowed English is everywhere and the Japanese are likely to know more English words than before. The Japanese title of Youve got mail is Yuu gotta meeru (You got mail), using English words. With the rapid growth of personal computer and email use, this phrase is familiar to the Japanese as well. However, there is a slight difference between these two titles. Why have is missing from the Japanese title? Unlike English, Japanese has no present perfect tense. (I have got, You have read etc.) There are only two tenses in Japanese: present and past. Therefore present perfect tense is not familiar and confusing to the Japanese, even to those who know English. Thats probably why have is taken away from the Japanese title. Using English words is an easy way to translate, but it is not always possible. After all, they are different languages and have different cultural backgrounds. When titles are translated into Japanese, they are sometimes turned into totally different ones. These translations are clever, funny, strange, or confusing. The word used most often in the translated movie titles is probably ai(æ„›) or koi (æ â€¹), which both mean love. Click this link to learn about the difference between ai and koi. Below are the titles including these words. Japanese titles first, then original English titles. Titles Japanese titles(Literal English translations) English titles Ai ga kowareru toki(When love is broken) Sleeping with the Enemy Ai ni mayotta toki (When lost in love) Something to Talk About Ai no sentaku(The choice of love) Dying Young Ai to iu na no giwaku(The suspicion named love) Final Analysis Ai to kanashimi no hate(The end of love and sorrow) Out of Africa Ai to seishun no tabidachi(The departure of love and youth) An Officer and A Gentleman Ai to shi no aida de(In between love and death) Dead Again Ai wa shizukesa no naka ni(Love is in the silence) Children of a Lesser God Eien no ai ni ikite(Living in the lasting love) Shadow Lands Koi ni ochitara(When falling in love) Mad Dog and Glory Koi no yukue(The place love has gone) The Fabulous Baker Boys Renai shousetsuka(A romance novel writer) As Good As It Gets The funny thing is there is no word love in all these English titles. Does love attract more attentions to the Japanese? Whether you like it or not, you cant ignore the Zero Zero Seven (007) series. They are popular in Japan as well. Did you know that in the 1967s You Only Live Twice, Jeimusu Bondo (James Bond) went to Japan? There were two Japanese Bond girls and the Bond car was a Toyota 2000 GT. The Japanese title of this series is Zero zero sebun wa nido shinu (007 dies twice), which is slightly different from the original title You Only Live Twice. It is amazing that it was shot in Japan in 60s. The views of Japan are not quiet right sometimes, however, you could almost enjoy it as a comedy. In fact, a few scenes were parodied in Oosutin Pawaazu (Austin Powers). We have had the lesson about yoji-jukugo (four character kanji compounds). Kiki-ippatsu (Ã¥  ±Ã¦ ©Å¸Ã¤ ¸â‚¬Ã© « ª) is one of them. It means in the nick of time and is written as below (see #1). Because 007 always escapes from danger at the last moment, this expression was used in the description for 007 movies. When it is written, one of the kanji characters (patsu é « ª) is replaced witha different kanji character (ç™ º) that has the same pronunciation (see #2). These phrases are both pronounced as kiki-ippatsu. However, the kanji patsu é « ª of #1 means hair which comes from to hang by hair, and #2 ç™ º means a shot from a gun. Phrase #2 was made up as a parodied word that has two meanings in botits reading and writing (007 escapes in the nick of time with his gun). Because of the movies popularity, some Japanese miswrite it as #2. (1)Ã¥  ±Ã¦ ©Å¸Ã¤ ¸â‚¬Ã© « ª(2)Ã¥  ±Ã¦ ©Å¸Ã¤ ¸â‚¬Ã§â„¢ º

Contract and Tort Case Study Example | Topics and Well Written Essays - 2250 words

Contract and Tort - Case Study Example The court recognized the right only when there is a remedy on the principle Ubi remedium ibi jus, which means where there is remedy there is right. One had to search for the proper remedy that suits his right then only he could succeed. If there was no remedy there was no right and there is no case. By passage of time the complicated litigations coming before the courts necessitated to change the concept of law. Accordingly the concept of law was changed as Ubi jus ibi remedium, which means where there is right there is remedy. This concept enable the courts to see that if there is a right existing then it will decide what is the remedy. Right of the litigant is given prominence over the remedies to protect the rights effectively. Under the new concept the courts have provided a remedy whenever there has been unjustifiable interference with the rights of a person. When the law of contract is read strictly, we find the rights are restricted to its terms and conditions. The law recognizes the rights that are specifically created by a contract and ignores if that right is not covered in the terms of contract. And such rights created by the contract are limited to only the parties to the contract, a third party do not derive any right against any of the parties to the contract even though the loss is caused to him due to the negligence. It provides relief to the parties to the contact only, that too it is limited to the extent of monitory or economic loss. The law of contract see whether there is any breach of contract by either of the parties to the contract but non else. The remedies in law of contract are strictly connected with the terms and conditions of the contract entered into by the parties. Once all the terms and condition of the contract are fulfilled no cause of action arises to either parties, even though any inconvenience caused due to unjustifiable interference by the other party with in the terms and conditions. But the law says that no person can interfere unjustifiably with the rights of the other person. If that happens the court provides remedy not under the law of contract but under the law of tort. This is how the tort overcomes the restriction involved in strict reading of the law of contract. The law fills up the gap in the law of contract mostly in cases of negligence of one of parties to the contract due to which the other part causes mental agony or physical or mental loss in addition to the economic loss. Some time the party who is not a party to the contract too subjects to the mental agony or physical loss due to the negligence act of the any other parson. In certain situations the courts cannot find any remedy in the law of contract, but the law of tort fills up this gap and provides the remedy. Contract and Tort inter relationship[9]: Contract and Tort have interrelationship as far as the remedies are concerned. Plaintiffs are at a liberty to choose the remedy either in law of contract or in Tort. The law of contract is specific and remedies under contract are time consuming and costly when compared to the Tort. As discussed above sometimes remedy cannot be found in contact in such conditions the remedy lies in the Tort. Where a dispute consists of ingredients of both contract and Tort as well then the plaintiff is at a liberty to choose the action either under contract or under Tort. It means that mere existence of all the ingredients of Contract do

Abortion Term Paper Essay Example | Topics and Well Written Essays - 3250 words

Abortion Term Paper - Essay Example The dominant reasons cited for procurement of abortions are broad and detail concern for or responsibility to other individuals; some women who procure an abortion assert that they cannot afford a child; others cite interference with school, work, or their capability to avail care for dependents while others dread of being a single parent or have problems with their husband or partner (Callahan 116). The discussion makes several clarifications, distinctions, and oppositions that propel the ethical considerations for or against abortion. The core question that manifests in this discussion encompasses two questions, namely: whether abortion is morally wrong. These are unique issues as not everything that is immoral can be regarded as essentially illegal. This essay develops a general argument dwelling on the claim that the vast majority of procured abortions are gravely immoral. Abortion infers the premature removal of a fetus from the Uterus prior to 28 weeks gestation, the random est ablished period of viability or prior to pregnancy reaching its full term. There are two forms of abortion, namely: miscarriage (spontaneous abortion) that happens mainly naturally, statistics indicates that close to 50% of pregnancies end in this manner (Callahan 117). Second, procured abortion encompasses intentional termination of the pregnancy mainly incorporating an operation to expel the fetus from the womb. Viability is entirely a relative term complete with value judgments, rather than a distinct descriptive entity. Although, abortion has over the years grown to become one of the most debate issues within bioethics, no moral consensus has been attained. The lingering debate on when abortions should be carried out, by what means, and the kinds on infants that should be saved demonstrate the complexity of the issue of abortion. The greatest difficulty presented, but abortion literature lies in spotlighting reliable philosophical and scientific arguments amid the dominating rhetorical manipulation (Bok 33). Academically, the issue of abortion centers on the balance between liberties both the mother, plus the baby. Theologically, the issue of abortion flows from two critical questions: 1) at what point is life considered beginning? (Whether at conception or birth); 2) if so, is it a sin to abort a fetus? The explanation suggested by the faiths detail that life commences at conception, and hence the baby is considered to be living from the conception (Monagle and Thomasma 17). Hence, it is a mortal sin (murder) to abort a fetus. The central argument that is mainly against abortion details that: the fetus is in essence an innocent person and it is morally wrong to terminate the life of a guiltless individual. Subsequently, it is morally wrong to terminate the life of a fetus. Some anti-abortionist will admit certain abortions such as abortion prior to implantation, or abortions procured the moment the life of the mother is threatened by a pregnancy, or abortion subsequent to a rape (Callahan 117). These cases of abortion may be considered to be morally permissible. B. The Moral Controversy Surrounding the Problem Public opinion on abortion can be categorized into three camps, namely: conservative, liberal, and moderate (or gradualist) all of which draws on both science and ethical thinking. Conservatives groups such as the Catholic Church perceive the fetus as a human being with full moral rights from conception onward. Conception in this case can be regarded as a critical point since this is the stage in which the embryo develops its distinct genetic code (Singer 189). Liberal approach, on the other hand, concedes that the fetus is