Lake qaraoun essays

Lake qaraoun essays Garbage threat to Lake Qaraoun and Litani Dumping garbage in Lake Qaraoun in the Bekaa is an environmental threat which should be remedied before it turns into a disaster, said Nasser Nasrallah, head of the Litani River After touring the lakes banks, where the garbage is being dumped, Nasrallah appealed to officials to combat such illegal waste disposal. We have a serious environmental problem, Nasrallah said. If the situation doesnt change, we risk losing the water coming from one of our main sources, the Litani River. He urged officials at the Health and Environment Ministries and at the Council for Development and Reconstruction to address the environmental troubles of the Bekaa. Efforts should be made to implement a grand strategic plan in the Bekaa to get rid of the sewage and trash produced by factories and gas stations, he said. Starting in October, Nasrallah announced, his department will implement in collaboration with the Environment Ministry a plan which will stop environmental violations at the lake. We cannot tell people now to stop throwing their trash in the lake, he said. We have to secure other dumps before taking such measures. ...

CHAPS stands for the Clearing House Automated Essays

CHAPS stands for the Clearing House Automated Essays CHAPS stands for the Clearing House Automated Essay CHAPS stands for the Clearing House Automated Essay 1.Whether it Must Re Credit the ?10,000 to Dave’s Account It is first of import to understand how the CHAPS system works. CHAPS stands for the Clearing House Automated Payments System. It is the United Kingdom’s same-day payments system, a guaranteed irrevokable countrywide electronic sterling recognition glade and colony system, used chiefly for high-value payments. The CHAPS payment direction comprises the name of the payee, the sum of the payee, the sum of the payment, the particular sorting codification figure of the payee’s bank and the subdivision to which payment is to be made, and the payee’s history figure. Similar information must be given about the payer’s history so that the history may be debited on the computerised record of the histories of the paying bank’s client and so that the payee can be informed. Cash bank as an agent of Dave have a responsibility to transport out its responsibilities with sensible accomplishment and diligence. This responsibility is expressed in legislative act, in subdivision 13 of the Supply of Goods and Services Act 1982 and besides exists at common jurisprudence. Steyn J, in Barclays Bank V Quincecare: [ 1 ] â€Å"Prima facie every agent for wages is besides bound to exert sensible attention and accomplishment in transporting out the direction of his principle†¦ . There is no logical or reasonable ground for keeping that bankers are immune from such an simple duty. In my opinion it is an implied term of the contract between the bank and the client that the bank will detect sensible accomplishment and attention in and about put to deathing the customer’s orders.† The bank must hold existent authorization to pay, in this instance the bank has no authorization to pay the extra ?10,000. A Banker who pays the incorrect sum is surely apt to the client for any extra over the sum named in the original authorization. In claims between bank and client for unlawful payment, some common jurisprudence defense mechanisms are available to the paying bank every bit good as the protections given by statue. There is besides an just defense mechanism which allows the bank to debit the customer’s history in some state of affairss, despite wrong payment. The most of import of these is the just defense mechanism established in the instance of B Liggett ( Liverpool ) Ltd v Barclays Bank Ltd. [ 2 ] This will originate as a defense mechanism where the payment was made in satisfaction of a debt owed by the client to a 3rd party. This means that the bank is taken to hold made the payment on the customer’s behalf, so that the client may non challenge the debit. In Liggett’s instance, a bank, contrary to its authorization, honoured a company’s checks signed by one manager merely. The checks were drawn in favor of echt trade creditors, so that in consequence the bank had paid the company‘s debts. The company disputed the bank’s right to debit its history, claiming that the payment by the bank had been strictly voluntary, so that at common jurisprudence it could non retrieve the payment from its client. Wright J held that by virtuousness of the just philosophy the bank was entitled to stand in the topographic point of the creditors who had been paid and it could take advantage of the payment ; it was as if the company had simply changed its creditor ; it had non increased its liabilities. In order for the philosophy to run, it must be unconscientious for the client to retain the benefit of the discharge of debts by a 3rd party who has acted in good religion and in the beliefs that it has the necessary authorization [ 3 ] . So far as the regulation operates, it relates merely to Bankss ; there is no general philosophy that a 3rd party who pays another person’s debts without authorization is entitled to be reimbursed by the debitor. If the debt truly owes from the client, this defense mechanism has many advantages as it prevents unfair enrichment of the client and avoids the possibility of several jurisprudence suits. The bank merely maintains its debit to the client, and the payee retains the payment. Therefore in the state of affairs it would look that the bank may be able to debit the history of Dave and hence retrieve their â€Å"loss.† 2.Whether it May Recover the Overpayment from Edward A bank may pay money to a payee without authorization from its client because of an administrative mistake. If it is non protected by estoppel or some statutory defense mechanism, the bank may be unable to debit its customer’s history and be apt to the true proprietor of the check and may so seek to retrieve the sum wrongly paid from the receiver [ 4 ] . This is the state of affairs that has arisen here. If one individual pays money to another under a error of fact or jurisprudence, which caused him or her to do the payment, he or she is leading facie entitled to retrieve the money paid under a error [ 5 ] . Mistake ( or unfair enrichment ) merely allows recovery without scrutiny of mistake, until the point at which defense mechanisms are considered ; the Claimant can even retrieve despite its ain carelessness [ 6 ] . There are nevertheless certain demands that must be fulfilled, and these will be dealt with in bend. The first demand is that the money must hold been paid under a error. There has clearly been a error here as the money that should hold been transferred was ?10, 0000 and the money that has really been transferred was ?20,000. The 2nd demand is that the error must hold caused the payment. The relevant inquiry is whether the payment would hold occurred if the remunerator had non made the alleged error ( whether the error is one of fact [ 7 ] or of jurisprudence [ 8 ] ) . Therefore, if a payment under a error, and the remunerator is cognizant that the payment is non due, the remunerator may still retrieve the payment provided it would non hold been made but for the error [ 9 ] . The jurisprudence looks at whether or non the payee has been enriched at the disbursal of the remunerator. The payee so has the chance to raise any defense mechanism available, associating to the value given, or any hurt suffered by the payee, which would do it unfair for him or her to hold to return the payment. The consequence must be that by ground of the error the payee has been unjustly enriched. Furthermore the payee need non now of the error [ 10 ] . The 3rd demand is that the payment must non be within the authorization. If the payment was within the bank’s authorization from its client, the bank can non retrieve, because a debt is thereby discharged between bank and client. Therefore based on the information it would look that Cash bank and Dave may be able to claim the money that has been wrongly transferred to fidelity bank and Edward. This is because there is no demand that the Defendant be at mistake, and liability is hence rigorous. However there are defense mechanisms that can be raised and one of them in specific is of import to this scenario. Bona fide purchase will be a defense mechanism. A receiver who had given consideration for the payment is a bona fide buyer for value and the payment can non be recovered. If the payment is made for good consideration peculiarly – if it is paid to dispatch, and does dispatch, a debt owed to the payee by the remunerator, or by a 3rd party by whom he or she is authorised to pay the debt – the Bankss claim will neglect [ 11 ] . The defense mechanism of a bona fide purchase is a complete defense mechanism, irrespective of the existent value of consideration given [ 12 ] . If this defense mechanism failed, which seems improbable Edward would besides hold the defense mechanism of alteration of place. Change of place is a defense mechanism to all restitutionary claims [ 13 ] the defense mechanism that the suspect has changed his or her place in good religion in such a mode that he or she would endure an unfairness if called upon to refund the money wholly or in portion. The unfairness of necessitating the suspect to refund the money would so outweigh the unfairness of denying the complainant damages. Lord Goff said that he was dying non to suppress the development of the defense mechanism on a instance by instance footing in the usual manner. Nevertheless, some facets may already be normally accepted and there are some indicants as to the manner in which the jurisprudence may develop. The mere fact that money has been spent is non plenty ; there needs to be some hurt in the outgo. For illustration, if the receiver has used the money for a purchase which would non otherwise have been made, the defense mechanism should be available, because he or she has acted to their hurt on the religion of the gift [ 14 ] . It is hence improbable that the Bank will be able to retrieve the money that it has paid from Edward. 3.Whether It May Recover the Overpayment from Fidelity Bank The place is much the same for recovery from Fidelity Bank as it was from Edward in so far as that Cash Bank seem to fulfill all of the elements to let it to do a claim as â€Å"money paid under a error of fact or law.† It is non intended that these stairss will be repeated as the place is precisely the same for Fidelity Bank as Edward’s agent as it was for Edward. Prima Facie therefore it would look that Cash Bank may be able to retrieve the money from Fidelity Bank. However as with Edward there may be a defense mechanism unfastened to Fidelity Bank. The state of affairs that may be unfastened to them is that of ministerial reception. If the payment is made to an agent ( .i.e. the Fidelity Bank ) who has so passed the money to his or her chief before acquisition of the error, merely the principal and non the agent can be sued [ 15 ] . For this defense mechanism to win there are certain conditions that must be satisfied. Fidelity Bank must hold received the money bona fide because otherwise it would be conscienceless to retain it [ 16 ] , and it must hold had no notice of the Claimant’s claim before it disposed of the money. It must be able to demo that payment to the principal has really been made [ 17 ] . If payment has been made candidly, so fidelity bank will non be apt. Therefore if Fidelity Bank can demo that they did non become cognizant of the error before the money was placed in Edward’s history so they will non be apt to return to Cash Bank the money. Bibliography Cases B Liggett ( Liverpool ) Ltd v Barclays Bank Ltd [ 1928 ] 1 K B 48 Barclays Bank v Simms A ; Cooke [ 1979 ] 3 ALL ER 522 Barclays Bank V Quincecare [ 1992 ] 4 ALL ER 363 Buller V Harrison ( 1977 ) 2 Cowp 565 Crantrave Ltd v Lloyds Bank, The Times, April 24 2000 Calcium Holland V Russell ( 1861 ) 1 B A ; S 424 John v Dodwell A ; Co [ 1918 ] AC 563 Kelly v Solari { 1841 ) 9 M A ; W 54 Kleinwort Benson Ltd v Lincoln City Council [ 1998 ] 4 ALL ER 513 Larner 5 London County Council [ 1949 ] 2 K B 683 Lipkin Gorman v Karpnle Ltd [ 1991 ] 2 AC 548 Lloyds V Independent Insurance Co Ltd [ 1999 ] Lloyds Rep Bank 1 at Moses v Macferlan ( 1760 ) 2 Burr 1005 National Westminster Bank Ltd v Barclays Bank International Ltd [ 1975 ] 1 B 654 Nurdin A ; Peacock Plc v D B Ramsden A ; Co Ltd [ 1999 ] 1 ALL ER 941, Ch D Rahimtoola V Nizam of Hyderabad [ 1958 ] A C 379 Reckitt V Barnett, Pembroke and Slater Ltd [ 1929 ] AC 176 Re Cleadon Trust Ltd [ 1939 ] 1 CH 286 Re Jones Ltd V Waring and Gillow Ltd [ 1926 ] AC 670 Turvey V Dentons ( 1923 ) Ltd [ 1953 ] 1 Q B 218 Books Cranston R, ( 2002 ) â€Å"Principles of Banking Law† , Oxford University Press Ellinger E, Lomnicka E A ; Hooley R, ( 2002 ) â€Å"Modern Banking Law† , Oxford University Press Penn G A ; Wadsley J, ( 2000 ) â€Å"The Law and Practice of Domestic Banking† , Sweet and Maxwell 1

The questions below related to Managerial Economics Essay

The questions below related to Managerial Economics - Essay Example Through anchoring people are often overly influenced by outside suggestion. People can be influenced even when they know that the suggestion is not being made by someone who is better informed. (Kahneman & Tversky, 1999). Besides Expected Utility theory also do not seem to be in conformity with the rationality. The famous experiments conducted by Tversky and Kahneman suggested a revolutionary shift from the expected utility theory and clearly suggested than we humans are not essentially rational. These experiments were: We don’t always seem to be behaving according to rationality. The deviation from the rationality seems to be due to Satisficing and heuristics effects. The use of heuristics as a cognitive framework can lead us to errors and similarly satificing seems to be denying the rationality also. The phenomenon of self deception under which a person seems to be acting against what is expected. (Kakures, 1996) Thus the notion that whether a consumer is rational or not is little bit arbitrary in nature as consumers show both tendencies of rationality as well irrationality. Rationally in the sense that consumers considering their limited income, choices, risk appetite, take decisions so that utility is maximized however on the same hand consumers tend to involve themselves into impulse buying and all related activities which potentially point towards the irrational behavior of consumers. Rational thinking can define behavior like impulse buying etc due to the fact that consumers perceive value. There is also a phenomenon called framing effect which basically outlines that we decide differently depending on how we frame the decision based on the losses and gains. (Wang & Fischbeck, 2004). Thus if consumers perceive any gain or loss from making the purchase whether that purchase is rationally made or not is based on how she frames her decision