Law on Sales Essay Example

Law on Sales Essay Article 1458 of the Civil Code de? nes â€Å"sale† as a contract whereby one of the contracting parties (Seller) obligates himself to transfer the ownership, and to deliver the possession, of a determinate thing; and the other party (Buyer) obligates himself to pay therefor a price certain in money or its equivalent. 1 The Roman Law concept embodied in the old Civil Code2 that treated delivery of tangible property as the sole purpose of sale has been modi? d under the present Article 1458, which applies the common law concept of requiring the obligation to transfer the ownership of the subject matter of the sale as a principal obligation of the seller. 1. Nature of Obligations Created in a Sale The de? nition of the contract of sale under Article 1458 provides that its perfection brings about the creation of two sets of obligations: (a) Two OBLIGATIONS of the SELLER to: (i) Transfer the Ownership,3 and 1 Alfredo v. Borras, 404 SCRA 145 (2003); Cruz v. Fernando, 477 SCRA 173 (2 005); Roberts v. Papio, 515 SCRA 346 (2007). 2 Art. 445 of the old Civil Code. 3 Flancia v. Court of Appeals, 457 SCRA 224, 231 (2005), de? nes â€Å"ownership† as â€Å"the independent and general power of a person over a thing for purposes recognized by law and within the limits established thereby — aside form the jus utendi and the jus abutendi inherent in the right to enjoy the thing, the right to dispose, or the jus disponendi, is the power of the owner to alienate, encumber, transform and even destroy the thing owned. † 1 2 LAW ON SALES (ii) Deliver the Possession, of the SUBJECT MATTER; (b) An OBLIGATION for the BUYER to: (i) Pay the PRICE . Both sets of obligations, are real obligations or obligations â€Å"to give,† as contrasted from personal obligations â€Å"to do† and â€Å"not to do,† and can be the proper subject of actions for speci? c performance. 5 In contrast, obligations to do or not to do, cannot be enforced through actions for speci? c performance because of the public policy against involuntary servitude;6 although the creditor can have the same executed by another at the cost of the obligor,7 and the obligor’s refusal to comply can be the basis for claims for damages. To illustrate, Article 1480 of the Civil Code, which crossrefers to Article 1165 thereof, provides that when what is to be delivered is a determinate thing, the buyer, in addition to the right to recover damages, may compel the seller to make the delivery. In other words, a defaulting party in a sale cannot insist on just paying damages when the non-defaulting party demands performance. 2. Subject Matter of Sal e Although Article 1458, in de? ning sale, uses the word â€Å"determinate† to describe the subject matter of the sale, the present Law on Sales has expanded the coverage to include generic objects which are at least â€Å"determinable. Article 1460 states that the â€Å"requisite that the thing be determinate is satis? ed if at the time the contract is entered into, the thing is capable of 4 Acap v. Court of Appeals, 251 SCRA 30 (1995); Velarde v. Court of Appeals, 361 SCRA 56 (2001). 5 Art. 1165 of the Civil Code: â€Å"When what is to be delivered is a determinate thing, the creditor . . . may compel the debtor to make the delivery. If the thing is indeterminate or generic, he may ask that the obligation be complied with at the expense of the debtor. 6 Sec. 18(2), Art. III, 1987 Constitution. 7 Art. 1167, Civil Code. 8 Art. 1170, Civil Code. NATURE OF SALE 3 being made determinate without the necessity of a new or further agreement between the parties,† which incl udes â€Å"determinable† albeit generic objects as valid subject matters of sale. Nonetheless, the use of the word â€Å"determinate† in the de? nition of sale under Article 1458 seems accurate since it pertains to the performance of the obligations of the seller to transfer ownership and to deliver possession. We will write a custom essay sample on Law on Sales specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Law on Sales specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Law on Sales specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This would require that even if the subject matter of the sale was generic (determinable), the performance of the seller’s obligation would require necessarily its physical segregation or particular designation, making the subject matter determinate at the point of performance. The use of the word â€Å"determinate† to describe the subject matter emphasizes more speci? cally the fact that the obligation to deliver and transfer ownership can be performed only with the subject matter becoming speci? or determinate, and is not meant to exclude certain generic things from validly becoming the proper subject matter of sale, at the point of perfection. 3. Elements of Contract of Sale Coronel v. Court of Appeals,9 enumerates the essential elements of a valid contract of sale to consist of the following: (a) CONSENT, or meeting of the minds to transfer ownership in exchange for the price; (b) SUBJECT MATTER; and (c) PRICE, certain in money or its equivalent. 10 263 SCRA 15 (199 6). See also Jovan Land, Inc. v. Court of Appeals, 268 SCRA 160 (1997); Quijada v. Court of Appeals, 299 SCRA 695 (1998); Co v. Court of Appeals, 312 SCRA 528 (1999); Heirs of San Andres v. Rodriguez, 332 SCRA 769 (2000); Roble v. Arbasa, 362 SCRA 69 (2001); Penalosa v. Santos, 363 SCRA 545 (2001); Polytechnic University of the Philippines v. Court of Appeals, 368 SCRA 691 (2001); Katipunan v. Katipunan, 375 SCRA 199 (2002); Londres v. Court of Appeals, 394 SCRA 133 (2002); Manongsong v. Estimo, 404 SCRA 683 (2003); Jimenez, Jr. v. Jordana, 444 SCRA 250 (2004); San Lorenzo Dev. Corp. v. Court of Appeals, 449 SCRA 99 (2005); Yason v. Arciaga, 449 SCRA 458 (2005); Roberts v. Papio, 515 SCRA 346 (2007); Navarra v. Planters Dev. Bank, 527 SCRA 562 (2007); Republic v. Florendo, 549 SCRA 527 (2008). 10 9 4 LAW ON SALES When all three elements are present, there being a meeting of the minds, then a perfected contract of sale arises, and its validity is not affected by the fact that previously a ? ctitious deed of sale was executed by the parties,11 or by the fact of nonperformance of the obligations thereafter. Unfortunately, the Supreme Court has considered in a number of decisions that the resulting sale is â€Å"void† when some of the essential requisites are not present. 2 To the author, the more appropriate term to use when an essential element is not present at meeting of the mind is to declare a â€Å"no contract† situation. To illustrate, Dizon v. Court of Appeals,13 holds that all three elements of consent, subject matter and consideration must be present for a valid sale to exist; and that in a situation where any of the elements is no t present, â€Å"[t]there was no perfected contract of sale,†14 and that â€Å"the absence of any of these essential elements negates the existence of a perfected contract of sale,†15 rather than using the technical term â€Å"void. In Manila Container Corp. v. PNB,16 the Court held that absence of the concurrence of all the essential elements, the giving of earnest money cannot establish the existence of a perfected contract of sale. On the other hand, when all three elements are present, but there is defect or illegality constituting any of such elements, the resulting contract is either voidable when the defect constitutes a vitiation of consent, or void as mandated under Article 1409 of the Civil Code. Penalosa v. Santos, 363 SCRA 545 (2001). Mapalo v. Mapalo, 17 SCRA 114 (1966) and Rongavilla v. Court of Appeals, 294 SCRA 289 (1998), both consider the contract â€Å"void† even when they agreed that there was no meeting of the minds on the price stated in the underlying instrument of sale. Bagnas v. Court of Appeals, 176 SCRA 159 (1989), considers a simulated price or a nominal price to give rise to a â€Å"void† contract of sale. Cabotaje v. Pudunan, 436 SCRA 423 (2004), considers the lack of consent by the owner of the property to bring about a â€Å"void† sale. 13 302 SCRA 288 (1999). 14 Ibid, at p. 301. 15 Ibid, at p. 302. Reiterated in Firme v. Bukal Enterprises and Dev. Corp. , 414 SCRA 190 (2003). 16 511 SCRA 444 (2006). 2 11 NATURE OF SALE 5 4. Stages in the Life of Sale Strictly speaking, there are only two stages in the â€Å"life† of a contract of sale, i. e. , perfection and consummation, since it is only at perfection that sale as a contract begins to exist in the legal world. Until sale is perfected, it cannot serve as an independent source of obligation, nor as a binding juridical relation between the parties. 17 Nevertheless, the Supreme Court18 has considered the following to be the stages in the life of a sale: (a) POLICITACION, negotiation, or preparation stage; (b) PERFECTION, conception or â€Å"birth†; and (c) CONSUMMATION or â€Å"death. Policitacion or negotiation covers the period from the time the prospective contracting parties indicate their interests in the contract to the time the contract is perfected; perfection takes place upon the concurrence of the essential elements of the sale which are the meeting of the minds of the parties as to the object of the contract and upon the price; and consummation begins when the parties perform their respective undertaking under the contract of sale, culminating in the extinguishment thereof. 19 ESSENTIAL CHARACTERISTICS OF SALE Before dissecting sale as a contract, it would be useful to look at sale from a general point of view, by analyzing its essential characteristics. 17 Jovan Land, Inc. v. Court of Appeals, 268 SCRA 160, 164 (1997); Dizon v. Court of Appeals, 302 SCRA 288 (1999); Platinum Plans Phil. , Inc. v. Cucueco, 488 SCRA 156 (2006); Manila Metal Container Corp. v. PNB, 511 SCRA 444 (2006); Roberts v. Papio, 515 SCRA 346 (2007). 18 Ang Yu Asuncion v. Court of Appeals, 238 SCRA 602 (1994); Toyota Shaw, Inc. v. Court of Appeals, 244 SCRA 320 (1995); Limketkai Sons Milling, Inc. . Court of Appeals, 250 SCRA 523 (1995); Jovan Land, Inc. v. Court of Appeals, 268 SCRA 160 (1997); Province of Cebu v. Heirs of Ru? na Morales, 546 SCRA 315 (2008). 19 San Miguel Properties Philippines v. Huang, 336 SCRA 737, 743 (2000). 6 LAW ON SALES 1. Nominate and Principal Sale is a nominate contract since it has been given a particular name by law;20 more importantly, its nature and consequences are governed by a set of rules in the Civil Code, which euphemistically we refer to as the â€Å"Law on Sales. Sale is a principal contract, as contrasted from accessory or preparatory contracts, because it can stand on its own, and does not depend on another contract for its validity or existence; more importantly, that parties enter into sale to achieve within its essence the objectives of the transaction, and simply not in preparation for another contract. The â€Å"nominate and principal† characteristics of sale leads to the doctrine held by the Supreme Court that in determining the real character of the contract, the title given to it by the parties is not as signi? ant as its substance. 21 In one case,22 the Court held that in determining the nature of a contract, the courts look at the intent of the parties and not at the nomenclature used to describe it, and that pivotal to deciding such issue is the true aim and purpose of the contracting parties as shown by the terminology used in the c ovenant, as well as â€Å"by their conduct, words, actions and deeds prior to, during and immediately after executing the agreement. † In another case,23 the Court held that contracts are not de? ed by the parties thereto but by the principles of law; and that in determining the nature of a contract, the courts are not bound by the name or title given to it by the contracting parties. The other doctrinal signi? cance of the â€Å"nominate and principal† characteristics of sale is that all other contracts which have for their objective the transfer of ownership and delivery of possession of a determinate subject matter for a valuable consideration, are governed necessarily by the Law on Sales. 24 Art. 1458, Civil Code. Bowe v. Court of Appeals, 220 SCRA 158 (1993); Romero v. Court of Appeals, 250 SCRA 223 (1995); Santos v. Court of Appeals, 337 SCRA 67 (2000). 22 Lao v. Court of Appeals, 275 SCRA 237, 250 (1997). 23 Cavite Dev. Bank v. Lim, 324 SCRA 346 (2000). 24 In-depth discussions of this doctrinal signi? cance are found in Chapter 3. 21 20 NATURE OF SALE 7 2. Consensual Sale is consensual contract (as contrasted from solemn and real contracts), since it is perfected by mere consent, at the moment there is a meeting of the minds upon the thing which is the object of the contract and upon the price. 25 Buenaventura v. Court of Appeals,26 held that a sale over a subject matter is not a real contract, but a consensual contract, which becomes a valid and binding contract upon the meeting of the minds as to the price. Once there is a meeting of the minds as to the price, the sale is valid, despite the manner of its actual payment, or even when there has been breach thereof. If the real price is not stated in the contract, then the sale is valid but subject to reformation; if there is no meeting of the minds as to the price, because the price stipulated is simulated, then the contract is void. 7 Under Article 1475 of the Civil Code, from the moment of perfection of the sale, the parties may reciprocally demand performance, even when the parties have not af? xed their signatures to the written form of such sale,28 but subject to the provisions of the law governing the form of contracts. 29 Consequently, the actual delivery of the subject matter or payment of the price agreed upon are not necessary compo nents to establish the existence of a valid sale;30 and their non25 Art. 1475, Civil Code. Balatbat v. Court of Appeals, 261 SCRA 128 (1996); Coronel v. Court of Appeals, 263 SCRA 15 (1996); Xentrex Automotive, Inc. . Court of Appeals, 291 SCRA 66 (1998); Laforteza v. Machuca, 333 SCRA 643 (2000); Londres v. Court of Appeals, 394 SCRA 133 (2002); San Lorenzo Dev. Corp. v. Court of Appeals, 449 SCRA 99 (2005); Yason v. Arciaga, 449 SCRA 458 (2005); Ainza v. Padua, 462 SCRA 614 (2005); Cruz v. Fernando, 477 SCRA 173 (2005); Marnelgo v. Banco Filipino Savings and Mortgage Bank, 480 SCRA 399 (2006); MCC Industries Sales Corp. v. Ssanyong Corp. , 536 SCRA 408 (2007); Castillo v. Reyes, 539 SCRA 193 (2007); Roberts v. Papio, 515 SCRA 346 (2007). 26 416 SCRA 263 (2003). 27 Ibid, at p. 271, citing VILLANUEVA, PHILIPPINE LAW ON SALES, p. 4 (1998). 28 Gabelo v. Court of Appeals, 316 SCRA 386 (1999); Province of Cebu v. Heirs of Ru? na Morales, 546 SCRA 315 (2008). 29 Co v. Court of Appeals, 3 12 SCRA 528 (1999). Also City of Cebu v. Heirs of Candido Rubi, 306 SCRA 408 (1999); San Lorenzo Dev. Corp. v. Court of Appeals, 449 SCRA 99 (2005). 30 Alcantara-Daus v. de Leon, 404 SCRA 74 (2003); Buenaventura v. Court of Appeals, 416 SCRA 263 (2003). 8 LAW ON SALES performance do not also invalidate or render â€Å"void† a sale that has began to exist as a valid contract at perfection; non-performance, merely becomes the legal basis for the remedies of either speci? performance or rescission, with damages in either case. 31 The binding effect of a deed of sale on the parties is based on the principle that the obligations arising therefrom have the force of law between them. 32 In Fule v. Court of Appeals,33 the Court summarized the doctrines pertaining to sale being a consensual contract, thus: A contract of sale is perfected at the moment there is a meeting of the minds upon the thing which is the object of the contract and upon the price. 4 Being consensual, a contract o f sale has the force of law between the contracting parties and they are expected to abide in good faith by their respective contractual commitments. Article 1358 of the Civil Code which requires the embodiment of certain contracts in a public instrument, is only for convenience,35 and registration of the instrument only adversely affects third parties. 36 Formal requirements are, therefore, for the bene? t of third parties. Non-compliance therewith does not adversely affect the validity of the contract nor the contractual rights and obligations of the parties thereunder. 7 Since sale is a consensual contract, the party who alleges it must show its existence by competent proof, as well as of the 31 Gabelo v. Court of Appeals, 316 SCRA 386 (1999); Alcantara-Daus v. de Leon, 404 SCRA 74 (2003); Buenaventura v. Court of Appeals, 416 SCRA 263 (2003), citing this particular passage in VILLANUEVA, PHILIPPINE LAW ON SALES, p. 54 (1998). 32 Veterans Federation of the Philippines v. Court of Appeals, 345 SCRA 348 (2000). 33 286 SCRA 698 (1998). 34 Citing Art. 1475, Civil Code; Romero v. Court of Appeals, 250 SCRA 223 (1995). 35 Citing Aspi v. Court of Appeals, 236 SCRA 94 (1994). 36 Citing Olegario v. Court of Appeals, 238 SCRA 96 (1994). 37 286 SCRA 698, 712-713 (1998). Reiterated in Quijada v. Court of Appeals, 299 SCRA 695 (1998); Agasen v. Court of Appeals, 325 SCRA 504 (2000). NATURE OF SALE 9 essential elements thereof. 38 However, when all three elements of a sale are present, there being a meeting of the minds, then a perfected contract of sale arises, and its validity is not affected by the fact that previously a ? titious deed of sale was executed by the parties;39 and at that point the burden is on the other party to prove the contrary. 40 Despite the consensual character of a sale, under Article 1332 of the Civil Code, when one of the parties is unable to read, or if the contract is in a language not understood by him, and mistake or fraud is alleged, the person enforcing the contract must show that the terms thereof have been fully explained to the form er. 41 a. Modalities That Affect the Characteristic of Consensuality The consensual characteristic of sale can be affected by modalities that by stipulation may be added into the contractual relationship, such as a suspensive term or condition. Binan Steel Corp. v. Court of Appeals,42 reminds us that â€Å"even if consensual, not all contracts of sale become automatically and immediately effective. . . In sales with assumption of mortgage, the assumption of mortgage is a condition precedent to the seller’s consent and therefore, without approval of the mortgagee, the sale is not perfected. † On the other hand, National Housing Authority v. Grace Baptist Church,43 demonstrates clearly that even the delivery and taking possession of the subject matter by the buyer with the knowledge or consent of the seller, would not bring about the perfection and binding effect of the sale, when the meeting of the minds is incomplete, there being no agreement yet on the ? nal price. 38 Villanueva v. Court of Appeals, 267 SCRA 89 (1997); Roberts v. Papio, 515 SCRA 346 (2007). 39 Penalosa v. Santos, 363 SCRA 545 (2001). 40 Heirs of Ernesto Biona v. Court of Appeals, 362 SCRA 29 (2001). 41 Vda. de Ape v. Court of Appeals, 456 SCRA 193 (2005). 2 391 SCRA 90 (2002). 43 424 SCRA 147 (2004). 10 LAW ON SALES 3. Bilateral and Reciprocal Sale is a bilateral contract embodying reciprocal obligations, as distinguished from a unilateral contract, because it imposes obligations on both parties to the relationship,44 and whereby the obligation or promise of each party is the cause or consideration for the obligation or promise of the other. 45 Recipr ocal obligations are â€Å"those which arise from the same cause, and in which each party is a debtor and a creditor of the other, such that the obligation of one is dependent upon the obligation of the other. They are to be performed simultaneously such that the performance of one is conditioned upon the simultaneous ful? llment of the other. †46 The legal effects and consequences of sale being a bilateral contract composed of reciprocal obligations are as follows: (a) The power to rescind is implied, and such power need not be stipulated in the contract in order for the innocent party to invoke the remedy;47 (b) Neither party incurs delay if the other party does not comply, or is not ready to comply in a proper manner, with what is incumbent upon him;48 and (c) From the moment one of the parties ful? ls his obligation, the default by the other begins,49 without the need of prior demand. 50 Since both parties in a sale are bound by their respective obligations which are reciprocal in nature, then a party cannot Art. 1458, Civil Code; People v. Tan, 338 SCRA 330 (2000). Art. 1191, Civil Code; see also Vda. De Quirino v. Palarca, 29 SCRA 1 (1969). 46 Agro Conglomerates, Inc. v. Court of Appeals, 348 SCRA 450 (2000). See also Ong v. Court of Appeals, 310 SCRA 1 (1999); Mortel v. KASSCO, 348 SCRA 391 (2000); Carrascoso, Jr. v. Court of Appeals, 477 SCRA 666 (2005). See also Vda. De Quirino v. Palarca, 29 SCRA 1 (1969) as it pertains to an option contract. 47 Art. 1191, Civil Code. 48 Art. 1168, last paragraph, Civil Code; Almocera v. Ong, 546 SCRA 164 (2008). 49 Ibid. 50 Art. 1191, Civil Code. 45 44 NATURE OF SALE 11 simply choose not to proceed with the sale by offering also the other party not to be bound by his own obligation; that each party has the remedy of speci? c performance; and that rescission or resolution cannot be enforced by defaulting party upon the other party who is ready and willing to proceed with the ful? lment of his obligation. 51 Polytechnic University of the Philippines v. Court of Appeals,52 summed up the reciprocal and nominate nature of sale, thus: â€Å"It is therefore a general requisite for the existence of a valid and enforceable contract of sale that it be mutually obligatory, i. e. , there should be a concurrence of the promise of the vendor to sell a determinate thing and the promise of the vendee to receive and pay for the property so delivered and transferred. †53 Consequently, Carrascoso, Jr. . Court of Appeals,54 held that since a sale is constituted of reciprocal obligations, then â€Å"[t]he right of rescission of a party to an obligation under Article 1191 is predicated on a breach of faith by the other party who violates the reciprocity between them. † 4. Onerous Sale is an onerous contract, as distinguished from a gratuitous contract, because it imposes a valuable consideration as a prestation, which ideally is a price certain in money or its equivalent. 55 In Gaite v. Fonacier,56 the Court ruled that the stipulation in a contract of sale on the payment of the balance of the purchase price must be deemed to cover a suspensive period rather than a condition since â€Å"there can be no question that greater reciprocity obtains if the buyer’s obligation is deemed to be actually existing, with only its maturity (due date) postponed or deferred, than if such obligation were viewed as non-existing or not binding until 51 52 Almira v. Court of Appeals, 399 SCRA 351 (2003). 368 SCRA 691 (2001). 3 Ibid, at p. 705. 54 477 SCRA 666, 686 (2005). 55 Art. 1458, Civil Code. 56 2 SCRA 831 (1961). 12 LAW ON SALES the ore was sold. †57 The Court held that the rules of interpretation would incline the scales in favor of â€Å"the greater reciprocity of interests,† since sale is essentially an onerous contract. 5. Commutative Sale is a commutative contract, as distinguished from an aleatory contract, because a thing of value is exchanged for equal value, i. e. , ideally the value of the subject matter is equivalent to the price paid. Nevertheless, there is no requirement that the price be equal to the exact value of the subject matter; all that is required is for the seller to believe that what was received was of the commutative value of what he gave. 58 Again Gaite held that a sale is â€Å"normally commutative and onerous: not only does each one of the parties assume a correlative obligation (the seller to deliver and transfer ownership of the thing sold, and the buyer to pay the price), but each party anticipates performance by the other from the very start. 59 Gaite recognized that although in a sale â€Å"the obligation of one party can be lawfully subordinated to an uncertain event, so that the other understands that he assumes the risk of receiving nothing for what he gives (as in the case of a sale of hope or expectancy, emptio spei), it is not in the usual course of business to do so; hence, the contingent character of the obligation must clearly appear. 60 Gaite therefore acknowledged that obligation s in a sale can be subordinated to a suspensive condition with the party fully aware that â€Å"he assumes the risk of receiving nothing for what he gives,† although such stipulation may seem to be contrary to the commutative nature of a sale. This con? rms the view that although â€Å"commutativeness† is an essential characteristic of a sale, the test for compliance therewith is not objective but rather subjective; i. e. , so long as the party believes in all honesty that he is receiving good value for what he transferred, then it complies 57 58 Ibid, at p. 838. Buenaventura v. Court of Appeals, 416 SCRA 263 (2003). 59 2 SCRA 831, 837 (1961). 60 Ibid. NATURE OF SALE 13 with the commutative character of a sale, and would not be deemed a donation nor an aleatory contract. Take the example of a seller, selling his old car for only 5200,000. 00, when a more objective review of the prevailing market price for the particular model shows that its correct selling value would be 5500,000. 00. Under those circumstances, the contract perfected with the buyer would still be a sale, because by agreeing to receive a price of only 5200,000. 0, the seller believes honestly that he is receiving appropriate value for the car he is selling. Likewise, the consequences of negotiations and bargaining, such as being able to obtain a large discount, do not destroy the commutative nature of the sale, since in the end the test would be that the parties to the sale believe that they have each received the proper and appropriate value for what they eac h in turn gave up. However, the point of discussion pertaining to the subjective test of the commutative nature of sale cannot, and should not, be pushed to absurdity. Take a situation, where the same seller, knowing fully well that the going price for his car is 5200,000. 00, sells it for only 5100. 00 to the buyer. Even if the seller, is satis? ed in receiving only 5100. 00 for the car, the resulting contract, from a strictly legal standpoint, is not a sale, but more of a donation, and the law will presume that the underlying consideration must have been liberality. Therefore, the tax authorities may insist that the gift tax be paid on the transaction. This is all academic discussions, of course, since if no third party complains, the nature of the contract would never be at issue, and in all probability the contracting parties themselves would be bound by their characterization of the contract under the principle of estoppel. The subjective test of the commutative nature of sale is further bolstered by the principle that inadequacy of price does not affect ordinary sale. 61 Inadequacy of price may be a ground for setting aside an execution sale but is not a suf? cient ground for the cancellation of a voluntary contract of sale otherwise free 61 Arts. 355 and 1470, Civil Code; Ereneta v. Bezore, 54 SCRA 13 (1973). 14 LAW ON SALES from invalidating effects. 62 Inadequacy of price may show vice in consent, in which case the sale may be annulled, but such annulment is not for inadequacy of price, but rather for vitiation in consent. 63 Only recently Buenaventura v. Court of Appeals,64 held that: â€Å"Indeed, there is no requirement that the price be equal to the exact value of the subject matter of sale; all that sellers believed was that they received the commutative value of what they gave. All the respondents believed that they received the commutative value of what they gave. 65 6. Sale Is Title and Not Mode The perfection of a sale gives rise to the obligation on the part of the seller to transfer ownership and deliver possession of the subject matter; nevertheless, it would be delivery or tradition that is the mode to transfer ownership and possession to the buyer. Although in one case the Court de? ned a â€Å"sale† as a â€Å"contract transferring dominion and other real rights in the thing sold,†66 sale is merely title that creates the obligation on the part of the seller to transfer ownership and deliver possession, but on its own sale is not a mode that transfers ownership. 7 Thus, Alcantara-Daus v. de Leon,68 held that while a sale is perfected by mere consent, ownership of the thing sold is acquired only upon its delivery to the buyer. Upon the perfection of the sale, the seller assumes the obligation to transfer ownership and to deliver the thing sold, but the real right of ownership is transferred only â€Å"by tradition† or delivery thereof to the buyer. In Acap v. Court of Appeals,69 the Court held that an asserted right or claim to ownership, or a real right over a thing arising from Alarcon v. Kasilag, 40 O. G. Supp. 15, p. 203 (1940). Art. 1470, Civil Code. 4 416 SCRA 263 (2003). 65 Ibid, at p. 272. 66 Titong v. Court of Appeals, 287 SCRA 102 (1998). 67 Equatorial Realty Dev. , Inc. v. Mayfair Theater, Inc. , 370 SCRA 56 (2001); Alcantara-Daus v. de Leon, 404 SCRA 74 (2003). 68 404 SCRA 74 (2003). 69 251 SCRA 30, 38 (1995). 63 62 NATURE OF SALE 15 a juridical act, is not per se suf? cient to give rise to ownership over the thing; that right or title must be completed by ful? lling certain conditions imposed by law: â€Å"Hence, ownership and real rights are acquired only pursuant to a legal mode or process. While title (such as sale) is the juridical justi? ation, mode (like delivery) is the actual process of acquisition or transfer of ownership over a thing. † Acap held that the â€Å"Declaration of Heirship and Waiver of Rights† executed by the heirs waiving their inheritance rights in favor of a non-heir cannot be deemed a proper mode to affect title to the land involved because waiver of inheritance right can only be done in favor of another heir; whereas, it could not also be considered a sale contract because the document did not provide for the element of price, which is required for a valid sale under Article 1458 of the Civil Code. Manongsong v. Estimo,70 emphasized that once a sale has been duly perfected, its validity â€Å"cannot be challenged on the ground of the non-transfer of ownership of the property sold at that time of the perfection of the contract, since it is consummated upon delivery of the property to the vendee. It is through tradition or delivery that the buyer acquires ownership of the property sold. † Consequently, the proper remedy was not annulment, but rescission. Mode is the legal means by which dominion or ownership is created, transferred or destroyed (e. . , succession, donation, discovery, intellectual creation, etc. );71 title only constitutes the legal basis by which to affect dominion or ownership. Therefore, sale by itself does not transfer or affect ownership;72 the most that sale does is to create the obligation to transfer ownership; it is tradition or delivery, as a consequence of sale, that actually transfers ownership. 73 404 SCRA 683 (2003). Cited in San Lorenzo Dev. Corp. v. Court of Appeals, 449 SCRA 99, 113 (2005). 72 Quoted or used verbatim in San Lorenzo Dev. Corp. v. Court of Appeals, 449 SCRA 99, 113 (2005) without acknowledgment given to the author. 73 Equatorial Realty Dev. , Inc. v. Mayfair Theater, Inc. , 370 SCRA 56 (2001). The passage was quoted or used verbatim in San Lorenzo Dev. Corp. v. Court of Appeals, 449 SCRA 99, 114 (2005) without acknowledgment given to the author. 71 70 16 LAW ON SALES The Roman Law concept of sale encompassing only the obligation of the seller to deliver the property is actually consistent with the treatment of sale as merely a title, and by its perfection does not affect the ownership nor effect the transfer thereof to the buyer. Since it is tradition or delivery as the mode by which ownership over the subject matter is transferred to the buyer, the Roman Law concept of mandating delivery of possession of the subject matter as the essence of the sale contract would be logical. This is in stark contrast to the common law concept that the perfection of a sale over a determinate subject matter which is ready for delivery would legally transfer ownership to the buyer, even when there has been no actual or constructive delivery thereof by the seller. SALE DISTINGUISHED FROM OTHER SIMILAR CONTRACTS The other manner by which to â€Å"recognize† a sale is to know how to differentiate it from other contracts which may happen to have some characteristics similar to sale. The other contracts by which clear distinctions had to be made by the Supreme Court involved basically obligations to transfer ownership and deliver possession of a subject matter. In determining the nature or essential characteristic of a contract purported to be a sale, the Court has held that the title given to it by the parties is not as

New Role for Women in the Early Church Essays

New Role for Women in the Early Church Essays New Role for Women in the Early Church Essay New Role for Women in the Early Church Essay Church History I Theme Report New Role for Women in the Early Church This theme report analyzes how Jesus sent a new revolutionary message laying the groundwork for the elevation of the social status of women in the early church. The cultural norm of the day was that women were restricted to subordinate roles in society and the church. Jesus broke boundaries in his dealing with women and led his disciples to challenge those same boundaries as they took over leadership of the church. Luke’s Gospel story of Jesus in the home of Martha and Mary tells how Jesus was on the side f recognizing the full personhood of women. Mary’s sitting at Jesus feet in Luke 10:39 shows a violation of the social norms of the day. â€Å"She had a sister called Mary, who sat at the Lord’s feet listening to what he said. † Lesly Massey states in her book, Women and the New Testament, of critical importance is the fact that Jesus would be willing to sit in conversation with women in such a manner, or that he might have instructed them privately as a rabbi might instruct a promising student. This very fact, regardless of the spiritual depth of their talk, reveals an attitude toward women which was ncommon among Jews of Jesus day and reflective of his revolutionary manner. Massey asserts that Jesus is rejecting the second-class status of women in his society because according to the social laws of the day, only men were supposed to sit at the feet of a religious teacher and listen to his teaching. Women were supposed to stay out of sight and appear only to wait on the men. Jesus clearly rejects this double standard laying the groundwork for the elevation of women to a higher status in the new Christian church. According to the Gospels, the world was changing in 1st century Palestine, Martha and Mary represented the growing number of people who were responding to Jesus teachings. Both sisters attentiveness to Jesus as a guest in their house was not only an act of hospitality, but also a sign that they sought to understand his teachings. Their attentiveness shows the sisters as part of the movement as learners. † 1 The take away here is that this story does not show subordination of women and it shows boundaries being broken. Another insight on the same story with a focus on Martha is Satoko Yamaguchi’s Mary and Martha: Women in the World of Jesus, Yamaguchi identifies Martha as the leader of a house-church, that is, someone who cares for the practicalities needed for Jesus and his disciples to meet at her home. According to Yamaguchi â€Å"the context of the scripture implies that she frequently welcomed traveling missionaries and gave them food, shelter and possibly even financial support. In other words, Martha was one of the first church administrators (in Christian parlance, ad-minister is taken to mean in the service of ministry). Scholars now recognize that without women such as Martha to provide material support, the traveling ministry of Jesus and his followers could not have happened as effectively. † 2 Another theologian, Bonnie Thurston in Women in the New Testament says: â€Å"as I read the Gospels, under the reign of God, men and women are intended to work together in a discipleship of equals†. Thurston cites Constance Parvey’s essay â€Å"The Theology and Leadership of Women In The New Testament† in Religion and Sexism and states that â€Å"The New Testament gives two messages with regard to women. First it presents a theology of equality in Christ, a vision of equality on the theological level. But in practical parenesis many New Testament passages support woman’s subordination; that is they present a status quo ethic on the social level. Part of the power of Jesus’ proclamation of the reign of God had to do with the fact that it ushered in an entirely new mode of human existence. The fact that Jesus broke boundaries in his dealing with people led his disciples to challenge those same boundaries in their dealings with each other†. 3 Summary In the earliest days of the church, Jesus was taking steps to elevate women above their subordinate roles which was the not the cultural norm of his time. In Luke’s story of Jesus at the house of Martha and Mary, Jesus broke boundaries and broke with the status quo. The two sisters were full participants in his ministry and study. Mary elevated herself above her subordinate role by sitting at the feet of Jesus, clearly a sign of the elevation of women to a higher status in the new Christian church. Martha becomes a church leader by offering her house as a home church and by assisting in the traveling ministry of Jesus and his entourage. This story and the assertions of theologians quoted above shows Jesus breaking boundaries and breaking the cultural norms of the day which was to put women in a subordinate role unequal to men. 1 Lesly F. Massey, Women and the New Testament: An Analysis of Scripture in Light of New Testament Era Culture (Jefferson, N. C. : McFarland Co. , 1977, 19 2 Satoko Yamaguchi, Mary and Martha: Women in the World of Jesus (Maryknoll, N. Y. : Orbis Books, 2002, 46-47. 3 Bonnie Thurston, Women in the New Testament Questions and Commentary (New York, N. Y. : Crossroad Publishing Company, 1998, 160-161.

Develop an evaluation form that includes 7 objective criteria to Essay

Develop an evaluation form that includes 7 objective criteria to evaluate the effectiveness of the developed plan (regarding nursing shortage) - Essay Example After communication, the evaluation form would be distributed to personnel who would be deemed most appropriate to respond. The distribution of evaluation forms would be done the day after the monthly meeting. Collection of the responses would be undertaken the day after these evaluations forms are distributed. The data would be interpreted through collation and tallying, according to nursing units. The findings would be communicated by the assigned nurse manager to the department heads. The department heads would assign one department manager to integrate the findings for subsequent report to the vice president of nursing. Any weaknesses in the evaluation form could be identified and corrections would be recommended. The final report would be submitted to the board of directors for their review. After the board has reviewed the findings from the evaluation form and report, the results, recommendations, and conclusion would be disseminated to the involved personnel in the next scheduled monthly meeting. Health practitioners and nurses could therefore communicate any methods of improvement in achieving the identified objectives; as well as in suggesting any improvements in the evaluation process, as deemed necessary. Education Career Articles. (2014). The Latest Statistics on Nursing Shortage. Retrieved from educationcareerarticles.com:

Parents or Prisons Essay Example | Topics and Well Written Essays - 500 words

Parents or Prisons - Essay Example This paper would be dealing with. Morse’s arguments in three points. First, the article stated some news reporting the dumping of a dismembered body by two boys. Such news is common even before because the crime appeals to sensationalism that makes the reading public buy newspapers. Grisly accounts of murders, whether or not involving parents is common since ancient times. Then, the news article was linked by Ms. Morse to the budget cuts imposed by city Mayors except for the Department of Corrections. Apparently, the article missed to establish the main reasons why budget spending for prisons were not part of said budget cuts. The Department of Corrections spending needs to be increased simply because the increasing rate of population also produces a higher incidence of criminality. This doesn’t mean that majority of the crimes can be attributed to juvenile delinquency as caused by children from single-parent homes. There are many factors why the Bureau of Corrections h as to increase spending which the author failed to explain. Instead, the news reports were directly correlated to incidence of juvenile delinquency which lacked substantial evidence. Second, the article cited some studies that link mental illness and single parents.

Direct and Interactive Marketing Essay Example | Topics and Well Written Essays - 2500 words

Direct and Interactive Marketing - Essay Example The following is a discussion of strategic approaches in relation to the strengths and opportunities that the management seeks to accrue from the business environment. The details further establish the salient use of the variables in rebuilding the supermarkets’ strategic framework. Analyses for Morrisons’ supermarkets Situation analysis in Morrisons Morrisons has competently claimed its position in the U.Ks retail market through the lead in the delivery of quality food and groceries. The supermarket chain has grown tremendously after merging with Safeways Company. Morrisons invested in a total of 32 million pounds for online marketing to ensure prompt approaches to the clientele groups. This investment approach targeted to acquire the stipulated clientele given that the consumer groups were deviating from point-of-sale purchases to placing orders and expecting home deliveries (Vickers, 2013:3). The threat of competition is overwhelming in the UK’s retail market, factors articulated to Morrisons dwindling rate of profitability despite the struggle to retaliate accordingly by offering the best retail services in the UK market ahead of their fellow competitors. In 2011, the month of November, the company’s management evaluated that profitability rates were dwindling along various quarters, and their market leadership was falling under a continued rate of threat. The current forecasts implement that Morrisons’ supermarkets have competitively engaged in a recovery program to recuperate and yield profitability (British grocery market, 2012:4). The company shall possibly achieve the desired market edge through the expected success of the M-Local initiative. Direct marketing in determining market size and trends The strengths and weaknesses, opportunities and threats determine the rate of profitability in the market segments. Through the analytical approach, Morrisons’ management must determine of the approaches that seem most appropriate to reaching the desired market share. As the company currently holds 10% of the total market share, perceptions are that the management may ensure precise research and development study to ensure that all factors of the product mix favor the outlined specifications of prompt delivery of value and satisfaction at a profitable rate to the clientele community of the UK. As Morrisons competes with Tesco, Marks and Spencer, Asda, Sainbury, and Waitrose among others (Vickers, 2013:4). Morrisons held a worrying 10% market share as at November 2012 and situation reflected to the company’s diversification of investments through big stalls and shopping centers while competitors gradually adjusted to direct marketing approaches. The retail stores accrued importance through the purchase of online channels of communication (Dahle?n, and Lange, 2008:144). As rival competitors such as Tesco and Asda lose their market share -43% and due to the discovery that the beef sold in the market contained horsemeat up to 50%, the companies lost accordingly while Morrisons acquired over 20 small-sized stalls. SWOT analysis As the company evaluates of the probabilities of success to prosper and compete with others effectively, the management realized that the reinvestment rate of Asda and Tesco posed considerable threats to competition and success. The competing firms remained threatened by the rate of

The Changing Role Of The Management Accountant Commerce Essay

The Changing Role Of The Management Accountant Commerce Essay Charles Darwin the famous scientist who introduced the theory of natural selection said In the struggle for survival, the fittest win out at the expense of their rivals because they succeed in adapting themselves best to their environment. He used this theory to explain the extinction of the dinosaurs from the earth. I believe this theory in fact is not confined to species. It is a universal truth which is applicable to so many phenomena we see in our day to day lives. One such illustration is the transformation of finance function. The enormous change the corporate world underwent over the last few decades has inevitably pressurized the finance function to adapt to its operating environment. As a result, today the finance function is in the fore-front of decision making positioning itself as a business partner for the organization as opposed to a conventional support function. It is in this context that every organization today should embark on the journey of transforming its finance function to adapt to the challenges of the modern business environment. It is needless to exaggerate the changes this brings about in the role of the management accountant. However being humans it is natural for us to resist such change. What we should remember nevertheless is that if we fail to adapt to these changes, our destiny would not be different to that of dinosaurs. This reinforces the argument that tomorrows successful management accountants will be the ones who not only understand the need importance of finance transformation but also who take proactive measures to bring about effective change and eventually manage such change to ensure sustainability of the business. 2. Finance Transformation 2.1 How it has changed? Accounting Finance function over the centuries has evolved significantly from the basic double entry bookkeeping the revolutionary concept which started it all. Today we live in a world where global companies exist and the finance function like so many other things in human life has transformed itself to cater the ever increasing demands of modern day businesses. Let it be financial reporting, treasury management, budgeting or any other area in finance for that matter, there is visible transformation. For instance, bottom-line in financial jargon, only meant financial profitability until recently. But today organizations strive for a triple bottom-line which is way beyond the boundaries of financial profitability. A recent research conducted by CIMAs centre of excellence at the University of Bath concluded the following changes (see Figure 1) as the most frequent changes faced by businesses. Figure 1: Key changes faced by the Finance Function in the last decade Source: CIMA Centre for Excellence, Excellence in Leadership, December 2009, p.12 As per the above research data, an overwhelming majority of 96.4% has confirmed that there had been at least one change in their finance function for the period in concern. However the degree, to which these changes have been popular, may extremely vary with Cost reduction being the forerunner with a popularity of 59% while Outsourcing of non-routine tasks was confined to a mediocre 5.5%. The same study later classifies these changes to four broad types and also pinpoints two main motives behind these changes namely Cost efficiency and Value creation (See Table 2). Table 2: Classification of Changes Faced by the Finance Function Source: CIMA Centre for Excellence, Excellence in Leadership, December 2009, p.12 Cost Efficiency motive is where a business is keen to improve its output by using its resources more efficiently. On the other hand Value creation involves performing tasks in better ways whilst eliminating non-value adding activities such that the organization creates value in terms of profitability. It is clear from the data (See Figure 1) that it is the Cost Efficiency based changes which were more prominent in businesses during the last decade. As the research suggests, Cost Reduction and Business Process Re-engineering (BPR) appear logical steps for organizations as they grow. The economies of scale, firms are expected to achieve with its size, rationalize such change. Further the world economic crisis stemmed in 2007 prolongs to date would also have significantly influenced finance managers to run their businesses on tighter budgets and thus focus on efficiency based transformation. Although cost efficiency measures, up to now, have had the upper hand in finance transformation, it is expected that the value based changes would take precedence in times to come, as finance functions embark on the journey to achieve the visionary value creator status. 2.2 Why has it changed? So far we discussed how the finance function has evolved over the years. Let us now examine the underlying drivers which caused this dramatic change. This inevitably leads us to look at the changes that occurred in the environment in which businesses operate. One thing that surely comes to my mind is globalization. I believe this concept single handedly revolutionized the way people engaged in business. For instance virtual organizations such as Dell and online market places such as e-bay have not only been highly successful, but also have challenged the future viability of traditional business models. However globalization is only one among many drivers of change as per CIMAs recent research findings on finance transformation. In fact it ranks well below the likes of increased competition technological advancement which grabbed the top two spots in terms of popularity (See Figure 3). Figure 3: Drivers of organizational change ranked in terms of popularity Source: CIMA Centre for Excellence, Excellence in Leadership, December 2009, p.15 Increased risk and uncertainty and External reporting requirements achieved 3rd and 4th places respectively with market development coming next. It is important to mention the part played by the collapses of big corporate giants such as Enron, Worldcom and subsequent changes it created in the finance function especially in terms of risk assessment models and stringent reporting guidelines. The report further highlights some of the differences that exist within different business sectors. For example, demographics are as twice as popular driver in public sector compared to the private sector in which competition market dynamics are more prevalent. In financial services industry risk uncertainty is hailed above all drivers of change. All these drivers subsequently created pressure on the tradition finance function and new finance control models evolved to suit the new playing field. 3. The changing role of the management accountant in todays environment 3.1 The way forward So far we analyzed the nature of finance transformation and its underlying causes. It is now high time to look at the evolving role of tomorrows management accountant. Having acted as a steward for decades, today the finance professionals are increasingly pressurized to be a navigator or a business partner in performing his/her duties. With reference to the previously mentioned study done by CIMA, it is evident that Business partnering is clearly emerging as a way forward for finance transformation. Table 4: Business Partnering in finance function Source: CIMA Centre for Excellence, Excellence in Leadership, December 2009, p.11. In its research report, Finance transformation business partnering, CIMA Centre for Excellence defines business partnering as a behavior which involves members of the finance function acting as close advisors or internal consultants in greater collaboration and cross-functional working with others in the organization, so they can understand the business better, and provide the advice and support that is needed.  [1]   The idea here is, for finance members to actively participate in the decision making process and take collective ownership of the decision as opposed to being passive advisors. However in order to do so, the finance professionals not only need to posses technical knowledge in finance IT, they should also be equipped with extensive industry knowledge business acumen. In addition to that, the need for enhanced interaction across all the levels in the organization would mean that the management accountants need to master necessary communication and interpersonal skills. Further the traditional barriers that exist between departments would also need to be relaxed so that effective inter-functional associations are enabled. Erik ter Horst, Vice President Finance, CFO EMEA and Latin America, BT, offering insights to CIMAs survey adds for me, finance can only be functional if the finance function is a part of the whole organization  [2]  . However one might also argue that this may compensate the level of independence exercised by finance and hence affect the objectivity of its decisions. While acknowledging the possibility, Morten Sorensen, Finance Director Central Europe, Middle East and Asia Pacific, SSP, believes that the potential risk to the objectivity of finance function will be outweighed by the additional value generated at the end of the day it comes down to the integrity and professionalism of the individual.  [3]   3.2 Finance transformation and the role of the Management Accountant at Bodyline 3.2.1 Background: Bodyline Private Limited, a joint venture between MAST Industries, Triumph International MAS Holdings, is one of the largest lingerie sportswear manufactures in Sri Lanka with a workforce of around 6000 employees and an annual capacity of around 15 million pieces of bras. The company caters to some of the worlds most glamorous brands including Victoria Secret, Nike, Marks Spencer and Lane Bryant. Over the last couple of years Bodyline has synergized its multi product customer portfolio to its competitive advantage whilst investing on technologies such as bonding, 3D hemming and ultrasonic welding. However the company is constantly facing stiff competition from low cost manufacturers in Asian countries such as Bangladsh Vietnam, and as a result recently underwent drastic changes in its business model which in turn caused the finance function to transform accordingly. 3.2.2 Finance Transformation at Bodyline Table 5: Changes faced by the finance function at Bodyline Finance Function Change Example Type of Change Motive for Change 1 Greater emphasis on cost reduction Projects to curb major cost overrun areas. E.g. Overtime Tracking Mechanism Cost Reduction Cost Efficiency 2 Increased outsourcing of routine tasks Outsourcing of VAT Returns Process to a 3rd party BPR 3 Increased Use of Shared Service Centers for routine tasks Setting up a common commercial department in collaboration with MAS Intimates group 4 Increased work on product pricing Developments of Pre Post Order Profitability functions on SAP Product Focus Value Creation 5 Cross functional teams Formation of customer teams comprising of representatives of different departments including finance Focus on internal processes 6 Greater emphasis on poor performance within the organization Facilitating greater depth in Performance Management. (Catering to Business, Departmental Individual levels) 7 Increased external benchmarking of the whole organization Risk assessments and external benchmarking activities leading to sound business decisions being taken Source: Primary data collected from Bodyline The above diagram depicts functional changes experienced by Bodyline Finance and it could be directly compared with Table 2 in page 3. (CIMAs original model) 3.2.2.1 Cross Functional Teams:  A drastic structural change was introduced few months back where cross functional teams (representing virtually all the departments) were formulated to uniquely cater each customer. A business analyst was appointed to each team to represent finance and he/she adheres to a dual reporting structure where the individual reports to the Head of Finance as well as to the Head of the respective customer account. Each customer team sits together in a separate area within the factory so that interaction between the members is enhanced. However the transformation involved significant cultural change. People had to be convinced that the previous structure that had been adopted for the past 15 years was not the right way forward.   Members of finance worked very closely with the new leadership to change the internal structures reporting lines to logical cross functional business teams to support customer expectations. The management accountants involved in articulating the methodology of performance management systems including Key Performance Indicators as well as devising segmental reporting of customer bottom lines coupled with policy control deployment. This helped the people to understand the big picture and most importantly, where do they fit in to the new structure. The increased level of transparency helped us create a healthy competition among customer teams which in turn contributed to break the resistance to change whilst aggressively driving towards the achievement of business objectives. 3.2.2.2 Greater emphasis on poor performance: Performance management initiatives across many departments layers are being introduced with the direct involvement of finance which provides design to delivery solutions. For instance, the incentive scheme for sewing operators was changed to an efficiency based group incentive mechanism from an individual performance based incentive system, with finance department functioning as the project champion. This is one fine example where Bodylines finance function operated as a true business partner coming out of its comfort zones, co-operating with the other relevant departments and executing the project to perfection. It is noteworthy to mention that whilst executing this project, complex human dynamics of 6,500 people and the cost implications of providing incentives to all of them were considered. A series of information sessions had to be conducted to manage the knowledge transfer requirement in terms of the new system. Nevertheless a sign ificant increment in factory efficiency was noticed within the first month of project implementation. In order to facilitate such advance business requirements, the finance function was strengthened with people having dual backgrounds. In other words, apart from hardcore finance graduates, Bodylines finance team comprises of several apparel engineering graduates from the University of Moratuwa who are also qualified in CIMA. It is this unique resource combination that has enabled Bodylines finance team to successfully strive for excellence amidst numerous challenges. 3.2.2.3 Risk Analysis: The members of the finance department are also engaged in analysis assessment of risks facing the company, developing projections based on such risks to draw the attention of the management on high risk areas. For example early identification of the risks of Western economic recession, paved the way for the company to take immediate actions and thereby mitigate the impact of these adverse events at least to a certain extent. 3.2.2.4 Cost Reduction: As a follow up action plan to Budget Monitoring, the finance team in collaboration with other departments initiated 4 major projects to cut down companys overhead cost. These are namely Implementation of overtime cost tracking controlling mechanism A project to control transport expenditure A project to control courier charges A project to control stationary cost A project leader is appointed from Finance for each project and this individual is solely responsible for delivering the objectives of the project. The leader is expected to collaborate with relevant departments, device an action plan, follow up action points and present the progress at the next months budget monitoring session. Significant cost reductions were observed in each area with the inception of these projects. On the other hand, these projects offer a great opportunity for the budding management accountants to move out their comfort zones, actively involve in cross cultural teams, learn and become business partners who actively participate in achieving the companys strategic objectives.  Ã‚   3.2.2.5 Increased work on product pricing: To enhance the visibility of financial information at the Sales Order level, a project was initiated by finance with the collaboration of IT to develop SAP (the companys ERP system) based modules which calculates the expected profitability of a Sales order in the system itself. This process currently happens on spread sheets off the ERP system and as a result lot of information is duplicated and resources are wasted. The second phase of this project involves linking purchase order authorization procedure to sales order profitability so that an effective control on at the point of material purchases can be exercised. Yet again this is a challenging project which requires the individual to move out of the comfort zones of an accountant and work with System users/IT specialists and to gather system requirements and thereby ensure effective system development is achieved later. 4. Conclusion Modern day businesses experience change at a dramatic rate and whichever the ones that do not adapt quickly, would be gone before long. Being part of that business, the finance function can never isolate itself so should get accustomed to change. If the finance function has to change, that indirectly means the management accountants should expect their roles to frequently change in future. In fact it is the management accountants who are expected to manage the process of finance transformation. As their roles evolve, tomorrows management accountants will be expected to learn new skills (more often out of their comfort zones) work with cross functional teams and ultimately act as business partners who take responsibility for the collective decisions. Although we all tend to resist change initially, we also might feel it is after all not so bad. It certainly brings opportunities provided we take it in the right spirit we may end up being better off. The story of finance transformation at Bodyline is certainly of that type. Transforming was never an easy journey and it still is not. However as a team the finance function moved forward with positive attitude and as a result in the process has achieved so many milestones. As I conclude, the fundamental point I wish to bring up is that the finance transformation is inevitable. Irrespective of whether we like it or not its here to stay. However it is our decision either to embrace the change like a lizard which quickly changes its color to suit the environment and thereby survive through successful camouflaging or else ignore the change just like the dinosaur and simply extinct.

Computers and Medical Database Advances :: Essays Papers

Computers and Medical Database Advances Computers have revolutionized the way we do things in the medical field from the devised used the pharmacy to the databases used to keep patients medical records. Pharmacies, offices and hospitals have been able to take advantage of the benefit computers can bring to their companies. Computers make it easy to keep tack of their patients, as well as what medication they take in order to make it easier for everyone. Computers can be used to advance the uses of health care systems in hospitals in more ways than one. One of the first systems that use computers to store and transfer information for the use of giving advice and solving clinical problems is the HELP system. (Fitzmaurice) This system not only alerts physicians to abnormal and changing clinical values but can generate reminders for physicians. For example: A trial by Indiana University showed that tests for respiratory ailments were reduced by ten to thirty percent because the computer was able to remind the doctor to give a flu vaccine to those patients. In Beth Israel Hospital in Boston computers were also able to alert physicians when kidney failure was a risk. (Fitzmaurice) Another way that computers can benefit physicians in hospitals is the costs it can decrease. Physicians are able to order tests by computers which can automatically display cost affective testing. At Wishard Memorial Hospital in Indianapolis they saved $594 per admission when using computers to write all impatient orders.(Fitzmaurice) That is a total of more than three million dollars in projected hospital savings. Also the physician ordered fourteen percent fewer tests when using computers because the computer was able to show test results, test prices and abnormal results. (Fitzmaurice) By being able to write programs for computers that can contain a database full of patients makes it easier for everyone. In the 1980’s in order for pharmacies to process third party payors, it had to be done the old fashion way-via paper. With millions of people rushing to the pharmacy to get their medication, a more efficient way had to be established to process claims.(Sardinha) During the middle of the 1980’s pharmacies were able to establish online computer claims making it easier to bill insurance companies online.

Web-site Search

Decisions about who Is considered needy and how they are to be helped are dependent on our economic development, political views, and are often dependent on government resources (Stern & Axial, 2012). In research, primary data sources are beneficial when assisting the learner to completely understand every facet of a topic as It relates to the topic of discussion or a body of work. As it pertains to social welfare, it is vital to build a foundation which encompasses past, present and future happenings that will impact the body of work.While doing research web-sites about primary documents as it relates social welfare policy, the following site seemed useful http://www. Ass. Gob/history/PDF/heisted. PDF. The Historical Development document discusses the history of the U. S. Social Welfare structure. There is also an interactive timeline provided for the Social Security Acts and the Development of U. S. Social Security Programs. One is provided a sequential view of the progression of t he Development of U. S.Social Security Programs, such as unemployment, Public Assistance, Temporary Assistance for Needy Families In 1 996 TAN), Public Housing, National School Lunch Program and the Food Stamp Program, amongst many more programs. This tool has provided this learner an insight to the key historical, political and social events that have impacted our country. As The united States approached the sass's, the Great Depression was upon us, which resulted in our government taking a greater role in helping the poor and the establishment of the Social Security Act of 1935.As one continues to study the history of social welfare, we will began to gain a better understanding of what drives our programs as well as how we can contribute to their success. Reference: Axial, J. , & Stern, M. (2012). Social welfare: A history of the American response to need (8th deed. ). Boston, MA: Allan and Bacon. Http://www. Ass. Gob/holster/PDF/ Halsted. PDF. Web-site Search By Krishna reforms o f today. Be sure to format your citation in proper PAP format in your The history of Human Services is important for us to understand so we can grasp the goals of our current social welfare programs.

Judges and the Fugitive Slave Act essays

Judges and the Fugitive Slave Act essays Judges in the 18th and 19th century were often faced with a conflict regarding laws on fugitive slaves. Many held the opinion that slavery was wrong, but at the time the constitution did not prohibit slavery. In this essay I will first show the positivist argument, that law and morality are separate and their view of the Clause and the Fugitive Slave Act of 1850. Next, I will explain Anthony Seboks side, which uses Dworkins interpretation model of adjudication for a different reading of the laws. The debate I will analyze is between Robert Cover and Anthony Sebok. They argue different ways to read the Fugitive Slave Clause in the Constitution and the Fugitive Slave Act of 1850 I will then argue in favor of Sebok and show why I agree that the 1850 Fugitive Slave Act was unconstitutional. A positivist would say that law and morality are separate, and this must be reflected in judges decisions. Robert Cover supports this view. Cover analyzes Judges in the 18th and 19th centuries covering Fugitive Slave cases and in particular Judge Shaw. Cover says Judge Shaw was faced with a moral-formal dilemma. He says, referring to Shaw, he sees himself as torn between moral and legal duties. On the one hand, he believes slavery is immoral. On the other, he believes he is bound to uphold the rule of law (Cover, 148). Since each state was allowed to make their own laws on slavery, the moral-formal dilemma and the choice between the demands of the role and the voice of conscience (Cover, 153) is created. A positivist argues that judges must uphold the Constitution and the Fugitive Slave Acts in these cases. The Fugitive Slave Clause in the United States can be interpreted in different ways depending on political morality or personal beliefs. The Clause in the constitution rea ds: No person held to Service or Labor in one State, under the Laws thereof, escaping into another, shall, in consequenc...

Instance Variables in Ruby

Instance Variables in Ruby Instance variables begin with an at sign () and can be referenced only within class methods. They differ from local variables in that they dont exist within any particular scope. Instead, a similar variable table is stored for each instance of a class. Instance variables live within a class instance, so as long as that instance stays alive, so will the instance variables. Instance variables can be referenced in any method of that class. All methods of a class use the same instance variable table, as opposed to local variables where each method will have a different variable table. It is possible to access instance variables without first defining them, however. This will not raise an exception, but the variables value will be nil and a warning will be issued if youve run Ruby with the -w switch. This example demonstrates the use of instance variables. Note that the shebang contains the -w switch, which will print warnings should they occur. Also, note the incorrect usage outside of a method in the class scope. This is incorrect and discussed below. #!/usr/bin/env ruby -wclass TestClass # Incorrect! test monkey def initialize value 1337 end def print_value # OK puts value end def uninitialized # Technically OK, generates warning puts monkey endendt TestClass.newt.print_valuet.uninitialized Why is the test variable incorrect? This has to do with scope and how Ruby implements things. Within a method, the instance variable scope refers to the particular instance of that class. However, in the class scope (inside the class, but outside of any methods), the scope is the class instance scope. Ruby implements the class hierarchy by instantiating Class objects, so there is a second instance at play here. The first instance is an instance of the Class class, and this is where test will go. The second instance is the instantiation of TestClass, and this is where value will go. This gets a bit confusing, but just remember to never use instance_variables outside of methods. If you need class-wide storage, use class_variables, which can be used anywhere in the class scope (inside or outside of methods) and will behave the same. Accessors You normally cannot access instance variables from outside of an object. For instance, in the above example, you cannot simply call t.value or t.value to access the instance variable value. This would break the rules of encapsulation. This also applies to instances of child classes, they cannot access instance variables belonging to the parent class even though theyre technically the same type. So, in order to provide access to instance variables, accessor methods must be declared. The following example demonstrates how accessor methods can be written. However, note that Ruby provides a shortcut and that this example only exists to show you how the accessor methods work. Its generally not common to see accessor methods written in this way unless some sort of additional logic is needed for the accessor. #!/usr/bin/env rubyclass Student def initialize(name,age) name, age name, age end # Name reader, assume name cant change def name name end # Age reader and writer def age age end def age(age) age age endendalice Student.new(Alice, 17)# Its Alices birthdayalice.age 1puts Happy birthday #{alice.name}, \youre now #{alice.age} years old! The shortcuts make things a bit easier and more compact. There are three of these helper methods. They must be run in the class scope (inside the class but outside of any methods), and will dynamically define methods much like the methods defined in the above example. Theres no magic going on here, and they look like language keywords, but they really are just dynamically defining methods. Also, these accessors typically go at the top of the class. That gives the reader an instant overview of which member variables will be available outside the class or to child classes. There are three of these accessor methods. They each take a list of symbols describing the instance variables to be accessed. attr_reader - Define reader methods, such as the name method in the above example.attr_writer - Define writer methods such as the age method in the above example.attr_accessor - Define both reader and writer methods. #!/usr/bin/env rubyclass Student attr_reader :name attr_accessor :age def initialize(name,age) name, age name, age endendalice Student.new(Alice, 17)# Its Alices birthdayalice.age 1puts Happy birthday #{alice.name}, \youre now #{alice.age} years old! When to use Instance Variables Now that you know what instance variables are, when do you use them? Instance variables should be used when they represent the state of the object. A students name and age, their grades, etc. They shouldnt be used for temporary storage, thats what local variables are for. However, they could possibly be used for temporary storage between method calls for multi-stage computations. However if youre doing this, you may want to rethink your method composition and make these variables into method parameters instead.

Foundation Early childhood studies Essay Example | Topics and Well Written Essays - 2500 words - 1

Foundation Early childhood studies - Essay Example This research paper explores how factors such as family networks and social support, parent-child relationships, poverty, housing and the safety of the environment influences a child’s (0-6 years) early experiences and the consequences they have on the later well-being and health of that child. The main early childhood practices entail a baby’s brain development journey. Extensive researches on brain development demonstrate there is a close connection of the brain to emotional, social, and physical growth of individuals (EYFS, 2014). Thus, if such primary abilities are not initiated at early ages, they would effect a child’s learning capacity and advancing in education. Thus, all this initiation should be invoked from a health perspective because the well-being of the child would depend on the health status of the child. The health of young children aged (0-6 years) is essential to the overall development, school readiness, and well-being of children to avoid such instances as; higher rates of absenteeism in preschool, serious illness, emotional and physical distress, and even long-term disability (Crosson-tower, 2005). Provision of high-quality care in the early ages of development has a lasting implication on the child’s learning and development. Research shows that children experience faster growth in their first 3-years study than any other period in their later years. Therefore, if the children receive high quality care during these years they will tend to achieve higher results in school as well as develop better skills, which are necessary for future long learning (Barlow and Calam, 2011). Moreover, recent research articulates that the first five years of a child’s life influences and are important for the development of a child’s brain while the first three years are imperative for the development of the child’s brain architecture. Therefore, it is evident that the early 0-6 years are

Contemporary Issues In Business And Management Essay - 1

Contemporary Issues In Business And Management - Essay Example Recently, major proportion of the population shares their personal information through online. Data like medical records, credit card purchases and other important materials are recorded in several significant powerful databases. A contemporary issue can be defined as the issue that has a specific relevance to the present time. It can lead to several management problems and challenges, such as ethical issues, corporate and social responsibility issues that can affect the business performance of the organization (Rosenfield, 2006, p.43). The leading firms around the globe are trying to capitalize on the opportunities that have been established and reformed due to globalization and advanced modern information technology. Now-a-days, the business organizations are trying to bring innovation in their business process in order to achieve competitive advantages within the competitive global market. Facebook is the largest global social networking site. Over 500 million global people are co nnected with each other through this social networking site. ... However, the study will reveal Facebook’s several contemporary issues associated with the business ethics and social responsibility management. Analysis of Several Contemporary Issues The organization argues that there is no wrong in the social media promotional strategy. According to the organization, they already have recommended on their site to check in security settings before liking any page or status. The Facebook users are aware of the Facebook advertising activities (Mullerat, 2011, p.149). Since the year 2004, the organization has made numerous controversial moves related to privacy. The study will discuss and analyze several trends and prominent privacy incidents that have occurred over the organization’s lifetime. Permissive Defaults The organization used to select certain default privacy settings for the new initial sign ups. These settings are generally customizable, but several users of Facebook never bother to adjust the privacy settings. At the initial stages, the website has default privacy settings. At that point of time only college students were allowed to register as the website users. The organization has been able to increase its customer base in global market by implementing several unique business strategies (Poynter, 2010, p.253). A complaint was raised against Facebook that the organization is trying to sell the personal information and data of its users to other marketing organizations against money. The Advertising Standards authority has disclosed a code of advertising that has included the social responsibility clause. It aims to restrict the advertisers not to break the spirit of the rules. Initially, the organizations around the globe were posting free advertisements.