The Doctrine Of Insurable Interest Essay Example | Topics and Well Written Essays - 4000 words

The Doctrine Of Insurable Interest - Essay Example The earliest references to insurable interest simply emphasised this characteristic of insurance. Since the insurer's contractual undertaking was to indemnify the insured for patrimonial loss, the latter had to prove that he had a financial interest upon the happening of the insured event because there could be no loss without an interest. In this very respect insurance was considered to differ from a wager because wagers did not contain an indemnity clause. The English common law was much to the same effect until 1774 when the Life Assurance Act3 was adopted. This Act introduced some important changes. South Africa inherited the English doctrine of insurable interest. This was brought about by certain colonial legislation4 which adopted English insurance law in the then Cape Colony and the Orange Free State. For this reason English law must be considered. In the recent case of Feasey v Sun Life Insurance Corp of Canada the Court confirmed that the interest necessary for life assurance must sound in money. At the same time it acknowledged the differences between indemnity and non-indemnity insurance. Special emphasis is put on the question of precisely what interest the parties intended to insure. It is clear that English law has not made much progre... It has even been suggested that insurable interest in life assurance in many respects is clearly out of touch with reality and that reform is necessary. Some important aspects of the English rules on insurable interest have indeed become firmly entrenched by trade usage and no turn-around seems possible, e.g. the rule that a person may insure his or her own life and that of his or her spouse for any amount he or she deems appropriate. On the other hand, some important matters must after the repeal of the provincial ordinances be considered as being open. Thus the question may be asked whether the existence of an actual insurable interest at the time of contracting is a separate requirement in law for the validity of a true contract of insurance. May a future interest for instance be insured on condition that the interest materialises before occurrence of the insured event (http://www.ombud.co.za/res/pdf/INSURABLE%20INTEREST%20IN%20THE%20CONTEXT%20OF%20LONG.pdf) Here there are in effect two questions. The issue raised most commonly is whether the definition of insurable interest is too narrow. Should unmarried cohabitants not be able to insure each other's life even in the absence of financial dependency Should the requirement of a proprietary interest be retained The more fundamental issue is whether it is obligatory to keep hold of the doctrine of insurable interest at all. In United Kingdom it seems to have been eliminated for definite types of business.1 The problem will have to be measured in the light of apprehensions about moral risks and, at a lawful level, the probable result of the Gambling Act 2005, which makes gambling contracts enforceable. Although the 2005 Act has not

Olympic games and Chinese economy Essay Example | Topics and Well Written Essays - 2250 words

Olympic games and Chinese economy - Essay Example Next year, that distinction belongs to Beijing, an ancient city north of China, which is in the forefront of China's surging economy and the center of its political power. In the history of the Olympic movement, China is only the third Asian country - after Tokyo in 1964 and Seoul in 1986 - to host the prestigious Games. The International Olympic Committee chose Beijing over several other aspirants that included Toronto, Paris, Istanbul, and Osaka. The cities of Bangkok, Cairo, Havana, Kuala Lumpur, and Seville also submitted bids to host the Games, but failed to make the shortlist in 2000. Beijing is the fourth city - after Berlin (1936), Mexico City (1968), and Moscow (1980) -- under authoritarian rule to host the games. Its officials welcome the selection as an opportunity to showcase its newfound economic prosperity and to project a more positive image to the rest of the world. While economists believe Beijing is certain to achieve its grand objective of showcasing its vibrant ec onomy and projecting a more positive image in the eyes of the world, they are in disagreement over the Games' immediate impact on its economy. Soon after the announcement was made on the choice of Beijing as the next Olympic site, (Beijing Olympics 2008) the Chinese government announced that it will earmark $20 billion to modernize the city's infrastructure and facilities to improve its woefully polluted environment in time for the Games. That announcement alone is enough assurance that the Olympic Games is bound to spell a dramatic transformation for Beijing, although this figure has already doubled as of the latest count. It is commonly assumed that the scale of an Olympic event and the scale of the preparations for it will create large and lasting economic benefits to the host city. Economic impact studies confirm these expectations by forecasting economic benefits in the billions of dollars. Goldman Sachs Asia has made one of the more aggressive forecasts, predicting that the Games will increase China's GDP growth by 0.3 per cent annually between 2002 and 2008, citing service sectors such as tourism, transportation, information technology services and logistics as the areas for the greatest growth. On the other hand, JP Morgan said the event would increase GDP by no more than 0.05 per cent per year, a figure that hardly makes a difference in China's impressive double digit annual economic GDP growth. "The divergent views are due to different assumptions," said Huang Yiping, an analyst at Salomon Smith Barney. Those who are unmoved by the Games' economic drawing power claim no evidence of positive economic impacts from mega-sporting events even remotely approaching the estimates in economic impact studies. In a study of the impact of Super Bowls on local economies, (Robert A. Baade and Victor Matheson, 1999) found "no measurable impact on spending associated with the event." Their explanation is that capacity constraints in the hotel industry cause room prices to increase with no change in occupancy rates. Higher rates contribute to the crowding out of regular traffic and net spending in areas other than hotel rooms changes little, if at all. The same report claims that longer term sports programs, usually involving stadium subsidies to attract or keep professional teams, have also failed to deliver on projected economic benefits. Even for cities that usually are considered success stories for sports development strategy, such as Baltimore and

Television Is harming children Essay Example for Free

Television Is harming children Essay It is my belief that television has overstepped its boundaries. It is my belief that children are becoming desensitised towards violence. It is my belief that this is to stop. What if I was to tell you that there are, today, half as many art programmes as there were in 1992? What if I was to tell you that current affairs programmes have fallen by more than a third? The truth is that all television executives want to do is make money, they do not want to provide a service, and they do not want to make the world a better place. And the reason that these programmes do not make money is the change of our childrens cultures. They no longer want to watch a programme that is educational; they would rather watch meaningless rubbish that caters for the intellectually challenged. I know this because I am guilty of it. I would much rather watch the ninth series of friends than watch the news, and I would much rather watch the Simpsons than watch an art programme. Let me describe to you a period. In this time period television is useful; shows provide a public service whilst still maintaining good ratings. In this time television has a purpose, which it lacks in this modern time. This time was when television was first produced. Its maker intended it to inform the masses about day-to-day events and problems, but this ideal has spiralled out of control. Your children are becoming desensitised, not only to sex, regularly displayed before the watershed, but to violence as well. Children growing up will become young men, and these young men will copy what theyve seen on television. You all know what impressionable young children are capable of. It has happened recently; a trio of gangsters, barely twenty, gunned down two innocent girls at a New Year party as a result of gang warfare. These people have to get their ideals somewhere, and if they are not in a strong family they will look to other mediums for guidance, like television, like videogames, and they will think the things are idols do are alright. Let me tell you this is not the case! Just recently there has been a story running in Coronation Street of a murderer and a drug dealer, and in the final episode two people were graphically murdered with a crowbar! And this was at seven thirty, well before the watershed. We are in the year of the couch potato. 78 % of people under sixty in the United Kingdom watch more television than read books. And if this television is of the aforementioned quality then this disturbs me. What about the literary skills that will be wasted? TV Quiz shows such as the weakest link and Who wants to be a millionaire, which value, random factual knowledge over, deeper understanding are creating a generation of vacuous teenagers, according to a leading Headmaster. Dr Giles Mercer, head of Prior park College in Bath believes that unless teenagers are fed a more demanding diet by the media they will become cynical about politics and apathetic about voting. So television is actually harming your children. So think of the children brought up to watch soaps rather than read a good book, which provides entertainment whilst also benefiting the child involved. But as long as we are entertained, right? Wrong! Television has pushed its limits; certainly there have been some events worthy of recognition, but in the main the programmes shown are demolishing our morals, they are making us complacent about the world around us. Not many people could argue Jerry Springer has a positive impact on our nations youth. If we were to believe everything television told us then we would all be certain that bombing Iraq is the right thing to do. The remaining factual programmes are often biased and do not show the big picture, e.g. what about the refugees, what about the children, are they part of Saddams regime? There are people who believe, as I do, that television could be beneficial for us; Tess Alps, deputy chairman of the media agency writes, I believe that the recent dumbing down of programmes and relaxation of censorship is wrong. Television could be successful, and informative but Television chiefs just dont want to see it.

A Study On Internet Banking In Nepal

A Study On Internet Banking In Nepal This research is the effort for study and analyzing the Internet Banking in Nepal Bank Limited. Internet Banking can be defined as the use of technology to communicate instructions to and receive information from a financial institution where an account is held. Internet Banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business or obtain information on financial products and services through a public or private network, including the Internet. Since the launch of Internet the large planet has become a smaller one. It has rendered enormous impacts on business sectors. Remarkable development in Information and Communication Technology (ICT) has introduced a global revolution in banking industry. The global trend in business arena set some challenge that cannot be fulfilled with the help of the traditional banking system. The survey of current banking system in Nepal reveals the fact that it requires rapid modification and adaptation to keep harmony with the world economy business. It becomes more obvious by observing the increased number of customers in some modern bank while others are losing them. The existing banking system in our country is slow and error-prone. In one hand, fails to meet the customers demand and it causes some significant losses both for the banking authority and traders. E-Banking, on the other hand solves the above problems. Furthermore, it opens up some other salient aspects such as increased foreign trade and foreign investment. Most plan allow customers to perform all routine transactions, such as account transfers, balance inquires, bill payments and stop payment requests everything but its very easy to set up an account. We can access our account information anytime day or night and we can do it from anywhere. A few online banks update information in real time, while others do it daily. 1.2 Introduction of Origin and Growth of Bank in Nepal The growth of banking in Nepal is not so long. In comparison with other developing or developed country, the institutional development in banking system of Nepal is far behind. Nepal had to wait for a long time to come to this present banking position. The origin of bank in Nepal and its beginning of growth is controversial. Even though the specific date of the beginning of money and banking deal in Nepal is not obvious, it is speculated that during the reign of the King Manadev, the coin Manank and Gunank during the reign of the King Gunakamadev were in use. After the establishment of Nepal Bank Limited on 30th Karkik, 1994 (1938), modern banking system started in Nepal. Under the Nepal Rastra Bank Act 2012 (1956), Nepal Rastra Bank was established in 2013(1957) Baisakh 14th in Nepal. But this act has been repealed and the Nepal Rastra Bank Act 2058(2002) has been enacted by the parliament. After its establishment, it issued the Nepali notes on 7th Falgon 2016 for the first time. Gradually, bank develop their services in Nepal according to requirement of customers and to compete market so today we can transact via non cash elements : like Internet Banking, Credit Card, ATM Card and SMS banking etc. 1.3 Nepals ICT Background Nations worldwide have recognized development opportunities and challenges of the emerging information age characterized by Information and Communication Technologies (ICT). These technologies are driving national development efforts worldwide and a number of countries in both developing and the developed world are exploring ways of facilitating their development process through development, deployment and the exploitation of ICT within their economies and societies. Nepals journey into the world of information technology began some three decades back with the use of IBM 1401 for the population census, 1971. Royal Nepal Academy for Science and Technology (RONAST), for the first time, used the internet. Mercantile Private Limited started email services for commercial purpose in June 1994. In 1995 government purchased the machine for further data processing in the Bureau of Statistics and established a separate organization called Electronic Data Processing Center (EDPC) and after 6 years it converted to National Computer Center (NCC). Government has formed High Level Commission for Information Technology (HLCIT), which is playing the role of facilitator between private and public sector in the development of ICT in Nepal. 1.4 Introduction of Internet Banking Internet banking refers to systems that enable bank customers to access accounts and general information on bank products and services through a personal computer (PC) or other intelligent device. Internet banking products and services can include wholesale products for corporate customers as well as retail and fiduciary products for consumers. Ultimately, the products and services obtained through Internet banking may mirror products and services offered through other bank delivery channels. Some examples of wholesale products and services include: Cash management. Wire transfer. Automated clearinghouse (ACH) transactions. Bill presentment and payment. Examples of retail and fiduciary products and services include: Balance inquiry. Funds transfer. Downloading transaction information. Bill presentment and payment. Loan applications. Investment activity. Other value-added services. Other Internet banking services may include providing Internet access as an Internet Service Provider (ISP). The OCC has determined that a national bank subsidiary may provide home banking services through an Internet connection to the banks home banking system and, incidental to that service, may also provide Internet access to bank customers using that service. Historically, banks have used information systems technology to process checks (item processing), drive ATM machines (transaction processing), and produce reports (management information systems). In the past, the computer systems that made the information systems operate were rarely noticed by customers. Today, Web sites, electronic mail, and electronic bill presentment and payment systems are an important way for banks to reach their customers. 1.5 Statement of the Problem Establishing Internet Banking infrastructure has been a challenging task for the developing countries like Nepal. In the context of Nepal there are ample of problems in Internet Banking some of them are given below : Computer and Banking Literacy : In aggregate here is low level of IT literacy. Very few people are computer literate in Nepal and very few people understand banking system or banking process even educated people also there. Infrastructure Development : Though banks reach with their services in rural area ISP or NTC services is not available there for internet services and vice versa. Risk Management : In Nepal, Internet Banking is at its infancy right now. However, no Internet Banking frauds have been found yet. Lack of understanding of internet technology may be the reason. But precaution must be taken. In order to mitigate the risks associated with all e-banking businesses, banks should have in place a comprehensive risk management process that assesses risks, control risk exposure and monitors risks. Security : Security of a transaction, authenticity of a deal, identification of a customer etc are important technological and systems issues, which are major sources of concern to e-banking. Customers are afraid from online attack. Various online attacks are also available. 1.6 Objectives of the Study The main objectives of proposed research are to study, analyze and understand the Internet Banking of Nepal Bank Limited. Some of the other objectives are as follows : To identify the problems in existing Internet Banking services of Nepal Are public satisfy or not from Internet banking Services ? If not what will be the effective service delivery mechanism. To identify the prerequisites to get the Internet Banking services The research tell prerequisites to get Internet Banking services (for e.g. Computers, telephones, internet, customer should be account holder of bank) To examine the service delivery of different banks of Nepal The research includes various types of Internet Banking services provided by different banks to general public. 1.7 Scope of the Study The study will be mainly focused on three components of the study area : Social aspects : In social aspect the studied is focus on public participation according to their satisfaction, knowledge, beliefs, values etc. Technical aspects : This aspects is concerned with the technically how to develop system and technology used on projects. Economic aspects : In the economic analysis part, the study will focus on the possible areas of economic development by using this Internet Banking. 1.8 Limitation of the Study This research is the small effort for study and analyzing the Internet Banking services of Nepal which has limited time so it cannot focus on all areas and may not be able to explore many fields. This research work is done within limited time frame during the MBS dissertation. There are so many constraints while doing the work such as inadequate time, load shedding, and resources etc. To understand methodology of Internet Banking service is very difficult because banks only provide surface level of information because of their security concern. In spite of great effort, there are many limitations of this research work. The major limitations are as follows : In the field of E-banking, there are so many arenas like ATM, Tele Banking, Mobile Banking etc. but this research does not focus on all the e-banking services. Research works mainly focus on Internet Banking. Fund transfer is possible within the branch of bank. It means once cannot transfer amount from one bank to another bank. Banks have their own policy but there is no any standard policy for Internet Banking in Nepal. In the field of Internet Banking security is must but this research doe not cover all the aspects of security. General customers and corporate customers of Internet Banking system have same kinds of facilities. 1.9 Organization of the Study This study is organized and decorated in seven chapters. Each chapter and unit will be on a prescribed format of thesis writing to the partial fulfillment of MBS program. Each unit gives the clear picture or roadmap of the study. Chapter One This chapter deals with Introduction of The Study. In this chapter, separated unit for background, significances objective and limitation of the study has mentioned. Chapter Two This chapter focused Review of Literature. In this chapter, various relevant such as different books, journals, article and previous thesis mention has mentioned. Chapter Three Third chapter presented Research Methodology. In this chapter, research design, sources of the data, method of data collection and analysis has mentioned. Chapter Four This chapter deals with Analysis of Internet Banking. This chapter provides the different analysis like strength, weakness, opportunity, threat (SWOT) analysis and feasibility analysis of Internet banking. Chapter Five Fifth chapter deals with Internet Banking Security. Security in Internet Banking comprises both the computer and communication security. Therefore this chapter consist different security principles, cryptographic key management, RAID etc. Chapter Six This chapter focused on System Analysis and design to present the current Internet Banking system. This chapter provides requirement analysis, process modeling, data dictionary, hardware and software requirement to execute program. Chapter Seven Seventh chapter presented with Summary, Conclusions and Recommendation of the Study. 1.10 Research Design There are two types of research approaches qualitative and quantitative. In the quantitative approach results are based on numbers and statistics that are presented in figures, whereas in the qualitative approach where focus lies on describing an event with the use of words. This study is the result of qualitative research using comparative and analytical methods. The comparative research was conducted in two ways : Firstly, the comparison is carried out by investigating the availability of basic services of Internet Banking in different banks of Nepal. Secondly, the comparison is also carried out by investigating the different features offered by banking institutions in Nepal. For that purpose, reviews of website from banks are conducted. Thus to gain practical knowledge of Internet Banking in the Nepali context, this research is conducted as a qualitative study to explore the perception of Internet Banking among Nepali Banks. Hence, the aim is not to make any simplification but instead establish a closer contact with the objectives of prior research which intend to provide us a deeper understanding of the participants attitudes and perceptions. Finally my intention with this research is to understand Internet Banking first describe and explore, find and analysis detailed information about Internet banking services provided by different banks of Nepal so qualitative approach is the most suitable method for my research. 1.11 Source of Data Both primary as well as secondary data have been collected in order to achieve the real and factual result out of this research. All possible and useful data available have been collected. The major sources of data are as follows : a. Primary Source The primary data are collected from primary sources. The primary sources of data are the opinion survey through questionnaire, field visit and information received from the respondents. Some of the information was also collected from interview with the respondents. b. Secondary Data The secondary data are collected from secondary sources. The secondary sources of data are the information received from books, journals and article concerned with the study for example website of the Nepal Bank Limited, thesis and dissertation submitted at Shanker Dev Campus, Central Library T.U.

Analysis Of Amy Lowells Poem A Decade :: essays research papers fc

Analysis of Amy Lowell’s Poem “A Decade';   Ã‚  Ã‚  Ã‚  Ã‚  In “A Decade,'; a poem by Amy Lowell, the reader is shown how a lover’s attitude can go from infatuation at first to just predictability and love. In this poem Lowell uses imagery and similes to elaborate on the feelings of the speaker towards his/her lover. In the beginning of the relationship the speaker is infatuated with the lover, and Lowell expresses this infatuation through the use of a simile in line one when comparing the lover to “red wine and honey';. As the relationship goes on deeper into the decade a comparison between the lover and “morning bread'; is made in line three, showing the reader that instead of being like “red wine and honey'; in the beginning, which burnt the speaker’s mouth with sweetness, now the lover is perceived as being “smooth and pleasant';.   Ã‚  Ã‚  Ã‚  Ã‚  The speaker of the poem could either be male or female, who is in love with someone and has been with that person for a decade. The speaker is telling the one that he/she loves how the feelings have gone from just being infatuated with them to being “nourished'; by them. The tone of the poem is hard to describe; it is actually the “lovey dovey'; feeling that should come to the reader while reading this poem. The poem has no set rhyme scheme, and is six lines long in one stanza.   Ã‚  Ã‚  Ã‚  Ã‚  Following, is my paraphrase of the poem. When we first met you were sharp and sweet And when we kissed it burnt my mouth because I wanted you so. Now that it has been a few years you are still pleasant and smooth. I really don’t pay attention to how you taste, now I know you too well. You complete me. Thorne 3   Ã‚  Ã‚  Ã‚  Ã‚  In the poem “A Decade'; by Amy Lowell, she tells the reader how feelings go from being wild and crazy to being second nature to the speaker.

Free Essays: Candides Metamorphosis :: Candide essays

Candide's Metamorphosis In Voltaire's novella, we view the main character, Candide, as being sophomoric and rather naïve. Yet, Candide eventually frees himself from the shackles that burden his beloved philosopher Pangloss and other characters befriended along the way. Candide's journey back to Cunegonde become a means for him to emerge from his "self-imposed immaturity." The word "candide," which Cassell's French Dictionary defines as "ingenuous", would greatly summarize who the main character is to be perceived as. He will shape his own opinions throughout the story to parallel anybody else's that would seem to please him. His faith is put in a number of people who he meets along his travels, as he tries to find his way back to Cunegonde. He sees things as others would instruct him to see them. And though it can be contested that he is still the same at the end of the book, I will argue that he becomes the most emancipated from his own chains of "self-imposed immaturity" than any of his friends and comrades. The book first starts off with Candide hanging on to every idea put before him by Pangloss. He is held captive by some of the most bizarre forms of reasoning composed by Professor Pangloss. In Chapter 1, Pangloss professes that "our noses were made to carry spectacles, so we have spectacles," and that "since pigs were made to be eaten, we eat pork all the year round." This rationalization is totally bizarre and could not be applied to any reasonable mode of thought (especially the latter, which would be quickly dismissed by Vegans, Vegetarians, Muslims, and Jews!). After Candide is eventually banished from the house of Baron Thunder-ten-tronckh, he is taken in by James (the Anabaptist). After discovering Pangloss in a wretched state, eventually Candide, James, and Pangloss set off to Lisbon. As James drowns, Pangloss stops Candide from saving the Anabaptist by saying that the "Lisbon harbour was made on purpose for this Anabaptist to drown here." These quotes symbolize th e type of thinking found in Voltaire's day. This was the type of thinking that the Enlightenment school of thought was trying to get away from, and the type of nonsense Candide will challenge to some extent at the end and soon break away from.

Parent always knew best for their children? Essay

Parents always know what is best for their children. To show this, they get overly protective to their children and ask their children to obey their rules. Of course, this is definitely not good for the children sometimes because it seems like parents do not give freedoms to their children to do anything they want to. However, it is parents’ responsibility to look after their children well for they are the ones who know what is good and bad for their children. Parents always give advices which sometimes annoy their children, but actually it is one of the depiction that they want all the best for their children. They give and do anything for their children’s happiness and success. They work hard to get much money for full-filling their children’s needs, especially for their school. They want their children to be successful people and have better jobs or higher degrees than what they have one day. Parents not only work hard, but also always pray for their children’s goodness. Parents are the vital eyes and ears that figure out what their children need and what services and facilities are available; they are the vital decision makers that shape their children’s experiences as they grow. Parents do good things in order their children can imitate it. For instance when parents teach their children how to respect other people so that the children know how to respect people around them. What parents do is for their children’s goodness. They want their children to be the best. Parents want what is best for their children. Furthermore, we know that parents matter more than anything else when we consider what contributes to the welfare of children. As the children, they should accept and listen what their parents want and say because no matter what happen parents do not want their children get failures for they know what is best for them.