Contract Essay Example | Topics and Well Written Essays - 2000 words

Contract - Essay Example For example, in the case of Gibson v Manchester City Council7, the words â€Å"may be prepared to sell† constituted an invitation to treat and not a distinct offer. Indeed, the Gibson decision challenged the traditional view for formation of contractual agreement. In this case, Lord Denning asserted that when considering whether there is a binding contractual agreement, it could be argued that â€Å"there is no need to look for strict offer and acceptance. You should look at the correspondence as a whole and at the conduct of the parties and see therefore whether the parties have come to an agreement on everything that was material8†. However, there has been some uncertainty in this area of law as evidenced by the case of Carlil v Carbolic Smoke Ball Limited9. In this case, the defendant was the proprietor of a medical substance and placed and advert in the Pall Mall Gazette promising to pay $100 to anyone who used the carbolic smoke ball for two weeks and who for a limited time after contracted the flu virus. Carbolic Smoke Ball Limited argued that the advert did not constitute an offer but was rather an invitation to treat. The Court of Appeal rejected this argument and held that there was a legally enforceable contract. The advertisement constituted an offer to the whole world and was capable of amounting to an offer of a unilateral contract without the requirement for acceptance. The Carlil decision had far reaching implications for contract law, with some commentators arguing that there is no difference between an â€Å"invitation to treat† and a contractual â€Å"offer†10. However the facts of the current scenario indicate that Owen’s letter was a distinct offer to sell the car to Andrew for  £30,000 and the central issue in contention is whether Andrew accepted Owen’s offer to create a binding contract. Valid acceptance in law follows a

Square Essay Example | Topics and Well Written Essays - 1000 words

Square - Essay Example When Apple becomes the first to adopt this platform, it means Square will lose a lot of clients most so the technology oriented who are the majority in the current market place where convenience is the key determinant (Glover, Stephen and Douglas). The second need for Square Inc to adopt an e business platform is to enable it to extend into the non-US markets and this has to happen at the fastest rates. If this does not happen then the competitors like pay pal would snap the idea and use it to the disadvantage of Square. Square has therefore to be able to adopt the e business platform to catch up with the competition by being able to provide its customers with a variety of products, at affordable costs and with the convenience desired by most of the firms (Glover, Stephen and Douglas). Square will be able to integrate such operations through EMV in some countries and NFC in other countries. This would ensure that their operations are widened for diverse solutions in the vast financia l markets. Businesses face a lot of problems most so those that are involved on the online payment systems such problems range from the problems of uncertainty, the ever expanding global market, and the need for innovation. The largest problem is that which emanates from regulatory requirements. Uncertainty affects many business managers in the manner in which it would affects the operations of such businesses in the credit markets, global economy and how regulations would affect the operations of such businesses. Globalization affects the operations of Square due to the unpredictability of how different cultures would perceive their new products hence their penetration of the new markets (Glover, Stephen and Douglas). Before designing new products on the e business platform, such considerations costs the companies a lot of time in the manner they would conduct the same to get more customers while maintaining the ones they already have. This is because innovation and inventions are paramount most so in the volatile technology market. Square Inc faces a turbulent environment due to the existence of the competitors; this does not make the product design environment sleep because this would cost them from their competitors (Laudon, Kenneth and Carol). The business therefore tries to get the problem of innovation solved while still ensuring the control of the organization is in place. Without ensured control the hands of the law through enacted stiff regulations may also impact on the organization negatively. Regulations on energy, environment and financial policies are the most sensitive and require careful handling. As Square designs their new e business products they must ensure they operate under the regulations to avoid charges which are costly to businesses (Laudon, Kenneth and Carol). According to Harvard business review on business and the environment, the idea of business through the internet has changed how the customers interact with their providers and this has lead to the growth of e business. For companies like Square, e business is important because of several reasons. One is that e business leads to increase in the speed over which transactions are done. For example the time over which clients would do ordering is reduced since it can be done much quickly over such platforms since the internet covers a wide area network. For Square inc, e business would therefore mean better procurement and the

Payment Systems For E Commerce

Payment Systems For E Commerce The emergence of e-commerce has effectively created many new financial needs which in many cases cannot be fulfilled by traditional payment systems. By considering all of these aspects many organizations are exploring various types of electronic payment systems and digital currency and also various issues regarding these payment systems. Broadly electronic payment system is classified in to mainly into four categories: Online Credit card Payment system, Online Electronic Cash system, Electronic Cheque System and Smart Cards based Electronic payment system. Every system has its advantages and disadvantages for the customers and merchants. These systems have number of requirements: e.g. acceptability, convenience, security, cost, anonymity, control, and traceability. Hence, instead of focusing on the technological specifications of various e payment systems, the researchers have distinguished e payment system based on what is transmitting over the network; analyze the difference of eac h electronic payment systems based on their requirements, characteristics and assess the applicability of every system. I. INTRODUCTION Payment is the integral process in the mercantile process, electronic payment system is the integral part of the electronic commerce. Due to the emergence of electronic commerce has created new financial needs through which need for new payment systems has created while traditional payment system cannot be able to fulfill its needs. For example new payment systems are of the forms such as auctions between individual ¿Ã‚ ½s online results in searching for new payment systems that means peer to peer payment methods that allows individuals to make payments through their e-mails. By recognizing these needs all interested parties (i.e: government, business communities and financial service providers) are invading various types of electronic payment systems and issues regarding those payment systems and electronic currency. Some of the proposed systems are electronic type of the traditional payment system such as credit cards, cheques, while, others are based on the digital currency tech nology and have the potential for definitive impact on today ¿Ã‚ ½s financial and monetary system. While popular developers of electronic payment system predict fundamental changes in the financial sector because of the innovations in electronic payment system (Kalakota Ravi, 1996). Therefore in particular electronic commerce have many methods of payment systems, these methods of payment systems are developed to support the electronic commerce. A failure to take place these developments into the proper context is likely to result in undue focus on the various experimental initiatives to develop electronic forms of payment without a proper reflection on the broader implications for the existing payment system. The table below shows a steady increase in the annual growth of total U.S. e-commerce sales for the 2000-2009 periods. A. CONCEPT AND SIZE OF ELECTRONIC PAYMENT The payment systems that uses electronic distribution networks constitute a frequent system in the banking and business sector since 1960 ¿Ã‚ ½s, especially for the transfer of large amounts of money. In the four decades that have passed since their appearance, necessary technological developments have taken place, which on the one hand have expanded the possible technologies of electronic payment systems besides they have also created new social and business practice, which make the use of these systems necessary. These changes, naturally, have affected the definition of electronic payments, which is emerging depending on the needs of each period. In most general form, the word electronic payment comprised of any payment (transactions) to businesses, bank or public services from citizens or businesses, which are made through a telecommunications or electronic networks by using modern technology. It is obvious that based on this definition, the electronic payments that will be the objects of present result, is the payment that is executed by the payer by himself, whether the latter is a consumer or a business, without the intervention of the another natural person. Furthermore, these payments are made from distance, without the presence of the payer physically and naturally it does not include cash. By providing such definition for the electronic payment system, this make researches to include the information concerning the accounts of the parties involved in the transaction, and also technological means of transaction execution such as distribution channel etc. Size of Electronic Payments: Electronic payments can be made in different forms, based on these forms electronic commerce payments systems are categorized as Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Business (C2B) and Consumer-to-Consumer (C2C). Each of which has special characteristics that depend on the value of order. Danial, (2002) classified electronic payment systems as follows:  ¿Ã‚ ½ Micro Payment (less than $ 10) that is mainly conducted in C2C and B2C e-commerce.  ¿Ã‚ ½ Consumer Payment that has a value between $ 10 and $ 500. It is conducted mainly in B2C transactions.  ¿Ã‚ ½ Business Payment that has the value more than $ 500. It is conducted mainly in B2B e-commerce. B. CONVENTIONAL VS. ELECTRONIC PAYMENT SYSTEM To dig the depth of the electronic payment process, it is better to first understand the processing of traditional payment system. A traditional process of payment and settlement involves a buyer-to-seller transfer of cash or payment information (i.e., cheque and credit cards). The general settlement of payment process takes place in the financial processing network. A cash payment requires a buyer ¿Ã‚ ½s withdrawals form his/her bank account, a transfer of cash to the seller, and the seller ¿Ã‚ ½s deposit of payment to his/her account. Non-cash payment systems are settled by adjusting i.e. crediting and debiting the appropriate accounts between banks based on payment information conveyed via cheque or credit cards. Figure 1: Conventional/Traditional Payment System Figure is simplified diagram for both cash and non-cash transactions. As cash Transferred from the buyer ¿Ã‚ ½s bank to seller ¿Ã‚ ½s bank through face-to-face exchange in the market. If a buyer uses a non-cash form of payment, payment information instead of cash flows from the buyer to the seller, and payments are settled between affected banks, who notationally adjust accounts based on payment information. C. PROCESS OF ELECTRONIC PAYMENT SYSTEM Electronic payment system have been operating since 1960s and also expanding very rapidly as well as growth and complexity. After the development of traditional payment system new features such as Electronic Funds Transfer based payments methods came in to existence. It was the first electronic based payment system, which does not depend on intermediary of central processing. An electronic fund transfer is a financial application of EDI (Electronic Data Interchange), which transfers credit card numbers or electronic cheques via secured private transfer lines between banks and major corporations. To use EFT to clear payments and settle accounts, online payment services needs all the capabilities to process the order, accounts and receipts. But a landmark came in to direction with the development of digital currency. Use of electronic money and digital currency looks alike the paper money as a means of payment. Digital based currency system is having same advantages as of paper based c urrency system those are namely anonymity and convenience. As in other electronic payments systems (i.e. EFT based and intermediary based) here is also concern about the security in the electronic payment systems during the transactions and storage is also a main concern, although from the different perspective, for digital currency systems double spending, counterfeiting, and storage become critical issues whereas eavesdropping and the issue of liability (when charges are made without authorizations) is important for the notational funds transfer. Figure 2 shows digital currency based payment system. In this figure, it is shown that intermediary acts as an electronic bank, which converts outside money (e.g. Rupees or US $), into inside money (e.g. tokens or e-cash), which is circulated within online markets. However, as a private monetary system, digital currency has wide ranging impact on money and monetary system with implications extending far beyond more transactional efficiency. II. TYPES OF ELECTRONIC PAYMENT SYSTEMS With the rapid growth in the electronic commerce need for the payment systems are increased as that of e commerce by which dozens of payments systems are came in to existence and also they are already in practice. Grouping of these payments systems are made based upon the information being transferred online. Murthy (2002) explained six types of electronic payment systems: (1) PC-Banking (2) Credit Cards (3) Electronic Cheques (i-cheques) (4) Micro payment (5) Smart Cards and (6) E-Cash. Kalakota and Whinston (1996) identified three types of electronic payment systems: (1) Digital Token based electronic payment systems, (2) Smart Card based electronic payment system and (3) Credit based electronic payment systems. Dennis (2001) classified electronic payment system into two categories: (1) Electronic Cash and (2) Electronic Debit-Credit Card Systems. Thus, electronic payment system can be broadly divided into four general types (Anderson, 1998):  ¿Ã‚ ½ Online Credit Card Payment System  ¿Ã‚ ½ Electronic Cheque System  ¿Ã‚ ½ Electronic Cash System and  ¿Ã‚ ½ Smart Card based Electronic Payment System Online Credit Card Payment System: It seeks to extend the functionality of existing credit cards for use as online shopping payment tools. This payment system has been widely accepted by consumers and merchants throughout the world, and by far the most popular methods of payments especially in the retail markets (Laudon and Traver, 2002). These forms of payment systems are having many advantages, which were never available through the traditional payments methods. Some of the advantages of the online credit card payment systems are: privacy, integrity, compatibility, good transaction efficiency, acceptability, convenience, mobility, low financial risk and anonymity. Added to all these, to avoid the complexity associated with the digital cash or electronic-cheques, consumers and vendors are also looking at credit card payments on the internet as one of possible time-tested alternative. But, this payment system has raised several problems before the consumers and merchants. Online cred it card payment systems are also having many disadvantages lack of authentication, repudiation of charges and credit card frauds. It also seeks to address consumer fears about using credit card such as having to reveal credit information at multiple sites and repeatedly having to communicate sensitive information over the Internet. Basic process of Online credit card payment system is very simple as that of traditional payment systems. If consumers want to purchase a product or service, they simply send their credit card details to the service provider involved and the credit card organization will handle this payment like any other. This can be understood very easily with the format (Figure 3) of Credit Card Payment Form. Electronic Cheque Payment System: Electronic cheque fulfills the needs of many business organizations, which are previously exchanging paper based cheque based on the vendors, consumers and government. Working process of e-cheque is as same as that of the traditional cheque payment system. An account holder will issue the electronic cheque document which contains the information such as name of the account holder payee name, name of the financial institution, payer ¿Ã‚ ½s account number and the amount of payment on the cheque. Most of the information is in un coded form. Like a paper cheques e-cheques also bear the digital equivalent of signature: a computed number that authenticates the cheque from the owner of the account. Digital checking payment system seeks to extend the functionality of existing checking accounts for use as online shopping payment tools. Electronic cheque system has many advantages: (1) they do not require consumers to reveal account information to other indi viduals when setting an auction (2) they do not require consumers to continually send sensitive financial information over the web (3) they are less expensive than credit cards and (4) they are much faster than paper based traditional cheque. But, this system of payment also has several disadvantages. The disadvantage of electronic cheque system includes their relatively high fixed costs, their limited use only in virtual world and the fact that they can protect the users? anonymity. Therefore, it is not very suitable for the retail transactions by consumers, although useful for the government and B2B operations because the latter transactions do not require anonymity, and the amount of transactions is generally large enough to cover fixed processing cost. The process of electronic checking system can be described using (figure 4) the following steps. Step 1: a purchaser fills a purchase order form, attaches a payment advice (electronic cheque), signs it with his private key (using his signature hardware), attaches his public key certificate, encrypts it using his private key and sends it to the vendor. Step 2: the vendor decrypts the information using his private key, checks the purchaser ¿Ã‚ ½s certificates, signature and cheque, attaches his deposit slip, and endorses the deposit attaching his public key certificates. This is encrypted and sent to his bank. Step 3: the vendor ¿Ã‚ ½s bank checks the signatures and certificates and sends the cheque for clearance. The banks and clearing houses normally have a private secure data network. Step 4: when the cheque is cleared, the amount is credited to the vendor ¿Ã‚ ½s account and a credit advice is sent to him. Step 5: the purchaser gets a consolidated debit advice periodically. E-cheque provide a security rich Internet payment option for businesses and offer an easy entry into electronic commerce without a significant investment in new technologies or legal systems. Electronic Cash Payment System: Electronic payment system is new technology in the online payment systems which improve the features such as security and privacy because it combines computerized convenience. Its versatility opens up a host of new markets and applications. E-cash is an electronic or digital form of value storage and value exchange that have limited convertibility into other forms of value and require intermediaries to convert. E-cash presents some characteristics like storability, monetary value, interoperability, irretrievability, and security. // By using all these characteristics it makes electronic cash more attractive payment system on the internet (Online). Added to these, this payment system offers numerous advantages like privacy, good acceptability, authority, convenience, low transactions cost and good anonymity. But, this system of payment also has many disadvantages such as poor transaction efficiency, poor mobility, and high financial risk, as people are solely responsible for the lost or stolen. Gary and Perry (2002), just like real world currency counterpart, electronic cash is susceptible to forgery. It is possible, though increasingly difficult, to create and spend forged e-cash. E-Cash Structure: e-cash structure could be identified as a string of bits that represents certain values such as reference number and digital signature, which could be used for the security purpose to prevent forgery and criminal use (Wright, 2002). But, the structure proposed by Wright (2002) needs some extension to make e-cash more secure. Therefore, the present model (Figure 3.5) adds a digital watermark to e-cash structure to protect it from the illegal copy and forgery activities further, the model modified the structure of the reference number to support tractability as shown in the figure 5. The proposed e-cash structure is comparatively better than suggested by Wright (2002), because security issue is given importance of top most priority in the present model. But, still there are certain concerns to be addressed for an electronic cash system. For example, who has the right to issue electronic cash? Can every bank issue its own money? If so how do you prevent fraud? And who will monitor the banking operations to protect consumers? Many of these concepts relate to the legal and banking regulatory aspects. However all these issues are beyond the scope of the study and therefore, cannot be included here. But, these issues must be addressed before establishing a complete e-cash based payment system. Smart Cards based Electronic Payment System: Smart cards are receiving renewed attention as a mode of online payment. They are essentially credit card sized plastic cards with the memory chips and in some cases, with microprocessors embedded in them so as to serve as storage devices for much greater information than credit cards with inbuilt transaction processing capability. This card also contains some kinds of an encrypted key that is compared to a secret key contained on the user ¿Ã‚ ½s processor. Some smart cards have provision to allow users to enter a personal identification number (PIN) code. Smart cards have been in use for well over the two decades now and have been widespread mostly in Europe and Asian Countries. Owing to their considerable flexibility, they have been used for a wide range of functions like highway toll payment, as prepaid telephone cards and as stored value debit cards. However, with the recent emergence of e-commerce, these devices are increasingly being viewed as a particularly appropriate method to execute online payment system with considerably greater level of security than credit cards. Compared with traditional electronic cash system, smart cards based electronic payment systems do not need to maintain a large real time database. They also have advantages, such as anonymity, transfer payment between individual parties , and low transactional handling cost of files. Smart cards are also better protected from misuse than, say conventional credit cards, because the smart card information is encrypted. Currently, the two smart cards based electronic payment system- Mondex and Visa Cash are incompatible in the smart cards and card reader specification. Not knowing which smart card system will become market leader; banks around the world are unwilling to adopt either system, let alone other smart card system. Therefore, establishing a standard smart card system, or making different system interoperable with one another is critical success factors for smart card based payment system. Kalakota and Whinston (1996), classified smart cards based electronic payment system as (1) relationship based smart cards and electronic purses. Electronic purses, which may replace money, are also known as debit card. Further Diwan and Singh (2000) and Sharma and Diwan (2000), classified smart cards into four categories. These are: (1) memory cards: this card can be used to store password or pin number. Many telephone cards use these memory cards (2) shared key cards: it can store a private key such as those used in the public key cryptosystems. In this way, the user can plug in the card to a workstation and workstation can read the private key for encryption or decryption (3) signature carrying card: this card contains a set of pre generated random numbers. These numbers can be used to generate electronic cash (4) signature carrying cards: these cards carry a co-processor that can be used to generate large random numbers. These random numbers can then be used for the assignment as serial numbers for the electronic cash. III. CONCLUSION Technology created lives easier for human beings. It has decreases the work up to many extends such as distance space and even time. One of the technological innovation in the banking and financial sectors is the electronic payments. // By using electronic payments we can perform financial operations electronically, thus avoiding long lines and other hassles. Electronic Payments provides greater freedom to individuals in paying their licenses, taxes, fees, fines and purchases at unconventional locations and at whichever time of the day, 365 days of the year. On the basis of present study, first remark is that despite the existence of variety of e-commerce payment systems, credit cards are the most dominant payment system. This is consequences of advantageous characteristics, most importantly the long established networks and very wide user ¿Ã‚ ½s base. Second, alternative e-commerce payment systems are some countries are debit cards. In fact, like many other studies, present study also reveals that the smart card based e-commerce payment system is best and it is expected that in the future smart cards will eventually replace the other electronic payment systems. Third, given the limited users bases, e-cash is not a feasible payment option. Thus, there are number of factors which affect the usage of e-commerce payment systems. Among all these user base is most important. Added to this, success of e-commerce payment systems also depends on consumer preferences, ease of use, cost, industry agreement, authorization, security, authentication, non-refutability, accessibility and reliability and anonymity and public policy. IV. REFERENCES 1. Abrazhevich, D. (2002) ,Diary on Internet Payment Systems ¿Ã‚ ½, Proceedings of the British Conference on Human Computer Interaction, London, England. 2. Anderson, M.M. (1998),  ¿Ã‚ ½Electronic Cheque Architecture, Version 1.0.2 ¿Ã‚ ½, Financial Services Technology Consortium, September 3. Baddeley, M. (2004)  ¿Ã‚ ½Using E-Cash in the New Economy: An Electronic Analysis of Micropayment Systems ¿Ã‚ ½, Journal of Electronic Commerce Research, Vol. 5, No. 4, pp 239-253. 4. Bhatia, Varinder (2000), E-Commerce (Includes E-Business), New Delhi: Khanna Book Publishing Co. 5. Boly, J. P. et al., (1994),  ¿Ã‚ ½ The ESPRIT Project CAF ¿Ã‚ ½-High Security Digital Payment System ¿Ã‚ ½, ESORICS 94, Third European Symposium on Research in Computer Security, Brighton, LNCS 875, Spring- Verlage, Berlin, pp 217-230. accessed on http://www.zurich.ibm.ch/technology/Security/Sirene/Publ/ BBCM1_94cafeEsorics.ps.gz. 6. Cavarretta, F. and de Silva, J. (1995),  ¿Ã‚ ½Market Overview of the Payments Mechanisms for the Internet Commerce ¿Ã‚ ½, accessed on http://www.mba96.hbs.edu/fcavarretta/money.html. 7. Chakrabarti, Rajesh and Kardile, Vikas (2002), E-Commerce: The Asian Manager ¿Ã‚ ½s Handbook, New Delhi: Tata McGraw Hill. 8. Charkrabarthi, Rajesh et al (2002), The Asian Manager ¿Ã‚ ½s Handbook of E-Commerce, New Delhi: Tata McGraw Hill.) 9. Chaum, D. (1992),  ¿Ã‚ ½Achieving Electronic Privacy ¿Ã‚ ½, Scientific American, August,pp 96-101 accessed on http://www.digicash.support.nl/publish/sciam.html. 10. Danial, Amor (2002), E-Business (R) evolution, New York: Prentice Hall. 11. Dennis, Abrazhevich (2001),  ¿Ã‚ ½Classifications and Characteristics of Electronic Payment Systems ¿Ã‚ ½, Lecture Notes in Computer Science, Vol. 21, No. 5, pp. 81-90.

Lytton Strachey’s excerpt on Florence Nightingale Essay

Lytton Strachey’s excerpt depicts the popular misconceptions and the actual reality of who Florence Nightingale was. Strachey’s euphemism of calling Nightingale â€Å"the Lady with the Lamp† as opposed to the â€Å"agitations of her soul† portrays the idea that her reality was much more different than her false perceptions. Though he admires Nightingale with awe, he conveys his opinion by using dark and tainted diction – â€Å"morbid†, â€Å"Demon possessed her†. Though this might suggest into the thinking that Nightingale was evil and beyond human capabilities, it manifests that she was an extraordinary human with suffrages that make her a stronger individual. Strachey’s syntactical style enables the reader to dilute a clear view of Nightingale’s life. His creative tone in using rhetorical questions eradicates Nightingale’s courageous endeavor and capabilities. From lines 20 to 22, Strachey exhibits the truth that even when her sister had shown a â€Å"healthy pleasure† in tearing up her dolls, she should a â€Å"morbid one† sewing them back up. This idea seems particularly demonic and malevolent (the feeling she expresses while sewing her dolls) because she feels a sense of guilty enjoyment in fixing something that is not perfect. Her gratification is that of healing and â€Å"herself as matron moving about among the beds†. Continuously, these rhetorical questions delineate a fact and expound it further enhancing the reader to fully understand the structure of Nightingale’s motivations and drive. Another strategy that Strachey uses is the use of long and ornate sentences that are broken off by telegraphic ones. This technique enables the audience to feel an utmost sincere admiration for Nightingale (line 2 through 12). With the reader’s emotions at a peak, Strachey quickly halts your train of thought and hits you with a complete opposite idea. This makes the reader more vulnerable to what the author has to say because it catches them at their weakest moment (overflowing with sentiment). Strachey further commends in making Nightingale look like a legendary women who has undergone apotheosis causing the story to become an epic one. By living in the era of the Victorian age, Florence Nightingale’s story is an even more honorable one. This period came with the discrimination of women and their societal roles which intervened with Nightingale’s bourgeoisie  life. Opposing all the luxuries and dealing with the struggle pushed upon her makes her an immense figure in time. She fought for what she wanted: she opposed her family, the elite society, and the status quo that women didn’t work. With this, she possessed the energy to collect knowledge and achieve what she had â€Å"determined she would do in the end†: – gain her independence. Unlike the myths that casted Nightingale to a simple life, she â€Å"was not as facile fancy painted her†. She was a courageous woman who fought for what she believed in, even if it was morbid. In the last paragraph, Strachey defies a quote that her mother gives about Miss Nightingale. In this, she mockingly states that â€Å"We are ducks†¦ who have hatched a wild swan†. This quote, though given by Mrs. Nightingale, represents Florence Nightingale’s perception of her family (taken from the mother viewpoint). In reality she is blind that the idea that Florence has a different path to follow which involves helping the ill-fated humans. It is as if Mrs. Nightingale is embarrassed that she has done something with her life. In reality, Miss Nightingale is â€Å"an eagle†. She casts a brave, bold and independent shadow that wants to soar above the limitations of her family and social class. Florence Nightingale’s strive is marked with accomplishments and greatness because she surpassed all her obstacles, â€Å"held firm, and fought her way to victory†. This suffrage has made her stronger which is one of the reasons Strachey admires her. She did not get her life job on a silver platter; she worked for it, and passed through much hardship, making the prize the more rewarding. His via from the popular perceptions to reality permits the reader to comprehend the illusion and see that the reality was even superior and audacious; â€Å"in the real Miss Nightingale there was more than was interesting than in the legendary one†. Even his melancholic tone and diction towards Nightingale renders the stance that she was an amazing woman and worked her way out of the â€Å"tortures of regret and remorse† that were compelled deep inside her mind.

William Shakespeare s A Midsummer Night s Dream - 990 Words

The Importance and Different Symbols in William Shakespeare’s A Midsummer Night’s Dream Symbols help to play an important part in giving a deeper meaning to a story. William Shakespeare uses a variety of symbols in his play A Midsummer Night’s Dream and by using these symbols he offers some insight onto why certain events take place in the play. Symbols are sometimes hard to decipher but as the reader continues to read the symbol’s meaning might become more clear. Shakespeare uses a variety of symbols in A Midsummer Night’s Dream, but this paper will only discuss four of the major symbols. The moon is mentioned several times, which makes a major symbol in this play. It can represent madness or lunacy but it can also represent magic and enchantment. Hermia’s father Egeus says that â€Å"Thou hast by moonlight at her window sun with feigning voice verses of feigning love and stol’n the impression of her fantasy† (Ant. 1.1.31-33), Egeus speaking about Lysander saying that he has â€Å"bewitched† Hermia into loving him. This is the moon representing enchantment, Lysander sings his songs about love to Hermia at night, when the moon is out, and Egeus thinks that this is how Lysander has gotten Hermia to love him and not Demetrius whom her father wants her to marry. The moon is mentioned again when we learn about Oberon and Titania’s argument over the Indian boy, their argument has caused the moon to be pale with anger which cause things like flood, rains, and unexplained illnesses. ThisShow MoreRelatedWilliam Shakespeare s A Midsummer Night s Dream1339 Words   |  6 PagesHonors For A Midsummer Night s Dream By William Shakespeare 1. Title of the book - The title of the book is called A Midsummer Night s Dream by William Shakespeare. 2. Author s name - The author of the book A Midsummer Night s Dream is William Shakespeare. 3. The year the piece was written - A Midsummer Night s Dream by William Shakespeare was believed to have been written between 1590-1596. 4. Major Characters - There are three major characters in the book A Midsummer Night s Dream by WilliamRead MoreWilliam Shakespeare s A Midsummer Night s Dream1474 Words   |  6 Pagesinstance, one could look at the movies A Midsummer Night’s Dream and Shakespeare in Love. The latter follows the life of William Shakespeare himself, everything from his love affair with Viola de Lesseps to his creation of Romeo and Juliet. A Midsummer Night’s Dream, is one of the most famous plays of Shakespeare’s, revolving around the tumultuous relationships of four lovers, aided, and sometimes thwarted by the mischief of fairies. Although Shakespeare in Love outlines a few of the characteristicsRead MoreWilliam Shakespeare s A Midsummer Night s Dream1548 Words   |  7 Pagesspoken by Helena in Act 1 Scene 1 line 234, explains that it matters not what the eyes see but what the mind thinks it sees. In the play, A Midsummer Night s Dream, written by William Shakespeare, there are several instances where the act of seeing is being portrayed. The definition of vision is the ability to see, something you imagine or something you dream. This proves that even though one has the ability to see; the mind tends to interfere and sometimes presents a different picture. VariousRead MoreWilliam Shakespeare s A Midsummer Night s Dream867 Words   |  4 Pagesspecifically how they will benefit that other person, you’re in love.† In A Midsummer Night s Dream, William Shakespeare intertwined each individual characters. Through the concept of true love and presented to the audiences a twisted yet romantic love story. The love stories of Renaissance are richly colorful, so Shakespeare used multiple literary techniques to present to the readers a vivid image of true love. Shakespeare applied metaphor in the lines of Lysander. In Act 1, scene 1, Lysander saysRead MoreWilliam Shakespeare s A Midsummer Night s Dream1397 Words   |  6 PagesShakespeare’s comedies, like those of most Renaissance playwrights, involve love and its obstacles. Much of the comedy in A Midsummer Night’s Dream derives from the attempt of Lysander and Hermia to remain together while overcoming the adult authority figure who attempts to hinder the love of a young couple. The overcoming of an obstacle functions as a common motif in Renaissance comedy. The audience must wonder, however, whether Lysander and Hermia, as well as Demetrius and Helena, actually loveRead MoreWilliam Shakespeare s A Midsummer Night s Dream1207 Words   |  5 PagesWilliam Shakespeare’s A Midsummer Night’s Dream has been categorized as a comedy play because of all the characters being passionately in love to the point of being foolish. It’s a play all about love, and the characters that are in love are only young adults, so they are still naive when it comes to love. Their naivety and foolishness regarding love is what allows them to be taken advantage of by mischievous fairies when they all run away into the woods. By critiquing the love affairs and numerousRead MoreA Midsummer Night s Dream By William Shakespeare1882 Words   |  8 PagesWritten during the Elizabethan era where gender roles played an important part in society and relationships, A Midsummer Night’s Dream by William Shakespeare portrays the interaction between both sexes, and the women’s response to the expectation of such norms. Although the characters: Hippolyta, Hermia, Helena, and Titania, are portrayed as objects (both sexual and material) contingent upon their male lovers, they are also given empowerment . During the Elizabethan Era, and present throughout MNDRead MoreWilliam Shakespeare s A Midsummer Night s Dream1277 Words   |  6 Pagestogether. Nor will love ever be a controllable compulsion. Maybe we are fools for going into the perilous, eccentric universe of love; yet what fun would life be without it? William Shakespeare s play A Midsummer Night s Dream investigates the unconventional, unreasonable and unpredictable nature of love during his time. Shakespeare conveys this through the main plot of the play, which is composed of the relationships between three couples. The three couples show examples of three different types ofRead MoreWilliam Shakespeare s A Midsummer Night s Dream1442 Words   |  6 Pages William Shakespeare is estimated to have lived from 1564 to about 1616. He is often recognized as great English poet, actor, and playwright, and paved the way for many on all of those categories. Over that span he wrote many pieces that are still relevant today such as Romeo and Juliet, Hamlet, and Macbeth. I would like to take a deeper look into one on his pieces â€Å"A Midsummers Night’s Dream.† This piece is estimated to have first been preformed in about 1595 and then later published in 1600. ManyRead MoreWilliam Shakespeare s A Midsummer Night s Dream1014 Words   |  5 Pagesplay is heavily influenced by other people. A Midsummer Night’s Dream, written by William Shakespeare, is a very unique comedy in which love has a different definition with everyone in the play. The play portrays the adventures of four young lovers and a group called the mechanicals along with their interactions with woodland fairies and a duke and a duchess. This work is widely per formed around the world, and it’s no wonder, it s about the world s most popular pastime, falling in love. But as

Love as a Major Muse Analyzing Frida Kahlos Relationship...

Frida Kahlo is quoted as saying, I suffered two grave accidents in my life. One in which a streetcar knocked me down. The other accident is Diego, (cited by Botis 1). The love relationship between Frida Kahlo and Diego Rivera is one of the most famous in modern art. Their relationship was tumultuous, which seemed to be a good recipe for creativity and artistic self-expression. It is a well-known fact that they had a passionate and stormy relationship, filled with great love and also betrayals, (Frida Kahlo and Diego Rivera 1). The relationship between Frida Kahlo and Diego Rivera shows that love, even when it is painful, can be a powerful muse. The term muse refers to any kind of creative inspiration. The ancient Greek muses were female beings who provided inspiration for scientists, poets, musicians, and comedians (Oxford English Dictionary). A muse can be anyone, but in legend a muse is often a woman, or a force personified as a woman, who is the source of inspiration for a creative artist, (Oxford English Dictionary). For Diego Rivera, then, Frida Kahlo was his muse. The reverse is also true, though. Diego Rivera was Frida Kahlos muse, as together they shared a powerful, intense romantic relationship. Although the relationship was stormy, or possibly for that very reason, Kahlo and Rivera created works of art that have left an indelible impression on human culture. The way their respective muses worked was different for Kahlo and Rivera. For Kahlo, she depicted

I will provide the details shortly Example

Essays on I will provide the details shortly Coursework Finance and Accounting work Question A) Individual hypothesis testing is the ability to test the given statistical hypothesis with the objective of accepting or rejecting a null hypothesis. On the other hand, joint hypothesis testing involves testing of the statistical method without giving a level of overall certainty of the fulfillment of the given objective. A given statistical phenomena can be fulfilled with respect to the method used. B) The F test is based on the ratio of variances and is used to make comparison of two means or treatments. Therefore, the F test is used for experiments involving more than two treatments. Therefore, it determines whether one can assume that two independent estimates of variance can be assumed to estimate the same variance. The ability of the treatments to differ implies that the variation in treatment means will be greater than variation arising from random differences among individuals. C) A single index model is a pricing model that measures that risk and the return on the stock of an organization with its common applications being in the financial industry. The multi-factor model also has its applications in the financial sector. However, the model involves utility of multiple factors in its computations that are used to explain the market phenomena such as equilibrium of prices. Its applications include explanation of individual or portfolio security. An example of a multifactor model is displayed below and is used to stock market factors. Ri = ai + ÃŽ ²i(m) Rm + ÃŽ ²i(1)F1 + ÃŽ ²i(2)F2 +†¦+ÃŽ ²i(N)FN + ei Where: Ri  represents the returns of security i Rm  represents the market return F(1,2,3†¦N) represents each of the factors used ÃŽ ²Ã‚  represents the beta with respect to each factor including the market (m) e  represents the error term a  represents the intercept Question 2 a) t-values ri = 0.080 + 0.801Si + 0.321MBi + 0.164PEi - 0.084BETAi (0.064) (0.147) (0.136) (0.420) (0.120) 1.25 5.45 2.36 0.390 -0.700 The t ratios are calculated by division of estimates by the standard error. Based on the provided estimates, and standard errors, the calculated t values are as indicated below each value in the above equation. The null hypothesis is rejected at the 5% level if the absolute value of the test statistic is greater than the critical value. The above values indicate that the absolute values are greater than the critical t values except for beta. This means that we reject the null hypothesis and confirm that the firm size and the market to book value have a significant impact in the returns of the stock of the firm. b) The initial regression carried out is the unrestricted regression while the second is the restricted one. The F test is used to test the hypothesis with the sample values being: F = [(RSSr – RSSu)/m]/(RSSu/(n-k) F = [(222.7 – 203.8)/2]/(203.8/216-3-1) = 9.83 This is followed by calculation of the critical value of F from the tables at 5% level. The outcome is 3.00. The absolute value of F is higher than the critical value, thereby implying that we reject the null hypothesis and accept the alternative hypothesis that ÃŽ ²2 and ÃŽ ²3 are not jointly equal to zero. In addition, HML and SMB have a significant impact on the excess return of the portfolio of the company. Question 3: The reported results indicate that there is evidence for the day-of-the-week effect. The outcome indicates that the day of the week effect has a positive impact on an individual due to the positive intercept. Similarly, Tuesday has a positive effect. However, the rest of the days of the week have a negative effect on an individual. Only the Monday dummy is significant at the 5% level of significance. This suggests that the Mondays returns are significantly smaller than Wednesdays returns on average (note that the coefficient is interpreted as the difference in average returns between Wednesday and Monday. Exercise 5A: Lab Questions 1) a). The intercept is negative indicating that autonomous returns of all share FTSE is negative. b). The slope coefficient beta is 1.408, which implies that the price of the stock is more volatile than the market. The stock price is 40.8% more volatile than the market. c). The coefficient of determination R is 0.4874. This implies that the changes in the market explain 48.74% of the changes in the price of the stock. d) In Q2, the p value is 0.0108. This means that there is relative evidence against the null hypothesis in favor of the alternative hypothesis. This is the reason for the rejection of the null hypothesis. e) beta values are significant to the study and indicate that the stock price is highly volatile than the market. f) the significance F is 1.3, which implies the variation among groups. This means that the null hypothesis is rejected. 5b Q1, Q2, Q3 Prices Log Returns Date PFT100 PBARC RFT100 RBARC Jan-2003 3567.4 240.63       Feb-2003 3655.6 260.69 0.02442 0.08007 Mar-2003 3613.3 259.27 -0.01164 -0.00546 Apr-2003 3926 307.04 0.08300 0.16911 May-2003 4048.1 305.44 0.03063 -0.00522 Jun-2003 4031.2 319.65 -0.00418 0.04547 Jul-2003 4157 332.61 0.03073 0.03974 Aug-2003 4161.1 331.51 0.00099 -0.00331 Sep-2003 4091.3 332.77 -0.01692 0.00379 Oct-2003 4287.6 358.17 0.04686 0.07356 Nov-2003 4342.6 369.34 0.01275 0.03071 Dec-2003 4476.9 359.07 0.03046 -0.02820 Jan-2004 4390.7 356.73 -0.01944 -0.00654 Feb-2004 4492.2 358.14 0.02285 0.00394 Mar-2004 4385.7 354.8 -0.02399 -0.00937 Apr-2004 4489.7 376.46 0.02344 0.05926 May-2004 4430.7 352.03 -0.01323 -0.06710 Jun-2004 4464.1 347.77 0.00751 -0.01218 Jul-2004 4413.1 340.55 -0.01149 -0.02098 Aug-2004 4459.3 386.99 0.01041 0.12784 Sep-2004 4570.8 398.65 0.02470 0.02968 Oct-2004 4624.2 400.16 0.01162 0.00378 Nov-2004 4703.2 406.17 0.01694 0.01491 Dec-2004 4814.3 440.77 0.02335 0.08175 Jan-2005 4852.3 437.77 0.00786 -0.00683 Feb-2005 4968.5 436.34 0.02367 -0.00327 Mar-2005 4894.4 417.8 -0.01503 -0.04342 Apr-2005 4801.7 414.71 -0.01912 -0.00742 May-2005 4964 402.74 0.03324 -0.02929 Jun-2005 5113.2 429 0.02961 0.06317 Jul-2005 5282.3 430.16 0.03254 0.00270 Aug-2005 5296.9 434.01 0.00276 0.00891 Sep-2005 5477.7 449.71 0.03356 0.03554 Oct-2005 5317.3 439.51 -0.02972 -0.02294 Nov-2005 5423.2 463.45 0.01972 0.05304 Dec-2005 5618.8 479.53 0.03543 0.03411 Jan-2006 5760.3 471.69 0.02487 -0.01648 Feb-2006 5791.5 524.66 0.00540 0.10643 Mar-2006 5964.6 542.71 0.02945 0.03382 Apr-2006 6023.1 551.98 0.00976 0.01694 May-2006 5723.8 497.99 -0.05097 -0.10293 Jun-2006 5833.4 495.17 0.01897 -0.00568 Jul-2006 5928.3 506.05 0.01614 0.02173 Aug-2006 5906.1 538.44 -0.00375 0.06204 Sep-2006 5960.8 551.95 0.00922 0.02478 Oct-2006 6129.2 579.38 0.02786 0.04850 Nov-2006 6048.8 557.27 -0.01320 -0.03891 Dec-2006 6220.8 597.81 0.02804 0.07022 Jan-2007 6203.1 606 -0.00285 0.01361 Feb-2007 6171.5 606 -0.00511 0.00000 Mar-2007 6308 607.49 0.02188 0.00246 Apr-2007 6449.2 612.96 0.02214 0.00896 May-2007 6621.4 608.33 0.02635 -0.00758 Jun-2007 6607.9 586.42 -0.00204 -0.03668 Jul-2007 6360.1 588.95 -0.03822 0.00431 Aug-2007 6303.3 526.42 -0.00897 -0.11224 Sep-2007 6466.8 510.97 0.02561 -0.02979 Oct-2007 6721.6 518.26 0.03864 0.01417 Nov-2007 6432.5 483.08 -0.04396 -0.07029 Dec-2007 6456.9 432.46 0.00379 -0.11069 Jan-2008 5879.8 403.29 -0.09363 -0.06983 Feb-2008 5884.3 409.51 0.00077 0.01531 Mar-2008 5702.1 408.84 -0.03145 -0.00164 Apr-2008 6087.3 412 0.06537 0.00770 May-2008 6053.5 338.44 -0.00557 -0.19668 Jun-2008 5625.9 263.08 -0.07326 -0.25189 Jul-2008 5411.9 305.05 -0.03878 0.14802 Aug-2008 5636.6 330.3 0.04068 0.07953 Sep-2008 4902.5 305.51 -0.13954 -0.07802 Oct-2008 4377.3 167.4 -0.11331 -0.60160 Nov-2008 4288 158.51 -0.02061 -0.05457 Dec-2008 4434.2 143.54 0.03353 -0.09920 Jan-2009 4149.6 99.28 -0.06634 -0.36867 Feb-2009 3830.1 87.39 -0.08012 -0.12756 Mar-2009 3926.1 138.48 0.02476 0.46035 Apr-2009 4243.7 263.4 0.07779 0.64295 May-2009 4417.9 278.37 0.04023 0.05528 Jun-2009 4249.2 264.8 -0.03893 -0.04998 Jul-2009 4608.4 282.86 0.08115 0.06598 Aug-2009 4908.9 355.8 0.06317 0.22942 Sep-2009 5133.9 346.21 0.04482 -0.02732 Oct-2009 5044.5 301.29 -0.01757 -0.13897 Nov-2009 5190.7 274.42 0.02857 -0.09341 Dec-2009 5412.9 259.08 0.04192 -0.05752 Jan-2010 5188.5 253.96 -0.04234 -0.01996 Feb-2010 5354.5 294.76 0.03149 0.14898 Mar-2010 5679.6 339.84 0.05894 0.14231 Apr-2010 5553.3 319.04 -0.02249 -0.06316 May-2010 5188.4 288.66 -0.06797 -0.10007 Jun-2010 4916.9 255.97 -0.05375 -0.12019 Jul-2010 5258 314.87 0.06707 0.20710 Aug-2010 5225.2 286.97 -0.00626 -0.09278 Sep-2010 5548.6 284.31 0.06005 -0.00931 Oct-2010 5675.2 260.59 0.02256 -0.08712 Nov-2010 5528.3 243.97 -0.02623 -0.06590 Dec-2010 5899.9 249.21 0.06506 0.02125 Jan-2011 5862.9 279.78 -0.00629 0.11571 Feb-2011 5994 307.02 0.02211 0.09291 Mar-2011 5908.8 266.42 -0.01432 -0.14184 Apr-2011 6069.9 270.98 0.02690 0.01697 May-2011 5990 266.49 -0.01325 -0.01671 Jun-2011 5945.7 247.03 -0.00742 -0.07583 Jul-2011 5815.2 214.81 -0.02219 -0.13976 Aug-2011 5394.5 165.4 -0.07510 -0.26139 Sep-2011 5128.5 156.3 -0.05057 -0.05659 Oct-2011 5544.2 189.18 0.07794 0.19092 Nov-2011 5505.4 175.57 -0.00702 -0.07466 Dec-2011 5572.3 171.48 0.01208 -0.02357 Jan-2012 5681.6 207.03 0.01942 0.18840 Feb-2012 5871.5 241.56 0.03288 0.15425 Mar-2012 5768.5 231.95 -0.01770 -0.04060 Apr-2012 5737.8 215.19 -0.00534 -0.07500 May-2012 5320.9 174.6 -0.07543 -0.20902 Jun-2012 5571.1 161.28 0.04595 -0.07936 Jul-2012 5635.3 166.38 0.01146 0.03113 Aug-2012 5711.5 182.49 0.01343 0.09242 Sep-2012 5742.1 213.96 0.00534 0.15909 Oct-2012 5782.7 226.56 0.00705 0.05722 Nov-2012 5866.8 246 0.01444 0.08232 Dec-2012 5897.8 262.4 0.00527 0.06454 4) Descriptive statistics Descriptive statistics    RFT100 RBARC Mean 0.0042 0.0007 Standard Error 0.0036 0.0120 Median 0.0098 -0.0016 Mode - - Standard Deviation 0.0395 0.1313 Sample Variance 0.0016 0.0172 Kurtosis 1.3820 8.6869 Skewness -0.8062 0.3187 Range 0.2225 1.2445 Minimum -0.1395 -0.6016 Maximum 0.0830 0.6429 Sum 0.5027 0.0866 Count 119 119 5) Histograms for the two return series 6) Comments on descriptive statistics The means of RFT100 is higher than that of RBARC (0.0007). the standard error in RFT100 is 0.0036, which is lower than 0.012 of RBARC. The former has a higher median of 0.0098 compared to -0.0016. On the contrary, RBARC has a higher standard deviation of 0.1313 while its variance is 0.0172. RFT100 is skewed to the left at -0.8062 while RBARC is skewed to the right at 0.3187. Both have negative and positive minimums and maximums respectively while the sum varies. 7) Time series plot of prices