Find out the difference Essay Example for Free

Find out the difference Essay I am trying to find out the difference in flight time, of a weighted paper helicopter, on comparison to a mass of blue tack with equivalent mass. Variables Things that could be investigated are:   Wing span which would effect the air resistance of the helicopter   Mass attached to helicopter   Wing area   Increase the mass of the helicopter by adding more paper clips which I predict would effect the rate of which the helicopter would fall. Measurement and different interpretation of these variables could be made for example, increasing the amount of mass then compare it with air resistance by timing a piece of blue tact of same mass. Hypothesis What I predict will happen is, as the mass of the blue tact is increased the speed in which it falls will be increased too. Also I predict that as the mass of paperclips are added to the helicopter the faster it will fall. The reason and objects stay at rest is because the two forces on the object are equal. Things that effect the rate of which the paper clip fall are gravity and air resistance: * If an object is released above the ground it falls, because it is attracted towards the earth. This force of attraction is called gravity. As an object falls through air, it usually encounters some degree of air resistance. Air resistance is the result of collisions of the objects leading surface with air molecules. The actual amount of air resistance encountered by the object is dependent upon a variety of factors. To keep the topic simple, it can be said that the two most common factors, which have a direct effect upon the amount of air resistance, are the speed of the object and the cross-sectional area of the object. Increased speeds result in an increased amount of air resistance. Increased cross-sectional areas result in an increased amount of air resistance. I think when theres more paperclips (when the helicopter is heavier) its time of fall would decrease. I think this will happen because the force pulling the helicopter down (weight/gravity pull) is larger when its heavier whereas air resistance is the same. The reason it will fall is due to gravity acting on the mass at nearly 10meters/sec. But the reason why the ball of blue tack and the helicopter will have varying flight times is due to air resistance. A way of increasing an objects rotational momentum is to put most of its mass as far from the centre of rotation as possible as this will maximise its speed and therefore give it more momentum. If a spinning object has more momentum when its mass is far from the centre of rotation, then it must require more energy to make such an object go the same speed as one with its mass in the centre of rotation. In the preliminary tests I decided I would use medium strength sugar paper. The clock is to be started from the top of the ceiling at 2. 5metres and then stopped when the helicopter touches the floor Method. You want to find out the comparison in flight time between the blue tack and the paper helicopter; the helicopter design, which should be used, is attached. Paper helicopter must be kept to the same design each time. First the paper helicopter should be weighed with the specified amount of paper clips on an electronic scale, then the weight should be recreated with a piece of blue tack rolled into a ball. The height of the drop should be stated, then the paper helicopter and blue tack should be dropped at separate times while being timed with a stop watch and recorded. This should be repeated 3 times to make sure no mistakes occur. It is fair test because: 1. Electric scales are used to make sure the measurement are as precise as possible. 2. The test is committed inside thus avoiding wind, which would effect the experiment. 3. It is repeated 3 time in order to make sure no anomalies occur. 4. The same height of which it is dropped will be kept. Some of the variables that can be changed are the weight and design of the helicopter but those will be kept the same by simply making sure accuracy and care is performed. The clock is to be started from the top of the ceiling at 2. 5metres and then stopped when the helicopter touches the floor Risk Assessment. Well the experiment is fundamentally safe with the only danger being that of which you stand on to reach the desired height on to drop the helicopter and the ball. Diagrams Results Analysis The experiment was repeated so that we have 3 separate results for accuracy. What I found out was that although the mass are the same for both object this doesnt mean that they will have the same amount of flight time. This is due to the varying air resistance of the two objects. My results proved my hypothesis to be correct and I also found out was that the higher the mass on the helicopter the faster the helicopter span. As gravity pulls the helicopter down, air pushes up against the blades, bending them up. Because the blades are slanted slightly, some of that push becomes a sideways push. Because you have two blades that are pointed in opposite directions, the two opposing pushes of air cause the helicopter to spin. The rotation speed increases as the weight (paper clips) increases, but a point is reached where additional weight pulls down with such force that the wings move upward and the plane falls like and falling object. Air resistance is proportional to the falling bodys velocity squared. For an object to experience terminal velocity, air resistance must balance weight. An example that shows this phenomenon was the classic illustration of a rock and a feather being dropped simultaneously. In a vacuum with zero air resistance, these two objects will experience same acceleration. But this does not happen on Earth. Air resistance will equal weight more quickly for the feather than it would for the rock. The reason why the helicopter with most paper clips fell faster was due to Terminal Velocity. So a helicopter with more paperclips will experience a Terminal Velocity greater that a helicopter with less paperclips. Trends that happened in the experiment include that as the mass increased on the helicopter the time to fall was shortened and with continued tests would equal out to the same flight time of the ball of blue tack, reducing the effect of air resistance drastically. The paper helicopter initially accelerates due to the force of gravity, because the downward force due to his weight is the only force acting on him. Then it starts to experience frictional force of air resistance in the opposite direction. As the helicopter increases in speed eventually the force due to air resistance is equal to the force due to his weight. This means that the air resistant force is equal to the force due to the weight. This means that the resultant force acting on him is now zero and it continues to fall a constant speed called the terminal velocity. Conclusion What I found out was that as the mass increased on the helicopter the effect of resistance on the helicopter dropped on comparison to the blue tack ball. I found out that although two objects may be the same mass it depends on the other forces effecting it, and in this case it was air resistance acting upon it. The helicopter was better shaped to stay in the air longer, but as the mass increased the wings were unable to open. Evaluation The results did fit into a clear pattern and are as expected, as the mass was increased the rate in wish it fell was faster and as you can see by the comparison of the blue tack it was getting close to the rate of the blue tack. For one example of a slight anomaly is in experiment 1 at the weight at 2. 2g It seems out of place. The results seem reliable and follow a trend with minimal anomalies. Preliminary tests were completed and no alterations were made, as the tests were a success. In the preliminary tests I decided I would use medium strength sugar paper. Some of the reasons that could have caused the anomalies are:   The accuracy of taking the timing could have been at fault   The releasing of the helicopter Things that made the test unfair are:   Every time you put a paper clip, centre of gravity / centre of mass is different. What would have been better to get a precise reading to the falling would have been to use a laser trigger to set the stop clock off because for people to be split second accurate it would be extremely difficult if not in possible. To extend my experiment I would like to drop the helicopters with greater masses on but be able to record the timing of them accurately. References 1. The essentials of AQA science: Double Award Coordinated Physics 2. Key science by Jim Breithaupt Chris Sommers Page 1 10/05/2007.

The Section 41 Approach In Sexual Offence Trials Law Essay

The Section 41 Approach In Sexual Offence Trials Law Essay Historically, the prejudicial effect of rape myths and sexual history evidence has been problematic for the courts in sexual offence trials. In 1999, Parliament enacted s.41 of the Youth Justice and Criminal Evidence Act to place stringent restrictions on sexual history evidence. However, these provisions have caused some difficulties for the courts. While the landmark case of A(2) resolved some of the issues, it will be put that the law remains vexed and, once again, in dire need of reform. A new approach is required which does not exclude evidence from consideration by the jury. Instead, rape myths need to be attacked directly, so they can be eradicated, and their impact neutralized. This discourse will be prefaced by a discussion of the events leading up the 1999 Act, followed by a cursory overview of the approach taken by s.41 in order to highlight some of the primary problems with the legislation. Subsequently, the House of Lords decision in A(2) will be scrutinized, followed by consideration of some suggestions for reforming the law. Traditionally, the investigation and prosecution of rape and other sexual offences has been rife with difficulties, especially in the area of evidential requirements. Aggressive questioning of female complainants about personal sexual matters was commonplace, and sexual history evidence was considered relevant to consent and credibility. Over time, myths and stereotypes developed which exerted prejudicial effects on the fairness of trials. In R v Riley, evidence of previous voluntary sexual relations with the accused was admissible in order to assert that it was more likely that the complainant consented to the incident in question.  [2]   In 1975, the Heilbron Committee considered legislative reforms, examining the impact of sexual history evidence. Their report recommended that it should only be admissible in very limited circumstances, that there should be some limited judicial discretion along with an inclusionary rule based on striking similarity. Unfortunately, when drafting s.2 of the Sexual Offences Act 1976, these proposals were largely ignored. The complainants sexual behaviour with someone other than the defendant should only be referred to when it would be unfair to exclude it, based on the judges discretion.  [3]   However, the practical application by the courts was too permissive with too much judicial discretion, resulting in sexual history evidence being admitted too freely.  [4]   Amidst growing disquiet, in 1998 the Home Office scrutinized the practical application and the failures of the 1976 Act. The White Paper Speaking Up for Justice exposed numerous inherent weaknesses which necessitated reform.  [5]  This report was criticized by Diane Birch and Neil Kibble for contributing to the shortcomings of Parliaments response in 1999. The YJCEA debates on the draft bill reflected a lack of consensus on the ideal approach to rape shield legislation, including prevalent concerns about over-restrictiveness and the dangers of excluding relevant evidence.  [6]  The wider jurisprudence was surveyed, including approaches in Australia, Canada, and Michigan. The landmark Canadian case R v Seaboyer  [7]  , where McLachlin J. coined the term twin myths, challenged the provisions of s.276 of the Criminal Code composed of a rule of exclusion with three exceptions.  [8]  Resultantly, the Canadian Supreme Court held that s.276 unconstitutionally violated the right to a fair trial. The impact of these developments played a central role in the YJCEA debates in the UK, as à ¢Ã¢â€š ¬Ã‚ ¦they were cited as evidence that legislative straitjackets had been attempted and failed.  [9]   Parliaments response was s.41 YJCEA 1999, which engendered a more restrictive and structured approach to attacking the twin myths that sexual experience may indicate a propensity to consent and a lack of veracity.  [10]  The aim of the legislation was to strike a balance between protecting claimants from the prejudice of sexual history evidence while securing the defendants right to a fair trial. The blanket rule of exclusion under 41(1) restricts evidence or questions about any sexual behaviour without leave of the court, which will only be granted where both conditions of the two-part test are satisfied; under s.41(2)(a) where either ss.(3) or (5) applies, and the unsafe verdict test, under s.41(2)(b). Any questions or evidence pertaining to the actual incident can be adduced, such as questions about what the complainant said or did before or during the incident, including humiliating questions. Also, anything not about sexual behaviour, and not including sexual history evidence can be adduced. The rape shield legislation targets other sexual behaviour outside the charge, legitimately seeking to exclude sexual history evidence that is not related to the incident. There is a closed list of four narrow gateways (or exceptions) within which evidence may be regarded as critical. Notably, within a matter of days of coming into effect, the legislation warranted a challenge to the House of Lords to consider whether they were broad enough to prevent injustice.  [11]   The non-consent gateway may admit evidence pursuant to s.41(3)(a), if it is not an issue of consent, such as mistaken identity  [12]  , honest belief in consent, motive to fabricate, or alternative explanation. The consent gateway, may admit evidence about an issue of consent, which is about sexual behaviour which took place at or about the same time as the subject matter of the charge (res gestae)  [13]  , or it is so similar to behaviour that took place as part of the incident that it cannot be explained as coincidence (similar fact). The fourth gateway applies only when the prosecution has adduced evidence about the sexual behaviour of the complainant, whereby the defence can only go as far as is necessary to enable that evidence to be rebutted or explained.  [14]   Upon passing through a gateway and surmounting the two-part test, two further requirements arise. Under s.41(4), questions or evidence intended to impugn the credibility of the complainant are restricted. As well, under s.41(6) evidence or questions must relate to a specific instance of sexual behavior.  [15]   These provisions have raised numerous fundamental concerns. Unlike other jurisdictions, the leave requirement does not apply to the prosecution, making s.41 a one-sided rule of exclusion that only applies to the defence.  [16]  Lord Hope recognized the dangerous threat this posed to the equality of arms principle enshrined in Article 6(3)(d) of the Convention.  [17]  For instance, under s.41, the prosecution would be permitted to adduce evidence of the complainants virginity to illustrate that it was unlikely that she consented to the alleged acts. On the other hand, the defence is prevented from adducing contrary evidence that the she has experience with multiple partners to show that she is more likely to have consented. Allowing one but not the other seems imbalanced, and raises the broader question whether the true rationale for s.41 is on excluding irrelevant evidence or protecting against humiliation of complainants in cross-examination.  [18]   The vague definition of sexual behaviour under s.42(1)(c) has resulted in some difficulties,  [19]  though it is considered controversially wider now, since it covers evidence of previous or subsequent sexual behaviour with the accused and with third parties. As will be seen, this was a fair trial flashpoint in A(2).  [20]  Professor Birch has argued that equating the accused with third parties creates the danger of redefining the defendant as a stranger, thereby giving potency to the old myth that real rape is committed by strangers.  [21]  For example, relevant evidence of a previous romantic relationship between the defendant and the accused which included sexual relations a few days before the incident in question may be excluded unless it can pass through the narrowly drawn res gestae gateway. If it cannot (and does not satisfy the unsafe test), Thre is no discretion to include it even though it may be highly relevant to the defence case. The restrictive gateways approach has created integral concerns regarding the exclusion of relevant evidence, where its prejudicial effects compromises the fairness of trials. Combined with restrictions on judicial discretion, the shortcomings of using only three fixed exceptions to try and predict every eventuality is exacerbated further. Neil Kibble, in his 2004 report, stated that other jurisdictions like Canada and Australia have already rejected this pigeon-holing approach on the ground that even if judges get it wrong you cant address the problem effectively by eliminating their discretion.  [22]   The shortcomings of s.41 reached critical mass in the landmark case of A(No.2) which involved a rape trial, where the accused alleged an ongoing sexual relationship with the complainant three weeks prior to the incident in question, with the last occasion being one week prior. The trial judge had sought to admit evidence of the previous relationship as relevant to consent, but was unable to do so through one of the gateways. Thus, following the decision of the Court of Appeal,  [23]  the House of Lords intervened, to examine whether excluding such evidence under s.41 would contravene the defendants right to a fair trial pursuant to Article 6(3)(d) ECHR. One of the touchstone issues identified included the extent to which the defence could refer to matters outside the central facts in order to provide the court with fundamental evidence, the absence of which may result in an unjust verdict. Lord Hutton stated that the right of a defendant to call relevant evidence, where the absence of such evidence may give rise to an unjust conviction, is an absolute right which cannot be qualified by considerations of public interest, no matter how well-founded that public interest may be.  [24]   Their Lordships contemplated whether a sexual relationship between the accused and the complainant was relevant to the issue of consent such that to exclude it under s.41 would contravene the defendants right to a fair trial. Reaching a decision required the importation of a residual discretion to decide whether leave should be granted to the defence to adduce evidence of the relationship if it was so central to the issue of consent, that to exclude it would threaten the Article 6 Right to a fair trial. This was achieved by employing s.3 HRA 1998 by reading and giving effect to the similarity exception within s.41(3)(c) in a way that was compatible with Convention rights. Their Lordships qualified their decision by stating that while the aims of the provisions were legitimate, the approach raised questions about proportionality regarding sexual behaviour with the accused. Thus, it was agreed that such evidence could be sufficiently relevant to necessitate its admission in the interests of fairness. Thus, s.41 was rescued from the clutches of repeal, some residual discretion for trial judges was restored, and the gateways relaxed in the interests of fairness. In some respects, the law seemed come back around full circle to where it was before the 1999 Act, based on fairness tempered with judicial discretion.  [25]   However, along with this flexibility came a degree of uncertainty, as it created the danger that the rationale could be broadly applied in any case where the judge adopted the view that fairness under Article 6 may be threatened. Cases such as R v Rooney,  [26]  R v Martin,  [27]  R v R (2),  [28]  and R v White  [29]  indicate how the courts have struggled in the aftermath of A(2). In 2006, a Government White Paper looked at the effectiveness of s.41, whereby National statistical data revealed that s.41 had little or no effect on attrition, while rape conviction rates continued to fall. The report also found that the Crown Court Rules regarding s.41 were frequently ignored or avoided, and recommended that reforms were necessary in order to increase the effectiveness of the legislation.  [30]   A way needs to be found to bring rape myths out in the open so they can be eradicated, and their impact neutralized. Diane Birch stated that if juries can only be trusted to adjudicate on cases of rape within relationships by being kept in the dark about the relationship, there is something fundamentally wrong with jury trial.  [31]   The law should equip judges and juries with the tools needed to effectively attack rape myths in order to mitigate the prejudice of sexual history evidence, like other areas of law such as bad character have done, with enhanced judicial training and jury directions. Interestingly, Vera Baird, QC, the Solicitor-General, recently announced that jury directions are being developed that would instruct juries to ignore rape myths in an effort to increase conviction rates in the UK (amongst the lowest in Europe).  [32]   Consideration should be given to amending the current gateways to widen the scope of factors considered, and additional gateways should be added such as implementing a safety-valve type of residual discretion in order to admit evidence falling outside of the exceptions, similar to the approach taken by s.276 of Canadian Criminal Code after the ruling in R v Seaboyer.  [33]  This should reflect a recognition of the value of contextual factors as explanatory evidence, in line with Lord Huttons mindset argument approach in A(2). The culmination of what has been discussed thus far establishes that the aims of s.41 YJCEA 1999 are legitimate, as rape myths have threatened the fairness of trials for centuries. However, it has been argued that the approach taken by s.41 does not strike an effective balance between protecting the complainant from the ravages of sexual history evidence versus securing the defendants right to a fair trial under the Convention. The restrictive gateways are incapable of foreseeing every eventuality, and thus create the potential for relevant evidence to be excluded from consideration by the jury. The House of Lords decision in A(2) addressed this issue, and was required to import in some residual judicial discretion in order to resolve the dilemma and prevent repeal of the Act. However, this decision created some uncertainty, which has left the law unresolved and in a muddle. The suggestions for reform center around one underlying theme: the law needs to move towards enabling judges and juries to squarely attack the rape myths, and be able to handle sexual history evidence with the sensitivity required so as to mitigate prejudice while not risking the fairness of trials. A fine balance must be struck between the flexibility of some limited judicial discretion and the certainty provided by the legislative restrictions of s.41 in order for the law to operate effectively. The former must not come at the expense of the latter.

The Benefits of Extracurricular Activities for Students Essays -- Educ

It is important for adolescents to participate in extracurricular activities. Student who participate in these activities improve their academic scores and social life. Extracurricular activities can also help reduce many peer pressure related problems. â€Å"They enrich the lives of the students, their families and our communities. These activities create well rounded children who learn what their interests and talents are because they have been exposed to such opportunities† (Extracurricular Activities, Blogadmin). For most adolescents extracurricular activities should be required among what they do outside of school. What are extracurricular activities? Extracurricular activities are those sponsored by and usually held at school but are not part of the academic curriculum. There are usually many extracurricular activities available including team sports, such as soccer, baseball, basketball, and volleyball, and academic interests such as foreign language club, debate team, chess club, student government, student publications, 4-H Club, environmental clubs, choir, band, photography, politics, and business (Wells). There are activities for everybody so encourage adolescents to go try something, and they might turn up liking it. To get involved in these activities schools usually have a list of multiple activities that a student can be in (Dowshen). There might be a certain age that is required to be in activity, but there are endless amounts of things that adolescents can do (Dowshen). Money is one of the other big problems most kids think of when they want to go into an extracurricular activity. Most of the money that will need for the activity can be cut down by fundraising. If the money can’t be made by fundraising, sch... ...involved_school.html>. Hollrah, Rachel. â€Å"Extracurricular Activities.† 20 October 2014. . Levack, Nicholas A. â€Å"Can extracurricular activities help your child resist peer pressure?† Helium. 25 October 2014. . Needlman, Robert M.D. â€Å"Extracurricular Activities.† 26 August 2004. 25 October 2014. . Smith, Allison. â€Å"Extracurricular Activities.† University of Michigan. 25 October 2014. . Wells, Ken R. â€Å"Extracurricular activity.† Answers.com. 27 November 2004. Answer Corporation. 07 November 2014..

What Do Children Owe Their Parents? Essay -- Sociology, Family, Parent

Every child who has been placed on this earth was made by the choice of their parents, who were given the opportunity to procreate. As children grow up and become adults, their parents become elderly and are unable to take care of themselves. Grown children don’t owe their parents anything, but to have a relationship of honoring their parents with love and respect. Parents are role models who are the important key elements in a child’s development. Your parents were there to give you life, to take care of you and to teach you what is right from wrong. â€Å"I will maintain that parents’ voluntary sacrifices, rather than creating â€Å"debts† to be repaid,† tend to create love or â€Å"friendship† (English 720). Depending how parents treat the child either in a negative or positive way, will determine how the Grown child will treat their elderly parents when they get older. â€Å"The duties of grown children are those of friends and result from love between them and their parents, rather than being things owed in repayment for parents’ earlier sacrifices (English 720). Your parents did you a favor in giving you life and putting you on this earth. This favor they did for you creates your debt. Not a debt to society, but to your parents. A debt is owing something or someone back from which you borrowed or used their services. A child does not owe their parents anything because they never asked to put in this world in Brotherson 2 the first place. As a child grows up to be an adult, they learn from their upbringing and have a chance to be better adults later on in life through introspection. Your parents made sacrifices to have you and to raise you. As an adult it should be a responsibility and a duty to take care of your parents. â€Å" What do grown... ...sed my graduation. prom, and birthdays. In my heart I am glad that she made me because she could’ve aborted me. After all of this I realize that my father was right about my mother. What I noticed is that her anger that is inside her everyday is mostly from my father and what she regrets is not being a mother to me. Today I don’t keep in any form of contact with her. I want her to decision to affect her for the rest of her life. I can’t be in her life if she doesn’t want me in her life. Brotherson 6 Through your parents mistakes you can be better parents in the future to your children. You can do this by being there for your child and making them be responsible adults in the future. Children owe it to themselves to build a life for themselves. Children owe it to themselves to find happiness in life and they owe it to themselves to make the right choices.

Beetroot Experiment :: Beetroots Anthocyanin Pigment Essays

Beetroot Experiment We are trying to find how the temperature affects the rate at which the anthocyanin pigment leaves the cells, and at what point does the call wall melt. Beetroot Experiment =================== Task ---- We are trying to find how the temperature affects the rate at which the anthocyanin pigment leaves the cells, and at what point does the call wall melt. Please note the two results highlighted found in "test 4" have not been included into my results, as they are obviously anomalous. I did the test more that once to the margin of error smaller. For the first few times I performed the test I could have made a mistake, so to give my results a better chance of being accurate I did the experiment four times and took the average of the tests. A graph of to clearly show the variation my results can be found overleaf. As the temperature increases the transmission reading on the colorimeter decreases. From information that I had already gathered I knew it would be around the 60Â °C mark to 65Â °C, hence which I decided to add a test at 63Â °C. This would help me make a more accurate estimate at what exact temperature the cell wall melts. My graph shows a decrease of transparency in the water between the points of 60Â °C and 70Â °C. From this I can make the prediction that between these two points the wall melts. Analysis The transparency of the water suddenly decreases between the points of 60Â °C and 70Â °C because this is when the cell wall melts. The cause of the sudden loss of transparency is caused when the wall melts and it allows a sudden release of the Anthocyanin pigment. So when the wall melts the pigment is released and the transparency drops - so to find the temperature at which the cell wall melts we just have to look for when there is a sudden loss of transparency in the water. My experiment shows there is a sudden loss of transparency of the water between 6OÂ °C and 70Â °C so I know that the cell wall must have melted between these two points. Before 60Â °C and after 70Â °C the depreciation is not as drastic as between the two points. This is because before 60Â °C there is no, or a very little amount of the pigment allowed to exit the cell, which is not enough to alter the transparency in a big way - this is because up to this point the cell wall is still intact, and after 70Â °C because most of the pigment has already left the cell because the cell wall has melted.

Factor Affecting Job Satisfaction in Banks

A Banker on whom a cheque is drawn should pay the cheque when it is presented for payment. * This cheque paying function is a distinguished one of a banker. * This obligation has been imposed on him by sec. 31 of the N. I Act, 1881. * A banker is bound to honour his customer’s cheque, to the extent of the funds available and the existence of no legal bar to payment. Again, for making payment the cheque must be in order and it must be duly presented for payment at the branch where the account is kept. * The paying banker should use reasonable care and diligence in paying a cheque, so as to abstain from any action likely to damage his customer’s credit. * If the paying banker wrongfully dishonours a cheque, he will be asked to pay heavy damages. * At the same time, if he makes payment in a hurry, even when there is sufficient balance, the banker will not be allowed to debit the customer’s account.If he does so, it will amount to sanctioning of overdraft without pri or arrangement, and later on, the customer can claim it as precedent and compel the banker to pay cheque in the absence of sufficient balance. His position is very precarious and is in between the devil and the deep sea. PRECAUTIONS BEFORE HONORING A CHEQUE In order to safeguard his position, the paying banker has to observe the following precautions before honouring a cheque. Presentation of The Cheque (a) Type of the cheque: Before honouring a cheque, he must find out the type to which it belongs.Cheques may generally be of two types- open or crossed. If it is an open one, the payment may be made at the counter. If it is crossed, the payment must be made only to fellow banker. If it is specially crossed, the payment must be specifically made to that banker in whose favour it has been crossed. If there are ‘A/C Payee’ and ‘Not Negotiable’ crossings the paying banker need not worry, as they are the directions only to the collecting banker. If the paying ban ker pays a cheque contrary to the crossing, he is liable to the drawer. Therefore, he must pay special attention to the type of a cheque. b) Branch: The Paying banker should see whether the cheque is drawn on the branch where the account is kept. If it is drawn on another branch, without any prior arrangement, the banker can safely return the cheque. (c) Account: Even in the same branch, a customer might have opened two or more accounts. Hence, the paying banker should see that the cheque of one account is not used for withdrawing money from another account. (d) Banking hours: The paying banker should also note whether the cheque is presented during the banking hours on a business day. Payment outside the banking hours does not amount to payment in due course. e) Mutilation: If a cheque is torn into pieces or cancelled or mutilated, then, the paying banker should not honour it. He should return the cheque for the drawer’s confirmation. In a case cheque is torn accidentally, t he drawer must confirm it by writing such words as ‘Accidentally torn by me’ and affixing his full signature. A cheque torn into two or more pieces is generally returned with a remark ‘Mutilated’. Form of cheque: Printed form: The cheque must be in proper form. It must satisfy all the requirements of law. The customers should draw cheques only on the printed leaves supplied by the bankers.Unconditional order: The cheque should not contain any condition. If it is a conditional one, the paying banker’s position will become critical and he may not honour it. Date: Before honouring a cheque, the bank must see whether there is a date on the instrument. If it is undated, it cannot be regarded as a valid instrument. If a cheque is ante- dated, it may be paid if it has not become stale by that time. A cheque, which is presented after six months, from the date of its issue, is a stale one. If a cheque is post- dated, he should honour it only on its due date.A mount: The next important precaution is that the banker should see whether the amount stated in the cheque, both in words and figures, agree with each other. If the amount is stated only in figures, the banker should return it with a remark ’Amount required to be stated in words’. However if the amount stated only in words, the banker may honour it. Supposing , there is a difference in the amount stated in words and figures, then the banker can take any one of the following courses available to him: i) He can dishonour the cheque with a memorandum ‘words and figures differ’ or i)He can honour the amount stated in words According to Sec. 18 of the N. I. Act, if the amount undertaken or ordered to be paid is stated differently in figures and words, the amount stated in words shall be the amount undertaken or ordered to be paid. ’ However in practice, if the difference is insignificant, payment is sometimes made. But usually the paying banker returns t he cheque under such circumstances, since there is an audit objection to the practice of honouring such cheques. III. Sufficient balance: There must be sufficient balance to meet the cheque.If the funds available are not sufficient to honour a cheque, the paying banker is justified in returning it. So, before honouring a cheque, he must check up the present state of his customers account. IV. Signature of the drawer: The next important duty of a paying banker is to compare the signature of his customer found on the cheque with that of his specimen signature. If he fails to do so and if he pays a cheque , which contains a forged signature of the drawer, then, the payment will not amount to payment in due course. Hence, he can not claim protection under Sec. 85 of the N. I. Act.If the signature has been too skillfully forged for the banker to find it out, even then the banker is liable. However, if the customer facilitates the forgery of his signature by his conduct, then, the banker will be relieved from his liability. Legal bar: The existence of legal bar like Garnishee Order limits the duty of the banker to pay a cheque. Garnishee order refers to the order issued by a court attaching the funds of the judgment debtor (i. e. , the customer) in the hands of a third party (i. e. , the banker). The term ‘Garnishee’ refers to the person who has been served with the order.This Garnishee proceedings comprise of two steps. As a first step ‘Garnishee Order Nisi’ will be issued. ‘Nisi’ means ‘unless’. In other words, this order gives an opportunity to the banker to prove that this order could not be enforced. If the banker does not make any counterclaim, this order becomes absolute one. This ‘garnishee Order absolute’ actually attaches the account of the customer. If it attaches the whole amount of a customer’s account, then, the banker must dishonour the cheque drawn by that customer. He can honour his cheques to the extent of the amount that is not garnished. Endorsement:Before honouring a cheque, the banker must verify the regularity of endorsement, if any, that appears on the instrument. It is more so in the case of an order cheque, which requires an endorsement before its delivery. For instance, if there is per pro endorsement, the banker must find out the existence of authority. Failure to do so constitutes negligence on the part of the paying banker. Per pro endorsement is an endorsement made by an authorized agent. Prior information about the delegation of authority to the agent must have been given to the banker. Otherwise, a banker is not legally bound to accept this type of endorsement.CIRCUMSTANCES UNDER WHICH A CHEQUE CAN BE DISHONORED Countermanding: Countermanding is the instruction given by the customer of a bank requesting the bank not to honour a particular cheque issued by him. When such an order is received, the banker must refuse to pay the cheque. If a cu stomer informs by telephone or telegram regarding the stopping payment of a cheque, the banker should diplomatically delay the payment, till written instructions are received. If the situation is very critical, he can return the cheque by giving a suitable answer like ’payment countermanded by telephone and postponed pending confirmation. Therefore, countermanding instructions, once received, must be kept as a constant record. A ‘stopped payment’ register may be maintained for ready reference. Upon the receipt of notice of death of a customer: When a banker receives written information from an authoritative source, (preferably from the nearest relatives) regarding the death of a particular customer, he should not honour any cheque drawn by that deceased customer. If the banker is unaware of the death of a customer, he may honour the cheque drawn by him.Death puts an automatic end to the contractual relationship between a banker and his customer. Upon the receipt of notice of insolvency: Once a banker has knowledge of the insolvency of a customer, he must refuse to pay cheques drawn by him. Upon the receipt of notice of insanity: Where a banker receives notice of a customer’s insanity, he is justified in refusing payment of the cheque drawn by him. The banker should make a careful note, when the lunacy order is received. It is advisable that the banker should act upon a definite proof of the customer’s insanity like a doctor’s certificate, a court order etc.Upon the receipt of notice of assignment: The bank balance of a customer constitutes an asset and it can be assigned to any person by giving a letter of assignment to the banker. Once an assignment has been made, the assignor has no legal rights over the bank balance and therefore, if any cheque is drawn by him, the banker should refuse to honour it. When a breach of trust is intended: In the case of a trust account, mere knowledge of the customer’s intention t o use the trust funds for his personal use, is a sufficient reason to dishonour his cheque.Defective title: If a person who brings a cheque for payment has no title or his title is defective, the banker should refuse to honour the cheque presented by him. For instance, a person who brings a cheque, which has been countermanded or which has been forged, has no title to it. Statutory Protection to a Paying Banker: Supposing, a paying banker pays a cheque, which bears a forged signature of the payee or endorsee, he is liable to the true owner of the cheque. But, it is quite unjustifiable to make the banker responsible for such errors.It is so because; he is not expected to know the signature of the payee or the endorsee. Therefore, law relieves the paying banker from his liability to the true owner in such cases. This relief is known as ‘statutory protection. ’ To claim protection under Sec. 85 of the N. I. Act, 1881, the banker should have fulfilled the following conditio ns: * He should have paid an order cheque. * Such a cheque should have been endorsed by the payee or his order. * It should have been paid in due course. PAYMENT IN DUE COURSE The cheque should have been paid in due course as per Sec. 0 of the N. I. Act. This concept of payment in due course has three essential features: (I) Apparent tenor of the instrument: To avail of the statutory protection, the payment should have been made according to the apparent tenor of the instrument. The apparent tenor refers to the intention of the parties, as it is evident from the face of the instrument. Example: If a drawer draws a cheque with a post –date, his intention is to make payment only after a certain date. If it is paid before the due date, this payment does not amount to payment in due course.So also, the payment of a countermanded cheque does not amount to payment in due course. (ii) Payment in good faith and without negligence: Good faith forms the basis of all banking transaction s. As regards negligence, the banker may sometimes be careless in his duties, which constitutes an act of negligence. If negligence is proved, the banker will loss the statutory protection given under Sec. 85. Example: * Payment of a crossed cheque over the counter. * Payment of a post-dated cheque before maturity. * Failure to verify the regularity of an endorsement. iii)Payment to a person who is entitled to receive payment: The banker must see that the person, who presents the cheque, is in possession of the instrument and he is entitled to receive the amount of the cheque. Protection to a bearer cheque: Now this protection has been extended to bearer cheques also under sec. 85(2). If a bearer cheque is paid in due course, the banker is entitled to get protection. Statutory Protection in the case of a Materially Altered Cheque: A paying banker cannot normally claim any statutory protection for a materially altered cheque. However; Sec. 89of the Negotiable instrument Act.Gives pro tection in the case of a materially altered cheque provided, (1) He is liable to pay, (2)Such an alteration is not apparent and, (3) The banker has made the payment in due course. Recovery of Money Paid by Mistake: Under the following circumstances, money wrongly paid can be recovered:- (i)Money received mala fide is recoverable: When a person receives money by mistake in bad faith, knowing that he is not entitled to receive that money, then, the banker is entitled to recover the same. (ii) Money paid under a mistake of fact is recoverable: For instance, a banker pays money to X, thinking that he is Y.This is a mistake of fact regarding the identity of the parties. Y is under a legal duty to pay the money back to the banker. COLLECTING BANKER A collecting banker is one who undertakes to collect the amount of a cheque for his customer from the paying banker. In collecting a cheque, the banker can act in two capacities namely (1) as a holder for value, and (2) as an agent for collecti on. The banker would be as a holder for value: (a) If he allows his customers to withdraw money before cheques paid in for collection are actually collected and credited. b) If any open cheque is accepted and the value is paid before collection, and (c) If there is a reduction in the overdraft account of the customer before the cheque is collected and credited in the respective account. In all these cases, the banker acquires a personal interest. A Banker as an agent: In practice, no banker credits a customer account even before a cheque is collected. He collects a cheque on behalf of a customer. So, he cannot acquire any of the rights of a holder for value. He has to act only as an agent of the customer. Duties of A Collecting Banker: i) Exercise reasonable care and diligence in his collection work: When a banker collects a cheque for his customer, he acts only as an agent of the customer. He should exercise reasonable care, diligence and skill in collection work. (ii) Present the cheque for collection without any delay: The banker must present the cheque for payment without any delay. If there is delay in presentment, the customer may suffer losses due to the insolvency of the drawer or insufficiency of funds in the account of the drawer or insolvency of the banker himself. In all such cases, the banker should bear the loss. iii) Notice to customer in the case of dishonour of a cheque: The N. I. Act has prescribed a reasonable time for giving the notice of dishonour. If he fails to do so, and consequently, any loss arises to the customer, the banker has to bear the loss. (iv) Present the bill for acceptance at an early date: As per sec. 61 of the N. I. Act, a bill of exchange must be accepted. If a banker undertakes to collect bills, it is his duty to present them for acceptance at an early date. (v) Present the bill for payment: The banker should present the bills for payment in proper time and at proper place.If he fails to do so and if any loss occurs to the customer, then, the banker will be liable. According to Sec. 66 of N. I. Act a bill must be presented for payment on maturity. (vi) Protest and note a foreign bill for non-acceptance: In case of dishonour of a bill by non-acceptance or non-payment, it is the duty of the collecting banker to inform the customer immediately. Generally he returns the bill to the customer. In the absence of specific instructions, collecting bankers do not get the inland bills noted and protested for dishonour.If the bill in question happens to be a foreign bill, the banker should have it protested and noted by a notary public and then forwarded it to the customer. Statutory Protection to the collecting Banker: According to sec. 131 of the N. I. Act, statutory protection is available to the collecting Banker in the following cases: (i)Crossed cheques only: a collecting banker only for crossed cheques can claim statutory protection. It is so because, in the case of an open cheque, it is not absolutely necessary for a person to seek the service of a bank. ii) Collections on behalf of customers as an agent: a banker only can claim the above protection for those cheques collected by him as agent of his customers. iii) In good faith and without negligence: In order to get the protection under this section, a collecting banker must act in good faith and without negligence. Matter of negligence is of great importance. Basis of negligence: When a collecting banker wants to claim protection under Sec. 131, he has the burden of proving that he has acted without negligence.Gross negligence: If a banker is completely careless in collecting a cheque, then, he will be held liable under the ground of ‘gross negligence. ’ Examples: Collecting a cheque crossed ‘A/C payee’ for other than the payee’s account: Account payee crossing is a direction to the collecting banker. If he collects a cheque crossed ’A/C payee’ for any person other than the payee , then, this fact will be proved as an evidence of gross negligence. FAILURE TO VERIFY THE CORRECTNESS OF ENDORSEMENT If a banker omits to verify the correctness of endorsements on cheques payable to order, he will be deprived of the statutory protection. i)Failure to verify the existence of authority in the case of per pro signatures: If a collecting banker fails to verify the existence of authority in the case of per pro signatures, if any, will be proved as an evidence of gross negligence. (ii) Negligence connected with the immediate collection: If, on the face of a cheque, there is a warning that there is misappropriation of money, the collecting banker should make some reasonable enquiry and only after getting some satisfactory explanations, he can proceed to collect cheques.Examples: * Collecting a cheque drawn against the principal’s A/c, to the private A/c of the agent without enquiry. * Collecting a cheque payable to the firm to the private A/c of a partner without e nquiry. * Collecting a cheque payable to the company to the private account of a director or any other officer without enquiry. * Collecting a cheque payable to the employer to the private account of the employee would constitute negligence under sec. 131 of the N. I. Act. * Collecting a cheque payable to the trustee, to the private account of the person operating the trust account is another instance of negligence of a banker. iii) Negligence under Remote Grounds: Normally, we cannot expect a banker to be liable under certain circumstances. But, the bankers have been held negligent under those situations, which are branded as ‘remote grounds. ’ Examples: * Omission to obtain a letter of introduction from a new customer causes negligence. * Failure to enquire into the source of supply of large funds into an account, which has been kept in a poor condition for a long time, constitutes negligence.

Hanson Industry HPL

Abstract Hansson Private Label (HPL) is a manufacturer of personal care products. The company was purchased by Mr Hanson in 1992. The investment represented significant risk for Hanson because a significant portion of his wealth was tied up is a single investment. Over the past sixteen years Hanson has grown the company at a conservative but persistent fashion. He is now faced with an investment opportunity that promises swift growth but also accompanies significant amount of risk. The sales of the private labels are dependent on few larger customers and customer retention is very important to a company like HPL. Recently HPL’s largest customer has approach the company for a large order. The company will need to invest in expanding its facilities in order to meet the order requirements. This is an excellent opportunity for HPL but the downside is that the customer would only commit to a three year contract and the company can bear significant losses if the customer refuses to buy the product after the contract expires. Therefore Hansson needs to accurately calculate the cash flows related to the investment and account for the risk inherent in the investment before he can make decision on the expansion project. Excel Sheet Projections for Expansion Project Investment Appraisal for Expansion Project 2009-2018 Free Cash Flows, NPV, IRR, MIRR Calculation of Cost of Capital Riskfree Rate, Market Risk Premium, EquityBeta, Cost of Equity, Cost of Debt, WACC Sensitivity Analysis of Key Projections Decrease of 10% Current Increase of 10% Capacity Utlilization, Selling Price, WACC, Production Cost Page 1 HPL. tx. txt Questions Covered 1. There are two main parts to any valuation analysis: Projection of cash-flows and discounting them by the appropriate discount rate. Your main objective is to analyze the appropriateness of both these parts. Are the cash-flow projections reasonable? Does the discount rate make sense? 2. Estimate appropriate incremental after-tax cash-flows. Make sure that you explain the appropriateness of your cash-flow projections. 3. What should the discount rate depend on? Discuss. 4. Finally, offer your conclusions including an analysis of strategic implications of the proposal. You are not expected to know as much as the insiders of the firm. They will certainly know more. But, do the best you can.