How to Invest Like Warren Buffett Essay Example for Free

How to Invest Like Warren Buffett Essay Introduction Simplicity is the best word to describe the life of philanthropist and mega-billionaire Warren Buffett. The same single word also depicts his multi-billion worth of investment principles and strategies (Cunningham, 2008, p. 18). For more than fifty years Buffett was able to build a multi-billion investment empire with his simple investment philosophy. Like his more than 60 billion dollar fortune under his name, Buffett, who is by far the greatest philanthropist of all time for donating almost all of his wealth to the Bill Melinda Gates Foundation, is also one of the most observed and most admired personalities in business with countless of articles, books and blogs written about him. If most common people look at him as the most generous man in the world today, people in the corporate world regard him as the greatest guru— or even ‘God’— in the realm of investment. With his great fortune, he is considered ‘God’ in investment because of his ability to spot real value when everybody focuses their attention on market movements and because of his unparalleled skills and knowledge to transform simplicity into greatness. If most billionaires like Bill Gates and Lakshmi Mittal built their business empires through managing profitable technology corporations and industrial firms, Buffett made billions by simply knowing how and when to invest his money. How He Started To know more about the investing secrets of Warren Buffett, it is necessary to look at how he managed his most precious property— his life, and how he lives it (Schroeder, 2008, p.1). He learned how and when to earn money at an early age, and he filed his first income tax return when he was only 13 (Sosik, 2006, p.149). Buffett’s value investment career started when he put his money in Berkshire Hathaway, a little known and ignored holding company based in Omaha, Nebraska in the 60’s. Now everybody is startled to know that if you invested $10,000 in the company in 1965, the value of that money today would be more than $30 million (Investopedia Staff, 2007). If his close billionaire friend Bill Gates dropped out of Harvard University to focus on Microsoft Corporation, Buffett, who is known in the business world as ‘Oracle of Omaha,’ was rejected by Harvard Business School. This experience somehow taught him a great deal not only about business but also about life. To most people Harvard is one of the best, if not the best, schools in the world, but Buffett thought otherwise— his basis of choosing school was not the institution, but the people who would impart the requisite knowledge and values. So when asked about his mentors, Buffett only had three people on top of his mind— his father, Benjamin Graham, and Phil Fisher. His father— Howard Buffett— taught him the positive values he needed to live, while Graham and Fisher taught him the basic principles in investment and how to make money in this profession. His investment style is consisted in the following rubric— think outside the box. When he graduated from college, he wanted to make money in Wall Street, but his father and Graham discouraged him (Miles, 2004, p. 30). The two believed that there were great opportunities waiting for him outside Wall Street. That was the time when everybody wanted to work on Wall Street and when everybody focused their attention on the stock market. Buffett believes that stocks are more than just an asset or capital; it is business. His Philosophy It would be futile to know the secrets of his billion dollar secrets without knowing how he thinks and what he believes in. Unfortunately, most of his biographers failed miserably to look into what is in the mind of the world’s greatest investor. In fact, a review of some literatures and articles would reveal that they just focus on the extrinsic side of Warren Buffett; they failed to look at the intrinsic aspect of his life. Many believe that his philosophy is consisted in these two major Buffet rules— first, never lose capital; and second, don’t ever forget the first rule (Miles, 2004, p. 70). It would be best to say that this does not embody Buffett’s philosophy but rather his tactical investment approach. A business philosophy is something that one holds as his primary direction in life— the fountainhead of his concepts and beliefs, the beacon of his goal, and the reason for living. Buffertt’s business philosophy can be expressed by his following simple quote— â€Å"Be feaful when others are greedy and be greedy when others are fearful† (Hagstrom, 1997, p. 52). Essentially this buffett-line expresses the inherent nature of free-market system, which he and his friend Bill Gates have in common. Under a free-market system, it is rational and ethical to be greedy, since the primary goal of a capitalist is not just to earn profit but to expand it and ensure that it creates limitless profits and opportunities. For some this statement may sound ironic or paradoxical since it contradicts the popular or media-fed persona of Warren Buffett. With this belief— that greed is good, Buffett was able to transform his meager investment into a multi-billion dollar empire that even exceeded that of Gates and Mittal. His investment experience proves that by creatively and greedily investing one’s money— one can make a good or even great fortune out of creative value investment. So what does it take to be like Warren Buffett? Definitely it takes a rational and moral philosophy, proper knowledge, and non-conventional investment point of view to follow the billion dollar investment footsteps of Buffett. But what is the role of philosophy in Warren Buffett’s billion dollar investment strategy? The problem with most people is that they tend to mainly focus on tips, secrets, or strategies. Most successful people did not achieve their status by keeping ‘success secrets’ or ‘strategies’ but by putting into action a rational philosophy that motivates and creates values. A simple look at the life and investment career of Buffett would reveal that it is his rational philosophy that continues to motivate him— that keeps on pushing him to do what he does best. As what Fridson said, budding investors must focus on â€Å"uncompromisingly rational investment philosophy† of Warren Buffett. This is because investment secrets or strategies can be absorbed or learned in a very short span of time or even overnight, but it takes an indefinite period of time to absorb and embody a rational philosophy to translate these secrets or strategies to reality. Of course, this billionaire will not exactly say what people would like to know. Contrary to the many written articles about his investment secrets or strategies, Buffett’s secret is in fact consisted only of three simple words that should be practiced everyday— â€Å"read, research, and think† (Miles, 2004, p. 70). Vague and ambiguous as it may seem but this three-pronged strategy is what Buffet practiced and embodied throughout his more than fifty years in the world of investment. That is why it is stressed in this paper that simplicity best describes the life and investment principles of Buffett. For example, this read-research-think approach of Buffett is the essential element of his cigar-butt investment method. Buffett in fact creatively applied this three-pronged approach in his early years as a value investor. Unlike most investors, Buffett put much premium on his rational judgment than on what most people see in the market. His investment style can be likened to that of a diamond prospector. He knows how to assess which diamond is real or not in just a single glance. He reads, he researches, and he thinks. His Investment Strategy Buffett’s investment strategy is governed by two rules and a number of principles. These dual rules have been mentioned above. This sets the difference between his investment philosophy and his investment strategy. Thus in this paper, Buffett’s investment strategy is composed of rules and principles. Under his primary rule, it is not sensible or moral for an investor to invest and then later on lose his money. Thus this can be avoided by paying attention to his three-pronged investment approach— read, research, and think. By following the aforementioned approach, a young investor may be able to discover several things that are essential in investment’s decision-making process. Buffett considered Graham as his investing mentor. According to Miles (2004, p. 72), it was the Graham school from which Buffett learned not just the basics but also the quantitative principles in investment. On the other hand, he learned a great deal about Fisher’s qualitative side of investment, such as brand, management skills, soft skills, and competition. Thus he said: â€Å"I am an active reader of everything Phil Fisher has to say† (Miles, 2004, p. 72). Now every promising and even established investor is eager to hear what he has to say. Despite his unparalleled success as an investor, he still gives credit to his two mentors, as he likes to say that he is 85 percent Graham and 15 percent Fisher (Hagstrom, 1997, p. 27). The reason why it is important to read, research and think is because in investment, it is highly indispensable to consider the following aspects: a) study the business; b) know well who runs it; c) put money in profits; and the most important of all d) have self-esteem. On the other hand, Buffett’s basic steps when investing are the following (Miles, 2004, p. 70): Determine how much you own Conduct research before buying Focus on business ownership not on stock ownership Simplify investments to manageable proportions Keep a single decision to hold a stock and be a continuing holder For example, before investing his money, Buffett researched first the nature and potentials of Gillette, which is still the world’s top producer of razor blade. Warren’s holding company Berkshire Hathaway invested $600 million in Gillette in 1989; four years ago it already owned 11 percent of said company. This means that from the original $600 million investment, Warren’s holding company’s investment grew up to over $3 billion. When he decided to purchase Gillette, he did not mind its value in the market but the potential profits it could muster in the long run. As a value investor, Buffett put money in securities with low prices according to their intrinsic value. In determining the value of a stock, there is no commonly acknowledged method to get the right figure. Basically, the focus of value investors is not on what the market says but on what the company’s potentials and fundamentals offer. This is because there are some companies that are undervalued by the market yet with good potentials to grow and rake in long-term profits. This is the attitude that Buffett showed to modern investors. Markets only reflect the short-term value of a company, and it takes proper knowledge, better understanding, and courage to discover which company is undervalued and has the capacity to establish a long-term profit-making success. His investment methodology Buffett’s methodology is composed of quantitative aspects in value investment. Under this process, he considers the relation between a stock’s quality and its value. Based on his method, the return on equity is equivalent to net income over shareholder’s equity (Investopedia Staff, 2007). One thing that Buffett considers is debt/equity. Before investing, he conducts research whether a company kept away from excess obligation. This is actually a basic principle in investment— do not invest in a company with huge debt. To Buffett, a debt-ridden company has a low capacity to guarantee return on equity. Debt/equity can be measured by dividing the total amount of obligations by shareholders’ equity (Investopedia Staff, 2007). If a company has more debt than equity, it is not advisable to put money in such company since it uses debt to finance its assets and operations. For instance, a company that has a higher ratio of debt vis-à  -vis equity has an unpredictable earning capacity and is prone to high interest expenses (Vick, 2000, p. 169). When one is investing in a particular company, it is advisable to look at the long-term obligation rather than the total amount of debt. Another aspect that is considered by Buffett is the profit margin. However it is not only important to know if a company’s profit margin is high, what is more important is to know whether it is growing. The capacity of a company to earn long-term profits relies not merely on having a positive profit margin but on constantly expanding this profit scope as well. The attitude of Buffett towards investment can be explained by how he managed Berkshire Hathaway. He purchases stocks to keep the same and he does not look at stocks as a commodity that can be bought and sold but as a business entity. His investment style is simple— he buys stocks and treats them as his own business, and this business makes profits not just for a short span of time but for as long as it stays profitable. He also considers the age of the company— the longer the better. Those that stay in the business for at least ten years are good investment opportunities. Since Buffett admits that he only has a limited knowledge in technology corporations he only puts money in a business which he absolutely understands. He puts much premium on longevity, and this principle brought him where he is right now. When he invested in Berkshire Hathaway, he envisioned of a long-term business that could earn a limitless amount of profit. This is what he learned from Graham, which most researchers consider as the proponent of old school in investment. Perhaps the new school in investment is the buy-and-sell style of most investors wherein profits are short-term and limited. Interestingly, Buffett also looks at the nature of business of a particular company. If most investors usually look at numerical figures, Buffett focuses on the qualitative sides of a company. For example, if a company depends on a commodity like gas and oil, he thinks that such company only offers limited returns on equity (Investopedia Staff, 2007). If the product of a company is identical from those of its market rivals, he thinks that competition would hamper the profit-making ability of such company. To understand the importance of this approach in investment, it is necessary to look at the biggest stock holdings of Berkshire Hathaway. The holding company owns 9.5 percent of Gillette, which is the leader in razor blade industry (Jubak, 2004). It also owns 9.2 percent or $10.1 billion of Coca-Cola, which is one of the biggest companies in the beverage industry. The other companies which Berkshire has shareholdings are the following: American Express, American Standard, Ameriprise Financial, Anheuser Busch, Burlington Northern, Comcast, Comdisco, Conoco Phillips, Diageo, First Data Corp., Gannett Inc., GAP, HR Block, Home Depot Inc., Ingersoll-Rd Co., Iron Mountain, Johnson Johnson, among many others (Losch Management Co., 2006). Conclusion Billionaire Warren Buffett is indeed an unconventional value investor who thinks outside the box. At a time when most people paid attention to what the stock market says, Buffett relied only on his competent judgment, on his rational philosophy, and on his self-styled investment principles and strategies. That investment philosophy— be greedy when others are fearful put him to where he is right now, with billions of dollars in his. Despite his unmatched success, he remains humble and still retains the ethical values he learned from his father (Boroson, 2002, p. 18). In business, greed is moral and good. In contrast, fear is something that must be overcome to earn limitless profits from investment. Indeed, Buffett attained his unparalleled success by being ‘greedy’ while others cowered in fear of losing their money.   Taken as a whole, his investment tactic can be summarized into three essential principles— a) make your strategy simple and understandable; b) be consistent with your operations and approaches; c) focus on positive long-standing prospects. One interesting point to take into account is that Buffett’s philosophy and investment strategies never contradict each other. When he advises new investors to be ‘greedy,’ he means profits and business. And when he tells people who would like to follow his footsteps to read, research, and think, he would like them to rely on their own judgment and not be affected by other people’s opinion and market trends. With his more than fifty years in business, Buffett introduced the importance of self-esteem in investment. That it is important to rely on one’s moral judgment. By relying on his own judgment, Buffett maximized his profit-making capacity through Berkshire Hathaway. This means that there is no difference between the work ethics and potentials of a value investor and an industrialist. If Bill Gates and Lakshmi Mittal both create technology through their colossal industrial empires, Buffett creates limitless potentials through his creative and self-inspired investment principles. REFERENCES Boroson, W. (2002). J.K. Lasser’s Pick Stock Like Warren Buffett. New York: Wiley Cunningham, L.A. (2002). How to Think Lke Benjamin Graham and Invest Like Warren Buffett. New York: McGrawhill Professional. Losch Management Co. (2006). Berkshire Hathaway Stock Holdings 2006. Retrieved December 11, 2008, from http://www.loschmanagement.com/Berkshire%20Hathaway/Berkshire%20Holdings/2006.pdf Hagstrom, R.G. (1997). The Warren Buffett Way: The Investment Strategies of the World’s Greatest Investor. New York: Wiley. Investopedia Staff (2007, September 21). Warren Buffett: How He Does It. International Business Times. Retrieved December 11, 2008, from http://www.ibtimes.com/articles/20070921/how-he-does-it.htm Miles, R.P. (2004). Warren Buffett Wealth. Principles and Tactical Methods Used by the World’s Greatest Investor. London: Wiley Sosik, J.J. (2006). Leading With Character.   North Carolina: Information Age Publishing. Vick, T.P. (2000). How to Pick Stock Like Warren Buffett. New York: McGrawhill Professional.

Social Work Practice Essay Example for Free

Social Work Practice Essay THE SUMMARY: The article of Erlinda A. Cordero, Direct Practice in Social Work: An Overview, discuss the social work being a dynamic profession and how its practice should be ready in facing the paradigm shift. The author gave historical background on social work practice before 1970 and how these practices evolve due to varied problems and situations that arise from time to time. Also, she talks on how a state of the art practice should be administered in practicing social work where she emphasizes that for an advance direct practice, such as clinical practice, one is expected to be a holder of Master of Science in Social Work degree. The author gave a quick discussion on the philosophy of direct practice and how the instrumental values evolved and eventually became the principles or guidelines to the practice of social work. The length of the author’s discussion involves the role of social workers in direct practice and the helping process. Towards the end of her article, she discourse the implication of the roles and the helping process of social work both in education and practice. At the end part, she tackles the issues and the emerging trends in social work. Look more:  social process theories essay THE REACTION: Reading the article makes me realize the rapid evolution of social work practice due to the changing events and situations and how the author wanted the social work practitioners to adapt in this change by narrowing the gap between academe and practice. Although I am not a Bachelor of Social Work degree holder I came to appreciate the importance of both social work as a profession and the social workers as the implementing person. My current work challenges me to understand the underlying principles, processes and policies in the field of social work. I think it is my responsibility to deliver quality services to my clients, and to do that, I should equipped myself with the knowledge pertaining to the practice of social work profession. I have a full understanding of the author’s points on her article, and somewhat I agree that this paradigm shift is really a big thing to the profession for it calls for acting various roles at the same time, in facing clients with multi-problems. The demand for having a generalist  perspective is deemed necessary to address this change. I would like deal on the last part of the article that talks on the issues and emerging trends. First point is on her statement â€Å"direct practice in social work demands much from both the practitioners in the field and the social work educators preparing the future professional social workers,† which I understand is very important since a cycle of exchanging ideas and experiences foster additional knowledge to the educators to give to their students who will eventually be a social worker in the field. Direct practice however involves the provision of services to clients (individuals, couples, families and groups) through casework and group work where I think and is not very sure if academe social workers had really a chance of doing this. By this, I think it is important that a registered social worker be allowed to do clinical social work practice. Second point is on her statement â€Å"the diversity of problems and situations require not only the knowledge, skills and attitude to acquire competencies for practice for practice but equally the genuine motivation and commitment to the profession,† which is very true, for motivation and commitment speaks on the passion and the reason on the question, â€Å"why are you doing t his?† For my case, I think the commitment and motivation is there but the knowledge, skills and attitude in social work is something I need to work on. Only now that I realize that the reasons why I took public administration and nursing are basically a combination of the reason why I am engaging myself in the social work profession. That is to be in a helping profession. Lastly, I want to react on her statement â€Å"like most professions in the human service arena, social work is undergoing a shift from the â€Å"disease paradigm† to the strength perspective.† Due to the demand on levelling with the current change and development, social workers should not be tied on the reason they chose the profession because of its need but basically because of the reason that they have this â€Å"spark†, a spark that fuels them to be a committed and competent social worker. For me, I acknowledge the need for social workers today, the workers that will help the sectors of children, women, PWDs, poor, older persons, etc. to be socially capable of restoring, maintaining, improving and developing their lives but I also acknowledge that to be the best social worker, one should evaluate and understand the reason why they are in the profession and how ready they are to be of service to these clients. I am so honoured to be exposed in this profession and I really admire social workers who can help change clients’ lives. I know for myself that eventually I will be one of the best social worker, committed and competent to deliver social services. This is my goal, and somehow having the decision of taking this course is a step closer to achieving this goal. APRIL KATE K. AMADA

History of Contract Law

History of Contract Law Contract Law In Brief – History of Contract Law The development of contract law into its modern conception is fundamentally based on the Latin principle of ‘pacta sunt servanda’ (‘all pacts must be kept’) dating back to when trade first began in earnest. Therefore, with this in mind, as the law has developed, breach of contract has come to be recognised by the common law legal system. As a result, it is to be appreciated that remedies can then be effectively provided as a consequence for all manner of agreements that are reached by parties at various levels from individuals to corporations to countries themselves leading to the establishment of obligations between the said parties entered into freely with the aim to create legal relations. This is because of the fact that clearly, in view of the nature of the relationships that are formed, it is important to look to take steps to effectively guarantee equality in these relationships so that the party that is seen to be in the most superior position cannot simply ride ‘roughshod’ over the consumer simply because it suits them. As a consequence, the common law and the legislation that has since been developed through the years in this area has served to establish where a contract has been effectively and legally formed and as to how and when it can be reached and the remedies that are said to be available in such circumstances for the party that is injured by the breakdown in the relationship. Therefore, with this in mind, it is generally believed that the system is effective but, with ongoing technological advancements, only will tell how long it will take before the law is changed in recognition of this. In the development of the concept and principles of the law of contract in this country the courts, in relation to various aspects of the topic, have reached many significant decisions. By way of illustration, one of the most famous cases in the whole of the law of contract must be the seminal decision in Carlill v. Carbolic Smoke Ball Company [1893] 1 QB 256, in relation to the distinction between an offer and an invitation to treat, that must be closely followed by the decision in Adams v. Lindsell (1818) 1 B Ald. 681, that served to establish the ‘postal rule’ that has since been somewhat adapted, through technological advancements, so as to also be read in accordance with Entores v. Miles Far East Corporation [1955] 2 QB 327. Moreover, the issue of mistake, as a reason for considering a contract to be void, was effectively illustrated by Bell v. Lever Bros Ltd [1932] AC 161, HL, that was also supported by the decision in Derry v. Peek (1889) 14 App Cas 337, HL, in r elation to the concept of misrepresentation. Finally, in relation to consumer protection, the decision in Saphena Computing v. Allied Collection Agencies [1995] FSR 616 is reflective of the need for quality in the goods that are offered by way of contract so that there are standards to be adhered to that can be redressed. In looking to consider whether a valid contract has been formed it is generally considered to be a good idea to look at the negotiations that have taken place between the parties. But this can be quite problematic where there there is a lengthy course of negotiations between the parties because it may be difficult to effectively determine when they have actually reached an agreement, supported by Kennedy v. Lee (1817) 3 Mer 441. Nevertheless, inspite of a prolonged period of continuing negotiations, the courts may be willing to find a concluded bargain; and, if so, a continuance of the negotiations thereafter will not necessarily terminate that agreement, illustrated by Davies v. Sweet [1962] 2 QB 300. However, in making their decision in relation to any series of negotiations put before them, the courts will also look to consider the three fundamental aspects that are recognised as part of any contract – (a) offer; (b) consideration; and (c) acceptance – in order to make their decision about whether an agreement has been fromed leading to a binding contract. (a) Offer The offer is considered to be concerned with the making of a written or oral proposal to give or do something as part of an agreement that may be deemed to be a legally binding contract in certain circumstances that may be express or implied from the conduct of the parties in any given case. As a consequence, it is important to understand that the person making the offer is the offeror, whilst the person to whom the offer is made is the offeree and any given offer must adhere to the following rules – (i) it must be made to a definite person, class or person, or even the world at large; (ii) it must be effectively communicated to the offeree before acceptance; but (iii) the offer is only considered to have been made when it actually reaches the offeree – see, by way of illustration, the decision in Adams v. Lindsell (1818) 1 B Ald. 681. (b) Consideration The element of consideration within a contract refers to that which is actually given or accepted in return for a promise as part of an agreement in the form of a â€Å"right, interest, profit or benefit accruing to one party, or some forbearance, detriment, loss, or responsibility given, suffered or undertaken by the other†, in keeping with the decision in Currie v. Misa (1875) LR 10 Ex 153. Consideration is executed when the act that is considered to constitute the consideration in a given case is performed and is deemed to be ‘executory’ when it is yet to be performed in the future. But regardless of this, any element of consideration must be legal, not be past, and move from the promisee to the promisor, supported by Lipkin Gorman v. Karpnale [1991] 3 WLR 10. (c) Acceptance The idea of acceptance relates to the idea of where an offer is made by one party that is considered to be acceptable to another without qualification in words or through conduct to the offeror in conformation with the indicated or prescribe terms of the offer that has been made, in keeping with the decision in Hyde v. Wrench (1840) 3 Beav 334. But it also must be recognised that it is possible to have an acceptance ‘subject to contract’ where the parties will only be bound where a formal contract is prepared and then signed, according to Chillingworth v. Esche [1924] 1 Ch 97. Moreover, the acceptance of goods within the remit of section 2 of the Sale Supply of Goods Act 1994 takes place when the buyer indicates to the seller that they have accepted them or, when they have been delivered, acts in a way that is considered to be inconsistent with the sellers ownership or retains them for a substantial period without rejecting them. (a) Counter Offer A counter offer is usually taken to refer to the occasions where the offeree makes a response that serves to effectively suggest that there is only likely to be an agreement on terms that are considered to be substantially different from those that were originally put forward. Therefore, with this in mind, this idea is perhaps best illustrated by way of a practical example – i.e. where Party A says to Party B â€Å"You can have my horse for  £10,000† and Party B thinks about this and then says â€Å"I like this horse, but I am only willing to go to  £8,000† that is effectively a counter offer that is also supported by the decision in Butler Machine Tool Co v. Ex-Cell-O Corp [1979] 1 WLR 401. (b) Invitation to Treat The idea of an invitation to treat is effectively based on the premise of an offer to receive an offer and whilst this principle of the law of contract was considered to have most famously been considered in the decision in Carlill v. Carbolic Smoke Ball Company [1893] 1 QB 256, it is important to appreciate that, in Fisher v. Bell [1961] 1 QB 394, Lord Parker most effectively served to summarise the concept. This is because of the fact that, in this case, he said that, by way of illustration, â€Å"the display of an article with a price on it in the shop window is merely an invitation to treat. It is in no sense an offer for sale, the acceptance of which constitutes a contract†. (c) The ‘Postal Rule’ As an important aspect of contractual theory, the ‘postal rule’ was an early nineteenth-century common law doctrinal development. Therefore, it served to hols an epistolary acceptance of a contractual offer will be said to become binding when it is put within the course of the postal service, according to Adams v. Lindsell (1818) 1 B Ald. 681, as the fairest method of allocating the risk, supported by Household Fire Insurance Co. v. Grant (1879) 4 Ex. D 216, and to avoid the revocation of the offer that was made leading to the acceptance until it was received, illustrated by the decision in Re Imperial Land Co of Marseilles (1872) LR 7 Ch App 587. Consequently, it is to be appreciated that a complete contractual agreement was said to exist when the properly stamped and addressed ‘letter’ is put in the course of postal transmission, supported by Henthorn v. Fraser [1892] 2 Ch 27, and beyond the power of the acceptor so it is immaterial whether it reaches the offeror or not, illustrated by Brogden v. Directors of the Metropolitan Railway Company (1877) 2 App. Las 666. Consequently, the ‘Postal Rule’ is usually considered to be somewhat advantageous for the offeree since they will not be responsible for delay because the burden of uncertainty of waiting is with the offeror. Whilst the Internet does not require a direct physical link between the users, it does allow the user to be notified if a message is successfully sent and/or received by another machine. But, whilst it is imperative for the user to re-send their message where it has not been successfully sent or received, in keeping with the decision in Entores v. Miles Far East Corporation [1955] 2 QB 327, intention to formulate e-contracts effectively is still open to debate, illustrated by Pretty Pictures Sarl v. Quixote Films Ltd (2003) All ER (D) 303. Such a view has arisen because the contract in such cases comes into existence where acceptance is received, supported by Brinkibon Ltd. v. Stahag Stahl Stahl warenhandelgesellschaftmbh (1982) 1 All ER 293. Therefore, generally, for revocation of acceptance of an offer to be effective in this area, revocation would take effect when it is communicated if they were considered to be revoking the ‘offer’ to take the goods, illustrated by Byrne v. Van Tienhoven (1880) 5 CPD 349. But this is not the case with ‘electronic contracts’ formed under the ‘postal rule’, so anyone contracting on this basis would need to be advised the acceptance of an offer is complete as soon as the acceptance is ‘posted’. However, there is some controversy in this area because such a revocation would usually in no way have prejudiced the offeror if they were to receive the revocation before the acceptance and the only direct authority is that of the troubling decision in Countess of Dunmore v. Alexander (1830) 9 S. 190 so the better view is that such acceptance is generally irrevocable, in keeping with Wenkheim v. Arndt (1873) 1 JR 73 (NZ). But statutory provisions have provided for a ‘cooling off’ period since the Consumer Credit Act 1974 with one of the most recent examples found in the Consumer Protection (Distance Selling) Regulations 2000. Therefore, on the basis of the Consumer Protection (Distance Selling) Regulations 2000, it is possible to cancel an order because the effective date of cancellation is when the cancellation is sent, but this is usually after acceptance has been received, making it difficult to resolve on the basis of how their contract was formed. The concept of ‘quasi-contracts’ generally arises in cases where the law imposes on someone an obligation, through the creation of another contractual arrangement, to make repayments on grounds of unjust benefit at the expense of someone else, in keeping with the decision in Shamia v. Joory [1958] 1 QB 448. Therefore, with this in mind, more specifically, in the case of building and construction contracts in particular, situations may arise where the party that is paying for the work may draft the contract to derive ‘money benefits’, illustrated by Twinsectra Ltd v. Yardley [2002] 2 WLR 802 and, on analogy, Westdeutche Landesbank v. Islington LBC [1996] 2 All ER 961, HL and may be considered voidable if they entered into it under duress or undue influence, supported by Barton v. Armstrong [1975] 2 All ER 465, PC. But if the contract is voluntarily acted upon, it must also be recognised that it will usually be considered to be binding, in keeping with the dec ision in Ormes v. Beadel (1860) 2 De GF J 333, unless it is voidable on grounds of restituion. Letter of Intent In the past, it has been argued a letter of intent could be considered to be akin to conditional contract, illustrated by British Steel Corporation v. Cleveland Engineering Co [1984] 1 All ER 504. But the success in this particular case can also be contrasted with the decision in Regalian Properties Plc v. London Dockland Development Corporation [1995] 1 WLR 212 where there was an unsccessful action for reimbursement of expenses incurred by a property developer regarding preparatory work in respect of a contract that also never materialised. Such a differing view is largely based on the fact that these cases are not analogous because, whilst one party, in British Steel Corporation v. Cleveland Engineering Co [1984] 1 All ER 504, requested the other to perform services and supply goods that would have been required under the expected contract, the costs that Regalian Properties Plc v. London Dockland Development Corporation [1995] 1 WLR 212 sought reimbursements for arose in an effort to put itself in a position to obtain and then actually perform the contract itself A breach of contract generally arises where there is a recognised failure or refusal by one of the parties to a contractual agreement to fulfil one of the obligations that have been imposed on them under the remit of that contract. Therefore, with this in mind, in such circumstances the contract will be discharged where the breach of contract in question has been found to lead to the innocent party to the agreement treating it as having been rescinded and also, where it has been found to have the effect of depriving one of the parties of the whole benefit of the agreement with undertakings still to be performed, supported by the decisions in Hong Kong Fir Shipping v. Kawasaki Kisen Kaisha [1962] 2 QB 26 and Photo Productions Ltd v. Securicor Transport Ltd [1980] AC 827. The concept of mistake in the context of contract law serves to negative, or to nullify, consent by preventing the parties involved from reaching agreement and nullifying consent where the parties reach agreement, according to Bell v. Lever Bros Ltd [1932] AC 161, HL. But it is also important to appreciate equitable remedies do not serve to distinguish between mistakes negativing, and nullifying, consent, as well as where a party who paid money seeks to recover it in restitution, illustrated by Kelly v. Solari (1841) 9 M W 54. However, mistake will not negative consent unless it is material to the agreement’s formation, according to Dennant v. Skinner Collom [1948] 2 KB 164. This is because, without the assent of both parties, in most cases each party will look as though they are assenting to the proposed terms; so the objective test will preclude any party from denying an agreement, supported by OT Africa Line Ltd v. Vickers plc [1996] 1 Lloyd’s Rep 700. Nevertheless, if one party is, to the knowledge of the other in a given case, mistaken as to the terms, evidence of subjective intention is admitted, according to LCC v. Henry Boot Sons Ltd [1959] 3 All ER 636, HL, so there will be no agreement in the objective sense and may be even no agreement at all, illustrated by Belle River Community Arena Inc v. WJC Kaufmann Co Ltd (1978) 87 DLR (3d) 761. However, it is also to be appreciated that there seems to be no reason why there should not be a subjective agreement where the other party is estopped, according to Alternative Publishing Ltd v. Kingstar Manufacturing (UK) Ltd [1996] CLY 1223, CA, and equitable remedies have been granted, supported by A Roberts Co Ltd v. Leicestershire County Council [1961] Ch 555. The concept of misrepresentation refers to the situation where a false statement of fact is made and is considered to be fraudulent if is is made either recklessly or with the intent to deceive, in keeping with the decision in Derry v. Peek (1889) 14 App Cas 337, HL, so anyone induced to enter a contract may then rescind the contract, claim damages or even both, according to S Pearson Son Ltd v. Dublin Corpn [1907] AC 351, HL. Moreover, it is also to be appreciated that a contractor induced to enter a contract by reason of an innocent misrepresentation may also rescind the contract or claim damages. Nevertheless, whilst the court has discretion to award damages in lieu of rescission, under section 2(2) of the Misrepresentation Act 1967, the measure of damages payable is generally the sum of money that placed the representee in the position they would have been in if the representation had not been made, supported by Gran Gelato Ltd v. Richcliff (Group) Ltd [1992] Ch 560. However, it must be recognised that a contractor who continues to act upon a contract after discovering a statement was false loses their right to rescind, accoridng to Long v. Lloyd [1958] 2 All ER 402, CA, so they will only be entitled to the price agreed under that contract, supported by Glasgow South Western Rly Co v. Boyd Forrest [1915] AC 526, HL. (c) Frustration It is also to be appreciated, however, that the doctrine of frustration has evolved so as to serve to mitigate the rigour of the common law’s insistence on literal performance of absolute promises, in keeping with the decision in J Lauritzen AS v. Wijsmuller BV, The Super Servant Two [1990] 1 Lloyd’s Rep 1, so as to be able to give effect to the demands of justice to escape from injustice where it would result from enforcement of a contract. Moreover, the concept of frustration also effectively ‘kills’ the contract and discharges the parties to any agreement from further liability under it, so the doctrine cannot be lightly invoked but must be kept within very narrow limits, since it brings the contract to an end forthwith, without more and automatically. Therefore, with this in mind, it must be recognised that the essence of frustration should not be the act or election of the party seeking to rely upon it, but due to some outside event or extraneous chang e of situation, without blame or fault on the side of the party seeking to rely upon it, supported by Kissavos Shipping Co SA v. Empressa Cubana de Fletes, The Agathon [1982] 2 Lloyd’s Rep 211. (d) Restitution It is also to be appreciated that, generally, where someone is found to have gained unjustly from another’s conduct, those gains should be returned as a result of, what may be considered apt in this context, for example, a breach of contract. Accordingly, by way of illustration, in the decision of Attorney-General v. Blake [2001] 1 AC 268, the defendant in this case had made a sizable profit from the act of breaching his contract with the claimant who was undoubtedly entitled to claim compensatory damages but had suffered little or no identifiable loss. Therefore, with this in mind, the claimant sought restitution for breach of contract and the defendant was ordered to pay over his profits although restitution is still only available in exceptional circumstances. Wrongful Termination Nevertheless, it is also to be appreciated that a wrongful termination does not ipso facto serve to amount to a repudiation of the contract, in keeping with the decision in ER Dyer Ltd v. Simon Build/Peter Lind Partnership (1982) 23 BLR 23. But then it must also be recognised that if the employer ousts the contractor from the site or otherwise shows an intention not to be bound by the contract, the contractor may claim the value of the work done and damages. Such a view has arisen on the basis of any instalment payments, supported by Bank of Boston Connecticut v. European Grain Shipping Ltd [1989] AC 1056, HL, together with payment at contractual rates or prices for work not already included, illustrated by the decision in Felton v. Wharrin (1906) 2 Hudson’s BC (4th Edn) 398, CA. Moreover, a reasonable sum will be assessed and payable as a contractual entitlement, with an abatement of the sum otherwise due if the work done is defective, according to Slater v. CA Duquemin Ltd (1992) 29 Con LR 24. Moreover, such an action may also lead to a claim for specific performance of the contract where it should not have been terminated, in keeping with the decision in Beswick v. Beswick [1968] AC 58, HL. As has already been alluded to, there are other kinds of contract outside of the business to consumer, or business to business, agreement that must be recognised. Therefore, with this in mind, it is to be appreciated that within these other concepts of contract, it must be recognised that construction contracts have certain principles that may be considered to very specific to this kind of contract aside from the general principles identifeid for all contracts. (a) Sub-contractors Quantum Meruit By sub-letting part of the work, it is important to appreciate that, within the context of a construction contract, the main contractor impliedly contracts with the sub-contractor that they will not prevent the sub-contractor from doing their work otherwise they will have a claim for damages against them, in keeping with the decision in British Steel Corporation v. Cleveland Engineering Co [1984] 1 All ER 504, under the principle of ‘Quantum Meruit’. However, it is also to be appreicated that the sub-contractor is also liable to the main contractor for defective work, as the relationship between them is similar to that of employer and contractor, supported by Aurum Investments Ltd v. Avonforce Ltd (in liquidation) Knapp Hicks Partners Advanced Underpinning Ltd (Pt 20 defendants) (2001) 3 TCLR 461. Therefore, this effectively means that where the sub-contractor is in breach and this has caused injury to a third party, they will be liable even if both have been held liable to the third party in tort, illustrated by Sims v. Foster-Wheeler Ltd [1966] 2 All ER 313, CA. On this basis, it must be recognised that the sub-contractor’s liability in contract may include damages and costs the contractor has had to pay to the third party, in keeping with the decision in Caister Group Developments Ltd v. Paul Rackham Construction Ltd (1973) 226 Estates Gazette 809. (b) Sub-contractors liability A construction contract is also considered to be particularly useful in such cases where, in breach of a contract, the sub-contractor then proceeds to delay completion of the overall work, having known at the date of contracting that the main contractor is liable to liquidated damages or forfeiture for delay, the liability of the sub-contractor to the contractor is increased, in keeping with the decision in Hadley v. Baxendale (1854) 9 Exch 341. Therefore, with this in mind, the main contractor will then be able to recover the damages they have had to pay out to the client owing to the delay caused by the sub-contractor, or profit they would have made, together with the cost of work, supported by Biggin Co Ltd v. Permanite Ltd [1951] 2 KB 314, CA. However, it is also to be appreciated that knowledge of the main contract is not sufficient to prove the sub-contractor agreed with the main contractor to be bound, so if the sub-contractor properly completes their work, their right to payment will not depend upon the certificate of the architect, notwithstanding it is a condition precedent to payment to the main contractor, in keeping with the decision in Southern Water Authority v. Carey [1985] 2 All ER 1077. But where the sub-contractor expressly contracts to be bound by the terms of the main contract, provisions as to retention money will be applied to them proportionally, supported by Geary, Walker Co Ltd v. Lawrence Son (1906) 2 Hudson’s BC (4th Edn) 382, CA. Nevertheless, it must also be recognised that a sub-contractor who voluntarily undertakes extra work or uses better materials than those stipulated has no claim, according to Ashwell Nesbit Ltd v. Allen Co (1912) 2 Hudson’s BC (4th Edn) 462. (a) Sale of Goods Act 1979 The remit of the Sale of Goods Act (‘SGA’) 1979 effectively applies to sale of goods contracts with its implied terms in relation to quality and fitness for purpose with regards to both business-to-consumer and business-to-business sale of goods contracts. But whilst, in view of the changes made by the SGA 1995, the standard covering issues such as freedom from minor defects and durability seems to have become quite high, this may, in fact, be something of a misnomer, according to, for example, Saphena Computing v. Allied Collection Agencies [1995] FSR 616. Moreover, there is an old legal maxim, ‘nemo dat quod non habet’, which means ‘no one can give what he does not have’, that was enshrined in the SGA 1979 long ago in 1893 so that if someone sells goods that are not there’s, or which they do not have the authority to sell, the buyer cannot acquire ‘good title’, so that the ability to pass property and the time of its passin g are very important. In looking to appreciate the significance of the Unfair Contract Terms Act (‘UCTA’) 1977, it must be recognised that, whilst, generally, the law of contract has created a range of ways for the individual terms of a contract to be avoided or ‘blunted’, the remit of UCTA 1977 is actually almost entirely focussed upon contractual provisions and notices that look to effectively limit or exclude liability, or its equivalent. As a result, whilst some of UCTA 1977’s controls apply universally and strike down particular terms unconditionally, other controls actually allow a ‘term’ to be effectively justified as ‘reasonable’, so a large business can still impose onerous terms, because there is no statutory protection provided for. This is supported by the fact courts in this country have also looked to apply principles to make contracts work, according to the principle established in G Percy Trentham Ltd v. Archital Luxfer Ltd [1993] 1 Lloyd’s Rep 25 at p.27 that â€Å"the transaction †¦ performed on both sides will also make it unrealistic to argue that there was no intention to enter into legal relations Specifically, the fact that the transaction is executed makes it easier to imply a term resolving any uncertainty, or alternatively, it may make it possible to treat a matter as not finalised in negotiations as inessential†. Therefore, with this in mind, each and every case that comes before the court in this country must be decided solely on the specifics of its facts and the construction of its agreement. As a result, some surprisingly draconian exclusion clauses have been upheld, supported by SAM Business Systems v. Hedley Co [2002] EWHC 2733, despite the fact English case law developed no general principle allowing terms apparently agreed by parties to a contract to be attacked solely on grounds of unfairness, illustrated by Mitsubishi Corp v. Eastwind Transport Ltd [2004] EWHC 2924. This is because, according to the Law Commission’s ‘Second Report on Exemption Clauses’ ((1975) (Law Com No. 69)), a contract term â€Å"bears its natural meaning of any term in any contract (and is not limited to terms in a contract between the instant parties)†. But it is also to be appreciated that a contract term or notice may amount to a contractual exclusion clause which is apt to exclude or restrict liability for breach of either a contractual or tortious duty of care, supported by Johnstone v. Bloomsbury Health Authority [1992] QB 333, or a disclaimer notice apt only to exclude or restrict tort liability, dependent on the nature of the contract (c) The Consumer Protection Act 1987 In keeping with this line of thought, it is also important to appreciate that the remit of the Consumer Protection Act (‘CPA’) 1987, between sections 10 and 19, supported by the decision in R v. Liverpool City Council, ex p Baby Products Association Ltd [2000] LGR 171, DC, has looked to effectively establish a system so as to be able to impose liability in relation to unsafe consumer goods and a standard of saftey that all maufacturers and retailers must look to comply with or risk committing an offence. Therefore, on this basis, the CPA 1987 has also served to establish that any breach of the safety regulations is an offence that not only provides a consumer with even greater scope to reject the goods, but also serves to give the Secretary of State the power to be able to serve prohibition notices. ‘Halsbury’s Laws of England’ Lexis Nexis, Butterworths (2007) Law Commission’s ‘Second Report on Exemption Clauses’ (1975) (Law Com No. 69) A Roberts Co Ltd v. Leicestershire County Council [1961] Ch 555 Adams v. Lindsell (1818) 1 B Ald. 681 Alternative Publishing Ltd v. Kingstar Manufacturing (UK) Ltd [1996] CLY 1223, CA Ashwell Nesbit Ltd v. Allen Co (1912) 2 Hudson’s BC (4th Edn) 462 Aurum Investments Ltd v. Avonforce Ltd (in liquidation) Knapp Hicks Partners Advanced Underpinning Ltd (Pt 20 defendants) (2001) 3 TCLR 461 Bank of Boston Connecticut v. European Grain Shipping Ltd [1989] AC 1056, HL Barton v. Armstrong [1975] 2 All ER 465, PC Bell v. Lever Bros Ltd [1932] AC 161, HL Belle River Community Arena Inc v. WJC Kaufmann Co Ltd (1978) 87 DLR (3d) 761 Beswick v. Beswick [1968] AC 58, HL Biggin Co Ltd v. Permanite Ltd [1951] 2 KB 314, CA Brinkibon Ltd. v. Stahag Stahl Stahl warenhandelgesellschaftmbh (1982) 1 All ER 293 British Steel Corporation v. Cleveland Engineering Co [1984] 1 All ER 504 Brogden v. Directors of the Metropolitan Railway Company (1877) 2 App. Las 666 Butler Machine Tool Co v. Ex-Cell-O Corp [1979] 1 WLR 401 Byrne v. Van Tienhoven (1880) 5 CPD 349 Caister Group Developments Ltd v. Paul Rackham Construction Ltd (1973) 226 Estates Gazette 809 Carlill v. Carbolic Smoke Ball Company [1893] 1 QB 256 Chillingworth v. Esche [1924] 1 Ch 97 Countess of Dunmore v. Alexander (1830) 9 S. 190 Currie v. Misa (1875) LR 10 Ex 153 Davies v. Sweet [1962] 2 QB 300 Dennant v. Skinner Collom [1948] 2 KB 164 Derry v. Peek (1889) 14 App Cas 337, HL Entores v. Miles Far East Corporation [1955] 2 QB 327 ER Dyer Ltd v. Simon Build/Peter Lind Partnership (1982) 23 BLR 23 Felton v. Wharrin (1906) 2 Hudson’s BC (4th Edn) 398, CA Fisher v. Bell [1961] 1 QB 394 G Percy Trentham Ltd v. Archital Luxfer Ltd [1993] 1 Lloyd’s Rep 25 Geary, Walker Co Ltd v. Lawrence Son (1906) 2 Hudson’s BC (4th Edn) 382, CA Glasgow

Why Marc Antony is a Round Character :: essays research papers

William Shakespeare wonderfully develops the character Marc Antony in his play Julius Caesar to be a round character. Round characters meaning a character that has many traits and isn’t predictable. Antony, who seems to not have many different traits at the beginning of Julius Caesar, really starts showing his real self after Caesar’s death. That also shows that he is unpredictable.   Ã‚  Ã‚  Ã‚  Ã‚  Antony’s monologues and soliloquies really help to show readers Antony as a round character. A few traits these soliloquies and monologues show are that he is manipulative and smart, yet also caring and loving. Other traits Antony shows include agreeable, but capable of being in charge; athletic; popular; and able to give recognition where it is deserved. Like most people, Antony has both bad and good traits, and his speeches reflect that.   Ã‚  Ã‚  Ã‚  Ã‚  The manipulative nature of Antony proves true two times. The first time is when Antony is speaking at Caesar’s funeral. Antony is manipulating the crowd by using pauses and by talking Brutus up. This is what Antony says in that instance, â€Å"Yet Brutus says he was ambitious; and Brutus is an honorable man.† (Act III, scene ii, lines 94-95) Antony is saying maybe Brutus is right because he says Caesar was ambitious, and Brutus is, in fact, a very honorable man. In another instance he says, â€Å"Have patience, gentle friends, I must not read it,† speaking of Caesar’s will. (Act III, scene ii, line 141) Antony is trying to get the people excited about the will, so they will tell him to read it by acting like he shouldn’t read it. The second time Antony shows that he is manipulative when he wants to change Caesar’s will. At that time Antony proves himself by saying, â€Å"But, Lepidus, go you to Caesar’s house; Fetc h the will hither, and we shall determine how to cut off some charge in legacies.† (Act IV, scene I, lines 7-9) Antony is telling Lepidus to go get the will so they can change it. Antony’s ability to be manipulative is well proven in these instances.   Ã‚  Ã‚  Ã‚  Ã‚  The loving side of Antony that allows him to give recognition where it is deserved is shown a few times. One time comes close after Caesar’s death. Antony says, â€Å"Thou art the ruins of the noblest man that ever lived in the tide of the times,† and it shows his love for Caesar by saying that the noblest man he ever knew was now dead.

What To Do About Ethnic Cleans Essay -- essays research papers

WHAT TO DO ABOUT ETHNIC CLEANSING? BACKGROUND PAPER   Ã‚  Ã‚  Ã‚  Ã‚  In 1994, unrest swept through the Maryland-sized African nation of Rwanda. Thousands of Hutu extremists launched a massive assault on the Tutsi, who traditionally make up Rwanda's upper class, killing hundreds of thousands of innocent people (Night Rider – 'most days';). The United States immediately responded to this slaughter by turning the other way, denying that a problem existed until years after the genocide had ceased. In 1999, ethnic cleansing (hostility between ethnic groups) broke out in Kosovo in a less severe form. This time, instead of being killed, the Kosovars were driven out of their homes and neighborhoods. This time, United States and NATO forces immediately confronted the problem by launching a substantial air war on the area. Clearly, the doctrine for ethnic cleansing is widely varied, and merits further discussion.   Ã‚  Ã‚  Ã‚  Ã‚  Ethnic cleansing is a 'phrase for an attempt to purge an area of an unwanted ethnic group. It can include deportation, intimidation, and acts of genocide or mass murder.'; (Encarta, 'Ethnic cleansing';). It occurs most frequently in third world countries. Whenever it arises, it is followed by a host of moral questions. Do we just stay out completely and allow the country to deal with its own problems? Or, if we decide to take action, do we merely send medical aid or help militarily? Should we send in the army? Or is an air war the only acceptable option? It all comes down to an ethical issue, with one group insisting that preventing the loss of lives is paramount. The other side states that ethnic cleansing is caused by a fundamental disagreement between two ethnic groups, so unless we allow the groups to resolve their own issues, they can never be content and productive.   Ã‚  Ã‚  Ã‚  Ã‚  Whenever any human rights issue breaks out, there are differing opinions on the appropriate course of action. The difference in the case of ethnic cleansing is that this issue is much more critical than almost any other human rights issue. In the case of ethnic cleansing, the United States' approach to intervention could determine the fates of thousands of people. In cases of extreme ethnic cleansing, intervention can take place on an international level, with many nations cooperating in an attempt to br... ... not affect its neighbors adversely. This middle ground supports certain parts of both sides. It believes that while the country should be allowed to conduct its own internal affairs as it sees fit, as soon as the conflict oversteps the nation's borders, we must intervene to prevent the trouble from spreading as it did during the holocaust.   Ã‚  Ã‚  Ã‚  Ã‚  At the present moment, the pro-action side is most influential in determining strategies for dealing with ethnic cleansing. This is illustrated by the Kosovo conflict. Only a few years previously, the anti-action approach was in favor; no outside intervention occurred during the Rwandan genocide. No predictions forecast an end to the issues of ethnic cleansing. As long as distinction can be made between groups, that distinction will be made, and as long as that distinction is made, there will be a few warmongers who will take advantage and cause bloodshed. Although the madness of a few people will not always spread, once in a while it will go out of control, leading to a massive genocide such as in Germany and Rwanda. And when there is another massive wholesale destruction, what will the world powers do about it?

Legalizing Marijuana Essay -- Addiction, Drug, Marijuana, Weed

Some people say that Marijuana is not additive, some say it is. If it’s known to be both then how can people really know how it affects the body? On an interview with Elvis Duran and the morning show Lady Gaga admitted that she was addicted to marijuana. She was doing 15 joints of marijuana without tobacco in them every day. In Lady Gaga’s life she has been addicted to some type of drug from a young age. She used the analogy of Lilly pad drugs. She would get to the point where she couldn’t go any further with one substance so she would have to go to the next substance. She started doing marijuana on a tour because she was in a lot of pain; she was in so much pain that she was getting depressed. Lady Gaga said that looking back she can see that the pain was her hip, but at the time she didn’t know where it was coming from. She also said that it was to help with her anxiety. She started doing marijuana to stop the pain she would do the drug in the morning an d then sleep it off in the afternoon; she said that she would never do a show high. She decided to speak about it so young people are aware that addiction to the drug is possible, and not a myth. (Wall Street Journal n.p) Marijuana or Cannabis —often called pot, weed, or herb—is a greenish-gray mixture of the dried, shredded leaves, stems, seeds, and flowers of Cannabis sativa—the hemp plant, has been used as an instrument to achieve euphoria, a feeling or state of intense excitement and happiness, since ancient times. Marijuana has been traced back to the Chinese, dating from 2737 B.C.. From there it went to India to North Africa and then reached Europe around the time of 500 A.D.. In the record of the Chinese emperor Shen Nung the use of marijuana was for medication for rheuma... ... he said â€Å"I would caution against this assumption[that marijuana is the most effective drug for medical purposes] due to the lack of consistent, repeatable scientific data available to prove marijuana's medical benefits.† Works Cited Wall Street Journal. "Lady Gaga Says She's Addicted to Marijuana." YouTube. YouTube, 13 Nov. 2013. Web. 02 Dec. 2013. "DrugFacts: Marijuana." National Institute on Drug Abuse (NIDA). N.p., Dec. 2012. Web. 06 Dec. 2013. Messerli, Joe. "BalancedPolitics.org." - Legalization of Marijuana-Advantages & Disadvantages. Balanced Politics, n.d. Web. 03 Dec. 2013. "History of Marijuana." Marijuana History. Narconon International, n.d. Web. 03 Dec. 2013. "Pros and Cons - Medical Marijuana." ProCon.org Headlines. ProsCons.org, 6 May 2009. Web. 06 Dec. 2013. "Pro's of Marijuana Legalization." MarijuanaToday.com. N.p., Aug. 1010. Web. 07 Dec. 2013.

Food Memoir Essay

During my early twenties, I developed a passion for cooking. The deeper I delved into the art of cooking quality food, the more I realized the amalgamating properties it held. Little did I know, this hobby was something my new wife Jenn and I did not share. The first indication that there might be a problem in the kitchen occurred with a simple request one evening after work: â€Å"Honey, I would like some bacon,† I said. To my astonishment, my bride declared, â€Å"I don’t know how to cook bacon, I don’t even like bacon! † I knew this woman for seven years—my high school sweetheart—and I never knew she didn’t like bacon. â€Å"Who doesn’t like bacon anyway? It’s un-American! † I said. No wife of mine would ever dislike bacon. And even if you didn’t like it, how could you not know how to cook it? Exasperated, I explained how you begin with a cold pan, as not to scorch it. I continued, showing her how not to overlap the bacon, but not to leave too much space either. The conversation continued and I took jabs where I could. She contended that she did not like bacon because of its texture; I argued it was because she did not know how to cook it right. I couldn’t really blame her though, she came by it honestly. My mother-in-law cannot cook—at all. She has a rotation of three to four meals that come from a can or a package. Hamburger Helper was commonplace growing up in that house. A simple meal such as spaghetti is a botched experiment in â€Å"homemade cooking. † Her recipe consists of un-doctored, canned sauce poured onto over-cooked, mushy noodles, that she stirs the entire time they are boiling. Sometimes, she’ll even add a couple of frozen meatballs from a bag. To our delight, most of our meals with the mother-in-law take place in a restaurant, where it’s safe. We are able to enjoy the occasion of food and family, while actually being able to stomach the food. It is the aforementioned reasons that my wife could not cook when we first got married; she simply was not taught or even exposed to the practice of cooking. She was also rather close-minded when it came to new things. After-all, Hamburger Helper only came in so many varieties. It was up to me to change all this—to teach her to cook, and open her mind to new flavors. I grew up with real home-cooked meals. My dad, now an engineer, was once the chef at a local restaurant in our hometown of Marion, Illinois. He imparted in me an appreciation for real food, and dispelled the myth in my mind, that â€Å"mom† was responsible for putting dinner on the table. Years later, dad is a still a major influence in my relationship with food, which in turn strengthens my relationship with him. For the past ten years, going to dad’s house for Sunday dinner has been tradition—first me, then my wife, and now our three children. Dad and I haven’t always seen eye-to-eye on certain things, but there is an emulsifying, unifying power that quality food possesses, that helped heal our relationship. Even before the modern days of Sunday dinner began, my dad was my inspiration to learn to cook, and I aspire to be the same for my children. One factor that enhanced my appreciation for cooking was the time I spent in my early twenties watching the Food Network. There, I watched Emeril Lagasse cook up his latest masterpiece with a â€Å"BAM! † I attempted to emulate many of his dishes, some even with success. It was in this time period that I actually began to develop some culinary skill. My mother was my faithful and willing test subject. Her only complaint was the disaster I left in my wake. I could cook, but would somehow manage to destroy the entire kitchen in the process. One of my favorite dishes I picked up in this time period was a simple bologna recipe I picked up from Emeril, which became an oft-requested Super Bowl staple. Emeril’s Favorite Brown Sugar-Crusted Baked Bologna1: An all-beef bologna, smothered in Dijon mustard and brown sugar, and slow-cooked for five hours. The resulting deliciousness is served on fresh, white bread with yellow mustard. I never would have thought bologna could become gourmet, and it was with this dish I learned it is often the simpler recipes that have the most impact. This taught me that delicious cuisine doesn’t necessarily take hours of preparation alongside fancy ingredients. Sometimes, all a simple recipe needs is a creative twist to turn it into something incredible. It took some time, but Jenn came around. The more I encouraged her to try new things, the wider her horizons became. She began to cook, and found she was actually a natural in the kitchen. And how did I finally get her to eat bacon? While she was pregnant with our first son, she would eat anything. I would come home from work to find family-size boxes of macaroni and cheese decimated. I knew this was my chance. I started sneaking bacon into dishes, and onto sandwiches—anywhere I remotely thought I could fit it in. Lo and behold, she found she actually liked it! Now that we both have a healthy appreciation of cooking, we keep a strong focus on it in our day to day lives. Despite our busy schedules, it is a priority of ours to eat together as a family whenever possible. Because of our passion for a unique blend of health and great taste in our diets, our children are always trying, and usually liking, new foods. We can already see in them an appreciation for good food, and an affinity for family meal time. What’s the number one request for just about any meal? Bacon, of course.