World War II in Japan Essay Example for Free

World War II in Japan Essay A case of implementation of import substitution industrialization can be examined with the help of the example of Brazil. Brazil was the country which carried the policy of import substitution industrialization later than other underdeveloped countries. The economists in Brazil carefully analyzed its effects and were planning the industrial development of the country while the other countries started import substitution mainly by accident. It is important to note that Brazil initially had all the chances for success in the policy of import substitution, since its population goes up to 170 million, which makes Brazil the fifth largest country in the world. Also Brazil is the fifth largest country by its land area. And finally, Brazil is rich in forest reserves, minerals, navigable rivers agricultural land, and hydroelectric capability. The development of Brazilian economy in the period from 1950 to the 1970s confirmed the most optimistic views. Brazil with its rich resources and reserves was called â€Å"the land of the future†. In 1950 Brazil attempted to establish the largest industry of motor vehicle having practically no sufficient basis. Thirty years later aircraft of Brazil were working on commuter airlines on the United States. Brazilian shoes spread everywhere. Moreover, Brazil opened up the richest iron mine in the world and Brazilians found out the capital city on the place where previously had been a roadless jungle and built the network of roads going deep into Amazon. When the oil prices rose and began threatening the development of Brazil economy, Brazilians launched huge hydroelectric projects to operate the growing industries of the Golden Triangle, which included Sao Paulo Rio de Janeiro, and Belo Horizonte and required the new automobiles to run on rum instead of gasoline. At the beginning of the 1980s even pessimists agreed that Brazil was â€Å"the country of future†, however added â€Å"and always will be†. The growth of Brazil stopped, when it was almost close to ripening. The modern cities in Brazil coexist together with miserable shanty-towns surrounded with open sewers. The roads are shared by modern vehicles and hand carts. The wages of Brazilian executives are the highest in the world, but at the same time average workers hardly reach subsistence level. Some economists call Brazil a Switzerland within an India. Other economists consider that the case of Brazil brightly illustrates economic growth without economic development. Economist Celso Furtado characterized the state of Brazilian economy in the following way: â€Å"The Brazilian economy constitutes a very interesting example of how far a country can go in the process of industrialization without abandoning its main features of underdevelopment: great disparity in productivity between urban and rural areas, a large majority of the population living at a physiological subsistence level, increasing masses of unemployed people in the urban zones, etc. † By the 1950s the industrial development by means of import substitution had been already a planned process in Brazil. New industries were protected from the foreign competition with the help of a number of methods. Basic industries (for example, steel, electrical power, petroleum reining) became either fully owned by state or received direct subsidies. Law of Similars aimed at putting high tariffs (sometimes tariffs went up to 300%) on imported goods as soon as any domestic firm somewhere in Brazil started manufacturing something ‘similar’. The industries considered high priority always could be credited under favorable terms by a national development bank. For some period of time, the government even set multiple exchange rates in order to lower the cost of imported capital equipment while the price of imported finished goods was kept expensive. One of the growing Brazilian industries in the mid of twentieth century was motor vehicles. The government hoped that foreign financing would help to expand Brazilian firms which were already producing motor parts, bus bodies, truck and so on and soon would turn them into real vehicle manufacturers. But this approach had to be changed for the government of Brazil faced the reluctance of American government to extend loans and the disapproval of the firms from Europe and the USA who owned a critical technology. The world famous giants Fiat General Motors, Mercedes Volkswagen, and Ford were threatened to lose their markets in Brazil if they did not manufacture vehicles within the country. It is important to note that modern manufacturing, in particular the production of appliances, motor vehicles, TVs and so on is a complex process that requires substantial knowledge and skill. Final assembly became possible in Brazil since it was the last stage of production and required the least skill. So, launching modern industries Brazil could start with final assembly and gradually came to more complicated â€Å"backwards†, which included more difficult procedures. For example, Volkswagen could start importing complete parts, such as engines, wheels etc. and assemble them in Sao Paulo plant. The tariffs allowed Volkswagen to sell 1960 30% Brazilian Beetle for twice what Europeans would pay even if the quality was not that high. Eventually, most of the parts became produced in Brazil and the quality of assembly improved. Gradually, the competition from Brazilian Fiats, Fords, and Chevrolets pushed the price down. In this way, Brazilian motor vehicle industry became more and more efficient and even in the 1970s Brazil exported subassemblies and parts to America and to the European countries. By 1980 Brazil started exporting entire vehicles. When import substitution industrialization was implemented in Latin America, the drawbacks of the policy soon revealed themselves. In Brazil as well as in other Latin America countries import substitution model led to foreign ownership in all the sectors in industry except those occupied by state enterprise. When the interests of foreign firms were threatened by Brazilian taxes, environmental or labor legislation, American, German, Italian, British Japanese or French owners were quick to call on their state departments. In particular, the Department of the United States defined one of its key objects as establishing favorable business climate. This meant undermining Brazilian government. Thus, in 1964 some Brazilian generals, being encouraged by American officials, made an attempt to overthrow constitutional government of their country. Another drawback of import substitution industrialization revealed in the fact that this policy led to huge foreign debts. It was not accidental, that Brazil and Mexico ran into debts in order to cover the expenses of their infrastructure development. The development of infrastructure needs a large number of hard currency imports. If infrastructure grows and increases exports together with hard currency earnings, a country can borrow in dollars. Then, under such condition, the country has to earn dollars in order to make the interest payments. But import substitution requires borrowing in dollars for the purpose of economic development of the domestic production that will not necessarily expand exports. By the end of the seventies the countries of Latin America faced the problem: Where to go next? And the next logical step was to export the goods which had been already produced efficiently. By the middle of the eighties Brazil became the largest exporter of shoes and coffee, among ten major exports to America, six were manufactured projects. Nevertheless, the expansion of manufactured goods made Brazilian economy vulnerable to retaliatory tariffs. Moreover, in the 1980s Brazil as well as other underdeveloped countries of Latin America did not manage to pursue the next layer of import substitution ( in particular, microchips, computers, capital equipment), although they attempted to create open markets for their manufactured consumer goods. Unlike the nations of Latin America, the majority of East Asian nations rejected the policy of import substitution industrialization. Due to this, as many economists think, East Asia had its superior performance in the seventies and the eighties of the twentieth century. Generally speaking, the Asian growth had started before World War II in Japan. The process of Asian growth included three groups of countries whose economic â€Å"miracle† began at different times:

farming :: essays research papers

Farming I am doing my paper on farming because that is my job and the pay gets s me through college. Farming is a very important and a very hard job at times. A lot of farmers don’t get much credit for all the work they do and they don’t get much pay for it either. When most farmers grow in age they start to get crippled and start to get arthritis. All farmers have a few stories about their experiences on the farm. I am going to tell you about some of mine and some of my boss’s. The other things I am going to wrote about in this paper is some of the equipment we use, the number of cows he milks, the animals he has on his farm, stuff about his family and himself. The farm I work at is located by Gilman, Wisconsin. It is one of the biggest farms in that area. The farm that I work on is owned by Earl Oberlin. He is fifty-five years old and has been farming for more than twenty years; before he started farming he haled gravel for a place called Olympics Trucking. He worked there for ten years and really didn’t like it a hole lot. He has four kids and there are three boys and one girl. He has been married for about twenty-five years and his wife is an Elementary Pry. Ed. teacher G-man. The names of his kids are Shauna, Dave, Chad, Dinettes, and his wife’s name is Mrs. Obverse. He started out milking cows with just pipe line and regular milers. Now he uses automatic take off millers and that is lot easier on his back that is why he said he got them. He uses seven milers while he only milks about sixty-four cows and that only takes us on a good day about an hour in a half. Earl owns about three hundred and fifty acres of land at this point and most of it is farmland that he uses for crops. He has Twenty calves and twelve heifers in his barn right now. Some of the machines that he uses are a TMR mixer that mixes all of the feed for the cows up and there is an elevator that comes off the end of the mixer and puts it in the bunk were the cows go to eat it.

Traco vs Arrow

After a bench trial, the trial court held for Arrow solely under the theory of promissory estoppel and awarded Arrow Judgment against Traco for damages in the amount of $ 75,843. 38, plus attorneys' fees and prejudgment interest. Issue Appellant supplier sought review of a Judgment from the 45th District Court of Bexar County (Texas), awarding appellee subcontractor damages, plus attorneys' fees and prejudgment interest, in an action brought for promissory estoppel and negligence for appellant's failure to supply glass doors at the quoted price.Rule The court affirmed the Judgment of the lower court in favor of appellee subcontractor, finding that promissory estoppel was a viable cause of action in a bid construction case. The court found that the award of damages based on this theory was factually supported by the evidence, and that there was statutory authority for the award of attorneys' fees. The determination of the rate of prejudgment interest also was proper. Analysis Appellan t initially argues that the trial court erred in rendering Judgment for Arrow ecause Traco's bid was revocable and properly withdrawn thirty days after it was made.Appellant primarily relies upon the argument that its sliding doors are goods as defined by the Texas Business and Commerce Code, therefore, S 2. 205 of this code is controlling. Nevertheless, appellant's arguments ignore the appellee's basic contention and legal theory under which this suit was brought. Appellee sought relief under the equitable doctrine of promissory estoppel on the premise that appellant's romises, by way of its oral bid, caused appellee to substantially rely to its detriment.Consequently, appellant's assertion that its subsequent letter confirming this bid somehow invokes the application of the Uniform Commercial Code ignores the fact that the appellee relied to its detriment when it reduced its bid based on a telephone conversation with the appellant, prior to the time appellant's confirmation letter was sent or received. Thus, any subsequent written document is irrelevant to Arrow's cause of action; appellant's first point is rejected.Having resolved that the Uniform Commercial Code does not apply under these facts, we must now resolve whether the equitable theory of promissory estoppel applies to bid construction cases and, if so, whether this doctrine applies under the specific tacts ot this case . While no Texas case has previously applied the theory of promissory estoppel in a bid construction case, other Jurisdictions have consistently applied this doctrine under similar facts, recognizing the necessity for equity in view of the lack of other remedies. Conclusion also was proper.

Cyber Terrorism and Cyber Crime - Free Essay Example

Sample details Pages: 8 Words: 2423 Downloads: 8 Date added: 2017/09/23 Category Advertising Essay Type Argumentative essay Tags: Crime Essay Terrorism Essay Did you like this example? CERTAINTY OF CONTRACT There are two aspects to the issue of uncertainty. (1) The language used may be too vogue in which case, the court is likely to hold that there is no concluded agreement , the contract is void for uncertainty. (2) Failure to reach agreement on a vital or fundamental term of an agreement. SECTION 30 1. Agreements, the meaning of which is not uncertain, or capable of being made certain, are void. * If A agrees to sell to B ‘a hundred tons of oil’ , there is nothing whatever to show what kind of oil was intended and thus , the agreement is void for uncertainty. . Where the meaning is unclear but it is capable of being made certain, the agreement is not void for uncertainty. * A agrees to sell to B ‘one thousand gantangs of rice at a price to be fixed by C’. As the price is capable of being made certain, there is no uncertainty here to make the agreement void. KARUPPAN CHETTY v SUAH THIAN In Karuppan Chetty v. Suah Thian (1916) 1 F. M. S. L. R. 300 , the contract was declared void for uncertainty because the parties agreed to lease of $35 per month ‘for as long as he likes’. The terms are uncertain as the duration of the lease is not specified or capable of being made certain. Free Consent To form a valid contract, it is important that parties agree to contract freely and without any form of force or external influence which clouds a person’s mind. SECTION 10 * All agreements are contracts if they are made by the free consent of parties competent to contract, for a lawful consideration and with a lawful object are not hereby exspressly declared to be void Free consent is the basis of a contractual relationship. There must be a meeting of the minds as to the nature and scope of the contract, a consensus ad idem. The consent of the parties must be given freely and voluntarily. SECTION 13 * Two or more persons are said to consent when they agree upon the same thing in the same sense. S ECTION 14 * Consent is said to be free when it is not caused by: coercion undue influence fraud misrepresentation mistake EFFECT OF VOID AND VOIDABLE CONTRACT * According to section 2 (g), an agreement not enforceable by law is said to be void. When the agreement is void, no rights are given to the parties, and no obligations are imposed on them. * An agreement which is void has no legal effect ab initio * According to section 2 (i) states that an agreement not enforceable by law at the option of one more of the parties thereto, but not at the option of the other or others, is a voidable contract. * In a voidable contract, one of the parties is given the choice, either to continue the contract or to discontinue the contract. The agreement is valid and binding until the party who is entitled to rescind the contract chooses to do so. * When the party who is entitled to rescind a voidable contract exercises his option to rescind the contract, the consequence is as stated in: SECTI ON 65 * When a person at whose option a contract is voidable rescinds it, the other party thereto need not perform any promise therein contained in which he is promisor. The party rescinding a voidable contract shall, if he has received any benefit thereunder from another party to such contract, restore he benefit so far as may be, to the person from whom it was received. * On the other hand, the consequence of a void contract is stated in: SECTION 66 * When an agreement is discovered to be void, or when a contract become void, any person who has received any advantage under the agreement or contract is bound to restore it, or to make compensation for it, to the person from whom he received it. * If the contract is void, there is no option to proceed with the contract. The contract must come to an end and whatever benefits received therefrom must be restored to the party who gave the benefits. COERCION * According to the section 15, coercion is the committing, or threatening to c ommit any act forbidden by the Penal Code, or unlawful detaining or threatening to detain any property. * Examples of an act forbidden by the Penal Code are causing grievous hurt, kidnapping, criminal force and assault, rape. The effect of a contract entered into as a result of coercion is that the contract is voidable. According to the section 19 (1), when consent to an agreement is caused by coercion, fraud, or misrepresentation, the agreement is a contract voidable at the option of the party, whose consent was so caused. KESARMAL/O LETCHMAN DAS v VALIAPPA CHETTIAR A transfer of property which was made under the order of the Sultan, issued in the ominous presence of 2 Japanese officers during the Japanese occupation of Malaysia was held to be not valid. This is because, the consent given was not free and therefore the transfer became voidable at the will of the party whose consent was so caused. UNDUE INFLUENCE * This happens where one of the parties to a contract, entered i nto such contract by influence of the party who was able to influence him. SECTION 16 (1) A contract is said to be induced by â€Å"undue influence† where the relations subsisting between the parties are such that one of the parties is in a position to dominate the will of the other and uses that position to obtain an unfair advantage over the other. RAGUNATH PRASAD v SARJU PRASAD In this case, the court held that 3 matters are to be dealt with under: SECTION 16 (3) The relations between the parties to each other must be such that one is in a position to dominate the will of the other * The issue whether the contract has been induced by undue influence * The burden of proving that the contract was not induced by undue influence lies upon the person who was in a position to dominate the will of the other PRESUMPTION OF DOMINATION * In certain circumstances, a party is deemed by law, to be in position to dominate the will of another SECTION 16 (2) (a) and (b) In particular and without prejudice to the generality of the foregoing principle, a person is deemed to be in a position to dominate the will of another: * Where he holds a real or apparent authority over the other, or where he stands in a fiduclary relation to the other * Where he makes a contract with a person whose mental capacity is temporarily or permanently affected by reason of age, illness, or mental or bodily distress * By virtue of section 16 (2) (a) and (b) there are 3 situations in which the law presumes domination of will to exists: * When one party holds a real authority over the other Where one party stands in a fiduclary relationship to the other * Where a party makes a contract with a person whose mental capacity is temporarily or permanently affected by reason of age, illness or mental or body distress * In such situations, the plaintiff does not have to prove the contract being unconscionable * If the dominating party claims that there is no domination of will, the burden to rebut the presumption of domination lies on him by giving evidence to the court * The effect of undue influence in a contract is that the contract is voidable as stated: SECTION 20 * when consent to an agreement is caused by undue influence, the agreement is a contract voidable at the option of the party whose consent was so caused. Any such contract may be set aside either absolutely or, if the party who is entitled to avoid it has received any benefit thereunder, upon such terms and conditions as the court may seem just. SALWATH HANEEM v HADJEE ABDULLAH The plaintiff’s husband made a conveyance of property belonging to himself and the plaintiff to his brother’s B and C. The plaintiff initially agreed to the conveyance but after her husband’s death, she brought an action seeking to set aside the agreement on the ground of undue influence. It was held that a confidential relationship existed between the plaintiff and B and C. Therefore the burden of proof was on B and C to show that the plaintiff fully understood the agreement and had agreed to the conveyance freely and without being subject to undue influence. Since both B and C failed to discharge the burden, the contract of conveyance was set aside. FRAUD * According to the SECTION 17 is includes any of the following acts committed by a party to a contract, or with his connivance, or by his agent, with the intent to deceive another party thereto or his agent, or to induce him to enter to the contract. DERRY v PEEK It was decided by the court in this case that fraud is proven when it is shown that false representation has been made either: * Knowingly * Without belief in its truth * Recklessly, careless whether it be true or false ELEMENTS OF FRAUD * There must be a false representation The representee must have relied on the repsentation WEBER v BROWN Plaintiff sued Defendant for damages in respect of an alleged false and fraudulent misrepresentation relating to the number of rubber tress on an estate which he purchased. The number of trees represented was more than that which actually existed on the estate. It was that the Defendant had made the alleged misrepresentation falsely and fraudulently MISREPRESENTATION * It is a false statement made by the representor, and which such false representation induces the other party to enter into a contract. According to SECTION 18 misrepresentation includes: * The positive assertion, in a manner not warranted by the information of the person making it, of that which is not true, though he believes it to be true * any breach of duty which, without intent to deceive, gives an advantage to the person committing it, or anyone claiming under him, misleading another to his prejudice, or to the prejudice of anyone claiming under him * causing, however innocently, a party to an agreement to make a mistake as to the substance of the thing which is the subject of the agreement ELEMENT OF MISREPRESENTATION * There must be false representation, either through a positive statement or some conduct * The representation must be one of fact, not a mere expression of opinion * The statement was addressed to the party mislead * The representation must induce the mislead party to enter into the contract * The party misled must prove that he was induced by the representation * He cannot be said to have been induced by the representation did not influence his mind at the time of entering into the contract or he was aware hat the statement was untrue. EXPLANATION SECTION 19 A fraud or misrepresentation which did not cause the consent to a contract of the party on whom the fraud was practiced, if the representation to whom the misrepresentation was made, does not render a contract voidable. ILLUSTRATION (b) to SECTION 19 A, by a misrepresentation, leads B erroneously to believe that 500 gantangs of indigo are made annually at A’s factory. B examines the accounts of the factory, which show that only 400 gantangs of indigo have been made. After this, B buys the factory. The contract is not voidable on account of A’s misrepresentation. * The effect of misrepresentation in a contract is that the contract becomes voidable as provided in SECTION 19 (1) * If the mislead party chooses to affirm the contract, he is entitled to damages as provided under SECTION 19 (2): * A party to a contract whose consent was caused by fraud or misrepresentation, may, if he thinks fit, insist that the contract shall be performed, and that he shall be put in the position in which he would have been if the representations made had been true. MISTAKE SECTION 21 * Where both the parties to an agreement are under a mistake as to a matter of fact essential to the agreement, the agreement is void. For a mistake to be operative under this section, it must be mistake of both parties and it is as to a matter of fact essential to the agreement * The basis for rendering agreements void under SECTION 21 is that th ere has been no free consent between the parties * Mistake can either be mutual mistake or unilateral mistake * SECTION 21 covers mutual mistake : both parties to an agreement are under a mistake * Mistake of fact essential to the agreement may occur in the following circumstances : a) Mistake as to the existence of the subject matter of the contract * Both parties are unaware that the subject matter of the contract has ceased to exist A agrees to buy from B a certain horse. It turns out that the horse was dead at the time of the bargain, though neither party was aware of the fact. The agreement is void. b) Mistake as to the identity of the subject mistake * Both parties are at cross-purpose, therefore, in fact, there is no agreement on the same thing in the same sense and in other words, no consent RAFFLES v WICHELHAUS 2 parties contracted for a sale of a cargo of cotton arriving in London by a ship called â€Å"The Peerless† sailing from Bombay. But unknown to both parti es, there were 2 ships of the same name leaving from Bombay at different times. They were both negotiating under a mistake and had in mind different ships, It was held that the contract was void for mutual mistake. c) Mistake as to the possibility of performing the contract BROTHERS LTD v OCHSNER SHEIKH The appellant granted to the respondent, licence and authority to contract and manufactured all sisal growing on 5000 acres of land in Kenya, and to deliver to the appellant 50 tons per month of sisal fibre for sale. Respondent was then unable to do so as the leaf potential of the sisal was not sufficient to produce that much. It was held that there was a mistake as to the possibility of performing the contract. The agreement was void. MISTAKE AS TO DOCUMENT The general rule is that a person is bound by the terms of the contract that he signs as laid down in an English case: L’ESTRANGE v F. GRANCOLS. SUBRAMANIAM V REKNAM The defendant had signed a written acknowledgement in the English language of a loan when he was ignorant of the language. The court applied the general rule that he is bound by what he signed, seeing that there was no fraud or misrepresentation. Don’t waste time! Our writers will create an original "Cyber Terrorism and Cyber Crime" essay for you Create order