Literary analysis Essay Example | Topics and Well Written Essays - 1000 words - 1

Literary analysis - Essay Example When reading a poem such as â€Å"A Song on the End of the World† by Czeslaw Milosz, one has the option of learning the history behind the poem since the poem makes sense either way, but a great deal more meaning can be gleaned from it when history is taken into account. The poem presents a picture of what seems to be a very peaceful day. The author shows his readers the insects drifting over the flowers, the daily peaceful activities of the people as they mend nets, take leisurely walks, sell vegetables, consider napping on a green lawn, tend to their gardens and play music that greets the night time sky. Animals are present too as the birds play in some remnant rain water, a snake moves through the area and â€Å"happy porpoises jump in the sea† (4). There is nothing overly aggressive or threatening in the scene presented other than the author’s assertion that this is the day the world ended. In presenting these descriptions, the author works to use as few abstract terms as possible, giving the reader a sense that he is being very specific as to his subject. However, this is somewhat misleading as it becomes clear that none of these actions, each an indication of a quiet, small-town lifestyle, provide any specific detail as to where these actions are taking place. The closest he comes to providing actual specifics as to location is when he points to a â€Å"yellow-sailed boat† that â€Å"comes nearer the island† (11). The porpoises are ‘happy’, the bee ‘circles’ and the people are ‘disappointed’, but each of these abstract terms are given specific definition by their context within the poem. This confines the reader on the page and within the vision the author is bringing forward. The way in which Milosz wrote this poem seems to discourage people from looking beyond the text of the poem itself for meaning. Although some abstract terms are used, as has been discussed, they are used in specific ways that seem to

Facilities Planning Essay Example for Free

Facilities Planning Essay * To understand the basic fundamentals and importance of Facilities as applied in the Small or Medium-Scale Manufacturing industries * To understand and apply the concepts of product and process design in terms of MANUFACTURING * To develop alternative materials in to yield cost-reduction and productivity * To understand and apply the concepts of evaluating, selecting, preparing, presenting, implementing and maintaining the workplace and formulate preventions and propose improvements. * To conduct improvements in product mix and design; processing and materials technology; handling, storage, and control technology; production volumes, schedules, and routings, and Management philosophies. * To come up with assessment, findings, analyses and recommendations on how to quickly respond to varying customer requirements. * To propose changes whether in the process, methods, or materials with the end view of improving the reduction of work-in-process and just-in-time manufacturing REVIEW OF RELATED LITERATURE Machines Can Only Produce as Efficiently as the People Who Operate Them Summary: U.S. manufacturers are making a strong effort to gain back some of the consumer loyalty lost to their foreign competitors, who since the late 70s have been offering American consumers higher quality products at lower costs. U.S. companies believed that foreign competitors were able to achieve more efficient production through technological advances, when in fact the competition abroad was actually achieving increased production by relying on more productive people, not machines. Addressing this misconception, U.S. manufacturers have begun to concentrate efforts on making people more productive and machines more user friendly. Manufacturers are beginning to realize the best way to improve quality and increase efficiency is through better training and more informed operators. A person who is given a clear directionà ¯Ã‚ ¿Ã‚ ½ as to what the corporate objectives are for his or her function, as well as responsibility and authority, will produce a far superior product than a person who has no ownership in their job. There is no one better equipped to improve a process than the person working closest to it. Modernizations have reduced the overall number of machine operators, a greater majority of those remaining are being asked to take a more responsible and participatory role in the manufacturing control process. Rather than being blindly driven by new manufacturing technologies, companies are demanding better ways for operators to interact with their machines or processes. Operators are being asked to become managers, to be more involved in the decision-making process, they are being trained to use tools designed to determine whether the manufacturing process will result in a quality product. Effectively operators need fast access to accurate data. Since the operator workstation is at the heart of each manufacturing information system, the concentration has been to make workstations more responsive. Operators are demanding higher levels of information presentation in their workstations, so design engineers have been forced to seek technology that not only allows for a more sophisticated display of information, but also permits the operator to act on the information quickly, accurately and easily. The demand for increased productivity and efficiency on the plant floor has prompted factory floor automation suppliers to develop more open relationships to identify effective methods of integrating new technology into the production process. Suppliers are beginning to realize the advantages of sharing their proprietary design information. While there is a risk associated with releasing technological information, the benefit to suppliers working cooperatively to give operators the tools they need to be more productive is increased market share domestically and worldwide. As we strive to deliver more information to the factory floor in less time through advances in computer technology, we should never forget that our most sophisticated technologies must eventually flow through the hands of a single operator. Thats why companies are devoting resources to bringing products to market which make the connection between man and machine easier, faster and better. COMPANY BACKGROUND The Rotessas Garment was owned by Mr. Rogelio Habacon Sr. The operation started at the year 2003. They found out that the demand of denims or known as pants can be a good business. They sub contract the different kinds of pants like Diesel, Guess, Nafnaf, Abercrombie and many more. As of now their main client was the Swan Lake which is responsible for distributing in the market. According to Mr. Rogelio Cu Sr., the assistant, being in the garment business is hard to manage. You really have to put more attention to be able to have a large profit. One of the main problems they are encountering was the sewers. They must be trained properly and there must be discipline. Existing demand: 152 pieces/day (Standard) ; 19 units per hour No. of workers: 25 workers No. of machines: 22 machines 6 Special Machines * FOA * Pipe thread * Loop Machine * Bartaxs * Waist binding machine * Button holes 16 High Speed Sewing Machines Machine Cost: All machines were second hand PHP 20,000 High Speed Machine(per machine) PHP 25,000 Buttonholes PHP 15,000 Pipe thread PHP 20,000 Waist Binding, Bartax, Loop Machine PHP 15,000 FOA Working Time: * 4 Hours per day * 8 Hours per day * Unlimited or 24 hours Sales per Unit PHP 125 STATEMENT AND DESCRIPTION OF THE PROBLEM Rotessas Garments main problem is manual material handling in transferring their products. They generate waste from the time on hand (waiting), distribution and processing of garments. By assessing the companys workplace the team found out that these problems were generated due to the lack of workers performance, the equipment being used, material handling and transportation techniques. Since cutting, sewing, and pressing of buttons are involve in the operation, handling of materials play an important role. Work done causes difficulty since the method of work is time-consuming. Signs are situated at the left area of the vicinity. It is posted on the wall where some workers cant see. Because of this, some workers forgot to follow proper procedures and policies inside the building. This creates difficulty with respect to the processing sequence of the industry. We have observed that the operation in the shop environment is manual creating complexity with the tasks being utilized by the workers. There is an improper placement of raw materials and poor layout of the orderly flows of material, equipment, people and information. We can say that the equipments being used are over-depreciated, which can no longer be used to utilize production effectively. The reason why poor equipments are present is because of improper maintenance of equipment. Tools like scissors, cutters and screwdrivers are not properly secured. This happens because there are on policies that involve good handling of equipment. SPECIFIC OBJECTIVES OF THE STUDY The following objectives of this study should be considered: * Create an environment that results in the production of high-quality products * Provide planned and orderly flows of material, equipment, people and information * Design a layout and material handling system that can be easily adapted to changes in product mix and production volumes * Reduce work-in-process and provide controlled flow and storage of materials * Reduce material handling at and between workstations * Utilize space most effectively, considering overhead space and impediments to cross traffic SCOPE AND LIMITATIONS OF THE STUDY This study focuses on the methods, layout and processes used in the Garment industry. We limit our scope within the product mix and design; processing and materials technology; handling, storage, and control technology; production volumes, schedules and routings; and management philosophies. All the data collected in this study must meet the requirements stated in the objective of the study. However, each study has its limitations that will be discussed below. * Inflexible in the number of products manufactured * Improper labeling, storage and arrangement of materials * Inflexible layout * Large deviation in production rates in case of equipment failure in the line * Waste arising from unnecessary motion (unlikely event) * Waste arising from producing defective products * Waste arising from transporting * Waste arising from processing itself * Waste arising from unnecessary stock on hand DESCRIPTION OF THE OPERATION STEPS IN MAKING PANTS DRAFTING PATTERN MAKING CUTTING CODING SEWING 1. Marking or Stamping 2. Edging of pockets 3. Heaming 4. Watch pocket to front pocket 5. Front pocket to lining 6. Lining to front panel 7. Staynant 8. Zipper to ply 9. Zipper to panel 10. Tap zipper 11. Connecting riser 12. Back seam 13. Attach back pocket to back panel 14. In seam 15. Side seam 16. Tap side (side binding) 17. Waist band 18. Closed band 19. Making loops 20. Heam leg 21. Button holes 22. Bartaxs / loops attaching 23. Trim 24. Revise and fold WASHING FINISHING FLOW CHART (PRESENT SYSTEM) DATA PRESENTATION AND ANALYSIS In order to determine what specific problem we will be focusing on, we will use the Pareto principle to determine the significant few (80%) of the main problems in the company. We will focus on the significant few problems of the company however, we will still propose an improved plan for the trivial many after payback period of the first investment in order to fully utilize production rates effectively. The reason behind this is because the company does not have enough funds to support the entire plan that will be proposed. After saving enough money from the minimization of the top problems, the company will implement the entire plan that will be proposed. Identifying the reasons of the impact on the facilities design function, the researchers surveyed the reasons of such event. The survey resulted as follows: CONCLUSION We design a plan in order to solve the significant few problem of the company. This program is designed to provide the smoothest flow of materials, achieve flexibility, improve quality, increase productivity and space utilization, and simultaneously reduce facilities and operating costs. The following trends can be utilized: * Eliminate or minimize non-value-adding activities * Simultaneously use Material Handling * Improve design * Proper storage and arrangement of materials * Anticipate unlikely events * Proper labeling * Need for test/ inspection * Ergonomic orientation * Minimize the use of time and space resources * Manufacture in the shortest cycle time possible * Stockless production * Material as needed and required * Continuous-flow manufacturing * Zero-inventory production systems In conclusion, we recommend this plan that we designed to improve the performance of the company and to improve the impact of the facilities design function. The continued trend toward just-in-time manufacturing puts the material handling and layout functions to the front line. By designing and implementing the plan we were able to meet out objective and creates the essence of the material handling function by 50%. The following elements will be further discussed: * Right Amount How much inventory is needed? What is needed? What is not anticipated? * Right Material Simplifying the parts numbering system and maintaining the integrity and accuracy of the database system are more fundamental tasks * Right Sequence Eliminate unnecessary operations or improving those that remain. * Right Orientation Means positioning the material for ease of handling * Right Place Addresses both transportation and storage. It is desirable to directly transport material to the point of use rather than store the material at some intermediate location. * Right Time It means on-time delivery. The goal is to develop a material handling system that will result in lower production cycle times, and not to lower material handling delivery times. * Right Cost To design the most efficient material handling systems at the most reasonable cost. This would entail the lowest possible cost that can be acquired from the From-To Chart. * Right Method Using more than one method is generally the right thing to do

Social Networking Sites Analysis

Social Networking Sites Analysis Social Networking Sites are increasingly becoming popular, attracting the attention of millions of users by functioning like an online community. These sites are web based services that allow individuals to create a public/private profile on one or more sites. Users once registered can input their personal data including photos and videos. This then allows them to interact with other users with whom they want to share a common interest or view point. Currently there are thousands of different social networking sites operating worldwide that offer a variety of features aimed at an assortment of different subject groups. Therefore the social networking sites works by collecting profiles of users who are registered. Once they collect information, this data is open to other members of the group or community for which the user is registered. INTRODUCTION Internet is considered as a part of our life in todays world. Through internet, people can interact with other person from anywhere in the world. There are no divisional and setbacks to prevent people from interacting. Social networking websites are very popular nowadays especially within teenagers. Millions of users incorporate these sites into their daily lives by checking their profile several times a day and getting updates from friends and families time to time. Almost all the online users are members of either one or more social networking websites. In my own words, I would describe these sites as an online utility that enables users to communicate actively with other members and friends by allowing individuals to set up an account and describing his/her own interests. Once the account is created, users are then able to post personal information including photographs, videos and blog entries in their account. The way user interacts with other person depends on features that eac h social networking websites offer. Some of those features include instant messaging, video calling, chatting, emails, blogging, group discussions, file sharing and so on. The social networking websites are classified into different categories. While most of the sites are based on general purpose, some of the sites are based on specific theme. A few of these categories are discussed below. Category 1 General Interest These sites are for general purpose where a user can keep contact with old friend, or make a new friend. These sites also enable user to comment on other member messages/views. Below are some of the top general purpose sites. Facebook: This site allows users to have contact with friends, family around them. Currently facebook is most popular networking site among teenagers. Orkut: Similar to facebook, Orkut also provides its users to meet new friends and maintain existing relationships. This website is owned by Google Inc. Twitter: This website enables its users to send and read other user messages called tweets. This site is sometimes described as the SMS of the internet. Category 2 Specific Interest These sites are based on specific themes which are aimed at certain kinds of groups. Below are some of the theme based network sites. LinkedIn: It is a business-oriented network where members invite people to be connections instead of friends. This is mainly used for professional networking. The purpose of this website is to allow its users to maintain a list of contact details of people they know and trust in business. It can then be used to find jobs, people and business opportunities recommended by someone in ones contact network. Employers use these sites to post job vacancies in their companies. Last.fm: This networking site is based on Music. Registered Users will be able to post in the Last.fm forums, send and receive private messages and use the Last.fm client music player. Flixster: This is a social movie site allowing users to share movie ratings, discover new movies and meet others with similar movie taste. Benefits of Social Networking Websites Using social networking sites, we can develop friendship with people online all around the world. Not only we can make new friends but we will get an opportunity to learn about new languages, cultures of other countries. Social networking websites mostly involves either specific individuals or organizations together. For individuals, these sites provide better ways to keep in touch with friends, families. Also one can increase their group of contacts that can go beyond geographical and cultural differences as they can meet people who share your interests from almost all sides of world. We can share messages within seconds with the person sitting at distant places. One can also create and share blogs with friends and families by providing links to them. Thus, social networking sites have been quite effective in facilitating making new friends or enabling old friend after years of lack of communications. Hence social networking sites can be great way to stay in touch with large groups of people. On the other side, businesses and organizations can use these sites to promote their websites, products and services widely. News channels provide updates to public with recent and up-to-date news about events and activities around the world. Disadvantages of Social Networking Websites Even though there are lot of advantages of these sites, there are dangers also associated with this. The main consequence will be identity theft and fraud of personal data which is on rise. The names, addresses, email ids, age and so on are personal information that a user can give out and fraudsters use this information in performing illegal activities. There are also many people who pretend to be someone else and are using these sites to make a business deal. But the truth is that they will rob money out of another user. Another danger would be meeting strangers online. The main concern from these people is online harassment. They use the information available on users profile. Some fake advertisements can invite users to unwanted viruses to their computers. Nowadays, professional companies are referring online profile while judging people at the time of interviews. Conclusion Social networking sites are an online community that has users registered from all around the world. As seen above there are both pros and cons from using this sites. Therefore one must be very careful while providing personal data online. Nowadays all the social networking websites are offering an option of privacy. By using this option, one can restrict the entry of unwanted users and unknown users. We may get many requests for adding as friends or joining different communities. It is always better to know as much as information about them before adding anyone as friend or joining any community. Otherwise there is a possibility that we may become a victim of fake identity which may spoil your image.

Eskimo Pie Corporation :: Business Management Essays

Eskimo Pie Corporation Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Reynolds Metals is the majority owner of the ice scream company Eskimo Pie Corporation and has decided to sell this company. Nestle Foods provided the highest offer of $61 Million. Due to delays of the Nestlà ©Ã¢â‚¬â„¢s purchase, Reynolds Metals has take into consideration the IPO proposal of David Clark, president of Eskimo Pie Corporation, rather than selling the company to Nestle Foods (Case Study, 2001).   Ã‚  Ã‚  Ã‚  Ã‚  This analysis will identify the current value of the company at a stand-alone value and explain why Nestle Food would want to buy this company and the synergies involved for their reasoning. We will also discuss who will benefit if Reynolds Metals were to sell to Nestle or were to create an IPO. Finally we will provide a recommendation for Reynolds Metals that will be most beneficial to the company financial needs.   Ã‚  Ã‚  Ã‚  Ã‚   Stand-Alone Value   Ã‚  Ã‚  Ã‚  Ã‚  There are many valuation methods that could be used to evaluate this company. Finding a method that valuates the stand-alone value is difficult. The stand-alone value should be dependent upon the firm’s own assets and projected future income. We decided to evaluate this company based upon two methods: The Discounted Cash Flow Method and the Comparable Companies Method. Discounted Cash Flow Method takes the forecast free cash flows during forecasted horizon. Then we estimate the cost of capital (weighted average cost of capital) and estimate continuing value (value after forecast horizon). The future value is discounted to the present value. We than add back cash ($13 Million) and non-current assets and deduct total debt. With the information provided several assumptions had to be made to obtain reasonable values (life period of 30-years, Capital expenditures not to exceed $1 million dollars, depreciation to stay constant at $1.15 Million and a discounted rate of 10%). Based on our analysis, the company has a stand-alone value of $51 Million at the end of fiscal year end 1990 with a net present value of cash flows of $33 million that does not include the cash and non-current assets a cash of and non-current assets. The greatest risk using Discounted Cash Flow Method is all the assumptions that were made. Without knowing and having complete information this method could report underestimated or overstatement figures. The second method we used to analyze the firm’s value was the Comparable Companies Method. We used the historical figures as of 1990 and Goldmans Sach’s Projections. With an average of 22.

Kalma Chowk Underpass

Punjab Chief Minister, Muhammad Shahbaz Sharif inaugurated the largest Kalma Chowk underpass of the history of the country. Addressing the ceremony held on the occasion, the Chief Minister said that completion of the largest underpass in a record period of 82 days is a great achievement which was possible due to the collective efforts of the entire team working on the project. He congratulated the concerned departments, members assembly, contractors and labourers who worked on the project. The Chief Minister said that the underpass consisting of seven lanes has been completed at a cost of Rs. billion in a record period of 82 days. He gave away cheque for Rs. 25 lakh to the labourers who worked on the project. Shahbaz Sharif said that transparency, quality and speedy completion of development projects, is the hallmark of Punjab government. He said that modern infrastructure is essential for rapid development. The Chief Minister said that Punjab government has spent millions of rupees on the improvement of infrastructure throughout the province and a network of roads, bridges and underpasses has been laid due to which economic and trade activities have increased in the province. Director General LDA while giving briefing about the Kalma Chowk underpass, informed that this project has been completed by working round the clock and one lakh sixty thousand vehicles will pass through this underpass daily. Later, the Chief Minister inaugurated underpass and passed through it. Earlier, the Chief Minister inaugurated the Peco Road Ramp constructed alongside Lahore Bridge by unveiling plaque and offered Dua. Members Assembly Naseer Bhutta, Ramzan Siddique Bhatti, DG LDA, DCO Lahore, officials of NLC and a large number of people were present on the occasion. Talking on the occasion, Shahbaz Sharif said that facility has been provided to the residents of Kot Lakhpat and other adjoining localities due to construction of ramp. Dost Muhammad Khosa calls on Shahbaz Sharif, expresses his complete confidence in party leadership: Former Chief Minister Punjab, Dost Muhammad Khosa called on Punjab Chief Minister, Muhammad Shahbaz Sharif at Raiwind today. Senior Advisor Senator Sirdar Zulfiqar Ali Khan Khosa and Member Provincial Assembly Sirdar Hassamuddin Khosa were also present on the occasion. Dost Muhammad Khosa while expressing his complete confidence in the leadership of President PML-N Muhammad Nawaz Sharif and Chief Minister Punjab Muhammad Shahbaz Sharif, reiterated that he will continue to work as a party worker and make efforts for further strengthening the party in the area. Talking on the occasion, Shahbaz Sharif said that workers are precious asset of the party and they are like children in the eyes of party heads.

Business law case study Essay

This essay will discuss the Case study by firstly identifying four elements of contract, then justifying duties of Mr. Martin with applying the principles of pre-existing contractual duties. Finally a discussion about part payment of debt and promissory estoppel will be explained. Likewise, this essay will evaluate the knowledge of common law and agency relationship. QUESTION 1 a) Four essential elements of a contract should be Offer, Acceptance, Intention to create legal relations and Consideration. Firstly, offer, according to Adams(2012), is a full and clear statement of the terms†(p79) send to a party(the offeree) by another party(the offeror). Otherwise there could be a misunderstanding of an invitation to treat or negotiation which are similar statements. If an offer intends to be legally binding, acceptance, by which the offerees can show their agreement of all the terms of the offer, is needed. Acceptance needs to be valid and informing the offeror, while the terms should as same as the previous ones. Another element, i.e. consideration, aims to make sure the promise made is of value. As defined by Jones (2011), the consideration needs to give benefits to the one, who is suffering a loss at the same time. Last but not least, while making an agreement to be legally enforceable, intention to create legal relations is important. While judging whether it is a binding contract or not, the situation to make this contract needs to be considered, in other words, according to Adams(2012), contract made in a domestic or social environment will not be legally bound. Otherwise, if parties are willing to do a commercial agreement, it will be regard as legally bound(Jones, 2011). b) Mr. Martin need to pay the  £750 due to two reasons, based on three cases existed as judicial precedents, which are Stilk v Myrick(1809), Hartley v Ponsonby(1857) and Williams v Roffey bros(1990)One perspective is that there is an additional value within the new contract, though Mr. Martin and Bob the builder were being under a pre-existing contract. Hold that the old contract is not over, due to the other aspect of reason, Mr. martin needs to pay the extra money in order to avoid the loss. These afore-mentioned two points will be justified by cases. Stilk v Myrick(1809) indicates that a  captain promised the seamen extra money if they did successfully return back home. The court finally hold that the captain is not duty to pay the extra money because the old contract is existed as there is not of additional value. While Harley v Ponsonby(1857) was held that the captain needs to pay the extra money, though the situation is similar, because the court consider there is extra value added to the new contract, whilst the old contract is discharged. There are some similarities among these two cases and Mr. Martin’ s case. Mr. Martin also have an existed contract as both parties are agreed to terms of the contract, but comparing to Stilk’s case, Bob the builder suggest a sub-contract with consider an additional value, which is the value of Martin’s seafood. Meantime, because of the bad weather and sick crews, Marin need to pay extra money to ensure this additional value is secured, however, this does not means the old contract is over because the contract can be fulfilled though it may probably be expiry, as Martin has to pay extra  £750 in spite of the payment of the previous contract. On the other hand, in Williams v Rpffey bros, the claimant consider the loss of defendant if the task is not finished on time, so the defendant do have to pay the claimant the extra money as promised. In this case, Bob the builder consider the benefit of Martin so that they suggest the sub-contractor. As Mr. Marin accepted Bob’s counter offer and Bob help him avoid the loss of an amount of seafood. According to the precedent of Williams’ case, since new value to considered, Mr. Martin should pay the extra  £750. To be concluded, by referring to pre-existing duties, Mr. Martin is obliged to pay the extra  £750. c) Mr. Martin needs to pay the full  £750, as he violates the rule of part payment of debts. When consider the part payment of debt, it is necessary to concern the rule in Pinnel’s Case(1602), by which illustrated that part payment is not a sufficient consideration. Because debtors obtains a benefit with giving nothing of value to the creditors. In Marin’s case, Bob agreed to accept a lower payment( £350) in full settlement despite of any excuse Mr. Marin has used. Obviously, Mr. Martin got a benefit of  £400, whereas Bob gained nothing. Therefore, Mr. Marin provided no consideration in this case, because being sympathizing Martin’s bankrupt cannot gain more value for Bob. Since two parties failed to achieve benefits of two sides, the promise of  Bob is not binding. As a result, Martin has to pay the full  £750 as a legal duty. Apart from that, with regard of the classical High Trees House Case(1947), the principle of promissory estoppel by held that the claimants can acquire the arrears after the end of the war because they have the capacity of claiming the recover the previous price before the war started. However, they are prevented to take back the amount of arrears failed to pay because of their previous promise. In High Tress House Case, the promise was make on a real situation where two parties would consider their benefits therefore achieve benefits of both sides. Specifically, the defendants get the right of lease whilst the claimants obtained a number of profits. While in Martin’s case, no matter whether Mr. Martin have difficulties in his financial situation or not, there is still no consideration for Bob the builder, although Mr. Martin do have a benefit of saving  £400. Since there is no consideration exist, Bob is not obliged to obey the rule of promissory estoppel. To be summarised, by discussing the part payment of debt and promissory estoppel, it is responsible for Mr. Martin to pay the full  £750. As Promissory estoppel is on the doctrine of equality. QUESTION 2 According to PPP(n.d.), the common law is the law comprises the custom and judicial precedents of the courts. First feature of common law is that it is not codified, making it is not coming from the comprehensive legislation which is created through Parliament. Apart from EU enforceable law, common law depends on the distributed courts, in where legislative decisions are made. In other words, common law is the certain law made by judges. The decisions have been made in similar cases would become precedents, which mainly compose the common law. These precedents will be collected and recorded as historical documents or files over time. When coming up a new case, these precedents would be applied in the decision, which means precedents make future decision legally bound. Hierarchy has to be referred to when talking about the precedent, whereas not every precedent will be used in judging a new case. The precedent made in a higher court can be applied in a lower court, otherwise it will not be applicable. For example, a judicial decision, i.e. precedent, already made in court of appeal should be applicable in high court or county court, but a decision made in county  court should not obliged to follow for high court. On the other hand, the courts can overturn the decisions of those in same level. Last but not least, the common law make contract more freedom, which means there are few regulations to restrict contracts. Basically, everything could be acceptable even if there is extremely forbidden by law(Adams, 2012 and Jones, 2011). QUESTION 3 According to Adams(2012) and Jones(2011), the relationships between agency and principal are fiduciary ones. Basically, agents do not have legal right to payment unless the principal authorise the right. Generally payment must not be due until the agent have fulfilled the expected result of principal, otherwise, payment can not be used among any certain process on the relationship. However, agent can be regularly paid when agreement express willingness of both sides. Another right of agent is to claim indemnity if there is any expenses incurred when agent conduct the authority, no matter the agent is gratuitous or not. On the other hand, agents do have duty to possess reasonable care and skill, moreover, an agent with professional or trade skill is expected to preserve the skills as conducting a trade or profession. Then, a contractual agent must carry out the agreed tasks and the whole process of achieving the result should follow the principal’s orders. Therefore, an agent needs to perform his duties himself. The performance of the duties cannot be delegated to any third party. Likewise, the agent is required to be accountable for any profits arising from the performance of the duties and to record the benefits of exercises of authority. Besides, an agent has duty to avoid the possibility of being conflict of interest without principal’s permit, though agent must not sell his own property or shares to principal. Last but not least, an agent not only cannot take any form of bribe, but also cannot make secret profit, whereby the principal can dismiss the agent and make the contract voidable for fraud. In conclusion, case study has been discussed by applying the related law knowledge in terms of consideration of contract particularly. Therefore, basic explanation of common law and, duties and rights within agency relationship are demonstrated. Bibliography Adams, A (2012), Law for business students(7th ed), London: Pearson Education Limited. Public private partnership(n.d.), Key features of common law or civil law systems, Available at: http://ppp.worldbank.org/public-private-partnership/legislation-regulation/framework-assessment/legal-systems/common-vs-civil-law. (Assessed 22 February 2014) Jones, L (2011), Introduction to Business Law, New York: Oxford University Press. Central London Property Trust v High Trees House (1947) KB 130, 44, 53, 110, 119, 595 Hartley v Ponsonby(1875) 7 EL BL 872, 106 Pinnel’s Case (1602) 5 Co Rep 117, 108, 109, 117, 595 Stilk v Myrick (1809) 2 Camp 317, 106, 107, 589 Williams v Roffey Bros (1990) 1 ALL ER 512 CA, 107-109, 118, 119