Common law Essay Example | Topics and Well Written Essays - 2000 words - 1

Common law - Essay Example Wirral Utilities has dug a trench along the pavement and so as to prevent anybody falling in the trench, placed at one end a long handed hammer and at the other some picks and shovels. One end of the hammer lay on the pavement, and the other was hooked on to some railings. These precautions would have been sufficient for the public at large who used the pavement, but the claimant was special, in that he was blind. While walking to his work along the pavement as usual, he had a fall because he tripped over the end of the hammer lying on the pavement. Normal people would have seen the danger, but the claimant did not. He was himself not negligent. His white stick had passed over the hammer. As a result of the fall, he banged his head against the pavement. In the resultant injury, he became deaf and had to retire early from the job. The claimant has sued Wirral Utilities for the tort of negligence. The case is founded on four scenarios or likely turns of event. First is whether Wirral Utilities owed any duty of care to the public at large who utilized the pavement. The next question is whether Wirral utilities breached that duty owed to the claimant. It is the third point to be considered whether the damage to the claimant i.e. the injury caused to him arising from such negligence was foreseeable by a party in a position as Wirral utilities. Ultimately the essay will address the possible defences that Wirral utilities may have against the action brought by the claimant. People have rights in law apart from those arising out of contract. These rights can be enforced by the injured party. When these rights are infringed by somebody out of which the person is injured, and a damage results out of that injury, the party whose act or omission led to the tort is liable to the person aggrieved. Law imposes a duty upon everybody to take care that no one suffers as a result of his act or omission. Thus, in law, a person is duty bound to keep his dog on a

BUSINESS ECONOMICS Essay Example | Topics and Well Written Essays - 1750 words

BUSINESS ECONOMICS - Essay Example Open market operations involves the buying back or selling of government securities. Of the government wants to increase the supply of money it will buy back the securities it has sold to financial institutions in exchange of currency that will then be circulated in the market in the form of investments or lending. If the government wants to decrease the money supply it will sell its securities and holding onto the money that was previously in circulation. Another way to control money supply is to adjust the rate of lending at which the banks can obtain loans from the central bank or other banks. Higher rate will result in low borrowing and hence tightened money supply and vice versa. Lastly, Cash Reserve requirement is also adjusted in order to control money in circulation. Cash reserve is the amount of funds that the financial institutions are required to keep aside. This is a percentage of the total deposits and higher cash reserve requirement allows banks to lend out less funds. Similarly lower cash reserve requirement enables banks to have more funds to lend out. Unconventional tools of money supply include the central bank’s commitment to keep rates low in the future. Another means is to adjust the central bank’s assets to provide ease in credit through the change in different rates and prices. Third unconventional way is lower the policy rate to zero by supplying reserves that are more than the required rate (Highered.mcgraw-hill.com, 2011). Money supply is a crucial aspect that determines the value of currency and inflationary measures. Conventional ways are the standard means for the central bank to control money supply. However, if the economic conditions do not permit the central bank to use the conventional means they resort to unconventional means which are effective but not good for the economy in the long run due to their unpredictable and risky nature. (b) In a 2012 study the International Monetary Fund (IMF) reported that the fiscal