Oedipus Rex Essay Example | Topics and Well Written Essays - 1000 words

Oedipus Rex - Essay Example But as it is revealed in the concluding part of the play some duties are fundamental, and even the interest of the state and its laws are subservient to it. The duty to bury the dead concerns humanity and it has nothing to do with the existing law or ruling by any authority. It is the moral duty that derives authority from the unrecorded law. The Parameters of Free Will is another theme that is part of the play. Tiresias predicts the arrest of one who is both father and brother to his own children. Oedipus reveals to Jocasta of a prophecy he came to know as a youth, that he would kill his father and sleep with his mother, and Jocasta tells Oedipus of an identical prophecy given to Laius, that her son would grow up to kill his father. Oedipus and Jocasta enter into discussion about the extent to which prophecies should be relied upon at all, and when all of the prophecies come true, it appears that one of Sophocles’ aims is to defend the powers of the gods and prophets. In the play Oedipus has no other option but to fulfill the prophecy. Fate continuously overpowers him. Oedipus’s Swollen Foot is an example of symbolism in the play. Oedipus was left in the mountains with his ankles trapped together and Laius had abandoned him in that state on a desolate mountain shortly after he was born. Oedipus bears with this injury for the rest of his life and the scar is the indicator for the plight undergone by him. His injury symbolised the manner in which fate dealt with him and his movements were restricted since birth. That was Apollo’s prophecy to Laius. The Junction of Three-Roads: Jocasta mentions about the place where Laius is assassinated, where three roads intersect. This crossroad is mentioned often during the course of the play and it symbolises crucial moments of the play. Symbolically, a crossroad is the place where a decision has to be made about the path to

Linking and Illegal Trespassing Essay Example for Free

Linking and Illegal Trespassing Essay Bidder’s Edge was different than EBay normal customers for a few reasons. Bidder’s Edge searched for bids on EBay to compare with bids from other bidding sites to find the best bids for customers. Bidders Edge could have potentially slowed the access to EBay’s actual customers on EBay’s site directly (The Recorder, 2000). I feel EBay gained concern because this process could have lost them potential or current customers. For example, if EBay was being compared to other bidding websites with low bids, then it would be obvious that EBay would not be chosen by bidders. Bidders Edge for me seems a lot like Amazon. Amazon compares several stores prices to find their customers the lowest price. The difference with Amazon is that they only search stores that have granted them the permission to do so. Also unlike a bidding website, all prices are as is. Traditional trespass to personal property is entering a premise without permission, misusing or damaging the owner’s property and also preventing the owner of said property from using the property as the owner intended (Bick, 2000). The difference between traditional trespassing and to personal property differs from the California definition of trespassing to computer services is vastly. Where with the traditional trespass to personal property is easy to prove, the California definition of trespassing to computer services is not. California definition of trespassing to computer services states that the owner of web site has to prove that the use by trespasser has caused injury to web site or owner. Being that a majority of the internet is public access, it can be hard to not allow access to certain individuals and companies while considering themselves a public website. Also an internet site is much easier to access than a physical property and harder to prove.

Entangled and Entraped in Samuel Becketts Waiting for Godot :: Waiting for Godot Essays

Entangled and Entraped in Samuel Beckett's Waiting for Godot       Set against the barren dramatic landscape of Samuel Beckett's "Waiting for Godot", humanity seems to exist with an interconnected, interdependent, and interchangeable set of relations. Early in the play Beckett introduces the tether as a central metaphor in order to explore the moral, social, and existential implications of this complex web of relations. Pozzo and Lucky are literally tied to one another. Though less tangible, Vladimir and Estragon are joined by an equally powerful emotional bond. Ultimately, even the relationship which defines the motion (or lack thereof) of the entire play, the connection between Godot and Vladimir and Estragon, is described as a form of bondage. Vladimir and Estragon admit that their fate is ultimately tied to the will of Godot.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     At first glance, the rope looped around Lucky's neck and held by Pozzo delineates a fairly clear relationship of power: Pozzo is dominant and Lucky is submissive. While Pozzo does seem to revel in his position of authority, it becomes apparent that the relationship is more involved than it seems. Pozzo tries to explain that Lucky "wants to mollify me so that I'll give up the idea of parting with him" (I, 21). By enslaving himself to Pozzo's wishes, Lucky hopes to ensure the continuation of their relationship. While Pozzo is aware that he is being manipulated, he also states, "You can't drive such creatures away. The best thing to do would be to kill them" (I, 21). Yet all Pozzo's efforts to sever their tie are unsuccessful. In fact, when they reappear in Act II, the rope between the two has shortened and Pozzo is now blind. In a very real, very substantial manner Pozzo has become more dependent on Lucky. Their bond is thus simultaneous ly strengthened and convoluted.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Though their connection might lack a tangible symbol, the link between Vladimir and Estragon is no less real or complex. Beckett is able to place both pairs under the common roof of humanity. Pozzo acknowledges that Vladimir and Estragon "are human beings none the less... of the same species as myself" (I, 15). Vladimir and Estragon seem to depend on one another at a more visceral and emotional level, however. There is both love and revulsion between them. Both realize that their relationship is an obstacle to individual happiness, and yet both become desperate at the thought of a solitary existence.

Bba Application Essay

Community is where one finds a place to belong and a purpose to pursue. It can mean the difference between soaring with greatness or simply floating along. It is where leaders find their passion to shine and their reasons to thrive. The Emory Concert Choir community is no different, and it is where I have found my own passion and purpose to grow and thrive. The Emory Concert Choir is a family of diverse individuals who join together to fill each other’s lives up with song and laughter. It is where each of us has found our identity and expresses our passion for music.Each precious breath that escapes between our lips echoes through the concert hall and is filled with our pride and joy. However, music is not a treasure to be guarded from others, but is instead a food for the soul that should overflow. Therefore, I have thusly devoted myself to let our music be known to the Emory community as our Publicity Chair. In order to increase our campus awareness and allow a larger number of students to enjoy our concerts, I have started a number of initiatives since being appointed.During my freshman year, I noticed a lot of listeners came up after our concerts to express their gratitude. Many claimed to have been overwhelmed with joy and loved the beautiful sounds. Yet, many of these faces were not seen during the following concert. I realized that the problem lies within the lack communication of information; many simply did not know the date of our next concert. In order to increase communication, I began collecting email lists after each concert for those who wished to be informed of our future concerts.Furthermore, our new YouTube pages and Facebook pages will now allow us to utilize social media to engage with the Emory community. These new tools will help us keep the Emory community informed of all our future ventures. However, awareness does not end with simply communicating information. It is equally important to develop and maintain an image and identity of our Choir as a whole. Just as a company advertises its brand image, we too plan on promoting our choir’s image.During the academic year of 2012-2013, one of my largest initiatives is to identify the key characteristics of our choir, and create a campaign to promote that image. We have already begun designing apparel for the choir and revamping our website. The efforts made here will help shape Concert Choir’s place in the Emory community for the years to come. Over the past year, Emory Concert Choir has transformed from a group of singing strangers, to a family of friends supporting a common goal. I now know my role in improving our Concert Choir family and I know I have the capacity to achieve such greatness.

The Council of Trent

The Council of Trent (Latin: Concilium Tridentinum) was the 15th-century Ecumenical Council of the Roman Catholic Church. It is considered to be one of the Church's most important[1] councils. It convened in Trent (then capital of the Prince-Bishopric of Trent, inside the Holy Roman Empire, now in modern Italy) between December 13, 1545, and December 4, 1563 in twenty-five sessions for three periods. Council fathers met for the first through eighth sessions in Trent (1545-1547), and for the ninth through eleventh sessions in Bologna (1547) during the pontificate of Pope Paul III. 2] Under Pope Julius III, the council met in Trent (1551-1552) for the twelfth through sixteenth sessions. Under Pope Pius IV the seventeenth through twenty-fifth sessions took place in Trent (1559-1563). The council issued condemnations on what it defined as Protestant heresies and defined Church teachings in the areas of Scripture and Tradition, Original Sin, Justification, Sacraments, the Eucharist in Hol y Mass and the veneration of saints. It issued numerous reform decrees. 3] By specifying Catholic doctrine on salvation, the sacraments, and the Biblical canon, the Council was answering Protestant disputes. [1] The Council entrusted to the Pope the implementation of its work; as a result, Pope Pius V issued in 1566 the Roman Catechism, in 1568 a revised Roman Breviary, and in 1570 a revised Roman Missal, thus initiating what since the twentieth century has been called the Tridentine Mass (from the city's Latin name Tridentum), and Pope Clement VIII issued in 1592 a revised edition of the Vulgate. 4] The Council of Trent, delayed and interrupted several times because of political or religious disagreements, was a major reform council and the most impressive embodiment of the ideals of the Counter-Reformation. [4] It would be over 300 years until the next Ecumenical Council. When announcing Vatican II, Pope John XXIII stated that the precepts of the Council of Trent continue to the m odern day, a position that was reaffirmed by Pope Paul VI. [5] The Council of Trent The Council of Trent was an ecumenical council convoked by the Church in 1545 and ran until 1563. It was convoked by Pope Paull III but continued by Popes Julius III and Pius IV. The purpose of the council was to address the grwonig threat presented by the rising Protestant movement which was rapidly spreading all over Europe, winning believers to their side and threatening the very existence of the Catohlic Church and faith.It was convoked when the Church realized that the Reformation was a serious threat as it involved several secular leaders whom Martin Luther had won over to his side and it was no longer a mere theological debate but had social and political implications at this point in time. In a way, the Council had somehow succeeded in getting the Church from its â€Å"medieval† image and bring it into the modern times which would be followed up by subsequenct councils, the First and Second Vatican Councils (McNally 36). The Council addressed the issues that spurred th e Protestants into action.One particular issue that the Council did address was the apparent corruption in the Church as an institution including the sale of indulgences which triggered Luther's â€Å"rebellion† (Mendham 317). The Council abolished several of these illegal practices and introduced or recommended disciplinary reforms providing a provision governing the conduct of the religious, particularly those belonging to monastic and mendicant orders where they â€Å"shall order their lives in accordance to what is prescribed by the rule which they have professed.† The result of this was it checked corruption in the Church and helped restore â€Å"back to basics† policies where the religious were reminded to uphold the vows of poverty, chastity and obedience that they took upon entering the orders after years of strife affected the Church leading it to be infiltrated and influenced by political figures which changed its direction and led to the near-loss of its credibility. In addition, it also led to further education of the clergy and the codfication of religious orders (Roman Catholic Church, Session 25; Fisher 402).But this was the only â€Å"correction† the Church made. The rest were reaffirmations of other church traditions that hardly changed at all. These were considered part of Church traditions which Protestants opposed, believing that they were â€Å"invented† by Catholics as Protestants subscribed to â€Å"sol scriptura,† relying on the Bible as their source of â€Å"tradition. † Among them were the sacraments where Protestants found most of them â€Å"unecessary† yet the Church upheld it.They clarified the issue on the saints and the Blessed Virgin Mary by stating that they are only to be â€Å"venerated,† not â€Å"worshipped,† something Protestants accused Catholics, charging that this was bordering on idolatry or paganism, as well as stressing the necessity of good works to go with one's faith rather than relying on faith alone. They made use of the Bible in defending the practice of the sacraments, stating they were not inventions and were stated in Scripture though implicit (Madrid 111).Another issue that was upheld was the infalliability of the Pope. Notwithstanding the scandals that undermined the image of the papacy, the Council upheld the Pope's place as the Vicar of Christ and the head of all Christendom. It can be inferred here that there was still the need of a leader who could transcend spiritual and secular realms, especially during this time when Reformation brought more upheavals and instability (Luebke 45, Madrid 44-53).As an epliogue, this was addressed once again in the Second Vatican Council in 1963 and the infallibility issue was resolved once and for all here. In conclusion, the Council of Trent cannot be entirely credited in ensuring the survival and continued existence of the Catholic faith but was rather part of the Counter-Ref ormation that had somewhat checked the spread of Protestantism.It was able to uphold and defend the traditions the Church regard as part of professing one's faith, thereby throwing back the accusations Protestants hurled at it for being on the wrong side of faith. As a parting shot, Catholic apologists in the Council of Trent and beyond, have riposted Protestant arguments by stating (ironically) that there existence was because of the Church and had there been no Church, they never would have existed at all. Works Cited Fisher, George P.The Reformation. Bibliobazaar, 2009. Madrid, Patrick. Where Is That in Tradition? Huntington, Indiana: Our Sunday Visitor Publishing, 2002. McNally, Robert E. , SJ. â€Å"The Council of Trent, The Spiritual Exercises and Catholic Reform. † Church History 34. 1 (1965): 36-49. Medham, Joseph. Memoirs of the Council of Trent. London: James Duncan, 1834. Roman Catholic Church. The Council of Trent. 1545. Hanover College. 14 Aug. 2010 .

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buy custom Nutrition essay The film, article and chart are used to reveal just how unfairly the end users are being treated by those in the food producing industry with the government knowing and not doing much to protect the customers from being exploited by the food producers. The results have shown that the food industry in our country is the hands of very few firms whose aim is to make profit without really minding the impact on important factors like: the health of the end users, their impact on the surrounding environment, the employees security and so on (Senker 54). According to the chart, the prices of the products which threats to the health of the consumer are declining everyday compared to the products which are helpful to their health. This is likely to affect the elderly people those who in their 50s because they are really careful on the kind of food they take as they are wise and cannot just be careless about the welfare of their health (Anne and Jill 20). Another reason why they are really affected by the price pattern of the food stuff is because most of them are already suffering from sicknesses like diabetes, stomach ulcers, high blood pressure which cannot allow them to eat, to say, what they can afford, but what their sick bodies can take and more so they have to eat as prescribed by the doctor. On the other hand, the group that is less affected is the youth i.e. those who are their 18s to around 40s .This is because most youths while choosing what to eat, do not lay much weight on its effect to their health rather some will take anything to get satisfied, others will take anything so long it is sweet, others will go for the cheap foodstuff so long as it keeps them alive and so on but they do not worry so much about the effect of whatever they take on their health. Unhealthy eating can be as a result of a number of factors depending on who we are looking at; to start with young children may unhealthy if the people who are responsible of taking care of them have not set a good example on what is healthy to eat or if such persons e.g. parents or guardians are poor and can only afford some cheap unhealthy food. On te other hand adults unhealthy eating could also be as a result of a number of factors such as, lack of finances to purchase what is healthy to eat, some of them may be operating under a very tight schedule which may not allow them enough time to prepare and eat some healthy meals and others may do it as a result of ignorance of what and what is not healthy, among many others. There are so many bad effects of unhealthy eating most of them being dangerous diseases like diabetes, cancer, stomach ulcers, obesity, kwashiorkor, marasmus, anemia, beriberi, short sight, high blood pressure, etc. Unhealthy eating may also lead to premature death because the body is not strong enough to fight bacteria and other disease causing organisms. Unhealthy eating could also result in loss of weight because of lack of nutrients to strengthen the bones. However the government has mitigated the loss caused by unhealthy eating by introducing policies and methods which ensures that every one can access healthy food. By: 1. Ensuring that there is enough and quality food within the country 2. Ensure that the food produced in the industries is safe for human consupmtions.For example through a body like the bureau of standards which certifies that everything that is manufactured in our industries is up to standard. 3Educating the citizens on the importance of healthy eating, through televisions, radios, magazines, billboards etc 4The government should also provide special food to those with special health cases especially the poor. Etc The government has not been able to implement these policies fully and effectively mainly as a result of poor governance and poor planning which has really denied some citizens access to healthy food. Government subsidies are the money that the government gives to the industries or firms to assist them to produce and sell the basically needed products cheaply. This way the industries are able to sell their products to the society making food a bit more affordable without incurring losses. Government subsidies will make the locally produced goods more attractive compared to imported goodss making even the farmers to cultivate more of those products which used locally for production due the increased market for them. Different people will eat different food for the main meal and of course there that which they take after the meal depending on their financial status. We see most rich people suffering from sicknesses like obesity. This is because they take food with a very high fat content and do not involve themselves in a lot of physical exercises neither will u find a lot of such people being fond of some very nutritious fruits like water melons, ribena and so on ( Walter, et al 25). The other major problem with this class of people is that they neglect taking a lot of water and they instead take juice which contain a lot of chemicals inform of preservatives which can be of great harm to ones health if it becomes too much whereas the poor will contact sicknesses like kwashiorkor because most will not afford a balanced diet. From the above discussion, I tend to think that the reason why most people are suffering from so many sicknesses is unhealthy eating whose chief cause is ignorance and poverty and am so surprised to realize despite the high price of the healthy food there people who are less concerned about the effect of what they eat on their health (Benedict, et al 95). By this I mean that though some people are can afford any kind of food, they are less concerned about their health and instead of taking a balanced diet, they end up taking too much of some foods and neglecting the others which is also needed by the body. About the effect of the price and the availability on my choice of food, I would say that the price of food does not really matter here because to the best of my knowledge, the foods quality has got nothing to do with price; For example most very nutritious fruits and foods like beans, sweet potatoes, arrow roots among others are quite affordable I only need to to the nutritional value of various foodstuff observing cleanliness(very important) to keep eating healthy because now I know the importance of healthy eating and my goal is to avoid the risks of unhealthy eating. Buy custom Nutrition essay

Mosquitoes - Family Culicidae

Mosquitoes - Family Culicidae Who hasnt had an encounter with a mosquito? From the backwoods to our backyards, mosquitoes seem determined to make us miserable. Besides disliking their painful bites, mosquitoes concern us as vectors of diseases, from West Nile virus to malaria. Description: Its easy to recognize a mosquito when it lands on your arm and bites you. Most people dont take a close look at this insect, tending instead to slap it the moment it bites. Members of the family Culicidae do exhibit common characteristics if you can bear to spend a moment examining them. Mosquitoes belong to the suborder Nematocera – true flies with long antennae. Mosquito antennae have 6 or more segments. The males antennae are quite plumose, providing lots of surface area for detecting female mates. Female antennae are short-haired. Mosquito wings have scales along the veins and the margins. The mouthparts – a long proboscis – allow the adult mosquito to drink nectar, and in the case of the female, blood. Classification: Kingdom - AnimaliaPhylum - ArthropodaClass – InsectaOrder – DipteraFamily - Culicidae Diet: Larvae feed on organic matter in the water, including algae, protozoans, decaying debris, and even other mosquito larvae. Adult mosquitoes of both sexes feed on nectar from flowers. Only females require a bloodmeal in order to produce eggs. The female mosquito may feed on the blood of birds, reptiles, amphibians, or mammals (including humans). Life Cycle: Mosquitoes undergo complete metamorphosis with four stages. The female mosquito lays her eggs on the surface of fresh or standing water; some species lay eggs on damp soil prone to inundation. Larvae hatch and live in the water, most using a siphon to breathe at the surface. Within one to two weeks, the larvae pupate. Pupae cannot feed but can be active while floating on the waters surface. Adults emerge, usually in just a few days, and sit on the surface until they are dry and ready to fly. Adult females live two weeks to two months; adult males may only live a week. Special Adaptations and Defenses: Male mosquitoes use their plumose antennae to sense the species-specific buzzing of females. The mosquito produces its buzz by fluttering its wings up to 250 times per second. Females seek bloodmeal hosts by detecting carbon dioxide and octanol produced in breath and sweat. When a female mosquito senses CO2 in the air, she flies upwind until she finds the source. Mosquitoes dont require blood to live but need the proteins in a bloodmeal to develop their eggs. Range and Distribution: Mosquitoes of the family Culicidae live worldwide, except in Antarctica, but require habitat with standing or slow moving fresh water for young to develop. Sources: Diptera: Culicidae. (Accessed May 13, 2008).Family Culicidae - Mosquitoes - BugGuide.Net. (Accessed May 13, 2008).Mosquito - Wikipedia, the free encyclopedia. (Accessed May 13, 2008).

Fellowship Opportunities for Writers in Berlin

Fellowship Opportunities for Writers in Berlin Berlin has long been known for its thriving international arts and literary communities. It is equally known for the support that exists for writers and artists in the city. Centrally located within Europe, it is an easy train ride or flight to other major cultural destination cities, including Barcelona, Florence, Paris, and Prague, and serves as a font of inspiration for creative people from all artistic walks of life. Many are familiar with writers such as Christopher Isherwood, Franz Kafka, and Robert Walser, who found inspiration for their stories in Berlin, and musician David Bowie, who recorded three albums while living in the city. Since moving to Berlin in July 2013, I have immersed myself in the local literary community and have found the following resources for international writers seeking short-term residencies here. American Academy in Berlin americanacademy.de/ Located in the lakeside Hans Arnold Center in the Wansee neighborhood of Berlin, the American Academy offers annual Berlin Prize fellowships to scholars, writers, and artists who represent the highest standards of excellence in their fields. Past Fellows include poets Susan Howe, Tom Sleigh, and C.K. Williams, and novelists Kiran Desai, Jonathan Safran Foer, and Ha Jin. The upcoming class of Fellows for 2014-2015 includes writers Mary Jo Bang, Tom Drury, and Adam Ross. Fellows commit to spend one academic semester (fall or spring) at the Academy, and the prize includes a monthly stipend, partial board, and a residence at the Center in Wansee. The deadline for applications for 2015-2016 is September 29, 2014. Deutscher Akademischer Austausch Dienst/German Academic Exchange Service DAAD North America daad.org The Artists-in-Berlin Program (Berliner Kà ¼nstlerprogramm) of the German Academic Exchange Service (commonly referred to as DAAD) provides about 20 grants to international artists in the fields of visual arts, literature, music, and film, for an approximately one-year stay in Berlin. The grant includes a monthly stipend, an apartment, workspace (studio), and funds for projects. U.S. writers who spent a year in Berlin through the program include Eugene Ostashevsky, Robert Creeley, and Rosmarie and Keith Waldrop. The deadline for applications to the program is January 1, 2015. ZK/U-Zentrum fà ¼r Kunst und Urbanistik zku-berlin.org/ The ZK/U-Zentrum fà ¼r Kunst und Urbanistik (Center for Art and Urbanistics) provides residencies of two to eight months for artists, scholars, and practitioners (curators, activists, autodidacts, etc.) interested in cross-disciplinary theory and practice dealing with the city. Recent participants include poet Stephen Motika and novelist Alan Cunningham. For individual fellows selected for the program, depending on the studio-apartment and the length of the stay, costs can be between 500 and 800 Euros per month. ZK/U will work with selected fellows in support of efforts to obtain funding to cover the cost through external grants. The deadline for applications for the Autumn-Winter 2014-2015 residency is July 27, 2014. American poets who wish to spend time in Berlin, Germany (or other cities abroad), can also consider applying for the competitive Amy Lowell Traveling Scholarship (amylowell.org/), which awards one scholarship of approximately $54,000 to an American poet who agrees to spend the entire year abroad. The deadline for applications for the scholarship is October 15, 2014. Inspiration can be found everywhere. But sometimes, the opportunity to travel can bring you out of a rut and lead your writing in unexpected, and exciting, directions.

World Cinema Essay Example | Topics and Well Written Essays - 1250 words

World Cinema - Essay Example With this close-up shot, the audience could notice that her eyes are looking towards the left or the shadowed side of her face. This reflects the confusion in her mind, the shrouded mystery of why this has happened to her which seems to be more poignant to her than all the physical suffering that she has endured. Also a sense of shame can be interpreted from her gaze to the left as she does not look directly to the audience. Just by the opening close-up shot on the Bride’s face, we can already sense that the whole movie will revolve around her tribulations and suffering, but more importantly, in her uncovering why this has happened to her. The following scene then shows a combination of a close-up shot and a tracking shot of an unknown person’s shoes walking left to right. These combinations of shots give an impending feeling to the audience yet at the same time, a mysterious aura because only the sleek leather shoes of the person is shown in the frame. The next scene goes back to the close-up shot on the Bride’s distorted face and the tip of the shoe seen earlier is now visible on the lower-right portion of the frame meaning this scene is a conjunction of the two previous scenes. At that precise moment, the Bride’s face tilts towards the right a little, exposing her face more than before and her eyes look towards the right as well. Her eyes convey the impression of fear on the person drawing near her. Her eyes also tell implicitly that the person who gave her the bruises and cuts on her face is the person is the person she is looking at right now. With the close-up shot, one could clearly see the trembling of her lips as the person in leather shoes moves in on her. She closes her eyes a little as if not wanting to see the person in front of her. The unknown person reaches out his hand holding a handkerchief to wipe the bleeding of the face of the Bride only for the Bride to look away and reject this person’s s how of compassion. Particularly

Taxation System in the New York Assignment Example | Topics and Well Written Essays - 750 words

Taxation System in the New York - Assignment Example Since his daughter furnished the apartment using his property, he would have to pay all the property taxes for the furniture. In 2009, the taxpayer also visited his regular doctor and traveled by taxi to and from JFK airport. The hotel expenses would also add to the amount of money he would have had to pay as taxation. In 2010, the taxpayer was in New York for an additional 47 days but returned home in September that year. For the time up to September, his salary would be subject to taxation in New York as a person working abroad. When he came back home, he would go back to being taxed as a local resident since he was no longer working abroad. He would also continue being on his daughter’s apartment lease as the guarantor and therefore pay all the subsequent taxes related to the lease. The taxpayer’s taxable income would be $150,000 from the sale of stock of a California corporation which only held New York real property + $4,000 in NY State lottery winnings + $50,000 distribution from his pension plan + $1000 interest income from his savings account from ING + $100,000 in gains from the sale of a painting located in Connecticut but sold while temporarily at a museum located in New York. The cost of the painting was $20,000. To make a total of $305,000 The amount of the taxpayer’s income that would be subject to New York taxation would be around 100/365 x 100,000. The time he spent working in the company’s out-of-state field offices would not be liable to taxation in New York. The allocation formula would be simply dividing the number of days spent in New York with a total number of days in a year and multiply with his total wages from the company for a year. There are around 155 days that the taxpayer cannot account for in terms of where he was working. Since there is no way of determining this, there would be no taxes calculated for these days.  

Essay - Family Vacation Example | Topics and Well Written Essays - 1000 words

- Family Vacation - Essay Example Firstly, most of my immediate family members have never been outside the US and a vacation in Ireland would surely be treasured for a change in their daily routine. This will convince them to change their ideas on the usual vacation hotspots in America, which are normally over booked in the summer. A change of scene would be refreshing to everybody giving us all a unique experience. There are many cheap flights to Ireland from America; this would ensure that the monetary cost is as slow as possible. With globalization happening all over the world, a return to America through the famous JFK international airport would be ideal for the family. The airport provides the first opportunities of international passengers and other foreign residents. Some of my family members prefer cheaper places in America because money is tight with the economy in poor shape. A few prefer to stay at home with the same old experiences. I have saved enough money, and I would convince them not to let this opportunity bypass them. I believe one cannot quantify the experience of visiting Ireland in monetary terms. Real life experience is better than information from magazines and books, and other secondary sources, the memories are vivid and long lasting. On landing in Dublin, we would first sample the city life especially in the nearby metropolitan area. Being a summer vacation, there would be many people including foreign tourists. To avoid the overcrowding in the city accommodations, we would book places in nearby cities to avoid price hikes and congestion in hotel bookings. Most people on vacation first make a stop over in cities before heading to unwind in less noisy and chaotic smaller towns. To sample the culture of a people, one needs first to visit the restaurants. These restaurants provide first glance on the delicacies and a quick observation offers insights into the mannerisms and cultures of Ireland. Furthermore, different restaurants serve different foods

Anthopology Essay Example | Topics and Well Written Essays - 1000 words

Anthopology - Essay Example According to the researches of Chavez, Pedraza and Rimbaut; there are clear distinctions between a migrant and a settler. Migrants could be regarded as people that temporary residents of an area; thus migrants are people that leave their permanent place of residence and live in other areas temporarily in search of greener pastures. On the other hand, settlers are people that have the privileges of a citizen of a particular country or region after living there for a particular number of years. Thus, Chavez believes that undocumented immigrants are people that start out as illegal immigrants and they could actually attain the status of a settler after staying there for a particular number of years. The notion about undocumented immigrants is what actually affects the way that undocumented immigrants carry out their duties as workers in the United States of America. These undocumented immigrants do not see themselves as permanent residents, but as temporary workers that have a short sti nt in the United States of America. The undocumented workers are faced with the challenge that they would have to go back to their native countries someday (Chavez, 1998). ... The three phases are separation, transition and incorporation. The separation phase is the stage that the undocumented immigrants are separated from their friends and families and this represents an emotional period in the lives of the undocumented immigrants. The transition phase is the stage that the undocumented immigrants are presented with the opportunity of moving to a higher level in their lives as they try to become a member of a society that is actually alien to them. The incorporation phase is the stage that the undocumented immigrants try to in integrate themselves into their new home and society and they identify with the values and norms of this society during the incorporation phase. And this is just like the rite of passage as it takes place when someone makes a reasonable progress by changing from one status to another (Chavez, 1998). Chavez carried out his fieldwork by conducting interviews among undocumented immigrants living in different places. He organized struct ured interviews and informal interviews for these undocumented immigrants. The difficulties he faced in the course of his field work are that most of the interviews were usually time-consuming (Chavez, 1998). Chavez chose to refer to them as undocumented immigrants due to the fact that he felt that was the most polite and neutral term to use to classify these groups of individuals as other terms that were used were too harsh on these people. Chavez characterizes the social diversity of northern San Diego based in the different backgrounds of the people that reside there. He also characterizes them by the number of years they have stayed in the United States and the factors that affect the way they live. The undocumented immigrants fit into the larger society in areas that

Evaluating websites Essay Example | Topics and Well Written Essays - 500 words

Evaluating websites - Essay Example For academic purposes however, khanacademy.org may not pass as a valid reference because it is not considered a scholarly site but rather just a tutorial. It could however, support as reference to scholarly journals. With Hulu.com, the films and clips that would be shown there can be referenced because it is the film maker that matters in academic citation and not the medium or platform. I chose to evaluate these two websites because they are very popular among teenagers like me and I would like to figure out myself if they are valid and substantive website. I also would like to know if they could pass for academic referencing. After studying that valid academic websites must be supported by scientific methodologies, I concluded khancademy.org may not qualify to be used as a primary reference even if it is very popular among students like me. Of course these websites are very helpful and easy to use especially Hulu.com. Who does not want to watch movies and tv anyway? It is also almost plug and play the moment we have chosen our desired film or tv series so it is very easy to use. It is also very helpful because the interface of the website is very easy to understand and navigate (hulu.com). With regard to khanacademy.org, the website is also extremely helpful with the basics in case we want to brush up with it. The site however is not much of use to college students and especially if the lessons that we are dealing with are quite complex. In addition, it cannot be used as a primary reference and not a site for research. With regard to its ease of use, the website is also easy to navigate and the subjects are logically arranged and categorized so that they can be easily located (khanacademy.org). There are things that could be learned from khancademy.org than Hulu.com. Hulu.com is an entertainment website and in academic sense, there is nothing much to be picked from it. But if we want to have a cost effective

Business Strategy Essay Example | Topics and Well Written Essays - 250 words

Business Strategy - Essay Example t size, market growth rate, market share as well as market segmentation, clearly, all these are the strength that are enjoyed more by Merck company as compared to the competitor. The company needs to reexamine the top-down aspect in relation to bottom up perspectives as it operation strategy. The decisions that are made by the organization from the top are very important for the company (Hynes, Michael, 23). In order to be able to set general direction for the company, and ultimately influence the overall strategy of the company, then there is a need to interpret clearly the functional areas of the company, including operations, finances as well as marketing. Another very critical area that needs to be explored by the Merck Company is to balance the market requirement and the operations resources. The strategy that has been adopted by Merck needs to examine and reflect on what the company is actually doing in relation to what the market requires. From the analysis, the company is much focused on cost than any other

Evaluating websites Essay Example | Topics and Well Written Essays - 500 words

Evaluating websites - Essay Example For academic purposes however, khanacademy.org may not pass as a valid reference because it is not considered a scholarly site but rather just a tutorial. It could however, support as reference to scholarly journals. With Hulu.com, the films and clips that would be shown there can be referenced because it is the film maker that matters in academic citation and not the medium or platform. I chose to evaluate these two websites because they are very popular among teenagers like me and I would like to figure out myself if they are valid and substantive website. I also would like to know if they could pass for academic referencing. After studying that valid academic websites must be supported by scientific methodologies, I concluded khancademy.org may not qualify to be used as a primary reference even if it is very popular among students like me. Of course these websites are very helpful and easy to use especially Hulu.com. Who does not want to watch movies and tv anyway? It is also almost plug and play the moment we have chosen our desired film or tv series so it is very easy to use. It is also very helpful because the interface of the website is very easy to understand and navigate (hulu.com). With regard to khanacademy.org, the website is also extremely helpful with the basics in case we want to brush up with it. The site however is not much of use to college students and especially if the lessons that we are dealing with are quite complex. In addition, it cannot be used as a primary reference and not a site for research. With regard to its ease of use, the website is also easy to navigate and the subjects are logically arranged and categorized so that they can be easily located (khanacademy.org). There are things that could be learned from khancademy.org than Hulu.com. Hulu.com is an entertainment website and in academic sense, there is nothing much to be picked from it. But if we want to have a cost effective

Collaboration and Consultation in Education Research Paper

Collaboration and Consultation in Education - Research Paper Example According to the research findings, it can, therefore, be said that collaborative learning is accomplished through the use of active engagement activities designed to exploit knowledge and to facilitate the sharing of the workload. In this method, learners can generate their individual parts of a larger assignment and then the parts are compiled as a group work. Collaboration is also a style employed by professionals in order to achieve a common and a shared goal. There are several terminologies that may be used interchangeably when discussing cooperation strategies. These terms include consultation, teamwork, collaborative work and collaborative consultation. However, the collaboration will be employed in this paper as the umbrella concept for the various collaborative strategies. Furthermore, there are different forms in which collaboration techniques are created. These are the student collaboration, teacher-student collaboration, teacher-parent collaboration, and student-parent co llaboration. All these forms of cooperation are primarily meant to help enhance the learning process of a student and to ensure they achieve the best in education. Collaboration is both advantageous in teaching and learning when it happens on various levels. Collective prioritizing of education by the students, teachers, members of a family, and the community as a whole is beneficial to teaching and learning process. The benefits will be more felt when all the stakeholders engage in activities that promote learning institutions, educators, and students. Additionally, the advantage of collaboration becomes more evident when teachers collaborate with other teachers to support innovative classroom practices. And aim at the high level of expectations for themselves and students as well. Further, the benefits of collaboration can be achieved more when students are granted the chance to work together for common academic goals in manners that improve learning.

Chinas Managed Float Essay Example for Free

Chinas Managed Float Essay The  RMB  is  unlikely  to  be  floated  freely  in  the  near  term  as  the  countrys  economyfaces  internal  difficulties  during  its  reform  drive  and  external  uncertainties  of  the  globaleconomy,  the  report  quoted  Xia  Bin,  a  member  of  the  monetary  policy  committee  of  thePeoples  Bank  of  China  (PBOC),  or  the  central  bank,  as  saying. To  create  a  relatively  stable  exchange  rate  formation  environment,  the  governmenthas  to  gradually  open  its  capital  market,  so  the  RMB  can  not  go  global  too  soon,China  moved  to  shift  from  a  conventional  dollar  peg  system  to  a  managed  floatingexchange  rate  system  in  2005,  which  means  the  central  bank  now  does  not  link  theyuan  only  to  the  U. S. dollar. Chinas  RMB  go  global  drive  requires  totally  free  exchange  of  the  yuan,  which  meansthe  regulation  of  capital  accounts  should  be  fully  opened,  and  that  exchange  rates  willbe  largely  determined  by  the  demand  and  supply  in  both  domestic  and  global  markets. But  the  country  can  not  handle  this  at  its  current  stage  of  economic  development,  Xiasaid. Xia  suggested  that  the  government  should  well  coordinate  policies  concerning  theexchange  rate,  capital  management  and  reform  while  matching  the  reform  of  itsexchange  rate  policy  with  that  of  capital  management  during  the  RMBs  regionalizationprocess.

Effect of Market Structures on Business

Effect of Market Structures on Business Market Structure Introduction There are diverse categorizations of markets and the structure of a business which denotes in which categorization it will descend into. Markets are separated as per to the business what it offers to the precise market. Structure of Business is established by the composition of market characteristics, and these aids to establish level and region of competition. The features in a market with the majority concentrated center on the numeral of purchasers and retailers, plane in which a product has a substitute, entry and exit easiness price, and the elevation of common dependence. These constituted variables are categorized in the subsequent market structures: perfectly competitive markets, monopolistically competitive markets, monopolies, and oligopolies (Colander, 2010). This paper is going away to talk about regarding the variety of market structures that will assist the local mayor recognize the structures of the several businesses in the city. Market structures Consecutively to recognize the diverse market structures, every structure requires being defined and discussed. The primary structure to be conversed is about perfect competition. This is a perfect structure that does not actually subsist in the real market, however; is used as a hypothetical model to evaluate additional structures to. Perfect competition is prominent for its elastic demand perfectly curves. Goods Price is like that the firm will simply construct normal profits (zero economic profits) in the extensive run. There is open entry and exit into the market in a market of perfect competition. Instances of a perfectly competitive market would be gas and milk. There might be a lot of suppliers of products, and if one dealer desires to raise their price superior than the price the market establishes, consumers will go away somewhere else to acquire the thing in need. Additional traits could comprise: no barriers of entry and exit, profit maximization, zero costs of transaction , homogeneous products, and ideal factor mobility.Devoid of the restraints of exiting and entering the market fresh businesses will not have an effect on the homogenous product market. At a clearing price of market a firm would be competent to put up for sale as much merchandise as it prefers while creating a profit. This might denote that there is equilibrium of market. With standard revenue superior to average cost the curve of demand will continue to be elastic. A monopolistically competitive market can be described as having a abundant amount of equally manufacturers and customers, customer’s inclinations for buying products is recognized; endurance in this locale consists of the seller endeavoring to differentiate specific products from competitors. A monopolistically competitive market might continue restrictions with entry and exit, the market is fundamentally assorted in nature, and a market of this might direct to the enhancement of non-price competition. Monopolistic Competition elucidates an industry compiled of a huge number of sellers. Each one of these sellers tenders a distinguished product, which is a service or good that has genuine or expected traits that are diverse from those of additional goods or services.[ Amacher (2011)] This is to pronounce that the similar product is being tendered even though it is revealed to be enhanced or better to the competitor products. A big example of this might be gas stations. Althoug h Chevron and Texaco are revealed as having better fuel owing to the cleaning additives owned inside the fuel, Aragon, Shell, and also Costco tender fuels with the similar quantity of detergency at a lesser price. The subsequent market structure is of an oligopoly. Oligopoly is a structure market that manages a product and is controlled by a minute number of firms that operate on one’s behalf. Prices positioned on products by each firm comprised are close up to matching since if one firm endeavors to alter the price, this will source further firms to do the similar thing. A major characteristic of a market structure of oligopolistic in the industry is the mutual dependence of firms. The function that oligopoly participates in the economy is that if the firm slashes prices, then further competing firms will counterpart the reductions of price. If the firm increases its prices of its goods, then further firms will not counterpart the price raise. There are only some different firms in an oligopoly market that powers 90% or of the market. Airline industries are a big instance of this. A number of further instances of this would be companies of cell phone in addition to companies that might form an alliance like the industry of oil. A monopoly comprises of a firm that has the throttlehold on a market. Any firm that has a structure of monopoly will have the majority control over price for its goods. The firms that function in competitive structures will have no power above their prices. Management of Price is when a firm has the capability to direct the products prices. Ownership of Public is not ordinary in monopolies and there are no takers of price. A monopolist makes certain the price for a product or service will certainly add to profits.There is no suitable alternate in this market to the merchandise being offered. Even though one may think that a product may perhaps be sold at any price enviable, which is not the case. Monopolies will in actual fact determine the rate that sells the majority products at an enviable rate. This lets the monopoly to maintain probable competitors out of the ring while making profit above the long-run. One instance of this would be utility company. Although there are no substitutes for customers, the government strides in and offers regulation of price to make certain that rates stay reasonably priced. It is in the paramount interest of the monopoly to stay rational, consequently conservation of the business. The Deutsche Telekom Company in Germany became tremendously avaricious with their phone service. The government strides in and separated the company initially backed by the government into 6 new subsidiary companies. Deutsche Telekom lost their grip on the power of monopoly that they owned. Market structure Real-life example A local market structureof a real-life example is the bakeries in the city. Even though there are 3 bakeries to select from, they all seize alike prices and the products are substitutable crosswise one another. This is an instance of a monopolistic competition. The market can with no trouble be moved in and out of and every firm is contending to sell the similar product as if it is superior or unique to the other. High entry barriers High end barriers renders to the subsistence of elevated start-up costs or additional hindrances that avert fresh competitors from effortlessly entering a region of business or industry. Barriers to entry benefit existing companies previously working in an industry since they guard an instituted companys revenues and profits from being carved away by fresh competitors. (Investopedia, 2013) An instance of this barrier would be a Credit Union. Consecutively to approach into the banking business, there requires being a considerable backing of cash together with the building capital, security systems, a vault, and the capability to contend on the open exchange market. In addition the capital barrier those positions in the means of such a business, there are as well official restrictions inflicted by the government. In additional firms such as in avionics, there are intellectual property and patent laws rights that might position as a high end barrier. Competitive pressures With high barriers of entry a number of the competitive pressures to markets are the capability to lessen the product price so low that a forthcoming firm cannot contend. There might as well be incidences of validity and consents to operate. A lot of monopolies support government officials which in turn aid to guard the firm by rejecting needed lawful documents and permissions to contend in the business. If a firm start-up were to effort to approach into the industry of airline they would not merely have to surmount the several millions of dollars required to sustain the jets, operating costs, and pay roll, however; they would as well require to have admission to terminals and be in conformity with the FAA. If they are not awarded sanction access through the FAA then they will by no means be competent to function and establish contending in the market. If they direct to sever through all of that, then the bigger airlines merely lesser the costs forcing the start-up firm into liquidation. Price elasticity of demand The demand of price elasticity in every market structure and its outcome on pricing the products inside the market’s structure diverge crosswise each market structure. Much or the cause is owing to competition and the proximity of substitutes accessible. For example a monopolistic competition has an demand of elastic against inelastic. This is since there are a lot of competing companies promoting the similar items. Consequently if the demand continues the same, however; one company lessens the rates severely, then that company will sell a great deal additional of its items even as the respite suffer sales. The price shifts crosswise the board in an oligopoly market all the way through the small number of companies that direct the market. All prices vary together comparably a great deal like an airline industry. If a cartel is structured, then the item turn out to be even additional inelastic. This is apparent with OPEC. In spite of whether or not the oil price rises or falls, the fuel demand will continue comparatively the same. A monopoly is as well additional of a structure of inelastic market. This is owing to the lack of competition. On the other hand, if not the firm is selling a total necessity, the price cannot be driven to irrational amounts as profit of long term will crash. There will be an equilibrium initiated that lets the firm to vend the items at a position that will make the most of profit over the continuing of the company. Role of the government The government roles have an effect on each of the market structure’s capability to price products in the course of numerous angels. One such way is the tax that it might place on a product for instance a sin tax. This tax is shoved from the firm to the buyer thus elevating the price of the product. If the item is elastic then the demand above the long-run will reduce. An additional way that the government influences each of the market structures capability to cost items is to inflict regulations on equally the manufacture and cost of an item. Farmers countenance this predicament for items for example wheat and grain. Even as they are proficient to grow far extra bushels a year, the government controls the quantity grown consequently as not to overflow the market out. This assists in regulating the price of goods diagonally the trade markets. Effect of international trade International trade have an effect on every market structure by regulating the quantity of a item that penetrates into one nation from another and with any tariffs initiated unto the item incoming into a country. Limiting the quantity of an item that is permitted into a nation is recognized as a quota. A quota will control or throttle the quantity of the item which is the identical as restricting supply. In view of the fact that supply is lesser the price of demand will raise. This denotes that the customer eventually ends up paying a great deal more for a desired good as it turn out to be additional restricted and desirable. Tariffs are initiated on goods as they flood in and do not control the quantity of an item. A fraction of a tariff will approach back as income for the government. Even though several price increases would ensue to the consumer, the elasticity of the item would not be as rigorous as the supply and demand level would stay constant. [Hubbard, R. OBrien, A. (2010) ] Conclusion In conclusion this paper has dealt with a variety of structures of market that will aid the local mayor recognize the structures of the lot of businesses in the city. The subsequent structures of market were dealt: monopolistic competition, perfect competition, monopoly and oligopoly. For each one of these topic structures of market characteristics were discussed. A real-life market structure in the local city was recognized with relative to the market characteristics. Subsequently, the paper discussed how high entry barriers into a structure of market effected profitability of long-run of the firms. Pressures of Competition that are existent in markets with high barriers to entry were clarified. Then the paper conferred the price elasticity of demand in every market structure and its outcome on pricing of its items in every market. Subsequent to that an explanation of how the function of government affects every market structure’s capability to price its items was offered. In conclusion, the outcome of international trade on every market structure was discussed. References Microeconomics principles and policies. Amacher, R., Pate, J. (2013). San Diego, CA: Bridgepoint Education, Inc. Economics (7th ed.). Colander, D. C. (2008). Retrieved from The University of Phoenix eBook Collection. Differentiating between Market Structures University of Phoenix. (2008). [Multimedia]. Economics (3rd ed.). Hubbard, R. OBrien, A. (2010). Boston, MA: Prentice Hall. Barriers to Entry, (2013), retrieved from Investopedia http://www.investopedia.com/terms/b/barrierstoentry.asp

Iran- Contra Scandal :: essays research papers

Over the centuries ancient Roman society has played a significant role in the creation of a common culture like our own. The material remains from ancient Rome have preserved valuable evidence for the status and accomplishments of the Roman people. Because so many aspects of ancient Roman civilization are respected and followed in society today, such as Roman art, Roman roads, and Roman law, it is important to understand the similarities and differences that ally within the two cultures. One aspect of Roman culture that I found interesting to focus on is the tradition of marriage. A traditional Roman marriage is completely different than a traditional marriage in our culture today, essentially because of the significant change in the role of women over time. Because Roman women had hardly any rights, their role in marriage was extremely limited. Women in ancient Rome barely had any rights by law, so they had very few opportunities to live independently. Roman women were expected to marry at a young age, usually when they reached their teen years or early twenties. A Roman woman's subordination in marriage began even before she became engaged, as it was tradition for a woman's father, or legal guardian to arrange the marriage of their daughters. In her work on Roman Marriage, Susan Treggiari sites a preserved document of a Roman mother explaining the rules of engagement to her daughter: "When you become engaged to someone, your father, will inform you of the fact. An engagement should come on a young girl as a surprise, pleasant or unpleasant, as the case may be. It is hardly a matter that she could be allowed to arrange for herself" (Treggiari, 125). The legal independence of women was also constrained by the institution of guardianship. If a woman outlived her father, it was required by law in Rome to ha ve a guardian, or tutor. The legal sources about the reasons women needed guardians are specific, as they describe women as lacking judgment, were easily victimized, basically because they claimed women were fools. Roman women were expected to be married, primarily because it was almost impossible for them to live independently, but also because single women, or maidens, were just not accepted in society. Most single women though were of the lower class, and had little opportunity to obtain a better life. "Free-born women continued to scratch our a living as laundresses, weavers, butchers, and fish-sellers, or in one of the occupations that are recorded on inscriptions at Pompeii: bean-dealer, nail-seller, brick-maker, even stonecutter.

Joint Stock Company

Joint Stock Company Company A company is an artificial person created by law, having a separate legal entity, with a perpetual succession and a common seal. It is an association of individuals for the purpose of earning profit. It has a capital divided into a number of shares, of which each member possesses one or more shares and which are transferable by its owners. Joint Stock Company has been defined by many eminent authors, jurists and institutions. Some of these definitions are given below – According to L. H.Haney – â€Å"A company is an artificial person created by law, having a separate legal entity, with a perpetual succession and a common seal. † According to Company Act 1994 – â€Å"Company means a company formed and registered under this Act or any existing company. † [Section 2(1. c)] According to Chief Justice Marshall – â€Å"A company is an artificial being invisible, intangible and existing only in the eyes of law. † T he system of joint stock organization is very useful for large undertakings for which large capital is required.It is an incorporated association created by law, having distinctive name, a common seal, perpetual succession, limited liability etc. formed to carry on business for profit. Characteristics of Joint Stock Company The most distinguishing characteristics of a joint stock company can be stated as follows – 1. Incorporated association : A company is an incorporated association. It comes into existence only after registration under the Companies Act. 2. Voluntary association : A company is an association of many persons on a voluntary basis. So, a company is formed by the choice and consent of the members. . Artificial legal person : A company has a legal personality and as such it is regarded by law as an artificial legal person. A company has the right to acquire and dispose of the property. 4. Separate legal entity : A company has a legal entity distinct from its mem bers. It has an independent existence. 5. Common seal : The common seal with the name of the company engraved on it, is used as a substitute for its signature. 6. Perpetual succession : The company has perpetual succession as its existence is not affected in any way by the death, insolvency or exit of any shareholders. . Transferability of shares : The shareholders can transfer their shares to any person of their choice. It enables a shareholder to increase or decrease his investment in a company at any time. 8. Limited liability : Liability of the members of a limited company is restricted to the face value of the shares purchased by them. The personal property of the members cannot be attached to satisfy the claims of creditors of a company. 9. Separation of ownership from management : The company is not managed by all the members because the number of members may be large.The authority to manage the whole affairs is conferred to elected representatives of members known as directo rs. 10. Statutory regulations and government control : The company is governed by the Company Act and it has to follow various provisions of the aforesaid Act. A company has to comply with numerous statutory requirements. 11. Rigidity of objects : The type of business in which the company would participate must be mentioned in the ‘object clause’ of its Memorandum of Association. 12.Strict legal formalities to commence business : In order to form a company, it is necessary to submit certain documents to the Registrar Companies such as memorandum of association, articles of association, prospectus, list of directors etc. 13. Social benefits : Company form of business enables better utilization of available resources and thus ensures that society have benefited. 14. Accountability to shareholders : All the affairs of the company are to be disclosed to the shareholders so that they may come to know about the prospects and other problems of the company as a whole. 5. Public confidence : The financial statements of a company are published every year. Thus public can have clear idea about the activities of the company so a company enjoys greater public confidence. 16. Scope for expansion : A company is better placed as regards the facilities of the growth, development and expansion of its business. Memorandum of association According to Company Act 1994 – â€Å"Memorandum means the memorandum of association of a company as originally formed or as altered in pursuance of this Act. â€Å"According to Lord Cairns – â€Å"The memorandum of association of a company is its charter and it defines the limitation of the power of the company. † So we can say that the memorandum governs the relationship of the company with the outside world and it is the foundation upon which the super-structure of the company is built. Clause of Memorandum of association 1. Name clause : The name of the proposed company is mentioned in this clause. The name of a company must end with the word ‘Limited’ the word ‘Public Ltd† and the word â€Å"Private Ltd†. All the time of selecting the name of the company the promoter should follow the following things – . The name should not be identical with the name of any existing company. b. The name should not create and impression that the company is carrying on the business of some other existing companies. c. The name should exclude words like crown, emperor, empire, president or prime minister’s name. 2. Address clause : The memorandum must contain the full address of the register office. 3. Object clause : This is the most important clause in the memorandum which states what the company can do. The object must include all the possible lines of business in which company is likely to be engaged.Usually this clause is so drafted that the company may enjoy wide fields for activities in future. 4. Liability clause : This clause states the nature of l iability of the members of the company. a. Incase of a company limited by shares, member’s liability is limited to face value of the shares. It means that when the shares are fully paid up, members are free from any liability. b. Incase of a company limited by guarantee, the liability clause must state the extent of liability of each individual member in the event of its being wound up. c. Incase of an unlimited company, the liability clause does not appear in the memorandum of association. . Capital clause : This clause states the amount of capital with which the company is registered or authorized to conduct business and the division of capital into equity share and preference share capital should be mentioned. 6. Association clause : This clause contains a declaration by the person(promoter) who signed the memorandum to form the company in a legal way for a legal purpose and to take minimum share of the company. Memorandum of association According to Company Act 1994 †“ â€Å"Memorandum means the memorandum of association of a company as originally formed or as altered in pursuance of this Act. â€Å"According to Lord Cairns – â€Å"The memorandum of association of a company is its charter and it defines the limitation of the power of the company. † Articles of association The Articles of Association is the second important document of Joint Stock Company. It contains the rules and regulations for the internal management, administration and organization of the company |Memorandum of association |factors of distinguish |Articles of association | |Memorandum is the fundamental charter of a |Nature |Articles are subsidiary to the charter. |company. | | | |Memorandum states the relationship between |Scope |Articles contain provisions for internal management of| |the companies an outsider. | |the company. | |Memorandum defines the objects of the |Objectives |Articles define the rules for carrying out the objects| |company. | |of the company. | |Memorandum can’t be altered easily.It |Alteration in the document |Articles can easily be altered without the | |requires court information. | |confirmation of the court. | |Registration of memorandum is compulsory |Registration |Registration of articles is not compulsory for a | |for any company. | |public company. | |Memorandum of association is based on the |Application of rules |Articles of association are based on the doctrine of | |doctrine of constructive notice. | |indoor management. |It has no optional. |Optional |Public company may optional for table A for the | | | |incorporation purposes. | |Memorandum of association is always |Misunderstandings. |Articles of association can be changed in | |unchanged in misunderstandings. | |misunderstandings. | |Any work out of its subject matter is |Illegal work |Any work can be done beside it but in the range of | |illegal. | |memorandum. |Memorandum definite the working area. |Working area |Articles are not any wo rking area. It orders process. | Dissolution means dissolve or close. Dissolution of company means to close or dissolve of any existing company. The process by which a company can be closed is called company’s dissolution or winding up of a company. Company is an artificial personality organized by an individual organization created by law. According to 1994 company act, â€Å"To dissolve or winding up of any existing company the activities of company’s is called dissolution of company. † A company is said to be dissolved when it ceases to exist as a corporate entity. † —C. B. Gupta â€Å"Winding up company is a process by which its life comes to end and the assets of company is utilize for the help of creditors and members. † —Prof. Gower In 1994 company act section 234(1) there mentions three methods of dissolution of company. These are: 1. Mandatory dissolution by court. 2. Dissolution by own will. . Dissolution by court’s su pervision. 1. Mandatory dissolution by court [Section 234-1(A)]: In circumstances the causes by which a company can be dissolved mandatorily by the law of court by the application of company’s shareholders, creditors or company’s registrar are: 1. Taking decision of dissolution in special meeting. 2. Failing to start a business in one year after the date of registration. 3. To close any company one or more year continuously without any legal reason. 4. Lacking of minimum members of a company according to law. 5. Failure to pay the loan five thousand or above. . Any reason of followings: a. Inefficiency in direction. b. Related with illegal job. c. Facing loss continuously. d. Neglecting of shareholders or their rights etc. Based on above causes court can take the decision of winding up and recruit a liquidator who firstly distributed the asset between third parties and rest of between shareholders. B. Dissolution by own will [Section 234-1 (B)]: Creditors or shareholde rs of any company can dissolve their business whenever they wish. In this circumstances, shareholders and creditors can winding up the business without taking any help of court.Causes by which a company can be dissolved by own will: 1. Taking decision of dissolution in special meeting by creditors or shareholders. 2. Formed any company for pre-determined purpose or objective. 3. If any company is not able to pay their liabilities. 4. Direction of company is proved not profited. C. Dissolution by court’s supervision [Section 234-1 (C)]: In the circumstances of company’s dissolution by own will by the application of any parties a company can be dissolved by court’s supervision. Causes of dissolution by court’s supervision: 1.To take decision for mistreating with creditors or shareholders. 2. Collection and selling of company’s asset illegally. If court takes responsibility of dissolution for any reason it recruits a liquidator to solve dissolution pr ocess. (Section 319) Share is a unit of capital. Capital is created by selling of shares or exchange. But, share can be different according to their price, rights, transferability, advantages etc. Mainly share is divided into four types. Such as: 1. General share. 2. Preference share. 3. Deffered share. 4. Special share. 1.Ordinary share: Ordinary shares are those shares on which no special privilege is attached. In other words, all the shares except preference shares are called ordinary shares. It also known as equity share. Ordinary shareholders collect their profit after distributing profit among the shareholders of the preference share. But, the rights, responsibility, duties etc. of the company are performed by them. â€Å"All the shares except preference are called equity share. † —J. K. Mitra Some characteristics of ordinary share are given below: . Ordinary shareholders get their profit after distributing to the preference shareholders. 2. In case of dissolutio n of company they have equal rights to get their assets. 3. They can take participation to direct the company. 4. They can take part in company’s meeting. 2. Preference share: Preference shares are those shares to which some preference is attached in terms of: (a) payment of dividend, (b) return of capital. (c) both. In the first case, the preference shareholders are entitled to receive a fixed rate of divided before the dividends given to equity shareholders.In the second case, preference shareholders are entitled to get back their capital in priority to equity shareholders in the event of liquidation of the company. Some characteristics of preference share are given below: 1. Rate of return is guaranteed. Thus, the amount of dividend to be received is certain. 2. Preference shares are better suited for conservative investors, who care more for security of investments and certainty of income. 3. The holders of this share get a fixed rate od dividend even if the company makes a larger amount of profit.Preference share can several types. Such as: 1. Cumulative preference share: Preference share are cumulative where the preference dividend, if not paid in one year is carried forward to succeeding years. 2. Non-cumulative preference share: The holders of these shares have no claim for the arrears of dividend. They are paid a dividend if there are sufficient profits. 3. Participating preference shares: These share holders are entitled to participate in the surplus profits of the company in addition to their usual fixed rate of dividend. 4.Non-participating preference shares: Preference shares on which only a fixed rate of dividend is paid, are known as non-participating preference shares. 5. Redeemable preference share: The holders of redeemable preference shares can get back their capital at the expiry of a certain period or at the option of the company as may be mentioned in the articles of association. 6. Irredeemable preference share: The preference sha res that can’t be redeemed unless the company is liquidated are known as irredeemable preference shares. 3. Deffered share: The owner of those shares get chance to take profit or to exchange capital after meeting.To bear the preliminary or other expenses company provide these shares in exchange of cash. 4. Special share: Some special shares are given below: 1. Bonus share: Company can’t provide all of its profit to shareholders. It deposits some part of profit at the reserve fund. When the amount of reserve fund is more than sufficient or in crisis of company; the amount of reserve fund is brought to company as capital as like as cash and shares are distributed to shareholders. According to J. K. Mitra,† Shares which are issued free of cost to the existing equity shareholders are known as bonus shares. 2. Right share: Sometimes Company increases their capital by distributing new shares. Old shareholders are get preferences at the time of distribution of new share s. In this case new shares are divided among them by their profit ratio. 3. Non-par value share: Non-par share refers those shares which are not fixed from the beginning but it determines based on asset after a specific year is called non par value share. In Bangladesh it is not popular. Minimum subscription means the minimum amount of capital which a company requires for the starting of the business.The minimum subscription should be received within 120 days after the date of the issue of the prospectus. A company can’t allot any shares unless the minimum subscription has been raised through the application for shares. If this minimum amount is not collected within the stipulated time period, the amount received from the applicants must be returned within the next 10 days (i. e. within 130 days after the issue of shares) â€Å"The minimum subscription is to be fined by the directors or by the persons who have signed the memorandum. —Sen. & Mitra â€Å"Minimum subscr iption is the minimum amount which is the opinion of the directors or of the signaturories of the memorandum arrived at after due enquiry. † —M. C. Shukla The amount of minimum subscription is fixed by the directors. Minimum subscription is necessary to cover the following expenses: 1. Preliminary expenses. 2. Underwriting commissions on sale of shares. 3. Working capital. . The cost of any property purchased or to be purchased. 5. Payment of any money borrowed for the above purpose. 6. Any other necessary expenditure. A prospectus is a document inviting the general public to subscribe to the share capital of a public company. A prospectus is issued by a public company after obtaining the â€Å"Certificate of Incorporation’ from the register. â€Å"Document containing offer of shares or debentures for sale to be deemed a prospectus. † –According to company act 1994 section 142 A document containing detailed information about the company and invit ation to the public subscribing to the share capital and debentures issued is called prospectus. † —S. S. Sarkar and Others From the view point of above discussion we can say that- 1. Prospectus is an invitation letter to public. 2. It must be served from company. 3. It is a complete description of shares and debentures. Finally it can say that to raise capital from public limited company issues prospectus.If the shares are divided between the partners then to start the business, partners should prepare an additional prospectus. To apply for commencement it is necessary to submit prospectus or additional prospectus. 3. Distinguish between Private limited Company V/S Public Limited Company. |Private limited company |Basis of differentiation |Public limited company | |Two |Minimum number of members |Seven | |Fifty Maximum number of members |Unlimited | |Restricted |Transferability of shares |Freely transferable | |Not allowed |Raising capital from public |Allowed | |Mini mum-Two |Number of directors |Minimum-Three | |Maximum-Unlimited | |Maximum-A specified by the articles | |After obtaining certificate of |Commencement of business |After obtaining certificate of | |incorporation | |commencement. |Not required |Holding of statutory meeting and submission of |Required to be submitted to the | | |statutory report |registrar of the companies. | |Not required |Filing of prospectus or a statement in the lieu of |Required | | |prospectus | | |Name must end with the words |Name of company |Name must end with the word ‘Limited. ’| |‘Private Limited. | | | |Two |Quorum at the annual general meeting |Five | |Need not retire by rotation. |Rotation of directors |Retire by rotation. | |Simple and cheap. |Procedure for formation |Complicated and relatively costly. | |No need to maintain |Index of members |Index to be maintained. | |Low protection |Protection to members |High protection. | |Possible. |Ability to make quick decisions |Not possibl e. | |Small |Financial and managerial resources |Large. | |Low Scope for expansion |High. | |Not allowed. |Disposal of shares |Allowed. | |Less liquid. |Liquidity of investment in shares |Greater liquidity. | 4. What is artificial personality? Joint Stock Company is an organization which is formed and directed by company act 1994. According to 1994 company act,† Any Company is formed and registered under this act is called company. † â€Å"A company is an artificial being invisible, intangible and existing only in contemplation of law† —John Marshal Company is an incorporated association which is an artificial person created by law having a common seal and perpetual succession,† —Sherlekar and Sherlekar Artificial personality of the company means the personality as like as person. These are: 1. Lawful: It is formed and registered by company act. 2. Common seal: It has a common seal which is used in all documents. 3. Lawful rights: Company act gives some right to it. 4. Transaction by own name: It can deal by its own name like other person. 5. Direction of case: A company can able to case on another company like person. 6. Fixed existence: A company is formed by law.So, it has fixed existence. From the above discussion we can say though company is not any person but it seems as a person because it is created by law. So Y. K. Bushan said,† A company may be defined as an artificial person recognized by law. † 5. Who is underwriter? The person or organization who takes responsibilities to sale the shares of public limited company by an agreement is known as underwriter. Underwriter takes responsibilities to sale the shares of public ltd. company by a certain commission. If the underwriter fails to sale the shares then he takes the liability for rest of the shares. Functions of underwriter are known as underwritten. The term underwriter means any person who has purchased from an issuer with a view to, or sells for an issuer in connection with. † —Securities act 1933 2(11) â€Å"A person who underwrites issue of stocks,bonds etc. † —Webster’s new World Dictionary â€Å"A person or company that underwrites an issue of securities. † —Charles J. Woelfel From the above definitions we found some characteristics of underwriter: 1. Underwriter may be any person or organization. 2. It can be performed underwritten activities as a part of business. 3. They purchase shares, bonds, debentures etc. for a certain commission. 4. They provide surety to sale shares, stock, debentures of company. 5. They take all responsibilities though the shares are not sold.Finally it can be said that underwriter is a businessmen who helps company to collect capital by selling shares, debentures etc. 6. Method of retirement of company directors. Director of the company means the members who are voted for directing the company. They are also determined company policies and man y other activities for business. Directors take their position by the vote of members, board of directors, company act as well as government. To remove the director for its place is also maintain some rules. Such are given below: 1. Special decision: In special meeting, by the decision of shareholders any directors can be removed from his post. 2. Statutory removal: In company act 108(1) is said,† The position of director can be removed if- 1.If the director failed to gain preference share in given time. 2. If the director is announced mentally sick. 3. If the director be 4. If he failed to pay the call money in between six months. 5. If the director was absent in meeting of board of directors without permission. 6. If the director make any agreement without the permission of board of directors. 7. If the director involved in any illegal work. 8. If the director involved in crime. 3. Removal by government: Director can be removed from his post by government and also by shareho lders and creditors with the help of government. 7. What is an article of association? Articles of AssociationThe Articles of Association is the second important document of Joint Stock Company. It contains the rules and regulations for the internal management, administration and organization of the company. They define the power, rights and duties of directors or other officers of the company and regulate the relations between the company and its members. The main purpose of articles of association is to execute the object clause of the memorandum. â€Å"Articles are the internal laws of a company. Article devise ways for the internal management of the company. † —Lord Brobene The articles of association are the regulations or bye-laws which govern the internal management and conduct of the affairs of the company. † —M. C. Shukla It must be framed within the items of the memorandum of association and provisions of the Company Act. A company limited by sh ares (Public Limited company) may adopt ‘Table A’ a model-Article as provided by Company Act as its articles. But a Private Limited company or a company limited by guaranty must have their own articles. 8. What is ‘Certificate of commencement’? A private company can commence business immediately after the grant of Certificate of Incorporation.A public company cannot commence business until it obtains a ‘Certificate of Commencement’ in addition to the ‘Incorporation Certificate’ from the register of companies. At first public limited company submit a application to registrar according to Company Act 1994 Section- 4. If all the responsibilities are performed by public limited company accurately then registrar gives a letter or certificate to public limited company. The matters which are included in certificate of commencement are described at below: 1. Name and address of registered office. 2. Issuing date of Certificate of commencem ent. 3. Date of Commencement. 4. Certificate no. 5. Office seal. 6. Name and profession of registrar with seal and signature. 7. Description of conditions. (If exists. )The ‘Certificate of commencement’ is issued in favour of a public company by the registrar, only when the following conditions are fulfilled: 5. Describe the advantages of public limited company than private limited company. Private limited company: A private company is an incorporated body registered under the Companies Act with three important respective provisions in the ‘Articles of association’. Public limited company: A public limited company is an association consisting of seven or any higher number of members, which is registered under the Companies Act. The advantages of public limited company over private limited company are described at below: 1. Liability: In public limited business the liability of each share holders are limited by their shares.But, in private limited company th e liability of shareholders is huge. 2. Sufficient capital: The shareholders of public limited company are more than private limited company. So, public limited company enjoys more capital than private limited company. 3. Membership: In public limited company there is no upper limit to the number of members. But, in private limited company it is limited. 3. Financial resources: Public limited company generally refers a huge organization. So, collection of financial resources is comparatively more than private limited company. 4. Economies of large scale production: Huge financial resources lead to a phenomenal growth in the size of the company.Economies may relate to greater division of labour, specialization, more effective use of resources, bulk purchase of raw materials at lower prices etc. Private limited company can’t get sufficient advantages as like as public limited company. 5. Large size: Private limited company is not a large size business. It generally established in one specific area. Public limited company is a large scale business. It has branches at all over. 6. Transerferibility of shares: The shares of private limited company are not easily transferable. But, the shares of public limited company are simply transferable. 7. Perpetual succession: Public limited company is formed by law.So, it the company is not being closed for the poor condition of shareholders. But, private limited company can be closed on its measurable condition. 8. Public confidence: Public limited company is directly related with public. So, they can acquire confidence of public. But, in private limited company this possibility is not exist. 9. Creation of employment: Pubic limited company is a huge company. So, the opportunity of creation of employment is more than private limited company. 10. Research: Public limited company always tries to distribute their products worldwide. So, they always research to develop their product more and more. In that case private li mited company is not so superior.Finally we can say that public limited company is more advanced than private limited company. But, private limited company has enjoyed some special advantages which can’t be enjoyed by public limited company. Merits or Advantages of a company form of organization The following are the merits of a joint stock company – 1. Accumulation of huge financial resources : The company form of business facilitates mobilization of large amounts of capital for investment in industries. 2. Economies of large-scale production : The company form of business can enjoy all the benefits of large-scale production such as minimum cost of production and maximum profit. 3.Scope for expansion : A company can easily expand its managerial capacities and financial resources. It has great potential for diversification and growth. 4. Stability of existence : The organization of a company as a separate legal entity gives it a character of continuity. As an incorpora ted body, a company enjoys perpetual existence. 5. Transferability of shares : The shares of a public company are freely transferable. The shareholders are at full liberty to dispose of their shares to any person they desire. 6. Democratic control : The company is managed on the principle of democracy. The boards of directors who manage the company are elected by the shareholders.The directors are responsible and accountable to the shareholders. 7. Managerial efficiency : A company can secure the services of highly qualified persons who are experts in different fields of business management. 8. Stimulation to savings and investments : The company is an effective media of mobilizing the scattered savings of the community and investing these savings for commercial purposes. Insurance companies, banks and other financial institutions invest their money in the shares of different joint stock company. 9. Tax relief : The company enjoys greater tax relief as compared to other forms of bus iness. Company pays lower tax on a higher income as it pays tax on the flat rates. 10.Diffused risk : The membership of a public company is large. The business risk is divided among several members of the company. 11. Statutory regulation and control : Formation and working of companies are well regulated by the provisions of the Company Act. These strict regulations safeguard the interests of shareholders and people who deal with the company. 12. Public confidence and popularity : A company is guided and controlled by strict regulations and government control. These ensure public confidence and popularity. 13. Social responsibilities : Due to the existence of the company form of business, society is benefited in different ways.So we can say that the joint stock company constitutes an important advancement in the modern emerging commercial structure with its different advantages. Demerits or disadvantages of Joint Stock Company The following are the disadvantages of a joint stock co mpany – 1. Adherence of too many legal formalities : The formation of a company requires adherence of too many legal formalities. The establishment and running of a company would prove to be troublesome because of complicated legal regulations. 2. Concentration of power in few hands : Shareholders of the company have practically no say in the affairs of the company. The directors of the company become self-centred and they do not care for shareholders. 3.Excessive Government control : A company has to observe too many provisions of different laws imposed by the government. 4. Undue speculation in shares of the company : Undue speculation in shares of a company is injurious to the interests of the shareholders. 5. Fraudulent management : The promoters and directors may indulge in fraudulent practices. The unscrupulous directors may present a rosy picture of the company in its annual report. 6. Bureaucratic control : Quick decisions and prompt action are absent in the managemen t of a company. It makes a company an inflexible enterprise. 7. High nepotism : In companies, employees are selected not on the basis of ability but on the basis of personal interest of the management. 8.Inflexibility in management : A company cannot quickly adjust with the changing conditions in the market because of its complex structure and legal obligations. 9. Monopolistic control and exploitation of consumers : Joint stock companies facilitate formation of business combinations which ultimately lead to monopolistic control and exploitation of consumers. 10. Social abuses : Evils of factory system like installation, pollution, congestion of cities are attributed to the company form of organization. Moreover, the close and cordial relationship between the management and employees is difficult to maintain. Formation of Joint Stock Company Joint Stock Company is formed under the Company Act followed by the country where the company is established.In Bangladesh a joint stock compan y whether a public or a private may be formed by registration under the Company Act 1994. The whole process of company formation in any country may be divided into three Distinct stages – a. Promotional stage : The process of conceiving an idea and developing it into a concrete of project to be accomplished by the incorporation and floatation of company is called promotion. The number of promoter in Public Limited company who take necessary steps are minimum two and maximum 50 in case of Private Limited company and minimum seven, maximum contains by share in Public Limited Company. These are four main stages in the promotional stage of a company – ) Identifying the idea : The promoters at first conceive an idea and identify the business opportunities. ii) Detail investigations : Detail investigations of – a. Market condition b. Demand for the products c. Estimated cost of production d. Estimated profit margin e. Capital requirement iii) Assembling: After a throu gh investigations of project the promoters decides whether they will take risk or not. iv) Selection of the name of the company and submission : In this step, the company prepare two documents – a. Article of association b. Memorandum of association b. Incorporation stage : When the promoters can finish the primary arrangements, they apply in prescribed from to the register of joint stock company.And along with the application, they submit with the register, the registration fee as per Table(B) of the Company Act and a copy of each of the following documents for the registration of the company. a. A copy of the memorandum of association b. A copy of the articles of association c. A statement of nominal capital d. The address of the registered office of the company (selected by the registrar) e. A declaration to the effect that all legal requirements have been duly complied with. Incase of Public Limited Company the following document is to be estimated – a. A list of d irectors b. A written contest of each director to act as such and to take up the qualifications shares.The registrar will examine all this documents and if he is satisfied that every thing is in order, he will then enter the name of the company on the register maintain his office and issue a certificate known as the Certificate of Incorporation which gives the company a legal existence. c. Floatation stage : When a company has been incorporated it has to raise capital sufficiently to commence business and to carry it on with satisfactory. The Private Limited Company may obtain this capital from friends and relatives. A Public Limited company raises the greater part of the capital from the general public by issuing a prospectus. d. Commencement: A Private company can start its business after obtaining a Certificate of Incorporation but a Public Limited company cannot. It must receive another certificate known as Certificate of Commencement.The registrar will issue this certificate on fulfillment of the following requirements – a. Minimum subscription has been raised. b. The direction has been taken up and paid for their qualification shares. c. The prospectus on the statement in lieu of prospectus has been filled. d. A declaration has been made to the effect that all legal requirements have been duly complied with. It is to be noted that, a Public Limited company is to start business within one year from the date of receiving the Certificate of Commencement. Memorandum of association According to Company Act 1994 – â€Å"Memorandum means the memorandum of association of a company as originally formed or as altered in pursuance of this Act. â€Å"According to Lord Cairns – â€Å"The memorandum of association of a company is its charter and it defines the limitation of the power of the company. † So we can say that the memorandum governs the relationship of the company with the outside world and it is the foundation upon which the su per-structure of the company is built. Clause of Memorandum of association 1. Name clause : The name of the proposed company is mentioned in this clause. The name of a company must end with the word ‘Limited’ the word ‘Public Ltd† and the word â€Å"Private Ltd†. All the time of selecting the name of the company the promoter should follow the following things – d. The name should not be identical with the name of any existing company. e.The name should not create and impression that the company is carrying on the business of some other existing companies. f. The name should exclude words like crown, emperor, empire, president or prime minister’s name. 2. Address clause : The memorandum must contain the full address of the register office. 3. Object clause : This is the most important clause in the memorandum which states what the company can do. The object must include all the possible lines of business in which company is likely to be e ngaged. Usually this clause is so drafted that the company may enjoy wide fields for activities in future. 4. Liability clause : This clause states the nature of liability of the members of the company. d.Incase of a company limited by shares, member’s liability is limited to face value of the shares. It means that when the shares are fully paid up, members are free from any liability. e. Incase of a company limited by guarantee, the liability clause must state the extent of liability of each individual member in the event of its being wound up. f. Incase of an unlimited company, the liability clause does not appear in the memorandum of association. 5. Capital clause : This clause states the amount of capital with which the company is registered or authorized to conduct business and the division of capital into equity share and preference share capital should be mentioned. 6.Association clause : This clause contains a declaration by the person(promoter) who signed the memoran dum to form the company in a legal way for a legal purpose and to take minimum share of the company. Articles of Association The Articles of Association is the second important document of Joint Stock Company. It contains the rules and regulations for the internal management, administration and organization of the company. They define the power, rights and duties of directors or other officers of the company and regulate the relations between the company and its members. The main purpose of articles of association is to execute the object clause of the memorandum. It must be framed within the items of the memorandum of association and provisions of the Company Act.A company limited by shares (Public Limited company) may adopt ‘Table A’ a model-Article as provided by Company Act as its articles. But a Private Limited company or a company limited by guaranty must have their own articles. Private Limited Company A private company is an incorporated body, registered under t he Company Act with three important restrictive provisions in its ‘Articles of Association’. A private company is one which – 1. Restricts the rights of its members to transfer their shares in the company. 2. Limits the number of its members to fifty. 3. Prohibits any invitation to the public to subscribe for any shares or debentures of the company.