A Computerized World Essays - Hacker, Software, Computer Programming

A Computerized World Since the first computer was made in the late fifties, the technology has developed extremely. Computers which took the place of a living-room then, are now being made in creditcard-formats. More and more areas are being taken over by the computer. As computers are capable of handling large amounts of data in a very short time, they are well suited for wordprocessing. I guess that it won't be long till all the paper-archives are replaced by magnetic tapes and diskettes. A diskette can contain much more data than a written page, and it takes less place It is possible to get the Norwegian telephone book on just one diskette. In near future, a new area will be taken over by computers, namely maps. Different routes are stored on one single compact-disk. Imagine, simply insert the CD into the CD-driver in your car, and tell the computer where to go. The rest will be done automatically. This will be a safer, faster, and more comfortable way to travel. Another new area, called "virtual reality" is currently being tested. This is a way to simulate reality on a monitor. In order to feel this so-called reality you have to wear special electronic glasses and an electronic suit. Fastened to the suit are sensors, which send information to the main computer. This computer works with the data and displays them on the electronic spectacles. This is a technique which use three-dimentional views, therefore the scenery seems incredibly realistic. If you want to be a boxer, simply change the scenery on the main computer, and you are in the ring. Today, many kids have got video games. You could say these games are the present's answer to ludo and monopoly. In a way, it is a great advantage that the kids are being presented to computors at an early age, because they will definitely have to use them later, when they start to work. In the future there will be few occupations which won't use computors, one way or another. But the videogames are often being presented as something negative, which hinder the kids from doing homework and other more useful activities. This partially true, if they do much of it. But generally, I think the young people's contact with computers is positive. In Norway today, it is getting more common to have a computer at home. You can use a personal computer to keep household-budgets or other economics. It is also possible to get in touch with your bank and transwer money while you're in your sitting-room. It is possible to contact other databases and gather information from them. The use of computers has lead to other criminal actions. "Hacking" is one of them. A "hacker" steals and manipulates information from other databases. These crimes can be very harmful. In The USA, hackers have managed to break into NASA's database. The computer-programmes, the software, are extremely high priced, sometimes they are even more expensive than the hardware. Therefore it is not unusual to make copies of these programmes. This is strictly illegal, but nobody seems to care, because it is difficult to control it. Software producers loose BILLIONS of dollars each year because of this. Many methods have been invented to prevent this, but since the "hackers" often are more intelligent than those who make the software, I doubt that there will ever be a successfull way to hinder this.

The eNotes Blog Take Note! 6 Tips to Enhance Your Notes for SuccessfulStudying

Take Note! 6 Tips to Enhance Your Notes for SuccessfulStudying Notes are a great way to stay engaged with material in class, whether it’s presented in a lecture or a discussion-style format. Not all notes are created equal, however- some strategies in particular can maximize the quality and effectiveness of your notes. Consider these six tips to enhance your notes this school year. 1. Use simple, personal shorthand The great thing about notes is that no one else is looking over your shoulder to review them; the only person they need to make sense to is you! You can use any shorthand you like, which in turn makes note-taking in class more streamlined: you’ll spend less time actually writing and have more energy to comprehend the information and engage with it in the class. Shorten words that you use often, like because and therefore. Prioritize writing keywords, and compose sentences that are as short as possible. You can even create symbols (asterisks, round or square bullet points, other punctuation marks, etc.) that indicate questions you have, keywords to remember, or definitions to look up later. 2. Outline Outlining material as you hear it is an excellent way to organize information you’ll need to know for a test. Like a traditional outline, use numbers and letters to create a hierarchy of information, which allows your mind to group particular ideas and concepts together. You might also consider the Cornell System, which divides the paper into three sections: the largest section is for traditional notes, a skinny column is next to it for writing â€Å"cues† or questions you have about notes, and a two- to three-sentence summary of all the information can sit at the bottom. Any of these methods can improve the structure of your notes and help you process the material more efficiently. 3. Mind map Try mind mapping for a change of pace in your notes. Think of a mind map as a graphic organizer, like the kind you made in elementary school. Not only great for visual learners, mind mapping can help any student make stronger connections between ideas and concepts. In this method, you’ll write an idea on your page and then draw a series of branches connected to the idea. Details can be recorded on smaller branches, which can then be connected to other larger ideas. As a related idea, try drawing pictures and/or diagrams to signify concepts that would be more complicated to write out. 4. Color code Using colored pencils, pens, or highlighters is a method that can help you differentiate between various ideas. The visual difference in color can help you process information, and it can also be more fun. Choose your favorite colors, establish a system, and go to town! 5. Go digital If allowed in your class, consider bringing a laptop or tablet to switch things up and take notes by typing them out. There are also apps specifically designated for note-taking that can change how you take and organize notes. Some students find these digital methods quicker and less time consuming. Be careful, however, as you may be tempted to write more than you need since typing is so much faster; remember to stick to key concepts and prioritize efficiency as you take notes. 6. Review and/or rewrite After a class of note-taking, review what you wrote as soon as possible (within 24 hours if you can). This can help you clarify confusing shorthand or messy handwriting that you may not be able to understand later. Fill in missing details from your textbook, and/or ask a classmate or the professor about a concept you didn’t quite comprehend. Consider rewriting or retyping your notes; this is an excellent way to re-cement information into your brain as you head toward a test! Try different strategies until you find one that works for you, and if you like variety, consider switching up methods every now and then to keep your mind fresh. Keep in mind that regardless of the style you use, you’ll want the notes to reflect how you personally think and process information. Stay to true to your learning and thinking style, and you’ll stay on the right track! This is a guest post from Lisa Low. Lisa is a contributing writer for Varsity Tutors, a live learning platform that connects students with personalized instruction to accelerate academic achievement.

To introduce learners to the concept of business ethics and to examine Essay

To introduce learners to the concept of business ethics and to examine its relevance when considering business objectives and responsibilities - Essay Example The company wants to make itself an integrated global organisation. But for its business growth & achieving its objectives the company took some major wrong steps which involved the company into a scandal in1996. This affected the ethical issues of the company also. Pfizer introduced a drug named Trovan. At that time a large outbreak was spread in Nigeria and the company tested the drug on infected children under hasty concision. The company did not inform their parents about the experimental drugs. The adverse effect of this drug killed fifty children & disabled many children. This action affected the ethical issues of the company like individualism, Kantianism, utilitarianism. The company disobeyed the government laws & ethical standards to maximize its profit. Pfizer only considered its business growth without focusing on its customer happiness. The goodwill of the company was hampered as it only focused on money making and ignored the value of people life. The company neither exe cuted the trial for good cause nor did it create happiness. Without evaluation the problems associated with the results of the trial Pfizer implemented it and ended with lawsuits. Pfizer did not respect its customers and took irrational actions (Altier 64-67). The company behaved in an inhuman way with the Nigerians and produced fake letter. As a results of this ethical issues Pfizer was deceitful to the US as the company did not informed the country about this incident for a long time. The company showed its coward nature by not admitting the facts that unethical standard was followed during the time of its medicine testing. It did not consider about the correct ethical guideline which should be followed. This is how the business objectives of Pfizer affected the ethical considerations (Baier 88-89). A person who invests in the company is known as stakeholder. They contribute a

Critically Assess the Scope, Meaning and Relevance of Essay

Critically Assess the Scope, Meaning and Relevance of Non-Discrimination in WTO Agreements - Essay Example Introduction WTO (World Trade Organisation) is a global institution that facilitates a free trade to happen in the world. The phrase â€Å"free trade† is always misconstrued since it does not connote that it is a free to trade from one nation to another nation. The WTO rules permit tariffs and other varieties of restrictions that assist to safeguard a nation from unfair trades. Thus , the phrase â€Å" free trade â€Å" can better be explained as a market where business can happen in an open and a fair field where there exists no ingenuous competition. By including a non-discrimination clause, WTO facilitates that a free trade exists in the international level. All countries that are members of WTO have consented to play fair in all their business transactions. This is made possible by demanding all trades to be made in the public eye. A WTO member country should not have a restriction to any trade that is being offered to one company and the same restriction would extend to all the companies which indulge in the same type of commerce. Among the non-discrimination measures, the most renowned ones are the national treatment and the most favoured nations. These two clauses under the guise of non-discrimination appear in some form or other in the† GATS (The General Agreement on Trade in Services), the GATT (the General Agreement on Tariffs and Trade), the TRIPS (the Agreement on Trade-Related Aspects of Intellectual Property Rights)† and in other numerous WTOs agreements1. In addition to â€Å"National Treatment (NT) and Most Favoured Nations (MFN), WTO also have more commonly termed anti-discrimination provisions, some important illustrations of which contain non-discrimination clauses in GATS Article XIV, other Agreements on the... Non-discrimination principle mainly revolves round the concept of treating all foreign services or products equivalent to the like domestic services or products. The doctrine of non-discrimination was intended specifically to thwart protectionism and to make sure that equal treatment is being given to both domestic and foreign goods. A question arises whether goods may be treated diversely since the manner in which they have been manufactured, even if the manufacturing process employed does not put down a mark in the end product. Further, it is to be noted that when contrasting two goods, different production methods or processes (PPMs) might have been employed in the manufacture of such goods, which do not per se make these goods â€Å"unlike.† For example, governments may like to differentiate between wood where the production process is not known and wood products emanated from the sustainably grown forest. Under these circumstances, the evaluation of similarity between two kinds of wood if the two varieties of wood may be especially difficult. For this, the evaluation of likeness between two goods or products should be done on each case basis, which was mentioned by the Appellate Body in EC-Asbestos case to find out whether there is a discrimination or not.

Influence of Brand Name on Consumer Decision Essay Example for Free

Influence of Brand Name on Consumer Decision Essay In the present developing and modern day world, consumerism has dominated all the aspects of life. The life in the society follows the pattern of the capitalist culture where the human values have a different measure, ‘you are known by what you have not by what you are’. This naturally leads to the life in a society where everyone wants to have a unique place in the society, by possessing the things which sets them apart from the rest of people in the society. In present society and living way, the Brands not only represent the symbol of the company or product but to a larger extent define the general life of a person. What the person uses can reflect his taste of life, his status in the society, his economic background and many other things. This makes a deep connection between the company and its brand, with the consumer. In this two way relation both are dependent on each other for various different reasons. In today’s time customers are very deeply connected to the brands. When they purchase any product like a car, mobile, items of daily need, brand name influence the consumer’s choice. Some customers purchase the specific branded things just due to the brand name. Customers believe that brand name is a symbol of quality. I found this interesting and wanted to find out whether brand name influences the consumer choice when they go for purchasing any product. I chose to for the specific product because  this is one of the products which got my attention because of many reasons. Initially the car production was dominated by few companies and one or two countries. With the time, the market started to grow and once considered to be luxurious commodity, cars became a need  rather than a choice. This increased the demand and with that many more  companies entered the arena to have their share of profit and exploit the growing market. This made the companies to put more efforts and money to creating brand awareness of their product. With the Huge sum of money and effort invested by the companies to create the awareness of their brand in the market, many questions arise; does this really affect the purchasing decision  of the customer? Does the brand awareness somehow influence the sale of the product? Etc. On the basis of these questions, I formulated my problem as follows: The purpose of this thesis is to create deeper consideration of what influence a brand name can have, when people go for purchasing, choose the products between different brands in automobile industry. Further I want to identify, if there is a connection between brands and the consumer decision making process. I conducted this study based on theories and surveys. I analyzed the result of the survey in order to be able to draw conclusions and find answers to my problem. I came to the conclusion that when consumer purchases a car, brand names influence his choice. Customers choose the well known branded car among other brands which are new or not so known. The study shows that branded cars have a great place in consumer mind, when customers go for purchasing a car, they prefer to purchase a well known branded car. Customers do not want to try new or unknown branded cars because they have no much information about the  lesser known brand. Usually, people purchase well known branded cars because they might have heard before about brands or they have some information about them from other sources. This makes customer feel more comfortable during the time of decision making as they are not so confident about the knowledge they have gathered about the other brands. The consumers are very conscious about branded and unbranded cars because they have the view that branded cars are more reliable than unbranded car. This study also explains that customers trust the branded cars’ quality. Before purchasing a car people do not consider the lesser known brand car, as people are very attached to some specific brands. Some people are loyal to specific brands, over time they want to purchase the same branded car because the specific brand has satisfied the customer’s needs and in turn has gained the trust in the brand name. I feel that the purpose of this study has been fulfilled to some extant. The theory describe that brand name has a power, which attracts the customers towards branded products. The reason  is that customer gets special connection with specific brands product and become the loyal with brand.

Miltons Passage :: Milton History Essays

Milton's Passage Works Cited Missing In this passage Milton surveys the battlefield after the inconclusive first day of fighting between the rebellious third of the angels and the equally-sized contingent God has sent to face them. The purpose is to portray the disarray and destruction caused by the battle, especially on the side of the fallen, and to contrast that chaos and baseness with the dignity and honor of the champions who defeat them. Little has been accomplished by the fighting, except to demonstrate the difference between the warriors on the two sides. Neither side is defeated, but the side of good has displayed its superiority in valor and glory, and the evil have shown themselves to be the lesser precisely because of their moral inferiority. Though they have fought to a draw, only the angels do so honorably, holding their ground as we watch the Satanic Host fly in a state of fear and panic. Milton seems to evoke a parallel with two of the most famous battles in history, as presented by the father of his tory, Herodotus: the Spartan duels with the vast Persian force of the Great King Xerxes. In the first battle, at Thermopylae, the Spartans stood their ground faithfully, and through obedience and discipline shamed their (in Herodotus' portrayal) morally inferior foe by forcing them to pay an outrageous price for victory. In the second, at Plataea, the Spartans this time defeat their more numerous foe, again due to their inherent superiority, which is ascribed, ultimately, to their virtue. If Milton's scene is imagined cinematically, the view begins low, looking down to see "all the ground" where the detritus lay "strown," "in "heap[s]," and "overturn'd" (388-90), and generally tipped over and fallen down in a catalogue of ways. The rebel angels' fallen condition is made literal by the work of the loyal warriors, whom we see in exactly the opposite condition, in spite of having fought just as hard and taken the same beating. We look up from the jumbled mass to see the angels in their state of "high advantages" (401), seeming to fly in formation unbroken by the onslaught, unperturbed by their wounds. Milton presents a dual image of battle lines shifting and being wrenched out of shape in parallel with the picture of bodies being crushed and mangled. Following his announcement that the devils' "Mightiest quell'd", we are shown that the "battle swerv'd" and we see "inroad[s] gor'd" into the broken battle formations and the broken bodies of the fighters (386-87). Milton's Passage :: Milton History Essays Milton's Passage Works Cited Missing In this passage Milton surveys the battlefield after the inconclusive first day of fighting between the rebellious third of the angels and the equally-sized contingent God has sent to face them. The purpose is to portray the disarray and destruction caused by the battle, especially on the side of the fallen, and to contrast that chaos and baseness with the dignity and honor of the champions who defeat them. Little has been accomplished by the fighting, except to demonstrate the difference between the warriors on the two sides. Neither side is defeated, but the side of good has displayed its superiority in valor and glory, and the evil have shown themselves to be the lesser precisely because of their moral inferiority. Though they have fought to a draw, only the angels do so honorably, holding their ground as we watch the Satanic Host fly in a state of fear and panic. Milton seems to evoke a parallel with two of the most famous battles in history, as presented by the father of his tory, Herodotus: the Spartan duels with the vast Persian force of the Great King Xerxes. In the first battle, at Thermopylae, the Spartans stood their ground faithfully, and through obedience and discipline shamed their (in Herodotus' portrayal) morally inferior foe by forcing them to pay an outrageous price for victory. In the second, at Plataea, the Spartans this time defeat their more numerous foe, again due to their inherent superiority, which is ascribed, ultimately, to their virtue. If Milton's scene is imagined cinematically, the view begins low, looking down to see "all the ground" where the detritus lay "strown," "in "heap[s]," and "overturn'd" (388-90), and generally tipped over and fallen down in a catalogue of ways. The rebel angels' fallen condition is made literal by the work of the loyal warriors, whom we see in exactly the opposite condition, in spite of having fought just as hard and taken the same beating. We look up from the jumbled mass to see the angels in their state of "high advantages" (401), seeming to fly in formation unbroken by the onslaught, unperturbed by their wounds. Milton presents a dual image of battle lines shifting and being wrenched out of shape in parallel with the picture of bodies being crushed and mangled. Following his announcement that the devils' "Mightiest quell'd", we are shown that the "battle swerv'd" and we see "inroad[s] gor'd" into the broken battle formations and the broken bodies of the fighters (386-87).

Singapore Company Law

SAMPLE ONLY MID-SEMESTER TEST COURSE:LAW2464 COMPANY LAW DATE:17/03/2012 TIME ALLOWED:1 hour 40 minutes (including 10mins reading time) QUESTION (Prospectus Topic) In July 2011, Ah Beng was at his accountant’s office to talk about taxation matters. Whilst there, his accountant gave him a prospectus issued by Ionic Ltd. , a company listed on the Singapore Stock Exchange, to take home to read and if interested, to follow the instructions about investing in new shares in the company which were to be quoted on the Exchange.After reading the prospectus, Ah Beng was convinced that he was going to make a lot of money investing in the company which had stated that it had discovered a huge gold deposit in Western Australia. The prospectus contained a report by a geologist which stated that the gold was near the surface and therefore, easily mined. The prospectus also contained estimations of the amount of profits which it could make based on the current high price of gold. (False and/o r Misleading Statements) Criminal Lability Under S253(Jail and/or fine company is liable if it is an entity. Directions are liable.Statements are materially adverse from viewpoint of investors including Ah Beng. Who else is liable? The Accountant? No advice or false or misleaeding statement. Did he act intentionally or recklessly? No. No Lability. Could Geologist be liable? Yes, as his a conman. Actions were intentional. S254 Civil Lability Directors liable any defences under s255 SFA? Any defences under s255 SFA? Reasonable reliance on geologist, reports is reliance here reasonable. He is a conman. Not reasonable. Inquries Defence, May fail. Geologist liable to compensate no defence. Accountant assuming he made statements.Yes, if not. No. Ah beng will receive compensation for his loss. ALTERNATIVE Misrepresentaton. False Statement Made during negotiation that induces one into contract Geologist is dishonest and fraudulent misrepresentation. Recession of contract of sale of shares a nd damages for the tort of deceit. After applying for the shares, Ah Beng was issued 50,000 shares at the price of $1. 00 per share in September 2011. In January 2012, the local newspaper published an article about the arrest of a geologist in Western Australia who was claiming discovery of mines which turned out to be non-existent.A week later, news broke out that the arrested conman was the geologist whose report was contained in the Ionic Ltd’s prospectus and there was actually a very small deposit of gold very deep in the ground which would make any mining a loss-making venture. The price of the shares in Ionic Ltd immediately plunged and trading in the shares had to be halted. Ah Beng has now come to you for advise as he has been informed that Ioninc Ltd shares are now worthless and that the company will soon be wound-up. REQUIRED:Can Ah Beng take action against any one or more persons with regard to his loss? Explain. (8 marks) QUESTION TWO Dinosaur Rocks Pte Ltd (Dinos aur Rocks) is a family company whose two shareholders and directors are Fred and his wife, Betty. They live in a house in Pasir Panjang owned by the company. The company owns a business of supplying rocks and sand to construction companies. In August 2011, Fred borrowed $1 million from U-O-Me Bank. The loan was secured by a mortgage charge over the Pasir Panjang property owned by Dinosaur Rocks.The loan was to be used by Fred for personal expenses. According to the articles of association, the mortgage/charge document was to be executed by way of affixing the common seal in the presence of two directors as witnesses. Fred signed the document as witness but he also forged Betty’s signature. By early January 2012, Fred had defaulted on his last two loan repayments. It has since emerged that Fred had skipped the country with the $1 million in October 2011 and is now purportedly living the high life in the Maldives.U-O-Me Bank has started proceedings to enforce the mortgage/charg e against the Pasir Panjang property owned by Dinosaur Rocks. Betty comes to you for advice. She is more distressed about losing the Pasir Panjang property than losing Fred and does not want to vacate the house which she will have to when the Bank sells the property. REQUIRED: Advise Betty as to whether the mortgage/charge is valid and enforceable against the company. (8 marks) QUESTION THREE (Separating of legal entity concept, Lifting of corporate veil and evasion of legal obligations, case GM v Horne, Jones V Lipman fraud.Re Darby. Solution is to lift the veil and consider Athena and Grecian as one. Each is liable for the acts of debts of the other. Athena is a hair-dresser. Two months ago, she agreed to sell all the hair-dressing machines and supplies in her salon in Bukit Timah to Hera as she was moving to a new business location in Orchard Road. The purchase price was to be paid three months later whereupon Athena would deliver all the goods to Hera. Athena was intending to bu y new machines and supplies for her new salon but a month ago, her application to obtain a bank loan was not approved.Needing equipment and supplies at the Orchard Road location, Athena registered a company called Grecian Pte Ltd (Grecian) with herself as the sole director and member last week. She immediately moved all the machines and supplies from her Bukit Timah salon to the new Orchard Road location of Grecian. Athena then told Hera the deal was off as she no longer owned the machines and supplies. Hera wants the machines and supplies as agreed under the contract as the machines are identical to the ones in her own salon. REQUIRED: Advise Hera. (6 marks) QUESTION FOURWhen incorporated in January 2010, the memorandum and articles of association of Coffee Addict Pte Ltd (Coffee Addict) contained the following clauses:- 1. The objects of the company is the import and supply coffee beans to retail outletsin Singapore; 2. 3. Gloria is to be employed as the sales manager of the compa ny for a period of five years at an annual salary of $100,000. In January 2012, Coffee Addict entered into a joint-venture agreement with Jean Ltd to build a row of ten shops in Clementi Road. Both parties are to inject $2 million each into the project.Also in January 2012, the Board of Directors of Coffee Addict resolved to terminate Gloria’s appointment as the sales manager. REQUIRED: a) Is the contract with Jeans Ltd a valid contract since it is contravenes the objects clause. Explain. (4 marks) b) Can Gloria prevent her removal as sales manager? Would it make any difference if she is also a shareholder? Explain. (4 marks) Total: 4 + 4 = 8 marks QUESTION FIVE Potterfied Ltd ( Potterfied) has its own set of articles which entitles preference shareholders to an annual dividend of ten cents per share.The Board of Directors of Potterfield wanted the articles amended so that the dividends are to be reduced to four cents per share and last week, persuaded more than half of the m embers to pass a resolution at a members’ meeting to the effect. The members were also told that there was nothing they could do as long as the majority of all shareholders agreed to the change. Harriet is a preference-shareholder who voted against the amendment to the articles at the members’ meeting last week. REQUIRED: Advise Harriet. Assupmtion that this variation of class rights affects all preferences shareholders rights to receive dividentds of 10cent per share, S74(1) applies. If 5% or more of shareholders dissent then can apply to court to stay the resolution to change the article until and unless the court confirms it, the change is ineffective. ) (6 marks) QUESTION SIX REQUIRED: Discuss the validity of the following statement: ’ The Privy Council in the case of Lee v Lee’s Air Farming Ltd did not apply the principle set out in Salomon v Salomon & Co Ltd. ’ (4 marks) *Separating entity was applied Singapore Company Law SAMPLE ONLY MID-SEMESTER TEST COURSE:LAW2464 COMPANY LAW DATE:17/03/2012 TIME ALLOWED:1 hour 40 minutes (including 10mins reading time) QUESTION (Prospectus Topic) In July 2011, Ah Beng was at his accountant’s office to talk about taxation matters. Whilst there, his accountant gave him a prospectus issued by Ionic Ltd. , a company listed on the Singapore Stock Exchange, to take home to read and if interested, to follow the instructions about investing in new shares in the company which were to be quoted on the Exchange.After reading the prospectus, Ah Beng was convinced that he was going to make a lot of money investing in the company which had stated that it had discovered a huge gold deposit in Western Australia. The prospectus contained a report by a geologist which stated that the gold was near the surface and therefore, easily mined. The prospectus also contained estimations of the amount of profits which it could make based on the current high price of gold. (False and/o r Misleading Statements) Criminal Lability Under S253(Jail and/or fine company is liable if it is an entity. Directions are liable.Statements are materially adverse from viewpoint of investors including Ah Beng. Who else is liable? The Accountant? No advice or false or misleaeding statement. Did he act intentionally or recklessly? No. No Lability. Could Geologist be liable? Yes, as his a conman. Actions were intentional. S254 Civil Lability Directors liable any defences under s255 SFA? Any defences under s255 SFA? Reasonable reliance on geologist, reports is reliance here reasonable. He is a conman. Not reasonable. Inquries Defence, May fail. Geologist liable to compensate no defence. Accountant assuming he made statements.Yes, if not. No. Ah beng will receive compensation for his loss. ALTERNATIVE Misrepresentaton. False Statement Made during negotiation that induces one into contract Geologist is dishonest and fraudulent misrepresentation. Recession of contract of sale of shares a nd damages for the tort of deceit. After applying for the shares, Ah Beng was issued 50,000 shares at the price of $1. 00 per share in September 2011. In January 2012, the local newspaper published an article about the arrest of a geologist in Western Australia who was claiming discovery of mines which turned out to be non-existent.A week later, news broke out that the arrested conman was the geologist whose report was contained in the Ionic Ltd’s prospectus and there was actually a very small deposit of gold very deep in the ground which would make any mining a loss-making venture. The price of the shares in Ionic Ltd immediately plunged and trading in the shares had to be halted. Ah Beng has now come to you for advise as he has been informed that Ioninc Ltd shares are now worthless and that the company will soon be wound-up. REQUIRED:Can Ah Beng take action against any one or more persons with regard to his loss? Explain. (8 marks) QUESTION TWO Dinosaur Rocks Pte Ltd (Dinos aur Rocks) is a family company whose two shareholders and directors are Fred and his wife, Betty. They live in a house in Pasir Panjang owned by the company. The company owns a business of supplying rocks and sand to construction companies. In August 2011, Fred borrowed $1 million from U-O-Me Bank. The loan was secured by a mortgage charge over the Pasir Panjang property owned by Dinosaur Rocks.The loan was to be used by Fred for personal expenses. According to the articles of association, the mortgage/charge document was to be executed by way of affixing the common seal in the presence of two directors as witnesses. Fred signed the document as witness but he also forged Betty’s signature. By early January 2012, Fred had defaulted on his last two loan repayments. It has since emerged that Fred had skipped the country with the $1 million in October 2011 and is now purportedly living the high life in the Maldives.U-O-Me Bank has started proceedings to enforce the mortgage/charg e against the Pasir Panjang property owned by Dinosaur Rocks. Betty comes to you for advice. She is more distressed about losing the Pasir Panjang property than losing Fred and does not want to vacate the house which she will have to when the Bank sells the property. REQUIRED: Advise Betty as to whether the mortgage/charge is valid and enforceable against the company. (8 marks) QUESTION THREE (Separating of legal entity concept, Lifting of corporate veil and evasion of legal obligations, case GM v Horne, Jones V Lipman fraud.Re Darby. Solution is to lift the veil and consider Athena and Grecian as one. Each is liable for the acts of debts of the other. Athena is a hair-dresser. Two months ago, she agreed to sell all the hair-dressing machines and supplies in her salon in Bukit Timah to Hera as she was moving to a new business location in Orchard Road. The purchase price was to be paid three months later whereupon Athena would deliver all the goods to Hera. Athena was intending to bu y new machines and supplies for her new salon but a month ago, her application to obtain a bank loan was not approved.Needing equipment and supplies at the Orchard Road location, Athena registered a company called Grecian Pte Ltd (Grecian) with herself as the sole director and member last week. She immediately moved all the machines and supplies from her Bukit Timah salon to the new Orchard Road location of Grecian. Athena then told Hera the deal was off as she no longer owned the machines and supplies. Hera wants the machines and supplies as agreed under the contract as the machines are identical to the ones in her own salon. REQUIRED: Advise Hera. (6 marks) QUESTION FOURWhen incorporated in January 2010, the memorandum and articles of association of Coffee Addict Pte Ltd (Coffee Addict) contained the following clauses:- 1. The objects of the company is the import and supply coffee beans to retail outletsin Singapore; 2. 3. Gloria is to be employed as the sales manager of the compa ny for a period of five years at an annual salary of $100,000. In January 2012, Coffee Addict entered into a joint-venture agreement with Jean Ltd to build a row of ten shops in Clementi Road. Both parties are to inject $2 million each into the project.Also in January 2012, the Board of Directors of Coffee Addict resolved to terminate Gloria’s appointment as the sales manager. REQUIRED: a) Is the contract with Jeans Ltd a valid contract since it is contravenes the objects clause. Explain. (4 marks) b) Can Gloria prevent her removal as sales manager? Would it make any difference if she is also a shareholder? Explain. (4 marks) Total: 4 + 4 = 8 marks QUESTION FIVE Potterfied Ltd ( Potterfied) has its own set of articles which entitles preference shareholders to an annual dividend of ten cents per share.The Board of Directors of Potterfield wanted the articles amended so that the dividends are to be reduced to four cents per share and last week, persuaded more than half of the m embers to pass a resolution at a members’ meeting to the effect. The members were also told that there was nothing they could do as long as the majority of all shareholders agreed to the change. Harriet is a preference-shareholder who voted against the amendment to the articles at the members’ meeting last week. REQUIRED: Advise Harriet. Assupmtion that this variation of class rights affects all preferences shareholders rights to receive dividentds of 10cent per share, S74(1) applies. If 5% or more of shareholders dissent then can apply to court to stay the resolution to change the article until and unless the court confirms it, the change is ineffective. ) (6 marks) QUESTION SIX REQUIRED: Discuss the validity of the following statement: ’ The Privy Council in the case of Lee v Lee’s Air Farming Ltd did not apply the principle set out in Salomon v Salomon & Co Ltd. ’ (4 marks) *Separating entity was applied