The Financial Comparisons Between Two Companies Finance Essay - Free Essay Example

Sample details Pages: 14 Words: 4300 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Compare and contrast essay Did you like this example? Abstract The analysis has been done using secondary data. The secondary data is available through the companys main home website where the annual financial reports of the company are available of 2006-2010 financial years for Nike Inc. For Adidas the analysis is done only by using the data from the financial years 2006 2009 as the annual report for the year 2010 is not published by the home website of the company yet. Don’t waste time! Our writers will create an original "The Financial Comparisons Between Two Companies Finance Essay" essay for you Create order The method which is applied to find out the financial comparisons between the two companies is the efficiency ratio analysis which will help us to show how the firms resources are being used and can be held as a strong measure on the firms financial performance. Another method is the profitability ratio as we know that the profit is the main key to find out the financial performance of the company hence the GPM and the net profit margins of the companies are calculated by using the formulae. Each analysis has been supported with the help of a graph which shows the trend of the companies to arrive at the final conclusion. 186 Words Introduction: The main aim of my commentary is to investigate the financial performance of Adidas and Nike Inc which are two rival companies. Adidas and Nike Inc are the only companies which dominate the footwear, sportswear and sports equipment sector of the market. For testing the financial strength of the companies, I have tried to use the revenue and profit ratios. In the era of globalization, to attract the investors, the financial data of the two competitors is available on the net. A broad comparison is drawn between the two companies based on sales turnover and other relevant ratios to get an understanding of the financial structure and its effectiveness in the business. Both the companies have strived hard to keep the image of their companies high with the help of these reports to attract more people to invest in their company and to buy more shares. The companies can be compared by the revenues they earned over those financial years, the sales of the company, the sales turnovers of the company, using the various tests and to comment on the performance of the company overall. Normally, people look at the balance sheet and the profit and loss account to know the success of the company and to decide whether they want to invest in a company or not. But, it is worth noting that ratio analysis give a better picture of the trend of the company over the years, it pin points the exact highs and lows for the company and comparing the same on an industry level it can be observed whether the industry as a whole is facing crisis or it is the companys inability to generate profits. In the essay I have used historical comparisons which involve comparing same ratio for Adidas and Nike Inc. By using historical ratios the comparisons over the years show a trend which will help us to assess the financial performance of both the companies. This will help us conclude which company has done well financially better than its counterpart. So I have done the comparisons by using the profitability ratio as the profit is a key objective for most of the businesses and can act as a strong measure of a businesss success. The efficiency ratio is also used in finding out the financial performance of these companies. Efficiency ratios show us how well a firms financial resources are being used in which the stock turnover and the return on capital employed are calculated from the financial reports of both the companies. Main Findings: For Nike Inc 2006 2007 these financial years specifically showed consistency in their performance without making heavy losses which is the primary aim of all the companies. 2008 was a good year for the company as here the company showed good signs of improvements and performed better than the years 2006, 2007 and 2009 in all cases 2010 was the best year so far as the company has made improvements and has earned the maximum in this year. It is seen that the company after having a drastic fall in the year 2009, the company has bounced back from drought in almost every case and have performed better than the previous years which is a very good thing for the company. In 2010 the company has the best performance. 2009 the company Nike Inc had handled very well due to the recession the companies had been affected in a huge way like a huge decline in their work but in the case of Nike Inc there wasnt much problem for them if compared to others For Adidas 2006 2007 these financial years showed consistency in the performance of the company In the year 2008 the company had the best financial performance and had performed very well 2009 has been a very bad year in case of financial performance for Adidas as the company has had a major decline in their financial performance which is an alarming state for the company. The year 2009 was a very bad year as the world was hit by a major recession and had created a major slump in the case of many businesses. Adidas was hit by this recession and it was affected in a major way as they incurred heavy declines in their financial performances. https://shoesobsessions.files.wordpress.com/2008/08/ad-2-copia.jpg NIKE INC Profitability Ratios for Nike Inc Gross Profit Margin (GPM) Profit would be the main aim for many businesses and can help act as one of the methods to measure of the firms financial success and performance. The GPM ratio portrays the value of gross profit as a percentage of the sales revenue. The GP M ratio is expressed as percentage with the help of the formula. GPM= Year 2006 Sales Revenue of Nike Inc $14,954.9 The Gross Profit was $6580.16 Gross Profit Margin 44% Year 2007 Sales Revenue of Nike Inc $16,325.9 The Gross Profit was $7167.07 Gross Profit Margin 43.9% Year 2008 Sales Revenue of Nike Inc $18627.0 The Gross Profit was $8382.15 Gross Profit Margin 45% Year 2009 Sales Revenue of Nike Inc $19167.1 The Gross Profit was $8606.03 Gross Profit Margin 44.9% Year 2010 Sales Revenue of Nike Inc $19014.0 The Gross Profit was $8803.48 Gross Profit Margin 46.3% Graph of the GPM from 2006-2010 Analysis: The trend in the above graph shows the variation of the GPM of the company over 5 years GPM can be increased by using two main strategies financial and non financial In 2006 2007 the company had a comparatively low GPM But in the year 2008 the company improved their performance to a higher percentage as is evident from the graph In 2009 the company did have a small fall of 0.10% in their GPM but then they recovered in the year 2010 with a sudden rise in their Gross Profit The increase in gross profit over the years could be mainly because of two methods Nike Inc could have increased the price of inelastic products to earn more profit (inelastic products are such products whose demand does not go down due to rise in its price) Example: The Nike Inc could have increased the price of their studs, which are very popular and unique; the demand of those products would not go down. However, considering the globalization, these strategies have become very subjective. Or the company could have reduced the price of elastic products and increase its turnover by luring the common man with its brand name. (Elastic products are such products whose demand rises and falls with a rise and fall in its price. Normally such products have substitutes in the market) Example: If the company reduce their cost of shoes by 5%, its turnover may increase beyond the loss due to reduction in the price. Net Profit Margins (NPM) The Net Profit Margin Ratio is a better measure of a firms profitability since it accounts for the companys sales and expenses. The more the NPM the better for the company as the company would have more profit to distribute to shareholders and to reinvest in the business. The NPM is generally high for high volume products. We can calculate the NPM using the following formula. Net Profit Margin = Year 2006 Sales Revenue of Nike Inc $14,954.9 The Net Profit was $1392.0 Net Profit Margin 9.31% Year 2007 Sales Revenue of Nike Inc $16,325.9 The Net Profit was $1491.5 Net Profit Margin 9.14% Year 2008 Sales Revenue of Nike Inc $18627.0 The Net Profit was $1883.4 Net Profit Margin 10.11% Year 2009 Sales Revenue of Nike Inc $19176.1 The Net Profit was $1486.7 Net Profit Margin 7.75% Year 2010 Sales Revenue of Nike Inc $19014.0 The Net Profit was $1906.7 Net Profit Margin 10.03% Graph of the NPM from 2006-2010 Analysis: The trend in the above graph shows the NPM of the company Nike Inc over 5 years The following trend line shows the NPM for Nike Inc in 2006 2007 was showing signs of consistency after a particular rise from 2004 2005 and then in the year 2007 there was another rise in the net profit 2008 was not a good year for the company as the net profit fell to a great extent directly from 10.11 high to 7.75 low of the company in the time period of these 5 years The company came back strongly with recovering their status and stabilizing their net profit in the year 2010 where they came back to their Net Profit to 10.03% Some of the ways to increase the NPM are: Negotiating a cheaper rent for the premises Cutting down other indirect expenses like providing economy class tickets for travelling rather than business class. Using video conferencing instead of flying over to other destinations unless need be Reducing other overhead expenditure which can be cut down, say for instance, making a policy to shut down the computers, air conditioners/heaters when they are not in use Efficiency Ratios for Nike Inc Stock Turnover Stock Turnover ratio would measure the number of times a firm sells its stocks within a time period. The ratio hence indicates the speed at which a firm sells and replenishes all its stock. The formula to find out Stock Turnover is Stock Turnover = OR Stock Turnover = * 365 Year 2006 Cost of Goods Sold $8367.90 Average Stock $1943.9 Stock Turnover 4.30 Year 2007 Cost of Goods Sold $9165.4 Average Stock $2099.3 Stock Turnover 4.37 Year 2008 Cost of Goods Sold $10239.6 Average Stock $2280.15 Stock Turnover 4.49 Year 2009 Cost of Goods Sold $10571.7 Average Stock $2397.7 Stock Turnover 4.41 Year 2010 Cost of Goods Sold $10213.6 Average Stock $2198.9 Stock Turnover 4.64 Graph of the Stock Turnover from 2006-2010 Analysis: Inventory turnover ratio or Stock turnover ratio measures the velocity of conversion of stock into sales Usually a high inventory turnover ratio indicates that the stock is fast selling and the management does not face difficulty in conversion of stock into sales In the graph for the stock turnover of Nike Inc it can be observed the rise in the stock turnover ratio for the years 2006-2008 2009 had a drastic fall in the stock turnover This fall was recovered and improved better than 2008 in the year 2010. The low inventory turnover ratio implies that, during that period, the sale of the company has declined The other reason for rise in the ratio could be that the company started producing for increasing its stocks, but considering the situation at that point of time, it seems highly improbable. Only in the industries in which seasonal products are utilized, higher stock turnover ratio can be acceptable Return on Capital Employed (ROCE) The ROCE is an efficiency ratio that measures the financial performance of a company as compared with the amount of capital invested. The ROCE is also an indicator of the profitability of a company. ROCE can help investors see through growth forecasts, and it can often serve as a reliable measure of corporate performance. The return on capital employed is used to prove the value the business gains from its assets and liabilities, a business which owns lots of land but has little profit will have a smaller ROCE to a business which owns little land but makes same profit. The formula to calculate the Return on Capital employed is Return on Capital Employed = * 100 Year 2006 Capital Employed $6696.2 Net Profit Before Tax and Interest $1392.0 Return on Capital Employed 20.8% Year 2007 Capital Employed $7435.6 Net Profit Before Tax and Interest $1491.5 Return on Capital Employed 20.06% Year 2008 Capital Employed $8266.7 Net Profit Before Tax and Interest $1883.4 Return on Capital Employed 22.78% Year 2009 Capital Employed $9076.6 Net Profit Before Tax and Interest $1486.7 Return on Capital Employed 16.38% Year 2010 Capital Employed $10119.8 Net Profit Before Tax and Interest $1906.7 Return on Capital Employed 18.69% Graph of the Return on Capital Employed from 2006-2010 Analysis: The ROCE line shows how the company is able to generate the profits using the resources in their possession If the capital employed falls while the net profits remain the constant it means that the company has been able to achieve the same profit with less capital. This is good for the company The company graph shows that the ROCE was constant in 2006-2007 The company had a reasonable rise in their ROCE in the year 2008 but it dropped drastically in the year 2009, but stabilized in 2010 If the capital employed is high then there could be a decline in the ROCE which could be a reason in the year 2009 2010 is the year where the company begins stabilizing and tries to recover their standards https://www.soccerwallpaper.mackafe.com/var/albums/David-Beckham-Wallpaper-Gallery/beckham-wallpaper-adidas.jpg ADIDAS Profitability Ratios for Adidas Gross Profit Margin (GPM) 1 EUR = $1.337479367 The profit would be the key objective for most of the businesses and can help act as the measure of the firms financial success and performance. GPM ratio shows the value of gross profit as a percentage of the sales revenue. The GPM ratio is expressed as percentage with the help of the formula. Gross Profit Margin = Year 2006 Sales Revenue of Adidas $13,487.1 The Gross Profit was $6015.25 Gross Profit Margin 44.6% Year 2007 Sales Revenue of Adidas $13.774.7 The Gross Profit was $6529.21 Gross Profit Margin 47.4% Year 2008 Sales Revenue of Adidas $14443.4 The Gross Profit was $7033.94 Gross Profit Margin 48.7% Year 2009 Sales Revenue of Adidas $13884.4 The Gross Profit was $6303.52 Gross Profit Margin 45.4% Graph of the GPM of Adidas from 2006-2009 Analysis The trend in the above graph shows the trend of the GPM of the company over 4 years The GPM portrays the profit a company makes after paying off its Cost of Goods sold (COGS) In 2006 the company had a very low GPM, but it increased over the years In the year 2008 the companys GPM reached its peak and even the success of the company was at its highest during that period As discussed earlier GPM is the first aspect to be measured to measure the success of the success of the company. This will provide the company an opportunity to invest more, do more marketing of their company and use the money for research so that the company can develop and grow. In 2009 the company did have a massive fall in their GPM which is a bad sign for the company as it is a huge decline Adidas can increase the price of inelastic products as they can get more sales revenue from the market if the customers respond in a positive way to the change in the prices Example: Adidas can increase the price of their shoes and the demand of the products does not fall then the strategy can be called successful. Adidas would have to improve their GPM in the year 2010 to recover and not have a negative impact on the minds of the customers and other important stakeholders. ÂÂ  LowÂÂ  profit marginÂÂ  ratios can also suggest the business is unable to control production costs, or that a low amount of earnings are generated from revenues. Net Profit Margins (NPM) 1 EUR = $1.337479367 The NPM Ratio is a better measure of a firms profitability since it accounts for the companys sales and expenses. The more the NPM the better for the company as the company would have more profit to distribute to shareholders and to reinvest in the business. The NPM is generally high for high volume products. We can calculate the NPM using the following formula. Net Profit Margin = Year 2006 Sales Revenue of Adidas $13487.1 The Net Profit was $1178.3 Net Profit Margin 8.7% Year 2007 Sales Revenue of Adidas $13774.7 The Net Profit was $1269.3 Net Profit Margin 9.2% Year 2008 Sales Revenue of Adidas $14443.4 The Net Profit was $1431.1 Net Profit Margin 9.9% Year 2009 Sales Revenue of Adidas $13884.4 The Net Profit was $679.4 Net Profit Margin 4.9% Graph of the Net Profit Margin of Adidas from 2006-2009 Analysis: The trend in the above graph shows the NPM of the company Adidas over 4 years. The following trend line shows the NPM for Nike Inc in 2006 2007 was showing signs of consistency after a particular rise from 2004 2005 and then in the year 2007 there was another rise in the net profit 2008 was not a good year for the company as the net profit fell to a great extent directly from 10.11 high to 7.75 low of the company in the time period of these 5 years The company came back strongly with recovering their status and stabilizing their net profit in the year 2010 where they came back to their Net Profit to 10.03% Some of the ways to increase the NPM are: Negotiating a cheaper rent for the premises Cutting down other indirect expenses like providing economy class tickets for travelling rather than business class. Using video conferencing instead of flying over to other destinations unless need be Reducing other overhead expenditure which can be cut down, say for i nstance, making a policy to shut down the computers, air conditioners/heaters when they are not in use Efficiency Ratios for Adidas Stock Turnover 1 EUR = $1.337479367 Stock Turnover ratio would measure the number of times a firm sells its stocks within a time period. The ratio hence indicates the speed at which a firm sells and replenishes all its stock. The formula to find out Stock Turnover is Stock Turnover = OR Stock Turnover = * 365 Year 2006 Cost of Goods Sold $7471.85 Average Stock $1898.55 Stock Turnover 3.94 Year 2007 Cost of Goods Sold $7245.49 Average Stock $2164.04 Stock Turnover 3.35 Year 2008 Cost of Goods Sold $7409.46 Average Stock $2423.51 Stock Turnover 3.06 Year 2009 Cost of Goods Sold $7580.88 Average Stock $2317.85 Stock Turnover 3.27 Graph of the Stock Turnover from 2006-2009 Analysis Inventory turnover ratio or Stock turnover ratio measures the velocity of conversion of stock into sales Usually a high inventory stock velocity indicates efficient management because more stocks are sold Graph above for the stock turnover of Adidas shows the decline in the stock turnover ratio from 2006 to 2007 Since 2007 the company had a low stock turnover However the company could not improve its stock turnover ratio over the years The low inventory turnover ratio implies that the products of the company are not selling as fast as they were in the year 2006 The other reason for rise in the ratio could be that the company started producing for increasing its stocks, but considering the situation at that point of time, it seems highly improbable. Only in the industries in which seasonal products are utilized, higher stock turnover ratio can be acceptable Return on Capital Employed (ROCE) 1 EUR = $1.337479367 The ROCE is an efficiency ratio that measures the financial performance of a firm compared with the amount of capital invested. The ROCE is also an indicator of the profitability of a company. ROCE can help investors understand the growth forecasts as predicted by the company and it can often serve as a reliable measure of corporate performance. The ROCE is used to prove the value the business gains from its assets and liabilities, a business which owns lots of land but has little profit will have a smaller ROCE to a business which owns little land but makes same profit. The formula t calculate the ROCE is Return on Capital Employed = * 100 Note I have considered net borrowings entirely as the long term debt since working capital includes short term debt Year 2006 Capital Employed $6766.31 Net Profit Before Tax and Interest $1441.80 Return on Capital Employed 21.31% Year 2007 Capital Employed $6405.19 Net Profit Before Tax and Interest $1558.16 Return on Capital Employed 24.33% Year 2008 Capital Employed $7456.45 Net Profit Before Tax and Interest $1711.97 Return on Capital Employed 22.96% Year 2009 Capital Employed $6270.10 Net Profit Before Tax and Interest $1043.23 Return on Capital Employed 16.64% Graph of the Return on Capital Employed from 2006-2010 Analysis The ROCE trend line shows how the company is able to generate the profits If the capital employed falls while the net profits remain constant this shows that the company is earning the same with less amount of capital employed The company graph shows that the ROCE was improving in the years 2006-2007 Improving ROCE is always a good sign for a company but from the year2007 there is a constant decline in the trend which is observed Comparative Analysis Graph of the GPM for Adidas (2006 2009) Nike Inc (2006 2010) Analysis Adidas had started the year 2006 above Nike Inc with a GPM higher than Nike Inc Adidas in the year 2007 has improved their companys standing as there is a constant improvement in their performance The year 2008 saw a successful year for the market as a whole and the performance of both the companies was better, however the performance of Adidas was better than Nike Inc In the year 2009 the companies had a massive decline in their GPM as the world was battling recession, which affected the entire globe as a whole. Adidas had a major decline in their GPM where Nike did not have a very major fall although the company had a decline it was not as bad as Adidas It was also said that the boom of the commodities which was on for 5 years had come to an end Graph of the NPM for Adidas (2006 2009) Nike Inc (2006 2010) Analysis Adidas had a relatively low NPM compared to Nike Inc In the year 2006 Adidas had a lower NPM than Nike Inc In the year 2007-2008 they were almost the same Due to the recession in the year 2009 hit Adidas very bad as they had fallen in both the NPM and the GPM Nike Inc on the other hand was not affected that badly due to the recession Reducing other overhead expenditure which can be cut down, say for instance, making a policy to shut down the computers, air conditioners/heaters when they are not in use Graph of the Stock Turnover for Adidas (2006 2009) Nike Inc (2006 2010) Analysis Inventory turnover ratio or stock turnover ratio measures the velocity of conversion of stock into sales. The graph shows that Adidas have had a relatively low Stock Turnover than that of Nike Inc throughout the year The graph shows that the stock turnover of the Nike Inc has been very consistent whereas the Adidas company have had a low and declining stock turnover The higher the stock turnover it is better for the company as it shows that the stock gets sold very fast and it also implies that your product has a high demand in the market If the stock turnover is high the company is said to be more efficient in converting its stocks into sales A low stock turnover is bad for a company as it shows that the company has less sales and its product is not much in demand by the customers Graph of the Return on Capital Employed for Adidas (2006 2009) Nike Inc (2006 2010) Analysis A company with a high ROCE is normally a highly profitable business The return on capital employed trend line shows how the company is able to generate the profits Return on Capital Employed ratio also indicates whetherÂÂ  the companyÂÂ  is earning sufficientÂÂ  revenuesÂÂ  and profits in order to make the best use of its capital assets In the year 2007 Adidas had a better ROCE as they had improved their business as and were able to generate more profits and have had a better ROCE that Nike Inc as Nike Inc had their ROCE decline in 2007 Adidas had a decline in ROCE in the year 2008 and Nike Inc improved their ROCE Due to the recession Adidas and Nike Inc both had a drop in the ROCE and again Adidas had a more major drop if compared to Nike Inc Conclusion Ratio analysis can be used by not only the management to know its status, but as it projects a trend, it can be used by prospective investors, government agencies etc. The investors can decide whether the company is going through a bad phase or the industry or the index as a whole. Ratio analysis makes it possible to measure the effectiveness of any kind of business. Here, we are looking at two companies which sell similar products in the markets and we are able to know which company is better than the other. Say for instance, if the capital employed by one company is more than the other, then even if the profit is higher it does not mean that each investor will get more dividend as number of shareholders will be more. . After comparing both the companies the highlights of the discussion are: Adidas has a higher GPM as compared to Nike Inc showing that direct costs are lower for Adidas as compared to Nike Inc Adidas has a lower NPM than that of Nike Inc showing that the ev en though the GPM is higher for Adidas its indirect costs are so high that its overall profitability has reduced The Stock Turnover of Adidas is low compared to that of Nike Inc showing that Nike Inc is able to convert its stock into turnover faster Having the NPM and the Stock Turnover both higher than Adidas, it shows that Nike Inc have their administration and other indirect expenses lower than that of Adidas Due to recession Adidas would be hit more as the stock turnover ratio is low despite high GPM Adidas has a higher ROCE than that of Nike Inc. The high ROCE indicates that a larger amount of money can be re invested in the company and the company can be called a more efficient one Bibliography

Hamlets Weakness In Hamlet - 1490 Words

â€Å"Frailty, thy name is woman!†(1.2.146). Frailty, according to OxfordDictionaries.com, means: â€Å"the condition of being weak and delicate,† and more specifically: â€Å"weakness in character or morals†. Hamlet, the main character, sees weakness in all women. In Shakespeare’s play Hamlet, he expresses that women are merely weak and almost insignificant to the play, but it can be argued that the women are stronger and do have importance in the story, especially the Queen. She’s very intelligent when it comes to staying in her powerful position and how some manipulative fragments that move the play forward. Despite this, Hamlet sees the women as harlots because of his views on Ophelia and his mother, he even uses their sexuality as a weapon against†¦show more content†¦She moved on from the King Hamlet to King Claudius in a blink of an eye. What Hamlet and many readers fail to see is that Queen Gertrude doesn’t love Claudius, it truly seems that she only married him to keep her status and protect the things she cared for. Meaning that she wasn’t all that frail like Hamlet described her, she was really manipulating events in her favor. Actions like this were intelligent and beneficial for her in the time that she lived. The reason people see Gertrude as weak is most likely because of how she perishes. She commits suicide using a cup poisoned by King Claudius and meant to kill Hamlet. Some believe that she didn’t mean to commit suicide and it was just an accident, but there are reasons to believe that it was not a mishap. The text states: â€Å"The queen carouses to thy fortune, Hamlet. Good madam. Gertrude, do not drink that. I will, my lord. I pray you, pardon me,†(5.2.281-287). This is right before Gertrude causes her death. It can be perceived that Gertrude knew about the poisonous cup because why would she suddenly disobey the King when she has followed his lead for the whole play le ading up to now. She even back talked him; back talking the King could have gotten Gertrude her in trouble, but she did so carelessly like she knew she was going to die. Some may take Gertrude’s suicide as her showing weakness because she felt that she only had power over her â€Å"To be or not to be† as Hamlet puts it. Others feel itShow MoreRelatedWilliam Shakespeares Hamlet964 Words   |  4 PagesWeakness is an inadequate or defective quality in ones character that negates their strength that is often accentuated by an unsatisfactory situation. In William Shakespeares Hamlet, a characters inability to overcome their weakness due to it being emphasized by their unfortunate circumstance results in their tragic downfall. This is illustrated through Hamlets over thinking, Claudiuss ambition, and Gertrudes naive persona. Hamlets character is one that is very thoughtful andRead MoreHamlet’s Struggle with Life and Death1005 Words   |  5 PagesHamlet’s Struggle with Life and Death In Act III, scene I of Hamlet, by William Shakespeare, the thematic imagery, along with the symbolic use of syntax and diction that Shakespeare uses helps convey Hamlet’s state of mind as troubled and as having a painful view to life which, overall, is subtly expressed with weakness as he talked about death. Death is a major theme in Hamlet and through Shakespeare’s astonishing words in his â€Å"To be, or not to be,† soliloquy; it is obvious that Hamlet is conveyedRead MorePerformance vs. Reality in Shakespeares Hamlet884 Words   |  3 PagesPerformance versus reality in Shakespeares Hamlet William Shakespeares tragedy Hamlet has often been described as a play about a man who cannot make up his mind. Yet it could just as easily be described as play about a man putting on a play. Hamlet is obsessed with the discrepancy between what is real and what is performed. Hamlets despair at the difficulty of understanding what is the truth motivates him to put on a play to test his uncle Claudius, to see if Claudius is really the murdererRead MoreThe Effects of Hamlets Indecisiveness in William Shakespeare’s play, The Tragedy of Hamlet664 Words   |  3 PagesHamlet from William Shakespeare’s play, The Tragedy of Hamlet, Prince of Denmark, is unable to commit to a decision throughout the play. His indecisiveness does not allow him to act quickly on any decision, leaving them lingering until it’s too late. Mentally, he thinks too much. Physically, he does not take enough action. Emotionally, his thoughts cause him to do irrational things. His delayed reac tion to take revenge on Claudius results in everyone in the royal family dying. Hamlet’s weaknessRead MoreHamlet by William Shakespeare648 Words   |  3 PagesTo be, or not to be, or maybe just to pretend to be – Hamlet - make up your mind already! Before discussing Hamlet’s hamartia, please let me say that Hamlet is one of my all-time favorite plays. Yes, it is tragic. Yes, they all fall in the end. But, good lord, what action! So, what is this shortcoming the unfortunate Hamlet possesses that brings about his undeserved end? Before discussing the frailty of this tragic hero, let us examine the word, hamartia, used by Aristotle in â€Å"The Poetics†. HamartiaRead MoreWhy Does Hamlet Delay His Revenge? Essay742 Words   |  3 Pages `Hamlet is no doubt one of the greatest literary works ever written. William Shakespeare presents in it complexity of human nature and examination of human behavior. After reading this drama one of the main questions we have to ask is ` Why does Hamlet delay?. Why does he wait so long before taking revenge on Claudius for killing his father? While answering the question about postponement we have to take under consideration few aspects. First of all let us start with probablyRead MoreEssay on The Character of Hamlet in William Shakespeares Play1618 Words   |  7 PagesCharacter of Hamlet in William Shakespeares Play Some critics have stated that the appeal of Hamlet to the audience is his many human weaknesses, the most notable being his indecision. His deliberations and procrastinations are particularly high-lighted when he is faced with the task of revenge. The law and Christianity, around the early seventeenth century, were clear in condemning personal revenge as an attempt by man to arrogate the prerogatives of God. Hamlet’s contradictingRead MoreHamlet, By William Shakespeare1561 Words   |  7 Pagesinvolved. This is evident in William Shakespeare’s Hamlet, where two major female characters, Gertrude and Ophelia, contributed as crucial roles to the development of the tragedy. The plot of the play could not have been developed if it weren’t for Gertrude’s, the Queen of Denmark and mother of Hamlet, marriage to Claudius. Her hasty actions further worsened her relationship with Hamlet, and ultimately brought negative impact to Ophelia, Hamlet’s lover, by causing her bizarre madness. Ophelia’s madnessRead MoreThe Tragic Hero Of Hamlet By William Shakespeare1254 Words   |  6 Pageschoices and actions. Hamlet suffers both private and public, and makes choices that lead to his destruction. Therefore he is a clear representation of Shakespeare’s tragic hero. Hamlet, the play’s tragic hero, exhibits a combination of good and bad traits. He is a complex character and displays a variety of characteristics throughout the play. When introduced in Act, Scene 2, we see Hamlet as a sensitive young prince who is mourning over the death of his father, King Hamlet. Also, his mother’sRead MoreEssay on Conscience of Queen Gertrude in Shakespeares Hamlet1134 Words   |  5 PagesThe Conscience of the Queen William Shakespeare’s play Hamlet is perhaps one of his most intriguing and scandalous pieces of work. One character who is liable for much of this excitement and outrage is Hamlet’s mother, Queen Gertrude. To some readers and critics, Gertrude is conceived as an erratic, superficial and sensual woman. Others discern the Queen as an earnest, intellectual and sagacious woman whose tragic fault is her yearning for sexual satisfaction. Throughout the text, there are

Caveat Emptor free essay sample

Caveat emptor is Latin for Let the buyer beware (from caveat, may he beware, the subjunctive of cavere, to beware + emptor, buyer). Generally, caveat emptor is the property law principle that controls the sale of real property after the date of closing, but may also apply to sales of other goods. Under the principle of caveat emptor, the buyer could not recover damages from the seller for defects on the property that rendered the property unfit for ordinary purposes. The only exception was if the seller actively concealed latent defects or otherwise made material misrepresentations amounting to fraud.Before statutory law, the buyer had no express warranty ensuring the quality of goods. Common law requires that goods must be fit for the particular purpose and of merchantable quality, but this implied warranty can be difficult to enforce and may not apply to all products. Hence, buyers are still advised to be cautious. We will write a custom essay sample on Caveat Emptor or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 1 Definition of Caveat Emptor A Latin phrase for let the buyer beware. The term is primarily used in real property transactions. Essentially it proclaims that the buyer must perform their due diligence when purchasing an item or service.Investopedia explains Caveat Emptor In other words, consumers need to know their rights and be vigilant in avoiding scams. For example in the private purchase of a used car, caveat emptor places an onus on the buyer to make sure the car is worth the purchase price. This is because once the transaction is complete the buyer will not receive a warranty or return option from the seller. As per Advanced Law Lexicon by P. Ramanatha Aiyar, 3rd Edition. 2005 at page 721: Caveat emptor means Let the purchaser beware. It is one of the settled maxims, applying to a purchaser who is bound by actual as well as constructive knowledge of any defect in the thing purchased, which is obvious, or which might have been known by proper diligence. This maxim is used with reference to sale or sales of the properties where the buyer is expected to exercise proper diligence and to inform himself as to its quality and encumbrances. Caveat emptor does not mean either in law or in Latin that the buyer must take chances. It means that the buyer must take care. See Wallis v. Russell [1902] 2 IR 585. 1. ttp://en. wikipedia. org/wiki/Caveat_emptor Caveat emptor  is the ordinary rule in contract. A vendor is under no duty to communicate the existence even of latent defects in his wares unless by act or implication he represents such defects not to exist. (See William R. Anson, Principles of the Law of Contract 245 (Arthur L. Corbin Ed. 3d. Am. ed. 1919) Applying the maxim, it was held that it is the bounden duty of the purchaser to make all such necessary enquiries and to ascertain all the facts relating to the property to be purchased prior to committing in any manner. Caveat emptor, qui ignorare non debuit quod jus alienum emit. A. maxim meaning Let a purchaser beware; who ought not to be ignorant that he is purchasing the rights of another. Hob. 99; Broom; Co. , Litl: 102 a: 3 Taunt. 439. As the maxim applies, with certain specific restrictions, not only to the quality of, but also to the title to, land which is sold, the purchaser is generally bound to view the land and to enquire after and inspect the title-deeds; at his peril if he does not.Upon a sale of goods the general rule with regard to their nature or quality is caveat emptor, so that in the absence of fraud, the buyer has no remedy against the seller for any defect in the goods not covered by some condition or warranty, expressed or implied. It is beyond all doubt that, by the general rules of law there is no warranty of quality arising from the bare contract of sale of goods, and that where there has been no fraud, a buyer who has not obtained an express warranty, takes all risk of defect in the goods, unless there are circumstances beyond the mere fact of sale from which a warranty may be implied.Bottomley v. Bannister(1932) 101 L. J. K. B. 46; Ward v. Hobbs 4 App Cas 13. (Latin for Lawyers) No one ought in ignorance to buy that which is the right of another. The buyer according to the maxim has to be cautious, as the risk is his and not that of the seller. 1 1. http://www. lawyersclubindia. com/articles/Rule-of-Caveat-Emptor-5399. asp#. UZpgLKL-Hmp Caveat Emptor is a common-law maxim that serves as a warning to the buyer of any property, real or personal, that he assumes the risk that the product he is buying might be either defective or unsuitable to his needs.Simply put, it imposes obligation upon the buyer of a property to examine and check for themselves the things that they intend to purchase. In case they comply with this obligation, they cannot later on hold the vendor responsible for the defective or broken condition of the thing bought. It must however be stressed that the doctrine of caveat emptor is not designed to encourage the vendors to engage in fraud or bad faith in dealing with buyers. It only seeks to stress that the buyer has the obligation to examine, judge and double-check the product before it is purchased. In essence, it serves as a guide for the courts to determine whether the vendor or the purchaser should be held responsible for the damaged or defective goods. For instance in the sale of motor vehicle, it is presumed that before the buyer has delivered the purchase price to the vendor, the buyer has examined the motor vehicle and that he is satisfied of its present condition.It is also presumed that the buyer is purchasing the property at the same condition it was bought. The buyer cannot be heard to complain later on and ask for the recovery of the purchase price in case he subsequently finds out that the motor vehicle’s brakes are defective. In the sale of land, it is also presumed that the buyer buys the real property at its present state and condition. In the absence of an express provision in the contract or fraud the buyer is deemed to have pu rchased the land together with its defects. Defects involving land may either be patent, or those that that are obvious, or latent, those that are hidden from view. The doctrine of Caveat Emptor applies only to patent defects. This means that the buyer of a real property is under obligation for his own protection to examine the real property for any obvious defects. Such is the duty of the buyer since the vendor is under no obligation, in the absence of an express provision in the agreement or fraud, to communicate to the buyer any patent defects relative to the acquisition of the land.For instance, the buyer has purchased a house and lot. After full payment of the purchase price, the purchaser cannot be heard to complain and seek to recover damages from the vendor on the ground that the house is made of weak materials or the roof is defective or the tiles composing the floor of the house is damaged since it is presumed that the buyer has examined the property he is buying. It is presumed that he has checked the house and lot for any obvious defects.

Manson Essays - Manson Family, Apocalypticists, Charles Manson

Manson Charles Manson Born no name Maddox in Cincinnati, Ohio, on November 12, 1934, Manson was the illegitimate son of Kathleen Maddox, a 16-year-old prostitute. His surname was derived from one of Kathleen's many lovers, whom she briefly married, but it signified no blood connection. During 1936, Kathleen filed a paternity suit against one Colonel Scott, of Ashland, Kentucky, winning the grand monthly sum of five dollars for the support of Charles Milles Manson. Scott instantly defaulted on the judgment, and he died in 1954, without acknowledging his son. In 1939, Kathleen and her brother were sentenced to five years in prison for robbing a West Virginia gas station. Charles was packed off to live with a strictly religious aunt and her sadistic husband, who constantly berated the boy as a sissy, dressing him in girl's clothing for his first day of school in an effort to help Manson act like a man. Paroled in 1942, Maddox reclaimed her son, but she was clearly unsuited to motherhood. An alcoholic tramp w ho brought home lovers of both sexes, Kathleen frequently left Charles with neighbors for an hour, then disappeared for days or weeks on end, leaving relatives to track the boy down. On one occasion, she reportedly gave Charles to a barmaid, in payment for a pitcher of beer. By 1947, Kathleen was seeking a foster home for her son, but none was available. Charles wound up in the Gibault School for Boys, in Terre Haute, Indiana, but fled after ten months, rejoining his mother. She still didn't want him, and so Manson took to living on the streets, making his way by theft. Arrested in Indiana, he escaped from the local juvenile center after one day's confinement. Recaptured and sent to Father Flanagan's Boy's Town, he lasted four days before his next escape, fleeing in a stolen car to visit relatives in Illinois. He pulled more robberies en route and on arrival, leading to another bust at age 13. Psychology Essays