for the past three years, I have been able to make my own decisions as I am in a foreign country with no adult supervision, and it has allowed me to make certain observations, one of which includes the way tenancy agreements are made.
Unfortunately in the area I live in, it is mostly students, who also happen to be internationals. they sign contracts for apartments which often are for one year to two years. Landlords then often decide to end a contract, often giving up to only two weeks notice to tenants to find alternative housing. They may even change the agreement after the deal has been made, and although it is often an oral agreement, it needs to be upheld, because if for example, your potential landlord promises you a furnished apartment, and you only get a partially furnished apartment and discover this after paying deposit and moving in, it becomes difficult to move out again and you would have paid the full deposit amount for less than what was agreed upon.
as students, especially internationals, this becomes a major problem because in most cases, there is nobody who can easily help solve such problems.
there needs to be tougher laws on landlords, in order to ensure such situations do not become a regular occurrence, as well as on the tenants, who in certain situations may want to abuse the rights they have.
Thursday, April 22, 2010
CO2
One of the major problems we are facing in today's economy is the large increase in the industrial businesses. Although they do show us the benefit of providing us with useful goods, as well as the beauty of it providing employment, it does also come with the negative aspect of its greenhouse gas emissions.
The greenhouse effect has been a great problem which few people have been paying much attention to in the past. It is recently however, that more care is taken in making sure that something is done.Caps have been put on the amount of annual gas emissions by companies, who happen to be one of the highest contributors to these gas emissions. This strategy however, is more effective in countries such as the United States. This is because developing countries rely heavily on the success and output of these factories, so if a stringent cap is placed on their output, it will have great negative impact on their produce.
Large retailers however, such as Wal-Mart have taken the initiative to preserving the environment.
"Wal-Mart Stores Inc. wants its suppliers to reduce 20 million metric tons of greenhouse gas emissions by the end of 2015.
The world's largest retailer's push goes beyond its efforts to date to reduce its own emissions by designing more energy-efficient stores and pursuing alternative fuels for its fleet of trucks.
The goal is equivalent to taking 3.8 million cars off the road for a year, the company said.
Wal-Mart is collaborating with the Environmental Defense Fund and other environmental experts to measure reduction. It said it won't force suppliers to make changes but will work with them on projects that will reduce both emissions and costs.
In the past few years, the company has been working with suppliers to reduce packaging, which has translated into such changes as more concentrated detergent products and toothpaste that's no longer in a box."
http://www.msnbc.msn.com/id/35590136/ns/business-going_green/
To me this is a great step that Wal-Mart is taking since it happens to be one of the largest and most influential retailers in the US, as well as other countries around the world. Other companies may be willing to emulate them thereafter.
The greenhouse effect has been a great problem which few people have been paying much attention to in the past. It is recently however, that more care is taken in making sure that something is done.Caps have been put on the amount of annual gas emissions by companies, who happen to be one of the highest contributors to these gas emissions. This strategy however, is more effective in countries such as the United States. This is because developing countries rely heavily on the success and output of these factories, so if a stringent cap is placed on their output, it will have great negative impact on their produce.
Large retailers however, such as Wal-Mart have taken the initiative to preserving the environment.
"Wal-Mart Stores Inc. wants its suppliers to reduce 20 million metric tons of greenhouse gas emissions by the end of 2015.
The world's largest retailer's push goes beyond its efforts to date to reduce its own emissions by designing more energy-efficient stores and pursuing alternative fuels for its fleet of trucks.
The goal is equivalent to taking 3.8 million cars off the road for a year, the company said.
Wal-Mart is collaborating with the Environmental Defense Fund and other environmental experts to measure reduction. It said it won't force suppliers to make changes but will work with them on projects that will reduce both emissions and costs.
In the past few years, the company has been working with suppliers to reduce packaging, which has translated into such changes as more concentrated detergent products and toothpaste that's no longer in a box."
http://www.msnbc.msn.com/id/35590136/ns/business-going_green/
To me this is a great step that Wal-Mart is taking since it happens to be one of the largest and most influential retailers in the US, as well as other countries around the world. Other companies may be willing to emulate them thereafter.
Thursday, April 15, 2010
Condition and warranty
Both conditions and warranties are terms in a contract.
Condition is necessary for a clear understanding of the contract. it may either be written or oral. Breaching the contract therefore means the contract may be discharged.
Warranty mainly focuses on the collateral aspect of an agreement.it is therefore not very important in affecting the discharge of a contract.Warranty means the affected party will only be liable to receive some form of compensation, as opposed to terminating the contract.
Poussard v Spiers is an example of terms of condition which was breached. madamme Poussard was to perform Spiers and Pond's French opera at the Criterion Theatre, where the letter of engagement. The letter of engagement read as follows;
“Criterion Theatre, Oct. 16th, 1874. “To Madame Poussard. “On behalf of Messrs. Spiers & Pond I engage you to sing and play at the Criterion Theatre on the following terms:— “You to play the part of Friquette in Lecocq's opera of Les Pres Saint Gervais, commencing on or about the fourteenth of November next, at a weekly salary of eleven pounds (11l.), and to continue on at that sum for a period of three months, providing the opera shall run for that period. Then, at the expiration of the said three months, I shall be at liberty to re-engage you at my option, on terms then to be arranged, and not to exceed fourteen pounds per week for another period of three months. Dresses and tights requisite for the part to be provided by the management, and the engagement to be subject to the ordinary rules and regulations of the theatre. “Ratified: … “E. P. Hingston, Manager. “Spiers & Pond. “Madame Poussard, 46, Gunter Grove, Chelsea.”
Unfortunately Madame Poussard was taken ill just before rehearsals were finished and she could learn all her music, and the show was also delayed by the organisers. someone was brought in to replace her (Miss Lewis) and they then wanted her to replace Madame Poussard, and Mr Poussard claimed for wrongful dismissal on his wife's behalf since Madame Poussard was eventually able to return to work.
The jury found that the plaintiff did not withdraw from the contract
There was no substantial conflict as to what was in fact done by Mrs. Liston, who was the stage manager. Upon learning, on the 25th of November, the possibility that Madame Poussard might be prevented by illness from fulfilling her engagement, she sent to a theatrical agent to inquire what artistes of position were disengaged, and learning that Miss Lewis had no engagement till the 25th of December, she made a provisional arrangement with her, by which Miss Lewis undertook to study the part and be ready on Saturday to take the part, in case Madame Poussard was not then recovered so far as to be ready to perform.
Condition is necessary for a clear understanding of the contract. it may either be written or oral. Breaching the contract therefore means the contract may be discharged.
Warranty mainly focuses on the collateral aspect of an agreement.it is therefore not very important in affecting the discharge of a contract.Warranty means the affected party will only be liable to receive some form of compensation, as opposed to terminating the contract.
Poussard v Spiers is an example of terms of condition which was breached. madamme Poussard was to perform Spiers and Pond's French opera at the Criterion Theatre, where the letter of engagement. The letter of engagement read as follows;
“Criterion Theatre, Oct. 16th, 1874. “To Madame Poussard. “On behalf of Messrs. Spiers & Pond I engage you to sing and play at the Criterion Theatre on the following terms:— “You to play the part of Friquette in Lecocq's opera of Les Pres Saint Gervais, commencing on or about the fourteenth of November next, at a weekly salary of eleven pounds (11l.), and to continue on at that sum for a period of three months, providing the opera shall run for that period. Then, at the expiration of the said three months, I shall be at liberty to re-engage you at my option, on terms then to be arranged, and not to exceed fourteen pounds per week for another period of three months. Dresses and tights requisite for the part to be provided by the management, and the engagement to be subject to the ordinary rules and regulations of the theatre. “Ratified: … “E. P. Hingston, Manager. “Spiers & Pond. “Madame Poussard, 46, Gunter Grove, Chelsea.”
Unfortunately Madame Poussard was taken ill just before rehearsals were finished and she could learn all her music, and the show was also delayed by the organisers. someone was brought in to replace her (Miss Lewis) and they then wanted her to replace Madame Poussard, and Mr Poussard claimed for wrongful dismissal on his wife's behalf since Madame Poussard was eventually able to return to work.
The jury found that the plaintiff did not withdraw from the contract
There was no substantial conflict as to what was in fact done by Mrs. Liston, who was the stage manager. Upon learning, on the 25th of November, the possibility that Madame Poussard might be prevented by illness from fulfilling her engagement, she sent to a theatrical agent to inquire what artistes of position were disengaged, and learning that Miss Lewis had no engagement till the 25th of December, she made a provisional arrangement with her, by which Miss Lewis undertook to study the part and be ready on Saturday to take the part, in case Madame Poussard was not then recovered so far as to be ready to perform.
Monday, April 5, 2010
Lee v Lee's Air Farming
The case of Lee v Lee's Air Farming concerns the veil of incorporation and separate legal personality.the appellant's husband held 99% of the company's shares. he was killed while on the job, due to a plane crash. Mrs Lee then claimed for compensation under the Workmen's compensation Act 1922. The Court of Appeal held that since the deceased was the governing director and had full control of the company, he could not also be an employee of the company.
After appealing the case, it was ruled that an owner can also qualify to be an employee of the same business.the company was considered to be a separate legal person.
It is an agreeable analysis on separating a company and its owners or shareholders. It is necessary, especially in cases where entrepreneurs are also solely dependent on the business which they have invested in. Just as in any business, you need to be able to claim such things as insurance, all employees should be able to receive these benefits regardless of how much they have invested in the business.
http://davidscrimshaw.blogspot.com/2005/10/keywords-breakfast-beans-and-lees-air.html#starthere
http://en.wikipedia.org/wiki/Lee_v_Lee%E2%80%99s_Air_Farming
After appealing the case, it was ruled that an owner can also qualify to be an employee of the same business.the company was considered to be a separate legal person.
It is an agreeable analysis on separating a company and its owners or shareholders. It is necessary, especially in cases where entrepreneurs are also solely dependent on the business which they have invested in. Just as in any business, you need to be able to claim such things as insurance, all employees should be able to receive these benefits regardless of how much they have invested in the business.
http://davidscrimshaw.blogspot.com/2005/10/keywords-breakfast-beans-and-lees-air.html#starthere
http://en.wikipedia.org/wiki/Lee_v_Lee%E2%80%99s_Air_Farming
Saturday, April 3, 2010
Subsidiary and holding company
According to wikipedia, "A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself, rather its only purpose is owning shares of other companies. Holding companies allow the reduction of risk for the owners and can allow the ownership and control of a number of different companies. In the U.S., 80% or more of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed."
A subsidiary company has been further defined as, "an entity that is controlled by a separate higher entity[citation needed]. The controlled entity is called a company, corporation, or limited liability company; and in some cases can be a government or state-owned enterprise, and the controlling entity is called its parent (or the parent company). The reason for this distinction is that a lone company cannot be a subsidiary of any organization; only an entity representing a legal fiction as a separate entity can be a subsidiary."
The companies that I have been able to identify as being holding or subsidiary banks are as follows:
Holding company Subsidiary compan(y)ies
Citigroup Holding Private (Ltd) Citibank Berhad
Perwira Bintang Construction Sdn Bhd Perwira Bintang Holdings Sdn Bhd
Pesaka Trengganu Bhd
Pet Master Sdn Bhd
http://en.wikipedia.org/wiki/Holding_company
http://en.wikipedia.org/wiki/Subsidiary
http://www.ssm.com.my/acts/fscommand/a0125s0005.htm
A subsidiary company has been further defined as, "an entity that is controlled by a separate higher entity[citation needed]. The controlled entity is called a company, corporation, or limited liability company; and in some cases can be a government or state-owned enterprise, and the controlling entity is called its parent (or the parent company). The reason for this distinction is that a lone company cannot be a subsidiary of any organization; only an entity representing a legal fiction as a separate entity can be a subsidiary."
The companies that I have been able to identify as being holding or subsidiary banks are as follows:
Holding company Subsidiary compan(y)ies
Citigroup Holding Private (Ltd) Citibank Berhad
Perwira Bintang Construction Sdn Bhd Perwira Bintang Holdings Sdn Bhd
Pesaka Trengganu Bhd
Pet Master Sdn Bhd
http://en.wikipedia.org/wiki/Holding_company
http://en.wikipedia.org/wiki/Subsidiary
http://www.ssm.com.my/acts/fscommand/a0125s0005.htm
Saturday, March 13, 2010
Unclaimed Moneys Act 1965
http://www.lawyerment.com/library/kb/Banking_and_Finance/Banking/1152.htm
http://www.anm.gov.my/public_html/eng/default/khidmat.php
unfortunately in the business world, although ethics should be practised, it is not often done. A lot of corruption occurs and almost all the time, there will be someone who gets the short end of the stick. this is why there is a need to have acts imposed such as the unclaimed Moneys Act.
This ultimately is a way of making sure the unclaimed moneys is not kept by businesses for their own benefits. So what qualifies to be unclaimed money?
Moneys which are legally payable to the owner but have remained unpaid for a period of not less than one year.
Examples under this category are :
salaries, wages, bonuses, commissions and other payments due to employees;
dividends
profits declared for distributions;
insurance claims which have been approved for payment;
bank draft, cashier's order and other documents of similar nature which validity period have lapsed;
fixed deposits (without automatic renewal instructions) which have matured;
tender deposits for which the intended purpose has been fulfilled;
sundry creditors or sundry debtors with credit balance.
http://www.anm.gov.my/public_html/eng/default/khidmat.php
unfortunately in the business world, although ethics should be practised, it is not often done. A lot of corruption occurs and almost all the time, there will be someone who gets the short end of the stick. this is why there is a need to have acts imposed such as the unclaimed Moneys Act.
This ultimately is a way of making sure the unclaimed moneys is not kept by businesses for their own benefits. So what qualifies to be unclaimed money?
Moneys which are legally payable to the owner but have remained unpaid for a period of not less than one year.
Examples under this category are :
salaries, wages, bonuses, commissions and other payments due to employees;
dividends
profits declared for distributions;
insurance claims which have been approved for payment;
bank draft, cashier's order and other documents of similar nature which validity period have lapsed;
fixed deposits (without automatic renewal instructions) which have matured;
tender deposits for which the intended purpose has been fulfilled;
sundry creditors or sundry debtors with credit balance.
Malaysian law
The Malaysian legal system is based on English common law, and that is a very good thing for the country because the English common law is used internationally, and therefore people from around the world are able to identify with it.
If there are any problems with the Justice system within the country, they may require assistance from international sources to help them rule. This is a practice which Malaysia is familiar with since before January 1, 1985, the Federal Court was the highest court in the country but its decisions were further appealable to the Privy Council in London. Although it is not a common practice in today's age, it is still possible to request for assistance from these other countries if adequate rulings cannot be made, especially since they are neutral third parties.
http://jurist.law.pitt.edu/WORLD/malaysia.htm
If there are any problems with the Justice system within the country, they may require assistance from international sources to help them rule. This is a practice which Malaysia is familiar with since before January 1, 1985, the Federal Court was the highest court in the country but its decisions were further appealable to the Privy Council in London. Although it is not a common practice in today's age, it is still possible to request for assistance from these other countries if adequate rulings cannot be made, especially since they are neutral third parties.
http://jurist.law.pitt.edu/WORLD/malaysia.htm
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