Investors, Bollenback should address the shareholders directly of the impending situation. It would be important to make sure they know that managements incentives are not necessarily the same as theirs, as can be seen by the lack of executive ownership at ITT. Investors must know about the haphazard changes management has taken in recent in order to improve their stock price. ITT management cited the interests of shareholders and ITT employees interests as reasons not to accept a bid, yet they
Yaxley v. Gotts (1999) and Stack v. Dowden (2007). This essay will describe the relevant judgements in these cases in order to show the differences between the two doctrines. Lord Denning described estoppel succinctly as ‘a principle of justice and equity. It comes to this: when a man, by his words or conduct, has led another to believe in a particular state of affairs, he will not be allowed to go back on it when it would be unjust or inequitable for him to do so’ . Proprietary estoppel in turn is
Current English land law on the co-ownership of interests of land has developed quite a contentious history pertaining to the relationship between the acquisition of rights and the quantification of the shares. In terms of co-ownership, there are huge variances and legal consequences when legal ownership is in one person’s name compared to two. These differences can be seen in various landmark cases which have created precedent and developed refined principles such as Lloyds Bank plc v Rosset and
Through the fusion of equity to common law we can see that equity has this aspect of flexibility which it offers to common law. This idea of flexibility is beneficial because common law is based on a rigid system where the actions are monitored by a system of rules and judgements, equity goes on to offer an aspect of flexibility to this rigid system of common law. Through the evolvement of equity, we see that people gain equitable interest as well as legal interest, especially with regards to property
given on Exhibit 11 was 5.29% . Using the book value D/E ratio and other relevant information as given on Exhibit 10, such as the risk free rate or 4.56% and the given risk premium of 5%, the WACC for the proj... ... middle of paper ... ... on equity. Clearly all these variables play an important part on the WACC of a project and should be thoroughly examined. Despite the uncertainty and inherent risks, however, even if WACC exceeds IRR, the board may be well advised to accept the project
distracting muse for our ire. The real causes for the foreclosure and overall financial crisis have more to do with laissez faire market system in general. Now laissez faire market theory in and of itself is not the problem, but it only works when land ownership is a right, not just a goal. It also only works when the money system follows this paradigm. Basically sovereignty must return to the people. The people must own the land thus control the money and the means of production. When corporations own land
A title insurance protects you from any complications arising from title (ownership) issues on the new house. The home might have been through several ownership changes before you bought the home, and also the land upon which it stands may have been through even more transfers. It is possible that a weak link at any part of the chain of title could cause ownership problems. As an example, someone may have forged a signature when transferring title, or there might be unpaid property taxes or liens
effectively transferring property to trustees or by effectively declaring a trust. In case of personal property, the declaration of the trust may be put in writing; however, equity will not perfect an imperfect gift. It is only when the trust is constituted that it is binding on the settlor. The long-standing idea that equity will not perfect an imperfect gift can be traced back to the 19th century cases of Ellison v Ellison and Milroy v Lord , and was further emphasized in the 20th century in the
a well founded basis for uniformity. People who study differences among systems of accounting rules are inclined to group countries into two categories. On the one hand, there are countries where business finance is provided more by loans than by equity capital, where accounting rules are dominated by taxation considerations and where legal systems customarily incorporate codes with detailed rules for matters such as accounting. The effect of taxation systems can be particularly pervasive. Often
(Declaration of Independence,1776) This quote is symbolic of the expressed opinions and ideology of the founding fathers of America. History, especially the history of the American educational system, paints a contradictory portrait. Idealistic visions of equity and cultural integration are constantly bantered about; however, they are rarely implemented and materialized. All men are indeed created equal, but not all men are treated equally. For years, educators and society as a whole have performed a great
Equity in the Classroom The concerns regarding equity issues in math and science may seem minimal, but in reality are very large. Usually unintentionally, teachers pay more attention, and give more positive attention to boys in their classrooms. This is especially noticed in the areas of math and science. “Girls are equal to or ahead of boys in achievement” (Sadker, 1993, p. 67) in the early stages of schooling. So why do boys seem to do so much better in math and science in the later school
doctrine of unconscionable bargains can be regarded as difficult to define but various cases have succeeded in refining the doctrine to a simple understanding. In Evans v Llewllin, unconscionable bargains is a well established jurisdiction in equity to relief against transaction regarded as considerably disadvantageous to the complainant, who is in a special position of weakness compared to the defendant and where transaction was procured by the defendant in a morally culpable manner. The power
Section 16 (3) of the Contracts Act 1957: Where a person who is in a position to dominate the will of another, enters into a contract with him, and the transaction appears, on, the face of it or on the evidence adduced, to be unconscionable, the burden of proving that the contract was not induced by undue influence shall lie upon the person in a position to dominate the will of the other. Section 16(3) placed unconscionable bargain as a part of proving undue influence. Relying on an Indian case of
During my second year at YLS, the focus of my studies has shifted. Whereas the majority of my studies in year one revolved around the common law, this last year my legal education has focused upon the prevalence of the courts of equity in relation to the law of obligations and the law of property. Most notably, I have explored the far-reaching application of equitable redress. Additionally, another topic, which was touched upon last year, has been a core element of my work in relation to the interaction
trust implies that the trust property is conferred to the trustees and the trust is binding on the donor who cannot revoke the trust. When the trust property is not properly vested the trust is considered incompletely constituted and it is void as equity will not force the donor to complete the trust. The principles of constitution of trusts are derived from the case of Milroy v Lord (1862 where turner L.J. stated that the complete constitution of a trust requires the actual transfer of property
The Special equity relating to wives whom act as guarantors of their husband’s debt was refined by Dixon J who gave the leading judgment in the case of Yerkey v Jones. The essence of the principle was that if a wife who is the surety of her husband’s debt doesn’t understand essential information, due to the fact that the creditor has relied on the husband to inform his wife, and not dealt with her personally, the wife has a prima facie right to have the debt set aside. The principle has faced
Upon fulfillment of the four criteria, namely that the defendant has been unjustly enriched at the claimant’s expense and there are no defenses available for the defendant, a claimant may qualify for restitution of unjust enrichment as established in Banque Financiere de la Cite v Parc (Battersea) Ltd. Change of position is one of the possible defences which may be used in occasions where it would be excessive to allow a claimant to claim restitution at the defendant’s expense. This essay will evaluate
Washington D.C., 1989. "Environmental Racism?" Wilson Quarterly. Spring 1995, Volume 19:2. Sachs, Aaron. Eco-Justice: linking human rights and the environment. Worldswatch Insititute: Washington D.C., 1995. Reilly, William K. "Environmental Equity: EPA's position." EPA Journal. March/April 1992, Volume 18:1.
substantially different, pay less and confer less authority. Equity means fairness and justice. Pay equity programs throughout the world attempt to legislate and regulate the elimination of systemic gender-based wage discrimination and to ensure ongoing systems that will maintain equitable wage relationships over time. Pay equity programs attempt to address the undervaluation for work traditionally or historically done by women. Pay equity (also referred to as “comparable worth”) programs require a
Equity in the Workplace Employment, Inc is committed to a policy, as stated by the Federal Employment Equity, of achieving equality in the workplace so that no person is denied employment opportunities, pay or benefits for reasons unrelated to ability. Employment, Inc is therefore committed to equal employment opportunities, as stated by the Civil Rights Act of 1964, for all applicants and employees without regard to age, race, color, religion, national origin, sex, physical or mental disability