Uk Separate Legal Entity Concept - 9457 Words

CORPORATIONS AND LEGAL PERSONALITY THE DOCTRINE OF INCORPORATION Module 4.1 COMPANY (artificial or abstract legal person) A company is an artificial (as opposed to a natural) person which is an entity in its own right with a legal personality separate from that and independent of its shareholders (members/owners) or directors (managers). V E I L SHAREHOLDERS (Members) DIRECTORS (Management) EMPLOYEES (natural legal persons) Relevant Case Authority O F MACAURA v NORTHERN LIFE ASSURANCE (1925) M sold his forest to a company in which he owned all the shares. M had previously insured the forest in his own name but omitted to change the relevant policy to state the name of the company as owner. The forest was later destroyed by†¦show more content†¦A company has the capacity to enter into contracts in its own name. (Because it has unlimited liability all its assets may be utilised to discharge debts). A company may have liability in tort vis a vis third parties who may have suffered injury, loss or damage by virtue of the acts or omissions of the company’s employees or agents. Cases in Point As previously observed, the SALOMON principle of separate legal personality has, benefited the shareholders of companies (refer LEE v LEE’s AIR FARMING LTD (1960). However: The price of such a benefit is sometimes borne by the creditors, in conformity with the general philosophy of the Companies Acts. (in that they cannot sue individual shareholders or directors) But! It is sometimes the case that a strict application of the SALOMON principle may result in a situation where the separate personality doctrine is likely to be abused or to lead to unjust consequences. In such circumstances, the courts and the legislature (Parliament) have intervened to lift the veil of incorporation with the result that a company will not be treated as a separate legal entity (it is said that the veil is â€Å"lifted†, â€Å"pierced† or â€Å"set aside† to reveal the identity of shareholders – or directors - with a view to ascribing liability on these individuals if cir cumstances warrant this) . Although in certain cases the courts have strictly applied the SALOMON principle, they have, on occasions, intervened toShow MoreRelatedThe Principles Of The Company Law, The Uk Cape Industries Line Of Cases1564 Words   |  7 PagesThe Salomon principle dictates that if the company is established in accordance with the requirements of the Companies Act 2006, it starts to operate as a separate legal entity. The corporate veil becomes the dividing line between this entity and its shareholders. However, it soon became obvious that this concept can be easily abused, therefore Courts fought hard in order to establish exceptions to the Salomon principle in the form of lifting or piercing the veil, allowing them to look behind theRead MoreThe Corporate Veil : Saloman And Beyond1269 Words   |  6 Pagesto promote the expansion of the economy. Humans are generally legal persons, they are bound by the legal system in which they find themselves. A dictionary definition of, ‘person refers to an individual human being, in law, however, the word has a more technical meaning ‘a subject of rights and duties A company, upon incorporation, becomes a corporate body under s.16 (2) of the Companies Act 2006, with which comes a separate legal personality distinct from its shareholders. Company law aimsRead MoreA Separate Legal Personality ( Slp )1604 Words   |  7 PagesYes I do agree with the judicial statement. A company is bestowed a separate legal personality (SLP) from its incorporators when created in accordance with the Companies Act 1985 and now in Companies Act 2006. This is crucial as it allows it to sue or be sued in its own name and to be liable for its own debts as in Lee v Lee Air Farming . As a separate legal entity, a company can enter into contractual relation with its member, shareholder or a director. It will not prohibit them from contractingRead MoreIasbs Conceptual Framework2891 Words   |  12 PagesA Report on the Significance of the IASB’s Conceptual Framework and the Exposure Draft ‘Conceptual Framework for Financial Reporting – The Reporting Entity’ Introduction This report is intended to discuss the significance of the IASB’s Conceptual Framework. It will layout the basis of the Conceptual Framework and then discuss its significance and relevance with regards to previous and future accounting industry standards. Findings The IASB’s (International Accounting Standards Board)Read MoreThe Ethics Of The Corporate Veil2801 Words   |  12 Pages‘Lifting the corporate veil’ has been the topic of the legal arguments for many years. The corporate veil refers to a principle where a registered company has a separate personality from its shareholders. As a result, the shareholder was not liable for any liabilities that his company had obtained. However, in some severe circumstances, it is important that the separate identity must not be allowed to use as a protection to wrongful act. In some situation, the corporate veil can provide harmfulRead MoreThe And Necessity Of Lifting The Corporate Veil3009 Words   |  13 Pages1. Introduction ‘Lifting the corporate veil’ has been the topic of interest for the legal profession. This principle mentions to the possibility of considering towards the company structureor the company’s separate personality to make the members liable towards their company’s debt. In respect of a limited liability company , this has been the most favoured business form for investors.Being a shareholder means that individuals obtain unlimited corporation’s profit whereas they are liable for company’sRead MoreWhat Circumstances Do, And Should, Uk Courts Lift The Corporate Veil?2812 Words   |  12 Pages‘In what circumstances do, and should, UK courts ‘lift the corporate veil?’ Introduction ‘Lifting the corporate veil’ has been the topic of the legal arguments for many years. The corporate veil refers to a principle where a registered company has a separate personality from its shareholders. As a result, the shareholder was not liable for any liabilities that his company had obtained. However, in some severe circumstances, it is important that the separate identity must not be allowed to use asRead MoreThe Doctrine Of Separate Personality And Lifting The Veil Of Incorporation2022 Words   |  9 PagesThe Doctrine of Separate Personality has been an important aspect in the Company Law for a long time. It had been discussed heavily in the Salomon v Salomon CO (1987) which was the leading case for this matter (Dine and Koutsias, 2009, p.17). In fact, it may be the most well-known case in the company law. Company law is simply any laws that related to organizations and businesses in the UK. However, the one that established the doctrine of separate persona lity is not from Salomon case, it simplyRead MoreFeatures Of Disputes Regarding The Company Act Of 2006961 Words   |  4 Pagesby using techniques known as â€Å"squeeze out† (Hollington, 2007). Thus, it is crucial to understand the concept of disputes of shareholders to better understand the barriers of collaboration with regard to the Company Act of 2006. 2.2 The company act 2006 Provisions such as limited liability on part of auditors, increased interest for shareholders, etc. are part of the Companies Act of 2006 in the UK. This Act includes limited liability by contract with regard to such an amount which is deemed reasonableRead MoreThe Principle of Separate Corporate Personality2932 Words   |  12 PagesThe Principle of Separate Corporate Personality The principle of separate corporate personality has been firmly established in the common law since the decision in the case of Salomon v Salomon Co Ltd, whereby a corporation has a separate legal personality, rights and obligations totally distinct from those of its shareholders. Legislation and courts nevertheless sometimes pierce the corporate veil so as to hold the shareholders personally liable for the liabilities of the corporation. Courts

The Strange Case of Dr. Jekyll and Mr.Hyde - 780 Words

Imagine having two people living in one body. One might be more powerful than the other. For Dr. Jekyll, he is a well-respected man around town, but wants a change in his life. Mr. Hyde is Dr. Jekyll’s other half that does many crimes throughout the story. There is a mystery the entire time until the end. In the novel, The Strange Case of Dr. Jekyll and Mr. Hyde, written by Robert Louis Stevenson; Dr. Jekyll changes into Mr. Hyde by drinking a potion that he has made himself. Mr. Hyde has many traits that differ from Dr. Jekyll, including being ugly, wicked, and ape-like. The first person to encounter Mr. Hyde was Mr. Enfield, who thought Mr. Hyde was ugly. As Mr. Enfield sees Mr. Hyde raping the little girl, Hyde is forced to pay for all the damage. Hyde has to make Enfield a check and go to the little girl’s family to tell them what he did. This is the first time Enfield sees Hyde. â€Å"He was perfectly cool and made no resistance, but gave me one look, so ugly that it brought out the sweat on me like running.† (Stevenson 4) Hyde’s characteristic are reflecting by Enfield saying that Mr. Hyde is so ugly that he looked fine until he looked at Enfield. Upon looking at him he was sweating so bad, which made him, look like he went on a run. â€Å"He is not easy to describe. There is something wrong with his appearance; something displeasing, something downright detestable. I never saw a man I so disliked, and yet I scarce know why. He must be deformed somewhere; he gives a strongShow MoreRelatedA Sense of Atmosphere in The Strange Case of Dr. Jekyll and Mr.Hyde828 Words   |  4 PagesA Sense of Atmosphere in The Strange Case of Dr. Jekyll and Mr.Hyde Introduction: The tension and suspense in the novel begins with the title, The Strange Case of Dr Jekyll and Mr Hyde. It makes you want to know what the strange case was and how it affected the characters. One day, Utterson was out walking with the town distant kinsman Mr. Enfield when they passed a house Mr.Enfield tells Mr Utterson a strange case about the house. Description of the house makesRead MoreAnalysis of Dr. Jekyll and Mr. Hyde Essay557 Words   |  3 PagesAnalysis of Dr. Jekyll and Mr. Hyde Everyone has heard of Jekyll and Hyde. The two infamous characters that portray the main roles in The Strange Case of Dr.Jekyll and Mr.Hyde. Yet, even with this phenomenal status of the book, surprisingly, not many people know what is really represented inside its pages. Firstly, to understand what made The Strange Case of Dr.Jekyll and Mr.Hyde a classical story known by young and old alike, we must look at where it began. AsRead MoreDuality Of Human Nature949 Words   |  4 Pagesnovel The Strange Case of Dr.Jekyll and Mr.Hyde by Robert Louis Stevenson, the play Romeo and Juliet by William Shakespeare, and the short story William Wilson by Edgar Allan Poe, the idea of duality is explored deeply and is one of the main themes of these works. In The Strange Case of Dr.Jekyll and Mr.Hyde, Dr. Jekyll is a well-respected scientist in London. This novel takes place in the Victorian Era, or in the mid-1800s to the 1900s, when the expectations society had were harsh. Dr. Jekyll felt thatRead MoreThe Strange Case Of Dr. Jekyll And Mr. Hyde900 Words   |  4 Pagestheir lives because nobody should bottle their emotions up. One man’s dark temptations are looked at in The Strange Case of Dr. Jekyll and Mr. Hyde by Robert Louis Stevenson. In this novel, it starts out introducing Mr.Utterson who is a lawyer. He is walking with his cousin Mr. Enfield and they find a door which leads them to a house. Mr. Enfield starts telling a story and that is how Mr.Hyde and Dr.Jekyll are introduced. â€Å" All at once, I saw two figures: one a little man who was stumping along eastwardRead MoreThe Strange Case Of Dr. Jekyll And Mr. Hyde By Robert Stevenson952 Words   |  4 Pagescreated before. Without a guaranteed safe outcome, how can an inventor be sure what they have produced is without a flaw? The answer is simple; they cannot. This is why the monster in Frankenstein by Mary Shelley, and Mr. Hyde in The Strange Case of Dr.Jekyll and Mr.Hyde by Robert Stevenson, is so unstable and causes so much trauma. These novels stem off the idea of a creator and creature relationship gone awry. Both creators were too entertained in creating things without a regards to the consequencesRead MoreThe View of Human Nature Presented in Dr. Jekyll and Mr. Hyde3064 Words   |  13 PagesStevenson present in the novel The strange case of Dr. Jekyll and Mr. Hyde? The strange case of Dr. Jekyll and Mr. Hyde Question: What view of human nature does Stevenson present in the novel â€Å"The strange case of Dr. Jekyll and Mr. Hyde†? Throughout Stevenson’s life he experienced things by looking at them in two different perspectives. He later went on to exhibit his experiences by writing a novel about split personality called â€Å"The strange case of Dr. Jekyll and Mr. Hyde†. This essay willRead MoreThe Strange Case Of Dr. Jekyll And Mr. Hyde : Literary Review1515 Words   |  7 PagesThe Strange Case of Dr. Jekyll and Mr. Hyde: Literary Review The Romantic era was plagued with class conflict, poverty, and labor issues. The Victorian novel allows those who had access to them discover and focus on moral issues with society. Among the novel that were created during the era, the genre of a gothic novella emerged. Well knowns gothic novellas included Frankenstein, The Picture of Dorian Gray, and The Strange Case of Dr. Jekyll and Mr. Hyde. Robert Stevenson’s gothic novella The StrangeRead More Comparing League of Extraordinary Gentlemen, Mary Reilly, and Dr. Jekyll and Mr. Hyde2163 Words   |  9 PagesLeague of Extraordinary Gentlemen, Mary Reilly, and Dr.Jekyll and Mr.Hyde      Ã‚   Robert Louis Stevensons short novel, The Strange Case of Dr. Jekyll and Mr. Hyde has spawned many retellings of Dr. Jekylls tale, as well as variations on the theme. The Jekyll and Hyde conceit is one that lends itself to many different forms of literature, such as motion pictures and sequential art. Sometimes liberties are taken in reinterpretations of Mr. Hyde from the original textRead MoreThe Kingdom : Movie, Beauty And The Beast1758 Words   |  8 Pagesright thing, to save the kingdom. This movie has an important, underlying lesson: only one can choose who they want to be in life and that even the wicked know when to do what is right. Similar to Descendants, the novels Dracula and The Strange Case of Dr Jekyll and Mr Hyde use this same concept, but through the ideas of mental illness, religion, and medicine. The message--even the wicked know when to do what is right-- is demonstrated in the ideas of mental illness, religion, and medicine in the

Thing They Carried Essay Free Essays

Alexandra Berliner Eshoo English 12 11/28/11 Something A Soldier Ignores: Death Fatalities are part of every person’s life. To a normal citizen, death is often followed by sadness and grief. As portrayed in â€Å"The Things They Carried† by Tim O’Brien, a soldier has to deal with the situation much differently. We will write a custom essay sample on Thing They Carried Essay or any similar topic only for you Order Now Death is portrayed in a negative light due to the fact that soldiers are greatly fearful of it and that they are forced to be unaffected by death. In order to cope with all the deaths he witnessed, O’Brien uses the retelling of war stories to heal from these traumatic events. Throughout the novel, death is definitely portrayed as being a very negative part of war. Because it is such a negative thing, death tends to instill fear in soldiers. From the beginning of the novel, death is truly portrayed as being a very negative risk that anyone at war deals with: â€Å"Beyond all this, or at the very center, was the raw fact of terror. I did not want to die. Not ever† (44). It is known that death could be the outcome of going to war, and many of these young soldiers do not want to die. Even though many soldiers end up going to war anyway, they are still fearful of death being a possible outcome for them. All of this fear and anxiety associated with war ultimately leads most people to view death in a negative light. It is definitely something that soldiers want to avoid, and even if they are not killed, death still has negative affects on them. In addition to death being portrayed in a negative light from the beginning of the novel, the soldiers are forced to be unaffected by death. As a result, it is seen how war changes people in a negative way. Once the war is all over, the negative affects are still present, and O’Brien deals with them through retelling the past. It is seen that anyone that becomes involved in war eventually learns to be unaffected by death when one of the soldiers’ girlfriends comes to visit. She never leaves because she becomes fully invested in the war: â€Å"She was dangerous. She was ready for the kill† (116). When the girlfriend first came to the war site, she was innocent. Now, she has become part of the war and is ready to kill. One of the most obvious ways that she has changed is that now she can kill people easily and is unaffected by it. The fact that such an innocent woman can be changed so drastically by war shows the negative affects of being unaffected by death. It has become part of life for these soldiers, while most people would see death as a scary thing. Additionally, we see another soldier forced to conform to the guidelines of war in the witnessing of Kiowa’s death: â€Å"The young soldier was trying hard not to cry† (170). This shows that, when first exposed to war, the soldiers are actually upset when they see another person die. This is a normal reaction that most people would have; yet, the others soldiers look down upon this person. When the young soldier is about to cry, they know that he is new to the experiences, and they just ignore him. The experienced soldiers do this because they know that every soldier just has to ignore death. It is just an unavoidable part of war. In war, death is dehumanized, and every soldier is forced to ignore it; yet, it still has lasting negative affects on the soldiers. O’Brien reveals that he deals with the situation through the retelling of war stories. By revealing these stories, it allows O’Brien, as well as the listener, to understand how exactly war works: â€Å"By telling stories, you objectify your own experience†¦You start sometimes with an incident that truly happened, like the night in the shit field, and you carry it forward by inventing incidents that did not in fact occur but that nonetheless help to clarify and explain† (160). This shows that all the bad experiences, including the thousands of deaths observed, are clarified through telling stories. Even if the stories are not totally accurate, bringing any part of the situation to light gives O’Brien the closure he needs. It allows him to understand what went on in the war and be able to heal from it. Even though the soldiers are forced not react to death as a civilized human would, it still affects them internally, and the best way for O’Brien to deal with the negativity of death is through talking about it. Death is something that every soldier has to deal with on a regular basis. Thousands of people are killed every day at war, and so, the soldiers are forced to ignore the emotions associated with death. They do not have the time to be upset in the midst of protecting our country. As a result, all of the witnessed death affect them internally and stay with them for many years after the war is over. In order to deal with the negative affects, it is seen that O’Brien uses war stories as a way of healing. It allows him to understand what he experienced and move past it. How to cite Thing They Carried Essay, Essays

Olympic Debate Speech Essay Example For Students

Olympic Debate Speech Essay Ladies and Gentlemen, adjudicator, chairman and fellow debaters. Firstly I would like to rebut the flaws in the oppositions arguments. Baron de Coubertin, founder of the modern Olympics said, These five circles represent the five parts of the world, bound by the Olympic idea. It is an honour to be part of the Olympics, a fantastic achievement to any country and individual. So would the world population be capable of giving up something so great that means so much to all of us. Our team has proven throughout this debate that it would be ludicrous to destroy an idea that has lasted throughout the ages to benefit us. Our first speaker Renee defined the topic and covered issues such as:*Olympic history*Para-lympics*BenefitsOur second speaker Josh has proven our case and argued equally important issues such as:*Tourism*Achievements*Peace between countries*Economic growthThe Olympic Games allows the best athletes in the world to match skill and endurance in a series of contests. Almost every nation sends teams of selected athletes to take part. The purposes of the Olympic Games are to foster the ideal of a sound mind in a sound body and to promote friendship among nations. If this is truly being achieved, why should the games be discontinued? How would athletes prove they are the very best? What better forum is there for the many people with disabilities? How else would we unite all nations to be at peace? What about the loss of economic growth should the games cease to exist? This is reason enough to continue the games for centuries to come. Our first speaker Renee educated you on Olympic history, to prove to you how valuable the games are. Olympic achievements are some of the most valuable memories in the history of the human race; we hold them in such high regard. This is one of many reasons to continue the games to leave more historic events for future generations. Josh our second speaker spoke about peace between nations. Our team sees this as an incredible achievement to be able to unite countries and for a second forget political issues and compete under the Olympic flag. At the Sydney Olympics no less than 197 countries competed. So I ask the affirmative how they would explain to those 197 united countries that they could no longer compete for a greater good. The answer is this is impossible to do. There is no way that we can ever forget the Olympic games, they are a part of all of us.

Why Do People Follow Cults Essay Example For Students

Why Do People Follow Cults Essay Cults Each year, hundreds of North Americans join one of the increasing, estimated 3000 unorthodox religions that exist across North America. The increasing number of cults, to date in North America, is due to the fact that cults are a social movement that attempts to help people cope with their perceived problems with social interaction. Cult recruiters target those who perceive themselves as different from the rest of society, and give these individuals the sense of belonging that they crave. Cult literature lures potential cult members by appealing to their desperate need to socially fit in. Cults provide a controlled family environment that appeals to potential cult members because it is a removal from the exterior society. Cult recruiters prey on those who see themselves as alienated from the rest of society, and give these people the sense of conformity that they desire. A common method of recruiters, to obtain new members, is through chat lines on the internet. We will write a custom essay on Why Do People Follow Cults specifically for you for only $16.38 $13.9/page Order now A recorded conversation between a member of the Divine Light Mission, Fire-Shade, and an 18-year old boy, Jay 18, was obtained off of the site, IRC Teen Chat. Jay18: I am a really great poet, but all of the kids in my class are pretty warped about it. I basically hide it from them because I dont need that hassle. Fire-Shade: My family has a great respect for the artist inside us all. I know you live in Michigan, and our family could always use new operatives all over the world. You have to understand what our family is about, it is about always fitting in and never hiding the truth to be liked or cool. Are you interested? Jay18: Well maybe Fire-Shade: Give me your phone number we really shouldnt talk about this here. Jay18: I would rather not give my phone number out. You give me yours, I wont be able to talk for long though. Fire-Shade: Trust is very important in our group. Do you trust me? You cant call us, unfortunately because we are not in a position to be accepting phone calls. Jay18: Well then you can just e-mail me. OK. Fire-Shade: disconnects1 The cult member makes the young boy feel as though he does care about his problems, and wants to make this boys life better. Fire-Shade conveys his family as an entity not as many different individuals. After feeling alone for many years the only persuasion some individuals need is the assurance that they will be part of a society and accepted unconditionally. Cult members know what type of individuals feel most alienated and alone, says Dr. Lorna Goldberg, a New Jersey psychoanalyst. No one plans to join a cult unless they see that cult as a possibility for a family, or a better society. Cults target people in transition college students away from home for the first time, people who have moved to new cities for jobs, those who have just been divorced or widowed. Usually individuals 16 to 25 or 35 to 40. The vast majority of members are merely looking for a sense of community and belonging, during a difficult time in their lives.2 Cults provide an ersatz social unit, which takes them in, nurtures them and reinforces the cults worldview. By the time that most cult members realize that this cult isnt what they had expected, it is too late, because they are already too afraid to leave. Recruiters are not the only way that potential members are enticed into cults, often their literature is powerful enough. Cult novels, pamphlets and websites draw in potential cult members by appealing to their desperate need to socially fit in. Often if a piece of cult literature is written correctly it convinces the most logical mind of the most absurd reasoning, like this pamphlet by the Heavens Gate cult. The generally accepted norms of todays societies world over are designed, established, and maintained by the individuals who were at one time students of the Kingdom of Heaven- angels in the making- who flunked out of the classroom. .u15266913903feb060bb56795413bedf1 , .u15266913903feb060bb56795413bedf1 .postImageUrl , .u15266913903feb060bb56795413bedf1 .centered-text-area { min-height: 80px; position: relative; } .u15266913903feb060bb56795413bedf1 , .u15266913903feb060bb56795413bedf1:hover , .u15266913903feb060bb56795413bedf1:visited , .u15266913903feb060bb56795413bedf1:active { border:0!important; } .u15266913903feb060bb56795413bedf1 .clearfix:after { content: ""; display: table; clear: both; } .u15266913903feb060bb56795413bedf1 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u15266913903feb060bb56795413bedf1:active , .u15266913903feb060bb56795413bedf1:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u15266913903feb060bb56795413bedf1 .centered-text-area { width: 100%; position: relative ; } .u15266913903feb060bb56795413bedf1 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u15266913903feb060bb56795413bedf1 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u15266913903feb060bb56795413bedf1 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u15266913903feb060bb56795413bedf1:hover .ctaButton { background-color: #34495E!important; } .u15266913903feb060bb56795413bedf1 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u15266913903feb060bb56795413bedf1 .u15266913903feb060bb56795413bedf1-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u15266913903feb060bb56795413bedf1:after { content: ""; display: block; clear: both; } READ: Juvenile delinquency Essay Legends and scriptures refer to them as fallen angels. The current civilizations records use the name Satan or Lucifer to describe a single fallen angel

Is there price discrimination in the US Airline Industry essay

Is there price discrimination in the US Airline Industry essay Is there price discrimination in the US Airline Industry? essay Is there price discrimination in the US Airline Industry? essayPrice discrimination is a common practice used in the process of selling products and services; this is a strategy of pricing based on assigning different prices to customers basing on customer characteristics or group attributes. Price discrimination strategies relate to the customers willingness to pay. The purpose of this paper is to explore the existence of price discrimination in the U.S. airline industry, to consider the general market conditions that make price discrimination possible, to consider methods of price discrimination used by carriers in the U.S.,, to explore the causes of price dispersion and to assess the relationship between market structure and price discrimination.According to McAfee (2008), price discrimination takes place when three conditions are satisfied: consumer demand for a particular service or good is different, when the firm has market power in the sense that it can charge the price highe r than marginal costs are and when it is possible to avoid or prevent consumer arbitrage. Indeed, if consumer demand is uniform, consumer willingness to purchase goods will be equal so the reason for price discrimination will disappear. Furthermore, if the firm has no market power, it will be unable to charge higher prices and there will be no reasons for price discrimination as well. If customers are able to identify price differences and initiate arbitrage, those customers purchasing goods at lower prices will be able to resell to other customers and therefore there will likely be a single market price for the firm and a single (higher) market price for the end customers (McAfee, 2008).In reality, there exist various factors preventing arbitrage contracts, personalized services, high costs of transportation, legal regulations prohibiting resale, specific customer segment, limited availability of customers and lack of information (McAfee, 2008). In the case of airline industry, th ere are notable differences in customer demand (for example, business people are willing to pay more for urgent flights while retired individuals tend to choose cheaper flights), carriers have market power to charge above marginal costs and customers do not have possibilities for arbitrage because it is difficult to resell flight services (although there exist companies and agents reselling airline tickets). In general, the U.S. airline industry has the characteristics suitable for price discrimination and it is reasonable to expect that price discrimination is present in the airline industry.Steen and Sorgard (2002) explore the methods of price discrimination used in the U.S. airline industry. According to their research, it is possible to identify three key types of price discrimination used by carriers: versioning, frequent flyer programs and discounts to large consumers (Steen Sorgard, 2002). Versioning is the strategy of offering different air tickets with various options. For example, ticket versions with opportunities of rescheduling or canceling the flight are more expensive, while ticket versions with limits and restrictions are cheaper.Another form of price discrimination in the U.S. airline industry is achieved through discounts to large consumers. Large companies have contracts with carriers and the employees of these companies can get a discount on their tickets. One more option is the use of frequent flyers programs (loyalty programs) by airline companies (Steen Sorgard, 2002): members of such programs can accumulate bonus points for each flight and receive discounts or free flights using their bonuses. In addition, airline carriers might use price discrimination related to the time of purchase tickets purchased beforehand might be quite economic, while the tickets purchased several days before the flight are more expensive. In this case, customer willingness to pay is estimated by the effort that the customer puts into the purchase of tickets .Price variation might occur due to different reasons, the main of which are the sellers willingness to receive additional profit (price discrimination) and variance in costs. According to Borenstein and Rose (1994), there exists certain self-selective discrimination in airline industry because of product heterogeneity and the dependence of costs on flight parameters (day of week, time, number of stops, etc.). Two major sources of genuine cost variations are systematic peak-load pricing emerging from the uncertainties of demand for airline tickets and stochastic load pricing based on the existing demand (Borenstein Rose, 1994).Signs of price discrimination are the differences in responsiveness to competition for different types of fares offered by the same carrier; if price dispersion increases with concentration, it is a sign of monopoly-type price discrimination and if price dispersion decreases with concentration, it is a sign of competitive-type price discrimination (Borenstein Rose, 1994). Other factors stimulating price discrimination are variance of customer attributes, market density and market positions of carriers (size, market share, density of flights, etc.). Attributes of products affecting elasticity of demand also influence price discrimination.The findings of Borenstein and Rose (1994) linking the type of price discrimination to market structure are further confirmed by the findings of Stavins (2001). The analysis of price discrimination options and restrictions used for price discrimination such as discounts for advanced purchase and Saturday night stay-over requirements shows that lower airfares are associated with greater restrictions, but directions with higher market concentration for particular carriers are associated with lower discounts (Stavins, 2001). Therefore, there is notable price discrimination in the U.S. airline industry with three key price discrimination types versioning, discounts for large customers and loyalty programs, and the use of price discrimination is more intensive when market competitiveness increases.

Colonial Rule and African Resistance in Kenya Essay

Colonial Rule and African Resistance in Kenya - Essay Example This is evident in the utterances of Ngotho as he despaired, "Later, our fathers were taken captives in the first Big War to help in a war whose cause they never knew. And when they came back Their land was taken away for a settlement of the white soldiers." This is true as the Black population was involved in the First World War, a conflict waged by European powers for geopolitical and economic dominance. It was not their war, but they became unwilling pawns in the struggle, only to become captives. Upon their release and return, they found their lands sequestered by the White government, allocating their ancestral land which they have possessed for countless generations, as garrisons for soldiers, settlements for foreign immigrants and plantations for white settlers. With Britain's rule came changes from without as the government imposes its values, laws, culture, and language upon the indigenous people. They were forced to learn English, this being claimed to be good in contrast to their native tongue which is presented by their rulers as being bad. This form of negative reinforcement and encroachment upon native culture and traditions also increased the resentment held by Africans against their colonial masters. The policies of British rule threatens the very foundation of Kenyan existence, as their language, culture, traditions, and laws are being forcefully replaced by foreign ones. The political conflict is also given emphasis by the novel as the power of Kenya's White rulers grew and the bitterness of the African population correspondingly increased. Aside from the resentment felt by Africans against their white masters, there is also conflict between the former and the Indian merchants whom they look down upon with contempt. Considered as opportunists who thrive at the expense of the African, the Indians are also abhorred by the Black population. "He came to the Indian shops. Years ago, he had worked here. That was long before the Second War. He had worked for an Indian who had always owed him a month's pay. This was deliberate. It was meant to be a compelling device to keep Ngotho in the Indian's employment permanently." (Ngugi, Chapter 3).There was also class struggle among Blacks, as those who were able to attain wealth also yearned for more political power and at the same time exploited the lower classes. The Mau Mau revolt was primarily anti-colonial, but it also bore a semblance of civil war because it also went against the Black associates of the white planters. The novel also explicitly pictures the desire of both Blacks, Whites and Indians for power and their resolve to hold on to it once they have gained it. Power and wealth were the common objectives of all those engaged in the conflict. However, the attainment of wealth and riches is paid with a heavy price, by those who remain in poverty and are continually exploited by those who have the means, influence and resolution to subjugate them. They have become enslaved in their own native land, subject to the oppression and tyranny of foreigners, may they be White or Indian. They have been reduced by powerful forces from without, which were beyond their control and sometimes, even comprehension. However, the oppression is continually imposed by the British government through physical subjugation. Armed conflict eventually resulted, led by the Mau Mau movement. It is within this whirlwind of strife and violence that Njoroge and his family find themselves, having to