Warehouse Management Frameworks

Introduction System support for the company and management of inventory has turn out to be vital for judicious, efficient dispensation of logistic requisites within an organization. The SAP Warehouse Management (WM) system offers non-rigid, computerized support for assisting organization to process all inventory transfers and to maintain present goods in the organization warehousing intricate (Magal Word 2012).Advertising We will write a custom essay sample on Warehouse Management Frameworks specifically for you for only $16.05 $11/page Learn More SAP refers to a combined application package for enterprise systems. SAP involves various applications for ease of integration. Each application involves an individual element of enterprise (Barlett Ghosai 2007). SAP refers to an authentic application. A company at all times look at up to date information and not past information. SAP R/3 in addition works as an enabler for several other enhancement programs, ultimately resulting in enterprise gains like improved turnover and reduced operating expenses (Ballou Pazer 2005). This Warehouse Management Report will define Warehouse Management, identify the benefits that the system provides, and offers information regarding SAP’s Warehouse Management solution. In addition, it provides two case organizations that have applied WM solution and identifies all concerns related to such implementation. Warehouse Management Even though it is likely for organization to control warehouse goods utilizing the Goods Management (GM) utility system, the key variation between controlling inventory in Warehouse Management and in Goods Management is that in Goods Management, the application can only demonstrate the general list of materials for a warehouse site. If a storage site is not big and simply controllable, then the application of Goods Management may be adequate for fulfilling company needs (Zhu Meredith 2003). Warehouse Management, alternati vely, provides the ability to control inventory numbers in all warehouses in greatly intricate warehousing sites. This implies that, with Warehouse Management, an organization can maximize the application of each individual warehouse facility, combine goods belonging to a number of owners in arbitrarily slotted storage bins and identify precisely where a specific item is placed in the storage facility always (Wang Pazer 2008). Benefits of WM The SAP Warehouse Management (WM) application offers the flexible, efficient, computerized facility that facilitates the organization in: Managing greatly intricate storage designs and a number of diverse kinds of storage bins comprising computerized bins, custom-made warehouse sites, high shelf warehouse, block warehouse, permanent warehouse facilities and all other regularly utilized warehouse locations (Pazer 2004). Defining and adapting different warehouse locations for utilization in the company’s exact storing facility. Processing any necessary warehousing activity and transfer roles, like stock receipts, stock concerns, intrinsic and extrinsic inventory movements, computerized replacement of permanent storage sites, inventory staging to processing sites and goods variation managing. Utilizing arbitrary allocating for several owners of goods. Displaying regular analysis of all stock transfers in the storage bin. Implementing several readily available packing and picking techniques comprising self-structured approaches. Supporting the storage and removal of harmful items and any other item that requires specialized treatment. Maintaining updated stock documents at the warehouse level utilizing authentic constant stock strategies (Monk Wagner 2007). Supporting the application of computerized barcode sensors and RF system for all inventory transfers. Completely integrating the organization’s Warehouse Management application for real-time interface with other SAP applications to involve Goods Management (GM), Stock Management (SM), Process Management (PM), Quality Planning (QP) and Promotion and Marketing (PM). Details: WM solution The WM component is totally incorporated into the SAP R/3 system. A transaction that is implemented in other SAP applications cause matching activities in Warehouse Management which trigger the real natural movements within the storage facility (figure 1). Some of such tasks comprise:Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Inventory transfers and a change in item status, like moving materials from quality control. Stock staging to manufacturing storage bins. Sorting and transporting materials for sales orders. Figure 1: Warehouse Management Cycle Source: Magal Word 2012, p. 45 Most tasks that occur within Warehouse Management are activated in Stock Control. For instance, most items inflow, stock concerns and recording variation are activated in GM and consequently developed in Warehouse Management (Kock 2001). Warehouse Management is in addition integrated to Promotion and Marketing (PM) via the Transporting component with a view of processing delivery details not only for the interfaced Warehouse Management system but also for the distributed Warehouse Management application (Klaus Gable 2000). The Warehouse Management integration to QP facilitates storage bin managers in tracking and managing inspection batches that are housed in the storage complex. Warehouse Management is in addition integrated to the Process Management (PM) application for assisting to provide inventories to supply sites in production (Huang Palzia 2001). Flexibility in WM SAP Warehouse Management supports the application of computerized warehouse sensors and RF system for all inventory transfers. RFID interfaced WM aids in scheduling the tasks in the storage bin effectively and cost-efficiently, and in controlling the warehouse employees’ task phases accurately and purely through portable RF devices (Hanseth Braa 2001). Numerous of the intrinsic and extrinsic warehousing tasks in SAP are facilitated by the radio frequency link.Advertising We will write a custom essay sample on Warehouse Management Frameworks specifically for you for only $16.05 $11/page Learn More WM mostly focuses on describing and controlling complex storage facility designs within an organization. The following aspects have to be taken into account when integrating the SAP R/3 Warehouse Management application: Path maximization as far as inventory allocation, stock release and inventory movement are concerned. Uniform use of storage bin capacity. Optimization of warehousing employees. Likelihood for upgrading in storage bin stocking. Dealing with modes of transportation for inventory allocation and inventory release. Opportunity for upgrading of assignment schedules. Warehouse Management application is one of the effici ent instruments relevant for managing storage facilities and for keeping stock at maximum position. But the WM is an instrument and a company require a knowledgeable person who can understand the company needs and fulfil them utilizing the instrument (Clemmons Simon 2001). Possibilities of the instrument have to be exploited completely for the best outcomes. Hardware suppliers Ecom Devices is an international working producer of portable instruments for industrial application. Particularly in the sector of ICT, Flashlights, M-computing and Measuring and Calibration, the company is the leading manufacturer of non-hazardous device. Such instruments are internally secure and have the basic documentations for operating in hazardous environments (Carton Adam 2003). There is an integrated RFID system and WM application has the system developed for such instruments. Pruftechnik is a support technology organization, established laser beam configuration and provides hardware and provisions in non-hazardous, configuration and condition checking. With branches and distribution centres in over 75 nations Pruftechnik supplies the production companies worldwide. SAP’s Warehouse Management has developed the integration with one of the best devices for condition checking Vibtool (Benbasat Mead 2002). The tool ensures that there is no physical recording for aspects like Temperature, Velocity and Vibration. Implications of WM The nature of the contemporary storage bin is one of continuous change. There is at all times a thought of remove the goods now and focus on the damage afterwards. Unluckily fixing the damage afterwards never occurs and the storage facility starts to operate incredibly poorly as warehouse blocking begins to occur as the search string does not select quantities based on the shelving for delivery (Belardo Klein 2006). Implementing a SAP could perhaps resolve a few of the warehousing challenges, since, for instance, the WM application is a combined monetary suite that offers companies with important data in an authentic way. Combined ERP frameworks need less duration in gathering significant data.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The data simply requires to be inserted into the model once and then the information is available all through the framework in a constant way. Whereas utilizing different bequest sub-applications, it takes a substantial period in finding the relevant data. Since ERP has a combined interface, the system of data is constant all through the company (Barlett Ghosai 2007). There are certain critical concerns that require to be taken into account when an organization is making the move to implement an ERP. The new framework’s merits and gains can simply be handled. However, specific staffs frequently stress the weak points of an integrated ERP. The system is extremely costly, it needs an enormous number of qualified staffs with technical knowledge, and it consumes time in developing and implementing. The next part provides examples of two companies that have implemented SAP’s WM. Felix Schoeller Felix is known to its clients as an extensive brand producer and leading distri butor of high-quality speciality papers. So as to meet the increasing setbacks of the marketplace, the company needed specialized IT solutions that were customized to the unique situations not only in the sector but also of the international organization. In 1995, the company selected SAP as its enterprise solution for the lasting and efficient support SAP provided for its supply chain. The organization made a decision to systematically implement SAP in all business sections. The different warehouse management frameworks have so far been unchanged by the synchronization aspects of the global IT setting. As component of the program, the interaction between the different sub-frameworks utilized was to be redesigned, and components of inventory planning were to be matched with SAP warehouse management. Tempo Beverages Tempo Beverages is known by many as a leading beverage producer and leading distributor of high-quality beverages. In order to meet the increasing competition needs of th e global market, it needed dedicated information technology options that were customized to the exceptional condition both in the sector and of the global market. In 2001, Tempo Beverages chose SAP as its business alternative for the long-lasting and competent support SAP WM provided for its operation. The organization chose to progressively implement SAP in all business departments. The different warehouse management frameworks have so far been unchanged by the synchronization aspects of the global IT setting. As component of the program, the interaction between the many sub-systems applied was to be restructured, and parts of inventory planning were to be in line with SAP WM requirements. Conclusion SAP frameworks have turn out to be a critical system for numerous of the globe’s leading organizations. The frameworks offer an advanced degree of incorporation for supporting key enterprise procedures. The availability of authentic information suites enhanced decision-making. H owever, the integration and utilization of SAP’s WM framework encounter several concerns because of its intricacy. The utilization of SAP WM in managing activities in the storeroom, together with radio frequency method, advances the degree of computerization. Computerized storeroom operations bring about a more efficient utilization of resources in addition to improved procedure security. In addition, goods are presently accessible in the model in an open way as inventory planning is currently incorporated into SAP Warehouse Management, which eases both stock management and material handling. So as to benefit from SAP WM, one of the conditions for this software was to structure the application in such a manner that SAP Warehouse Management could as well be executed on other locations. References Ballou, D Pazer, H 2005, ‘The impact of inspector fallibility one the inspection policy serial production system’, Management Science, vol. 28 no. 4, pp. 387-99. Barlett , C Ghosai, S 2007, Managing across borders: The transnational solution, Harvard Business School Press, Boston. Belardo, S Klein, B 2006, ‘Implication of data quality for spreadsheet analysis’, Data Base, vol. 18 no. 3, pp. 13-19. Benbasat, I Mead, M 2002, ‘The case study research strategy in studies of information systems’, MIS Quarterly, vol. 11 no. 2, pp. 369-86. Carton, F Adam, F 2003, ‘Analyzing the impact of enterprise resource planning systems rollouts in multi-national companies’, Electronic Journal of Information Systems Evaluation, vol. 6 no. 2, pp. 203-2007. Clemmons, S Simon, S 2001, ‘Control and coordination in global ERP configuration’, Business Process Management Journal, vol. 7 no. 3, pp. 24-35. Hanseth, O Braa, K 2001, ‘The control devolution: ERP and the side effects of globalization’, ACM Press, vol. 32 no. 4, pp. 23-29. Huang, Z Palzia, P 2001, ‘ERP implementation issues in advanced and developing countries’, Business Process Management Journal, vol. 7 no. 3, pp. 37-56. Klaus, H Gable, G 2000, ‘What is ERP’, Information systems frontiers, vol. 2 no. 2, pp. 141-162. Kock, C 2001, ‘Enterprise resource planning: Information technology as a steamroller for management politics’, Journal of Organizational Change Management, vol. 14 no. 1, pp. 145-164. Magal, S Word, J 2012, Integrated business processes with ERP systems, Wiley, Cambridge, MA. Monk, E Wagner, D 2007, Concepts in enterprise resource planning, 3rd edn, Thompson, Buckingham, UK. Pazer, H 2004, ‘Modelling data and process quality in multi-input, multi-output information systems’, Management Science, vol. 31 no. 2, pp. 150-62. Wang, R Pazer, H 2008, Modelling data manufacturing systems to determine data product quality, MIT Sloan School of Management, Cambridge, MA. Zhu, Z Meredith, P 2003, ‘Defining critical elements in JIT implementation: A surveyâ₠¬â„¢, Industrial Management Data Systems, vol. 95 no. 8, pp. 21-9. This essay on Warehouse Management Frameworks was written and submitted by user Jaelynn W. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Boiling Point Elevation Example Problem

Boiling Point Elevation Example Problem This example problem demonstrates how to calculate boiling point elevation caused by adding salt to water. When salt is added to water, the sodium chloride separates into sodium ions and chloride ions. The premise of boiling point elevation is that the added particles raise the temperature needed to bring water to its boiling point. The extra particles interfere with the interactions between solvent molecules (water, in this case). Boiling Point Elevation Problem 31.65 g of sodium chloride is added to 220.0 mL of water at 34  °C. How will this affect the boiling point of the water?Assume the sodium chloride completely dissociates in the water.Given: density of water at 35  °C 0.994 g/mLKb water 0.51  °C kg/molSolution:To find the temperature change elevation of a solvent by a solute, use the equation:ΔT iKbmwhereΔT Change in temperature in  °Ci van t Hoff factorKb molal boiling point elevation constant in  °C kg/molm molality of the solute in mol solute/kg solvent.Step 1 Calculate the molality of the NaClmolality (m) of NaCl moles of NaCl/kg waterFrom the periodic tableatomic mass Na 22.99atomic mass Cl 35.45moles of NaCl 31.65 g x 1 mol/(22.99 35.45)moles of NaCl 31.65 g x 1 mol/58.44 gmoles of NaCl 0.542 molkg water density x volumekg water 0.994 g/mL x 220 mL x 1 kg/1000 gkg water 0.219 kgmNaCl moles of NaCl/kg watermNaCl 0.542 mol/0.219 kgmNaCl 2.477 mol/kgStep 2 Determine the van t Hoff factorThe van t Hoff factor, i, is a constant associated with the amount of dissociation of the solute in the solvent. For substances which do not dissociate in water, such as sugar, i 1. For solutes that completely dissociate into two ions, i 2. For this example NaCl completely dissociates into the two ions, Na and Cl-. Therefore, i 2 for this example.Step 3 Find ΔTΔT iKbmΔT 2 x 0.51  °C kg/mol x 2.477 mol/kgΔT 2.53  °CAnswer:Adding 31.65 g of NaCl to 220.0 mL of water will raise the boiling point 2.53  °C. Boiling point elevation is a colligative property of matter. That is, it depends on the number of particles in a solution and not their chemical identity. Another important colligative property is freezing point depression.

Fall of the Ottoman Empire and Modern Events

Fall of the Ottoman Empire and Modern Events The Ottoman Empire was one of the world’s most enduring empires, surviving for 623 years under 39 sultans beginning with the empire’s namesake, Osman I, and formally ending with the foundation of the modern republic of Turkey on October 29, 1923. Even though the end of the Ottoman Empire can be identified with a specific date, like the Romans and Byzantines before them the Ottomans suffered a long period of stagnation and decline, and one common theme that connects most of the factors that contributed to the demise of the empire is the economy. Interference from foreign powers, ethnic and sectarian unrest among the empire’s diverse population, and political infighting among the Ottoman ruling class all played a role in bringing the empire to an end, and all were caused, in one way or another, by economic circumstances. Looking at these factors today, many parallels with events in our own time become apparent, which, depending on one’s point of view, can be either a hopeful sign for our own future or a warning about the folly of letting history repeat itself. A Bad Business Model The Ottoman Empire suffered from a historically inevitable problem that affects every empire: as it expanded, reaching its greatest extent in the mid-17th century, its political administration became increasingly decentralized. It was only natural for the Ottomans, as a hereditary monarchy, to treat leadership positions in the provinces and small political units as a form of patronage for key supporters of the throne, but they also recognized the danger of letting local power grow too much. Thus it was typical for leaders to be appointed to positions far from their homes: Muhammad Ali, for example, the founder of modern Egypt, was an Albanian military commander. In theory, the outsiders placed as local leaders should have owed their allegiance to Istanbul rather than the local elite being made subjects of the empire; in practice, however, local rulers were given so much authority – such as responsibility for tax collection, local defense, and infrastructure development – that they had little reason to be loyal to anyone but themselves: Muhammad Ali is perhaps the best example of this; appointed Viceroy of Egypt by the Sultan after coming out on top of a fierce and confusing struggle among tribal leaders and Ottoman officers in the province, Ali found himself strong enough to challenge the Ottomans directly while nominally remaining loyal to the empire. His power grew to the extent that the British, French, and Russian governments agreed to impose a declaration of Ali’s hereditary rule in Egypt on the Ottoman government in 1841. The Ottoman Empire essentially became a loose confederation of relatively strong little kingdoms; loyal to Istanbul when it suited their purposes, but otherwise practically independent. Read more about history essays: 50 Ideas for History Essay Topics US History Essay History Essay Writing Further eroding the ability of the Sultanate to effectively manage the empire was the basic economic model, the waqf, underlying its public administration. Waqf is an Islamic principle whereby property is made â€Å"inalienable† by a grant of its owner, with whatever profits arising from the property afterward being devoted to charity in accordance with Islamic tradition. In the Ottoman Empire, the waqf was used for most public works – roads, ports, hospitals, and other public facilities – rather than these things being developed directly through tax revenues; the justification for this was that the Sultanate, as the nominal leadership of the Muslim faith (or at least most of it) was a worthy recipient of the waqf as it ensured the â€Å"profit† was used for the greater good of the Ottoman people. The problems with this model is that first of all, it left the administration of public works in private hands, and second, it was wholly insufficient for the empire to keep up with its European rivals in terms of economic development. Moreover, it further eroded the opportunities for the Sultanate to collect taxes since many waqf grants were made as payments in kind. An Empire Drowning in Debt Lacking a sufficient resource base, the Sultanate was increasingly forced to turn to foreign borrowing to fund its administrative functions and military expenditures. Unrest throughout the Ottoman Empire and a seemingly-endless string of military adventures involving the other European powers sapped what financial resources the Sultanate had left; between the end of the Crimean War in 1854 and the accession of Abdulhamid II in 1876, debt service grew to account for roughly half of the empire’s yearly income. The Vienna stock market crash of 1873 and the ensuing â€Å"Long Depression† was the proverbial straw that broke the camel’s back – the new Sultan was forced to declare bankruptcy, which in turn helped to provoke another brief, disastrous war with Russia, the end of which in 1878 further eroded Ottoman financial strength by removing about 20% of its population and 40% of its remaining territory. In 1881, frustrated European powers established a Public Debt Commission in Istanbul to oversee the repayment of the Ottoman’s foreign debt. The taxes levied by the Commission created dire economic hardship in the empire, driving up prices on all manner of goods and services, and further reducing the Sultanate’s revenue base – for example, the entire yearly tribute or treaty payments of Bulgaria, Greece, Cyprus, and Montenegro were collected by the Commission instead of the Ottoman government. Modern Parallels By 1908, a growing rebellion within the Ottoman military forced Abdulhamid II from the throne, and within the next few years the outbreak of World War I put the final few nails in the Ottoman Empire’s coffin. What is most interesting about the decline of the empire in the years leading up to the revolution of 1908 and the disastrous outcome of the First World War is how many of the critical problems suffered by the Ottoman Empire seem to be repeating themselves. Countries such as Greece and Spain find themselves mired in foreign debt, and at the mercy of European powers’ direction of their sovereign economies. All around the world, in developing nations as well as highly-developed countries like the US, increasing privatization of public institutions has not only led to an erosion of public services but paradoxically, less efficient collection and spending of public revenues. And while the entire world struggles with economic threats to sovereign stability, small – but expensive – military conflicts persist in draining countries’ resources. The hopeful outlook would be that by studying the decline and collapse of the Ottoman Empire, we could learn how to avoid the same pitfalls; history suggests that humanity on the whole, however, may not be all that good at learning from its own mistakes.

The impact of changes in political leadership on the foreign policies Essay

The impact of changes in political leadership on the foreign policies of the People's Republic of China - Essay Example This study will begin with the statement that China is one of the most rapidly developing countries in the world. Many people believe that China may become a superpower in near future itself and the supremacy of America in global political and economic matters will be ended shortly. Even though communism is prevailing in China for the last few decades, it doesn’t mean that China’s internal and external policies undergone no changes. Some of the communist leaders in the past were adamant in implementing communist policies whereas modern political leaderships seems to be adopting more liberal approaches in implementing communist policies in China. Deng Xiao Ping is considered as the father of modern China. Even though Mao was one of the most charismatic leaders of China, his economic and political policies were strictly in line with communist principles. He never tried to dilute communist principles even for the betterment of China. However, the leadership followed by Mao was not so, especially Deng Xiao Ping. Deng succeeded in putting strong bases to China’s economic growth without sacrificing many of the communist principles. The leaders succeeded by Deng were also followed the same path of Deng and currently China is one of the most prosperous countries in the world. Interpreting China’s foreign policy is an important key to understand the tides of global affairs in 1990’s, not only because China, with the world’s largest population wields demographic and economic clouts, but also it arguably the most dynamic country in the second half of twentieth century. (Zhao, 1996, p.4). As a key player in global economic and political spectrum at present, China’s foreign policies are studied with curiosity by political analysts. This paper analyses the impact of changes in political leadership on the foreign policies of the People's Republic of China. Political leadership and China’s foreign policies Sun Yat Sen era Sun Yat Sen is often referred as the father of China. He assumed power immediately after the destruction of Qing dynasty, but forced to resign in 1912 because of his differences with the Nationalist party and the government. But he was successful assuming power again in 1923. He was a visionary leader who worked hard for China’s economic progress. â€Å"Sun summarized his policies in the Three Principles of the People--nationalism, democracy, and socialism† (Chinese Cultural Studies). He was a great admirer of Soviet Union and was keen in keeping stronger ties with Soviet Union. He tried hard to implant a Soviet model of economic growth in China. He was a liberal leader and was not much adamant in implementing communist principles. In fact he had respect towards democracy. After the death of Sun Yat Sen in 1925, Chiang Kai Shek assumed power and continued the good work of Sun Yat Sen. Chiang Kai Shek Era Chiang Kai Shek was the leader of China till the Chinese Cultura l Revolution in 1949.he was successful in keeping China away from the two World Wars. He was keen in keeping good relations with Western countries such as America and Britain. He was a strong critic of communism and did everything possible to avoid the growth of communism in Chinese soil. However, October revolution in 1949, forced Chiang Kai Shek to accept defeat and hand over the power to communist leader Mao Zedong. Mao era Even though, Mao was responsible for the Cultural Revolution in China, his contributions to China’s economic progress were limited. He was a leader who strictly followed communist principles in all internal and external matters. â€Å"Mao followed an aggressive foreign policy towards China’s neighboring countries† (Hongyi, 2010, p.17). It should be noted that China attacked India during Mao era. At sunrise on October 20, 1962, China's People's Liberation Army invaded India with overwhelming force on two separate flanks - in the west in Lad akh, and in the east across the McMahon Line in the then North-East Frontier Agency. The

American Auto Manufacturers Losses Essay Example | Topics and Well Written Essays - 2500 words

American Auto Manufacturers Losses - Essay Example In 1979, the US Big three used to sell 9 out of 10 vehicles in US, but in 2004, foreign firms have overtaken the US auto sector and now local firms sell only 50 percent vehicles in US. By 2005, 60 percent of the US market belonged to Toyota, Honda and Hyundai (Gordon, 2006).The US auto industry is in terminal decline, if this trend continues, the day is not far away when 100 percent of US auto sector will be taken by the foreign firms. There are many unanswered questions about the declining US auto industry. Analysts are wondering, why US auto industry is constantly on downward spiral from decades, but in the recent times, the decline has been proved catastrophic. There were many bad omens in US auto industry for the past two decades, which often gave a warning that further decline is coming. For example from 1995 to 2005, GM replaced its 14 percent volume per year; its average showroom age was 0.8 year old compared to industry 5.8 percent. On the contrary the Japanese replaced 20 percent of volume per year, their average showroom was 1.5 year old, which enabled them to gain 7.2 percent of the market. As a result GM (General Motors) market share declined from 42 percent in 1985 to 26 percent in 2005. The graph below shows domestic production patterns ( Clair,1996). Ford is also on decline and recently it suffered huge losses, resulting in closing down many 14 plants and cutting down 30 thousand jobs. Ford is also expected to take one billion dollar from pre-tax charges in 2006 to do cost sweeping of its plants (Gordon, 2006).. It is also expected to take charges of $250 million in 2006 for its hourly staff and write off the value of plants and equipment clearly proves that Ford is going down the road. Even though Ford mentioned that it is looking forward to work on trucks in US, in present circumstances, it is mere wishful thinking. Similarly Delphi, which was US biggest auto Parts Company, went bankrupt in 2005,

pirate childrens story :: essays research papers

Some called him a pirate, some called him a scoundrel, and some said he was the devil himself! His name was Jack and he had been a sailor and an adventurer for a long, long time. His body carried the scars of a hundred sword fights, a map of the marvelous travels he had, a constant reminder of the things he had done. His schooner had sailed the seven seas and was beginning to show signs of old age, just like her master. Her sails were tattered, and she too had scars, from cannonballs and chain shots. Jack’s lone companion was a outspoken parrot named Polly, who was always perched on one of his shoulders. Now the three were setting off on one last voyage, one last chance for fame and fortune. They had sailed so many times before, only to find that their dreams of treasure and booty were only rumors. But this time would be different, this time they would find it. This time they had a map! Jack had seized the map from the ship he last raided. It wasn't much of a map, the parchment was old and yellowed and the compass directions were hard to make out. There were two tall mountains and some forests drawn on the paper, but most importantly, there was an X. The old man had seen maps like this before, and had never found anything near the marked spot. But this map had something about it that made him believe it was the real thing. And so with fair skies and following winds they sailed south, further south than they had ever been before. They sailed for seven days and seven nights, and on the morning of the eighth day, at the break of dawn, they saw land. It wasn't much, a small strip of land, but with two tall mountains and some trees, Jack knew it was the place. As the ship drew nearer, he began to see the island better, and he could see the beach. The sand was smooth, and white. It was one of the most beautiful sights he had ever seen in all of his years. Jack could see now that there were more than a few trees here. There was a thick tropical forest stretching from one mountain to the other. And the mountains were sending up small wisps of smoke. As the ship drew nearer, it hit him.

Consideration Essay

An Agreement here is defined as every promise and every set of promises, forming the consideration for each other, is an agreement defined under section 2(e) of Indian Contract Act, 1872. Making a contract is simply a way of facilitating amongst other things, the exchange of goods and services. Under a contract the, parties voluntarily assume their obligations or undertakings. Consideration is the recompense given by the party contracting to the other. 2. Consideration is the price for which the promise of the other is bought, and the promise thus given for value is enforceable. 3. Consideration means something which is of some value in the eyes of the law. 4. A valuable consideration in the sense of the law, may consist either in some right, interest, profit or benefit accruing to the one party or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other. If a bargain gives a party a choice of alternative obligations, each alternative on its own must constitute sufficient consideration for the return promise. If a promise is void or voidable – e. g. , due to the incapacity of the promisor – the sufficiency of the consideration is not necessarily negated. The judges, when they exercise this power of interference, are playing an extrinsic test which frustrates the expectation of the parties. It does not follow however, that such a test is necessarily harsh, still less that it is illogical. In some of the cases the law is settled, other are shrouded in controversies; but in all of them the grounds of interference seems to be the same. Consideration made not be adequate and may, on occasion be extremely tenuous, but it must comprise ome element which can be regarded as the price of the defendant promise; and merely to repeat an existing obligation may well seem to offer nothing at all. It may be appreciated that a person, who by his official status or through the operation of the law is under a public duty to act in a certain way, is not regarded as furnishing consideration merely by promising to discharge the duty. For example, no one would expect a policeman to bargain with a citizen for the price of his protection. In the case stated the defendant argued that this meant that they were not obliged to pay for the large number if policemen who attend their ground at home matches because, in present conditions of crowd behaviour, a major police presence at the ground was necessary to preserve law and order. The Court of Appeal thought that there was a fundamental difference on the facts. In the Glassbrook case the threat to law and order was external to the parties since neither could call off the strike. In the present case, the defendant had voluntarily to put on their matches at times, typically Saturday afternoons, when large attendance and therefore large possibilities of disorder where likely, and when a substantial police presence could only be achieved by calling policemen of their rest days and paying large sum of overtime. The police authority were, therefore, entitled to be paid. When the plaintiff is bound by an existing contractual duty to the defendant : There is no consideration if all that the plaintiff does is to perform, or to promise the performance of, an obligation already imposed upon him by previous contract between him and the defendant – is illustrated by a group of thesis in the first half of 19th century. In this case the defendant where a firm of building contractors who entered into a contract for the refurbishment of a block of 27 flats. They sub – contracted the carpentry work to the plaintiff for 20,000. Although there was no formal arrangement to this effect, the plaintiff was paid money on account. After the contract had been running for some months and the plaintiff had finished the carpentry at 9 of the flats and done some preliminary work in all the rest, for which he had received some 16,200 on account, he found that he was in financial difficulties. This difficulties arose partly because the plaintiff had underestimated the cost of doing the work in the first place and partly because of faulty supervision of his work men. The plaintiff and the defendants had a meeting at which the defendants agreed to pay the plaintiff a further 10,300 at a rate of 575 per flat to be paid as each flat was completed. The plaintiff carried on work and finished some 8 further flats but only 1one further payment of 1,500 was made. The plaintiff stopped work and brought an action for damages. The defendant argued that they were not liable as they had simply promised to pay the plaintiff extra for doing what he has in any case obliged to do, that is to finish to the contract. The Court of Appeal might perhaps have found consideration in what Russell LJ described as the replacement of ‘a haphazard method of payment by a more formalised scheme involving the payment of the specified sum on the completion of each flat’ since it was clear that the under the original contract there was no express agreement for stage payments. 3. Composition with creditors : It has long been a common practise for the creditors of an impecunious debtor to make an arrangement with him where by each agrees to accept a stated percentage of his debt in full satisfaction. The search for a sufficient consideration to support so reasonable an agreement has caused the courts much embarrassments. It would appear at first sight to fall under the ban in Pinnel’s case, and such was the view adopted in 1804 by Lord Ellenborough. Two alternatives suggestions have been proffered. The first was the second thought of Lord himself. There was consideration for the composition, he suggested in 1812, in the fact that each individual creditor agreed to forgo part of his debt on the hypothesis that all the other creditors would do the ame. A moment’s reflection will expose the weakness of this argument. Such a consideration would, no doubt, suffice to support the agreement as between the creditors themselves. But, if the debtor sought to rely upon it, he would be met by the immediate objection that he himself had furnished to return for the creditors’ promises to him, and, as already observed, it is a cardinal rule of the law that the consideration must move from the promisee. A second solution is to say that no creditor will be allowed to go behind the composition agreement, to the prejudice either of the other creditors or of the debtor himself, because this would be a fraud upon all the parties concerned. The solution was suggested by Lord Tenterden in 1818 and supported by Willes J in 1863, and it has since won general approbation. But it is frankly an argument ab inconvenienti and evades rather than meets the difficulty. Where the plaintiff is bound by an existing contractual duty to a third party : When the plaintiff performs, or promises to perform, an obligation already imposed upon him by a contract previously made, not between him and the defendant, but himself and the third party. The question whether such a promise or a performance affords suficient consideration has provoked a voluminous literature – more generous, indeed, then the practical implications would seem to warrant. In a case mentioned here the defendant agreed to pay money to he plaintiff in return for the plaintiff promise (a) to execute a separation deed and b)to pay his debts to a third party. The promise to execute the separation deed raised questions of public policy but was held good consideration.