Electronic Evolution in Negotiability of Negotiable Instruments Essay

Electronic Evolution in Negotiability of Negotiable Instruments - Essay Example Throughout the legislative process, attention was constantly given to the areas like, Governments, banks, trading and other interested circles. The Convention applies only to international bills of exchange and international promissory notes when they comply with certain requisites of form. The use of an instrument governed by the Convention is thus entirely optional. Ratification or accession by a State does not subject all international instruments issued in that State to the legal regime of the Convention but merely opens the door for bankers and merchants to opt for this new legal regime if they deem it preferable in their professional judgment.(1) The United Nations Commission on International Trade Law Model Law on Electronic Commerce 1996 (2)is a set of rules that provides a model for reform in this context. It is recommended that the Model Law should be adopted to increase certainty in relation to the enforceability of electronic bills of exchange. The Convention defines the terms "bill of exchange" and "promissory note" and states the conditions on which a bill of exchange or promissory note is considered to be int ernational. A bill of exchange is a written instrument which contains an unconditional order whereby the drawer directs the drawee to pay a definite sum of money to the payee or to his order, on demand or at a definite time. It should be dated and it should be signed by the drawer. A promissory note is a written instrument which contains an unconditional promise whereby the maker undertakes to pay a definite sum of money to the payee or to his order; on demand or at a definite time and it should be dated and it should be signed by the maker.(3) Modern commercial practice has been influenced to a considerable degree during the years by electronics and computers in numerous ways. With all scientific developments within the business environment the pace of adjustment corresponds to a challenge to the traditional legal notions regulating patterns of trade. The development of such electronics and computers influence the instruments of trade also. Before taking peer in to the impact of such electronic evolution in negotiability of Negotiable instruments, let's have deep look into the scope of Convention on international transaction with reference to Bills of exchange and Promissory notes. Scope of the Convention In its desire to win commercial acceptance and free circulation of its instruments in international commerce, the Convention firmly upholds the principle of negotiability. The Convention considers the jurisdictions as per a

Villa Building and Construction Essay Example | Topics and Well Written Essays - 8000 words

Villa Building and Construction - Essay Example The bungalow will be of plinth area of 6800 sq ft, accommodating 4 bedrooms, two in the ground floor of 21.5 ft x 23 ft and 19.5 ft x 20 ft dimensions and two in the first floor of 21 ft x 23 ft and 19.5 x 20 ft dimensions, all with bath, closets attached, Great Room - Living, Dining and Kitchen of 30 ft x 40 ft , with two stone fire places, cherry cabinets and big screen HDTV,two wet bars with sit outs annexed, and a basement area with provision for physical work out and indoor games. Project scope defines what the project is going to accomplish as related to its budget. Budget includes time and money. It covers project size, goals, and requirements. Should there arise a change in the scope, corresponding change in the budget becomes inevitable. For example, if the project scope is to construct the servant's quarters with a budget of $ 50,000, then the project manager is expected to do that. Just in case, the project manager is asked to change the specifications of the quarters, say, adding another room in the servant's quarters, then the project scope gets changed. The budget is also to be changed correspondingly. From these quotes, one can understand that Quality in any situation is meeting the user's expectation. ... In our project the following can be classified as cycled activities: 1. Think tank meetings, involving reviews and revisions 2. Building construction work, at different stages. 1.04 Typical non-cycled activities Typical non cycled activities in our project are 1. Buying of land for construction of villa 2. Buying of furnishings at the final stage. Complete the following questions: 1.05 Describe the following broad project objectives: Scope. Project scope defines what the project is going to accomplish as related to its budget. Budget includes time and money. It covers project size, goals, and requirements. Should there arise a change in the scope, corresponding change in the budget becomes inevitable. For example, if the project scope is to construct the servant's quarters with a budget of $ 50,000, then the project manager is expected to do that. Just in case, the project manager is asked to change the specifications of the quarters, say, adding another room in the servant's quarters, then the project scope gets changed. The budget is also to be changed correspondingly. Scope of this project is to build a Villa of 6800 sq ft plinth area, on a budgeted cost of $ 3,000,000 to be completed in 17 months. Quality "Quality is fitness for use" - J.M. Juran "Quality is meeting or exceeding customer expectations at a cost that represents a value to them." - H. James Harrington "Quality should be defined as surpassing customer needs and expectations throughout the life of the product." - Howard Gitlow and Shelley Gitlow [Neville Turbit, (Sept 2004) 08-03-2009()] From these quotes, one can understand that Quality in any situation is meeting the user's expectation. If one