Partnership and Its Types Essay Example for Free

Partnership and Its Types Essay A partnership arises whenever two or more people co-own a business, and share in the profits and losses of the business. Each person contributes something to the business such as ideas, money, or property though management rights and personal liability will vary. In Pakistan the partnership firms are registered under the partnership act 1932 which defines the partnership as â€Å"The relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all† There should be at least two or maximum twenty partners in a firm with the exception of banking where maximum of ten partners could make the partnership A partnership may be registered with the Registrar of Firms of an area where the office of the firm is situated or proposed to be situated. A statement in prescribed form must be delivered to the relevant Registrar stating: †¢Firm name †¢Place or principal place of business of the firm †¢Names of any other places where the firm carries on business †¢Date when each partner joined the firm †¢Names in full and permanent addresses of the partners †¢Duration of the firm †¢Foretasted statement signed and verified by each partner Types of partners Active or working partner: Such a partner contributes capital and also takes active part in the management of the firm. He bears an unlimited liability for the firms debts. He is known to outsiders. He shares profits of the firm. He is a full-fledged partner. 2. Sleeping or dormant partner: A sleeping or inactive partner simply contributes capital. He does not take active part in the management of the firm. He shares in the profits or losses of the firm. His liability for the firms debts is unlimited. He is not known to the outside world. 3. Secret partner: This type of partner contributes capital and takes active part in the management of the firms business. He shares in the profits and losses of firm and his liability is unlimited. However, his connection with the firm is not known to the outside world. 4. Limited partner: The liability of such a partner is limited to the extent of his share in the capital and profits of the firm. He is not entitled to take active part in the management of the firms business. The firm is not dissolved in the event of his death, lunacy or bankruptcy. 5. Partner in profits only: He shares in the profits of the firm but not in the losses. But his liability for the firms debts is unlimited. He is not allowed to take part in the management of the firm. Such a partner is associated for his money and goodwill. 6. Nominal: Such a partner neither contributes capital nor takes part in the management of business. He does not share in the profits or losses of the firm. He only lends his name and reputation for the benefit of the firm. He represents himself or knowingly allows himself to be represented as a partner. He becomes liable to outsiders for the debts of the firm. A nominal partner can be of two types: 7. Minor as a partner: A minor is a person who has not completed 18 years of age. A minor cannot become a partner because he is not qualified to enter into a contract. But he may be admitted to the benefits of partnership with the mutual consent of all the partners. On being so admitted, a minor becomes entitled to a share in the profits of the firm. He can inspect and copy the books of account of the firm but he cannot take active part in the firms management. His liability is limited to the extent of his share in the capital and profits of the firm. He cannot file a suit against the firm or its partners to get his share except when he wants to disassociate himself from the firm. After becoming a major, the minor must give a public notice within six months if e wants to break off his connections with the partnership firm. If he does not give such a notice within six months or if he decides to remain in the firm, he becomes liable to an unlimited extent for the debts of the firm from the date he was admitted to the benefits of partnership. He also becomes entitled to take active part in the management of the firms business. 8. Sub partner: He is a third person with whom a partner agrees to share his profits desired from the firm. He does not take part in the management of the firm. He is not liable for the firms debts.

July 31, 1976 Colorado :: essays research papers

On July 31, 1976, a violent rainstorm hit the area where the Big Thompson Canyon is located. According to reports the rainfall was falling at an alarming rate of 2† per hour which caused the Big Thompson river to rise and return to its primordial state. This all began when winds from the east pushed very humid air up the mountains. The unstable air continued rising as its water vapor condensed. The winds were less than 20 mph above 10,000 feet that was too weak to move the storm away. Humid high-altitude air combining with weak winds meant the storm pulled into little dry air to weaken the rainfall. Hardly any of the rain soaked into the steep-sided canyon. The river quickly went over its banks, filled with debris that acted like battering rams against downstream buildings and cars. The water then backed up in the canyon’s narrow mouth, in floods, water often backs up as debris piles against bridges. The Floodwater sped up as it squeezed through narrow places was freed when the dam that was formed by debris burst loose. Due to these events, occurring in such a short time the U.S. Army came to rescue 850 people off the tops of homes, canyon walls, and rocks. The flood destroyed 556 homes and 52 businesses. The total damage was $35.5 million to the area; it cost $1 million dollars to remove 320, 450 tons of debris. The storm and flood caused the Big Thompson River to change course in thirty places. The flood killed 144 people and it took the authorities working until mid-September to identify all the bodies. The town felt that most of the deaths occurred due to the lack of a timely warning. To prevent this from happening again they installed a reverse 911 emergency system.

Why So Expensive

College is said to be some of the best years of your life. The parties, the freedom, and the new experience help you find new friends, hopefully a career and yourself, but rising college cost are having young adults stressing instead of enjoying the college experience. Every year less and less states are giving their college’s money and more and more students are asking for financial aid or taking out student loans. The more that college tuition continues to rise the more of a financial toll it will take on students family and the more debt students trying to earn degrees will accumulate if we don’t try to find a way to get the state and government to help with college costs. For public colleges and universities the price of education rose 14. 1% more than the year before and for private schools it rose 6%, but is the economy the thing to blame for rising costs (Weston)? Ivy League schools, private schools, and public schools will do about anything to make it on U. S. news and World Reports annual college rankings or other college related programs by spending more money on high-speed internet, bigger and more extravagant dining facilities, new gyms and equipment, and having apartments on campus instead of dorms (Asinof). In the 1990s the stock market and big money donors helped keep college cost reasonable, but since the economy is in a recession money is hard to come by especially for big establishments. Student loans and financial aid help many students when it comes to paying for college, but there are some people who â€Å"make too much† to receive financial aid when in reality they need financial aid just as much as the kid coming from the single parent home with five siblings. Some argue you that there shouldn’t be an income cut off when it comes to giving someone government assistance, but if everyone who needed government assistance received it then the government would have a money problem when it comes to putting students through higher education. Many politicians, District Education Boards and school administrators agree on the fact that declining state support for education is the main reason behind plummeting college costs (Asinof). Since the start of the economic crisis in the Untied States the tuition and mandatory fees for public four year schools in every state increased. Boston College, for example, in 2006 for an out of stator to attend it cost 33,000 dollars and now to attend for the 2010 year it costs about 39,000 dollars (College Board). The state’s where tuition has increased the most has been Massachusetts and South Carolina where the price has jumped 26 percent (Weston). The tuition price has also been raised for community colleges as well making a two-year higher education just as expensive if you were to go to a community college out of state. The economy does play a big part in rising college costs, but so do the state the college is in as well. The state is responsible to help cover tuition costs. More needed money for health care has put a shadow over education and because of that shadow the tuitions will either stay where they are or continue to rise (Weston). Without help paying for education the younger generation will either choose to work minimum wage jobs or will be covered with debt for half of their lives. Kelli Space, 23, graduated from Northeastern University in 2009 with a bachelor's in sociology and also $200,000 in student loan debt (Rowley). Over the last couple of years, private lenders, nominated by college financial aid offices, have been giving young people hundreds of thousands of dollars to earn bachelor's degrees (Rowley). As a result of declining grants and costs, more than two-thirds of students graduated with debt in 2008 which is 45 percent more than in 1993 (Rowley). People are beginning to compare the student loan crisis that is happening to young people to the mortgage crisis that is happening to home and small business owners. Families are finding it easier to recieve a loan from private student loan firms because of how easy they make it seem to barrow money and pay for college when in reality private loan companies have strict repayment rules and have extremely high interest rates. Tuition costs are beginning to outweigh the federal loans and grants (Rowley). Many of my friends have been saying they are trying to avoid student loans as much as possible by going to a community college first or trying to save up enough money to pay the college up front, but when it all comes down to it,in this day and age, more than one-third of college student will have to take out at least one student loan to finish their education. There has always been a cost and price on education. The cost of working hard, the price of going out instead of studying, the cost of finding a major, and the cost of fun. Now the cost and price of paying for education is unbearable and getting to the point of being unpayable. When will the states realize education is just as important as the new pavement need on I35- south and just as important as healthcare that they will be able to lower tuition costs? Hopefully soon or this generation will have a debt epidemic that no president can promise to fix.

John Williams (Composer) Essay

Born in Queens, NY, in 1932, John Williams is arguably the most sought-after composer in Hollywood today. Musically, John Williams greatly influences my work and I find his grandiose, sweeping scores a benchmark to which I would like to progress to in my composing career. With 47 Academy Award nominations, he is the most nominated musician in Academy Awards history and the second-most nominated person of all-time (second to Walt Disney). However, Williams’ rise to fame has been slow and it has taken many years for him to become the household name he is today. This encouraged me, as it showed that even a musical legend like John Williams started out small and worked his way up. During his time studying at Juilliard, he worked as a jazz pianist in New York clubs and after his studies, he moved to L.A. where he began working as a studio pianist for renowned composers, such as Henry Mancini and thus, some of his more comedic scores show Mancini’s influence. He soon gained notice in Hollywood for his versatility in composing jazz, piano and symphonic music. When composing a piece of music, I always look to John Williams for inspiration. One of his most famous techniques, and a technique I greatly appreciate, is the concept of leitmotif and his ability to write a fitting and recognisable piece of music to accompany a particular character; a favourite of mine being â€Å"Princess Leia’s Theme† from Stephen Spielberg’s space epic Star Wars. Williams’ collaboration with Stephen Spielberg began when Spielberg was an all but unknown director, with the film The Sugarland Express and with the momentum of that success, they began a long collaboration together, working on films such as Indiana Jones, Schindler’s List, Harry Potter, Jaws, Jurrasic Park and Close Encounters of the Third Kind, with the latter’s musical and film concepts being worked on simultaneously by Spielberg and Williams, an unusual step for a Hollywood film but typical of John Williams for pushing boundaries. His ability to write so many different styles of music, from Schindler’s List to Indiana Jones, is a skill I which greatly inspires me, as well as his flair for conveying a particular theme; particularly in E.T, where his music depicts the childlike innocence of the film. He is a chameleon of sorts and his seemingly effortless approach to composing exquisite pieces of music for completely different genres makes him stand out amongst other notable musicians of our modern culture. He also takes a lot of inspiration from composers such as Richard Strauss and Wagner, and it is evident in the style of some of his work that he admires the grand, symphonic scores and neoromatic style of Golden Age composers Max Steiner and Erich Wolfgang Korngold. When orchestras are performing his pieces, John Williams likes to be the one to conduct, adding more passion and depth to the music that wouldn’t be there if it were another conductor. I have viewed many videos on Youtube of orchestras playing Williams’ creations and each time they have played with a fervour and respect that spawns a magical, tangible atmosphere, making the music stay with you long after the orchestra has stopped playing. The fact that his scores are not particularly technically difficult, yet still require a musician of great calibre to play them, shows how much effort Williams puts in to evoke the emotion and theme of the film. Star Wars is perhaps Williams’ most famous and memorable scores and is the highest-grossing non-popular recording of all-time. The combined scores add up to more than 14 hours of orchestral music – a magnitude unheard of by most musicians. It is this tenacity and dedication that I admire most about John Williams and is, most likely, what gave him the remarkable career he has enjoyed for so many years.

Overview of Tiger Moths, Subfamily Arctiinae

Overview of Tiger Moths, Subfamily Arctiinae Anyone who has used a black light to sample insects at night has probably collected a few tiger moths. The subfamily name Arctiinae is likely derived from the Greek arctos, meaning bear, an apt nickname for the fuzzy tiger moth caterpillars. Appearance Tiger moths are often (but not always) brightly colored, with bold markings in geometric shapes. They tend to be small to medium in size and bear filiform antennae. The adults are mostly nocturnal, and hold their wings flat, like a roof over their bodies, when at rest. Once youve seen a few tiger moths, you will probably recognize other members of the subfamily Artiinae by sight alone. There are, however, some specific wing venation traits used for identification. In most tiger moths, the subcosta (Sc) and radial sector (Rs) are fused to the center of the discal cell in the hind wings. Tiger moth caterpillars are often quite hairy, which is why some are referred to as woollybears. This subfamily includes some of our most beloved caterpillars, like the banded woollybear, which is believed by some to be a predictor of winter weather. Other members of the group, like the fall webworm, are considered pests. Habitat There are about 260 species of tiger moths in North America, a small fraction of the 11,000 species known worldwide. Tiger moths inhabit both temperate and tropical zones but are more diverse in the tropics. Diet and Life Cycle As a group, tiger moth caterpillars feed on a wide range of grasses, garden crops, shrubs, and trees. Some species, like the milkweed tussock moth, require specific host plants (in this example, milkweed). Like all butterflies and moths, tiger moths undergo a complete metamorphosis, with four life cycle stages: egg, larva (caterpillar), pupa, and adult. The cocoon is constructed mostly from larval hairs, making for a rather fuzzy pupal case. Defenses Many tiger moths wear bright colors, which may serve to warn predators that theyd be an unpalatable meal. However, the nocturnal tiger moths are also hunted by bats, which find their prey using echolocation rather than sight. Some species of tiger moths have an auditory organ on the abdomen to help them detect and avoid bats at night. Tiger moths dont just listen for bats and flee, though. They produce an ultrasonic clicking sound that confuses and deters the bats pursuing them. Recent evidence suggests the tiger moths are effectively jamming or interfering with bat sonar. Some clever tiger moths that are perfectly tasty will mimic the clicking of their unpalatable cousins, much like the viceroy butterfly mimics the colors of the toxic monarch butterfly. Classification The tiger moths were previously classified within the family Arctiidae, and in some cases are listed as a tribe instead of a subfamily. Their current classification is: Kingdom: AnimaliaPhylum: ArthropodaClass: InsectaOrder: LepidopteraFamily: ErebidaeSubfamily: Arctiinae Sources Borror and DeLongs Introduction to the Study of Insects, 7th edition, by Charles A. Triplehorn and Norman F. JohnsonInsects: Their Natural History and Diversity, by Stephen A. MarshallMoths mimic each others’ sounds to fool hungry Discover Magazine, accessed November 14, 2012Moths Use Sonar-Jamming Defense to Fend Off Hunting Bats Scientific American, accessed November 14, 2012Moths Mimic Sounds To SurviveSubfamily Arctiinae - Tiger and Lichen Moths BugGuide.Net, accessed November 14, 2012Flying Tigers, Entomology Notes #19, Michigan Entomological Society, accessed November 14, 2012

NASA Not Ready for Safe Manned Mars Mission

NASA Not Ready for Safe Manned Mars Mission NASA lacks the â€Å"right stuff† to deal with the dangers involved in sending humans to Mars and bringing them back – alive according to the space agency’s own Office of Inspector General (IG). In his 48-page report, NASA inspector general Paul K. Martin stated that NASA â€Å"faces significant challenges† in protecting Mars mission crews, and that it is being too â€Å"optimistic† in projecting its timetable for responding to the risks. As a result, Mars-bound humans â€Å"may have to accept a higher level of risk than those who fly International Space Station missions.† Now planned for the 2030s, NASA’s first human mission to Mars will be fraught with new dangers such as deep space radiation, increased cancer risk, impaired vision, negative effects of extended space travel on human behavior and performance. Reality check: By the 2030s, there will still be no warp drives, transporters, replicators or other â€Å"Star Trek† wonders to help our Mars-bound astronauts get there faster and stay alive longer. In fact, as IG Martin notes, they might even run out of food. Running out of Food? Yes, even basic nutrition could become a big problem, according to the report, because: A mission to Mars and back will take at least 3 years, but the current maximum shelf life for NASA’s prepackaged foods is only 1.5 years.The vehicle carrying astronauts to Mars and back will probably be far smaller than the International Space Station, providing significantly less room for food storage.Periodic resupply missions carrying more food, like those currently serving the Space Station, will not be possible.Finally, NASA scientists do not know how deep space radiation will affect the quality, shelf life and nutritional value of food. While NASA is investigating resupply alternatives, including actually growing food in the Mars spacecraft, the IG stated, â€Å"Despite 35 years of experience with space flight and research in this area, NASA food scientists continue to face challenges from crew member weight loss, dehydration, and reduced appetite that can result in nutrient deficiencies both during and post mission.† Dangers and Costs of Dealing with Them Not Known While NASA has developed ways to deal with most of the risks of travel in low Earth orbit, many of the added risks associated with long duration space travel – like trips to Mars and back are not yet fully understood. In addition, taxpayers, IG Martin also found that NASA cannot accurately project the true costs of creating ways to deal with the Mars mission risks. In fact, the ability of NASA to pay for a manned Mars mission, safe or not, is questionable given its shrinking share of the annual federal budget, which Congress has shown no signs of enlarging any time soon. â€Å"NASA has taken positive steps to address the human health and performance risks inherent in space travel,† Martin wrote, adding, â€Å"Long duration missions will likely expose crews to health and human performance risks for which NASA has limited effective countermeasures. †¦ Accordingly, the astronauts chosen to make at least the initial forays into deep space may have to accept a higher level of risk than those who fly International Space Station missions.† A ‘Culture of Silos’ Dragging NASA Down In his report, IG Martin contends that NASA’s scientists and engineers are held back by their tendency to work in what he called a â€Å"culture of silos,† in which technical teams work and collaborate only with specialists within their own areas of expertise. In other words, not enough research data is being shared. â€Å"We found multiple examples of work taking place on health and human performance risks that suffered from such communication silos,† Martin wrote. According to the report, NASA’s has so far failed to give its astronaut life safety community a designated representative to work with the engineering, safety, and mission planning communities to ensure that issues of astronaut health and physical performance are fully and properly considered. IG Found Some Progress, But†¦ IG Martin did find that NASA had been taking some steps to lessen the risks of the Mars mission including a new Mars rover, set for launch in 2020, that will be able to extract and collect oxygen from thin Martian atmosphere and ways to grow food in the almost sterile Martian soil. However, Martin concluded that NASA must speed up its work on astronaut safety in order to meet its established manned Mars mission goals and timetables.

The Raise interactive scenario Essay Example | Topics and Well Written Essays - 250 words

The Raise interactive scenario - Essay Example In Tanzania in the areas of Mererani, children are subjected to deplorable conditions of mining, while they ought to be in schools or other places. A child is supposed to go through childhood and enjoy the happenings that happen in that stage. It does not help matters that poverty and the rare of occurrence of gem could be coincidental in Mererani (Sanga, 2007). Thus, the children in this place are subjected to work at that early stage and point in their life. It beats logic to note that as much as this place and area is a lucrative zone of close to thirty million dollars, a sizeable proportion of the population still live under poverty. It is needless to stress that the children who work in this sites also constitute part of the poor population (Goodman & Barnes, 2011). Thus, it would be more beneficial to them and the future of the society if they were involved in other alternative activities such as pursuing education. Subsequently, the risk and the deplorable work conditions in the mines do not make matters any easy for the children. Firstly, the children do not have any skill or expertise on how to act or behave when they are down deep in the mines (Schroeder, 2010). Thus, they are exposed to dangers of losing the prospects of a better life ahead of them, if they do not succumb to the dangers of the mines. Conclusively, there are other options that could be pursued to relieve these children off their predicament as articulated above. Sanga, S. P. (2007). The Role of Poor Governance in the Tanzanite-Al Qaeda Link Controversy, and Policy Options for Tanzania Enabling it to Escape from ‘Curses’ in the Mining Industry. One Society Institute.[Online] Available at: www. policy. hu/document/200808/sebastian. sanga. pdf&letoltes,