Mill vs kant Essay

The writings of John Stuart Mill and Immanuel Kant present very different ideas concerning the Ethical Problem. Mill’s ideas are referred to as Utilitarianism. In this system of thought, the basic belief is that happiness is the greatest goal and actions should be judged by their ability to provide the greatest happiness to the greatest number of people. Kant, the Deontologist, believed that it is not the result of the action that is important, but the action itself. He advocated a moral rule based on reason. The basic ideas found in these philosophers’ writings lead me to see Mill’s argument as the more plausible solution to the ethical problem. He believed that morality is associated with happiness and his idea that greater happiness for the greatest number of people should be the ultimate goal appears to be a worthy ambition. This would contribute to social order and supports our accepted ideas that actions such as murder are wrong. There are two definitions included in his writing which explained his ideas more clearly to me. The first was â€Å"The Greatest Happiness Principle, which was defined as actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness† ( ) Happiness is defined as â€Å" pleasure and the absence of pain†( )Based on my own experience it is plausible to believe most of us are seeking pleasure and attempting to avoid pain; if these attempts are designed to provide the most happiness to the most people, it would appear we are attempting to be moral. This also seems to be common sense, pleasure is good and pain is bad; regardless of other beliefs most people do accept this. The effects on a society, where people are attempting to provide the most pleasure for the most people, cannot be overlooked. This type of society would be more fair and peaceful since everyone must consider the needs of others equal to their own. This idea that morality of an action is based on the amount of happiness it produces for the most people can be understood and possibly studied. It appears that if sociologists or psychologists could determine what makes people happy, we might be able to design social policies that would benefit society by increasing the happiness of a larger number of people. Mill recognizes that â€Å"some kinds of pleasure are more desirable and more valuable than others† ( 37 text) and feels it would be ridiculous to think that pleasure should only be measured by quantity and that his pleasure principal would turn humans into unhappy irrational animals only interested in less valuable pleasure. ( text ) The deontological moral theory of Kant is very different from the Utilitarian theory of Mill, and in my opinion much more difficult to read and understand. He believes that whether or not an action is right or wrong, moral or immoral â€Å"does not depend on the consequences but on whether they fulfill our duty. † (3) This was based on his belief that there was a supreme principle of morality that he referred to as the Categorical Imperative. (4) This philosophy also required that two questions be asked before any action is taken. They are:† Can I rationally will that everyone act as I purpose to act? â€Å"There is only one categorical imperative. It is: Act only according to that maxim by which you can at the same time will that it should become a universal law. † (Text) I believe he is arguing . if you don’t think everyone should take this action, you should not. â€Å"Does my action respect the goals of human beings rather than merely using them for my own purposes? (5) He also felt that the motivation for your actions determined if you were acting as a good and moral person. It is the motivation based on morality which is important not the consequences of the action. To Kant giving money to charity because it is deductable on your income tax is not a moral action; Mill would consider it moral because the happiness of some people is increased. Kant believed duty was more important than happiness and unhappiness should not affect your willingness to do your duty. The things he believed and the questions he asked were based on the idea that moral rules are based on reason. I also have difficulty accepting his idea that if two people reasoning logically they will arrive at the same conclusion, if we don’t arrive at the same conclusion who is moral? These ideas led him to create a very ridged view of morality. Things `that violate the categorical imperative are always wrong, no acceptations, and things that are good are always good. I cannot accept the idea that we become moral as the result of reasoning particularly when he indicates that at some point we stop any type of reasoning and accept absolutes. It is difficult not to realize that much of what we view as moral is the result of what we have been taught by our parents and institutions in our society. He gives no consideration to any differences in societies. When I compared the ideas of Kant and Mill, I find Mill’s work more plausible. I find Kant’s the idea that we become moral through reason very hard to accept particularly when you consider how differently societies define morality. Mill bases his ideas on the very simple idea human seek pleasure and attempt to avoid pain; therefore if your actions contribute to providing the most pleasure to the greatest number of people you are moral. Kant claimed not to be against happiness, but saw it as of much less importance than duty.

Derivative and Its Impact on Stock Market

A Paper Presentation Derivative and its impact on capital market Derivative and its impact on capital market On Prepared by Ms. Vidhi Joshi Asst. Professor MBA Department T. N. Rao college of Management Studies Rajkot 1. Introduction to Derivative: The rapidity with which Indian capital market, corporate finance, banking and investment finance has witnessed a major transformation and structural change from the past one decade and this change in recent years has given birth to a new discipline that has come to be known as Financial Engineering. Financial engineering involves the design, the development, and the implementation of innovative financial instruments and processes, and the formulation of creative solutions to problems in finance. The last decade has witnessed the introduction of ‘derivatives’ as an innovative financial instrument in the Indian markets. One of the major objectives of these reforms was to bring the Indian capital market up to a certain international standard. Due to such reforming process, one of the significant step taken in the secondary market is the introduction of derivative products in two major Indian stock exchanges viz. National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) , with a view to provide tools for risk management to investors and to improve the informational efficiency of the cash market. A derivative is financial instrument whose value is ‘derived’ from another underlying security or a basket of securities the underlying is the identification tag for a derivative contract. Derivatives are instruments of risk hedging. In the Indian context the Securities Contracts (Regulation) Act, 1956 (SCRA) defines â€Å"derivative† as a security that is derived from a debt instrument, share, loan whether secured or unsecured, risk instrument or contract for differences or any other form of security, same as a contract which derives its value from the prices, or index of prices, of underlying securities. Derivative products includes futures, forwards, options and swaps, and these can be combined with each other or traditional securities and loans to create hybrid instruments. In other words, a future contract is a standardized agreement between the seller (short position holder) of the contract and the buyer (long position holder), traded on a futures exchange, to buy or sell a certain underlying instrument at a certain date in the future, at a pre-set price. The future date is called the delivery date or final settlement date. The pre-set price is called the futures price. The price of the underlying asset on the delivery date is called the settlement price. Equity derivatives trading started on June 9, 2000 with introduction of stock index futures by Bombay Stock Exchange (BSE). National Stock Exchange (NSE) also commenced its trading on 12 June, 2000 based on S&P Nifty. Trading on NIFTY futures was introduced on the 12th of July 2000. Trading on stock futures was introduced in the NSE in the 9th November, 2001. Subsequently, other products like stock futures on individual securities, index options and options on individual securities were introduced. Forward Contract: A Forward Contract is a transaction in which the buyer and the seller agree upon a delivery of a specific quality and quantity of asset usually a commodity at a specified future date. The price may be agreed on in advance or in future. † Future Contract: It involves an obligation on both the parties i. e. the buyer and the seller to fulfill the terms of the contract (i. e. these are pre-determined contracts entered today for a date in the future) * Obligation to buy or sell * Stated quantity * At a specific price * Stated date (Expiration Date) Marked to Market on a daily basis Options: An Options contract confers the right but not the obligation to buy (call option) or sell (put option) a specified underlying instrument or asset at a specified price – the Strike or Exercised price up until or an specified future date – the Expiry date. † The Price is called Premium and is paid by buyer of the option to the seller or writer of the option. à ¢â‚¬  Types of option * Call Option * Put option Put Option: The right to sell a futures contract. It provides protection against falling prices and also sets a minimum price target. Call Option: The right to buy a futures contract. It protects against rising prices and it also allows participation in seasonal price rises. Swap: Swap is a contract between two parties to exchange a set of cash flows over a pre-determined period of time. Example ‘A’ agrees to pay cash based on the rate of return of an agreed stock market index to the second counter party ‘B’. Participants in Derivatives Market: 1. Hedgers: They use derivatives markets to reduce or eliminate the risk associated with price of an asset. Majority of the participants in derivatives market belongs to this category. 2. Speculators: They transact futures and options contracts to get extra leverage in betting on future movements in the price of an asset. They can increase both the potential gains and potential losses by usage of derivatives in a speculative venture. 3. Arbitrageurs: Their behaviour is guided by the desire to take advantage of a discrepancy between prices of more or less the same assets or competing assets in different markets. If, for example, they see the futures price of an asset getting out of line with the cash price, they will take offsetting positions in the two markets to lock in a profit. Applications of Financial Derivatives: Some of the applications of financial derivatives can be enumerated as follows: 1. Management of risk: This is most important function of derivatives. Risk management is not about the elimination of risk rather it is about the management of risk. Financial derivatives provide a powerful tool for limiting risks that individuals and organizations face in the ordinary conduct of their businesses. It requires a thorough understanding of the basic principles that regulate the pricing of financial derivatives. Effective use of derivatives can save cost, and it can increase returns for the organisations. 2. Efficiency in trading: Financial derivatives allow for free trading of risk components and that leads to improving market efficiency. Traders can use a position in one or more financial derivatives as a substitute for a position in the underlying instruments. In many instances, traders find financial derivatives to be a more attractive instrument than the underlying security. This is mainly because of the greater amount of liquidity in the market offered by derivatives as well as the lower transaction costs associated with trading a financial derivative as compared to the costs of trading the underlying instrument in cash market. 3. Speculation: This is not the only use, and probably not the most important use, of financial derivatives. Financial derivatives are considered to be risky. If not used properly, these can leads to financial destruction in an organisation like what happened in Barings Plc. However, these instruments act as a powerful instrument for knowledgeable traders to expose themselves to calculated and well understood risks in search of a reward, that is, profit. 4. Price discover: Another important application of derivatives is the price discovery which means revealing information about future cash market prices through the futures market. Derivatives markets provide a mechanism by which diverse and scattered opinions of future are collected into one readily discernible number which provides a consensus of knowledgeable thinking. MOTIVATION FOR THE STUDY In the last decade, many emerging and transition economies have started introducing derivative contracts. Policy makers and regulators in these markets are concerned about the impact of futures on the underlying cash market. One of the reasons for this concern is the belief that futures trading attract speculators who then destabilize spot prices. Since futures encourage speculation, the debate on the impact of speculators intensified when futures contracts were first introduced for trading, beginning with commodity futures and moving on to financial futures. Before further regulations are introduced, it is essential to determine whether in fact there is a causal link between the introduction of futures and spot market volatility. It, therefore becomes imperative that we seek answers to questions like: What is the impact of derivatives upon market efficiency and liquidity of the underlying cash market? To what extent do derivatives destabilize the financial system, and how should these risks be addressed? Can the results from studies of developed markets be extended to emerging markets? Capital Market and Derivative segment in Indian Stock Market: Today Indian stock market is very sound in terms of participants from all sections, huge turnover and number of listed companies. Cash segment and derivative segment both have grown with each other. NSE and BSE are the major exchanges. Over the years Indian stock market has modernized with the use of high modern Information and Communication technology. Derivative instruments have become part and parcel of business world. Today, derivative instruments are used in all markets such as foreign exchange, shares, commodities etc. New, sophisticated, complex and exotic tools are being developed in different markets. The innovative derivative instruments have been developed in such a manner that these are used even by a common man. Although derivatives have been in existence for long in past in one or another form but present day sophisticated, standardized derivative products. Growth of Derivatives Market in India: Equity derivatives market in India has registered an â€Å"explosive growth† and is expected to continue the same in the years to come. Introduced in 2000, financial derivatives market in India has shown a remarkable growth both in terms of volumes and numbers of traded contracts. NSE alone accounts for 99 percent of the derivatives trading in Indian markets. The introduction of derivatives has been well received by stock market players. Trading in derivatives gained popularity soon after its introduction. In due course, the turnover of the NSE derivatives market exceeded the turnover of the NSE cash market. For example, in 2008, the value of the NSE derivatives markets was Rs. 130, 90,477. 75 Cr. whereas the value of the NSE cash markets was only Rs. 3,551,038 Cr. Table 1 : Turnover of Cash segment in India Year| Turnover at BSE| Turnover at NSE| Total Turnover| 1992-93| 45696| -| 45696| 993-94| 84536| -| 84536| 1994-95| 67749| 1805| 69554| 1995-96| 50064| 67287| 117351| 1996-97| 124190| 295403| 419593| 1997-98| 207113| 370193| 577306| 1998-99| 310750| 414474| 725224| 1999-00| 686428| 839052| 1525840| 2000-01| 1000032| 1339510| 2339542| 2001-02| 307292| 513167| 820459| 2002-03| 314073| 617989| 932062| 2003-04| 503053| 1099534| 1602587| 2004-05| 518715| 114007 2| 1658787| 2005-06| 816074| 1569558| 2385632| 2006-07| 956185| 1945287| 2901472| 2007-08| 1578857| 3551038| 5129895| 2008-09| 1100074| 2752023| 3852097| 2009-10| 1136513| 2805878| 3942391|

Comparison Between The American Revolutionary War And The 11 States Secession From The Union

The American Revolutionary War which occurred between 1775 and 1783 a conflict that involved the Thirteen United British colonies in North America and the Kingdom of Great Britain. The thirteen colonies had been established between 1607 and 1733 as a result of the British colonization in North America. The thirteen states desire to overthrow the British rule and to acquire independence motivated the revolutionaries to fight for the control of the Thirteen British Colonies from the British rule.As a result of the war, the thirteen colonies were able to overthrow the British Empire governance and gain independence to become the United States of America. Self –governing independent states were formed by the colonies, which then became united in order to defend their independence or self-governance against the British rule. At the end of the war, the thirteen colonies were able to break away from the British Empire rule, and they became independent under the 1776 Declaration of In dependence.The secession of the eleven southern states from the US Federal government(Union) resulted to the American Civil War which occurred between 1861 and 1865 . The secession resulted to the formation of the Confederate States of America(Confederacy),which was supported by all the border slave and free states. Due to the difference in opinion between the anti-slavery northern states and the slave-owning southern states, the conflict was triggered. The secession was motivated by the southern states fear of losing control over the federal government to the northern states.The southern states also intended to continue with slavery, which the northern states did not support. Both the American Revolutionary War and the secession have certain similarities and differences. Discussion Similarities between the American Revolutionary War and the Eleven Southern States Secession One major similarity between the two historical events is that, one opposing side in the conflicts was motivat ed by the need to be independent. In the American Revolutionary War, the thirteen colonies under the revolutionaries fought against the British rule in order to be independent.Before the conflict, the thirteen colonies were part of the British America which was under the British rule under a set of mandates, dominions, and protectorates. During the secession of the eleven southern states, the states fought for their independence from the Union or the then US Federation government. While the desire to be independent was triggered by different reasons for the two events, the major reason of the two conflicts was to seek sovereignity.The Southern states wanted to be independent so as to practice slavery and continue owning slaves without the influence of the anti-slavery northern states, while the thirteen states wanted their independence from the British unpopular and illegitimate rule. Another similarity between the two is that, the parties that sought to be independent were successf ul. In the American Revolutionary war, the thirteen states were able to get independence and sovereignty to become the United States of America. The secession of the eleven states on the other hand led to the independence of the states from the Union to form the Confederate of States.However, the independence of the southern states was short lived and it ended in 1865. In the two events, there was the use of military forces . The American Revolutionary War involved the British, and the revolutionary and the allies forces. The secession ended with the American Civil War, where the Confederacy and Union forces fought. The Differences The two events were different based on the military forces that were involved in the conflicts. The American Revolutionary War had the other outside military forces assisting the two conflicting parties in the war.However, the secession of southern states and the resulting American Civil War was a conflict between two American forces (the Union and the Co nfederacy forces), where the Union forces were made up of the northern states, while the confederacy forces were made up of the southern states. In addition, the two events were motivated by different reasons to be independent. While the American Revolutionary War resulted from the thirteen states desire to be independent so as to prevent the British rule imposing of taxes and laws that were unpopular , the eleven Southern States desire to be independent was motivated by the states support of slavery.Did the Constitution require a Perpetual Union? The Perpetual Union played an important role in the formation of the US Constitution. After defeating the British rule, the governing constitution of the thirteen independent states was the Articles of Confederation and Perpetual Union. This made it possible for the formation of the â€Å"United States of America† and the confederation government. The states were therefore able to retain their sovereignity. The establishment of a fe deral system of governance made it less important for some content of the Articles of Confederation and Perpetual Union to be put in the constitution.However,the perpetual union constitution paved way for a more powerful and balanced government. The need to have a more powerful government and balance legislative decisions of small and large states motivated the replacement of the Articles of Perpetual Union with the US Constitution . Abraham Lincoln made an inaugural address in March 4, 1861 in relation to the constitution and the Union. According to his speech, Lincoln recognized that the Union was older than the constitution.The Union had been formed much earlier than the constitution under the Articles of Association in 1774, and the 1776 Declaration of Independence continued the union. After getting their sovereignity, the Thirteen States had accepted to be in the Perpetual Union in 1778 under the Articles of Confederation. Lincoln through his inaugural address acknowledged the importance of the Perpetual Union by stating that the 1787 move to establish and ordain a US Constitution was to improve the earlier formed union into a perfect union.ConclusionThe American Revolutionary War and the secession of the eleven southern states are two historical events that have contributed greatly to the American history . The activities that took place during the two events have continued to mould the American society up to date. These two events were very beneficial to the American people because they managed to obtain their independence from the British rule, and the social injustices (slavery) fought against. Though many people lost their lives during the conflicts, the American people continue to enjoy the benefits that resulted from the conflicts up to date.Works Cited Chambers, John. The Oxford Companion to American Military History. Oxford University Press, 1999 Heidler, David. Encyclopedia of the American Civil War: A Political, Social, and Military History (20 02), 1591–98 Higginbotham, Don. The War of American Independence: Military Attitudes, Policies, and Practice, 1763–1789. Northeastern University Press, 1983 Kenneth, Stampp. â€Å"The Concept of a Perpetual Union,† The Journal of American History, Vol. 65, No. 1 (Jun. , 1978), pp. 5-33 Weintraub, Stanley. Iron Tears; America's Battle for Freedom, Britain's Quagmire: 1775- 1783. New York: Free Press, 2005

Dominican-American Convention of 1907 Essay Example | Topics and Well Written Essays - 250 words

Dominican-American Convention of 1907 - Essay Example Second, the Dominican debt included American creditors and the United States wanted to see that they were paid and American control of Dominican finances made this more likely. The principle that the United States would force countries in the western hemisphere to pay their foreign debt is the Roosevelt Corollary of the Monroe Doctrine. Third, the United States wanted to make a statement and demonstrate to other countries in the western hemisphere that if they did not pay their foreign debts the United States would intervene and force them to. Accepting the fiscal convention preempted direct military intervention by the the European states that would have interfered with Dominican sovreignty. It also prevented direct military intervention by the United States. In this sense it allowed the Dominican to avoid a worse fate – invasion. Also, there was implicit coercion involved in American advocacy of the Convention and Dominican acceptance of it. In fact, American forces would invade the Dominican less than one decade later. Finally, President Ramà ³n Cà ¡ceres, eventually assassinated in 1911, was unsure that he could retain power without the support of the United States which was conditional on his acceptance of the

Behavioural Finance Essay Example | Topics and Well Written Essays - 1500 words

Behavioural Finance - Essay Example The researcher states that behavioral finance examines how the human animal reacts in a financial system theoretically devoid of any emotions. This has been referred to in the past as ‘open-minded finance’ which is a generous expression implying that many investors often behave in a quite contradictory manner to the advice given them by their financial advisors. ‘Proponents of behavioral finance contend that people may not always be â€Å"rational,† but they are always â€Å"human.† Thus, behavioral finance exposes the irrationality of investors in general and shows human fallibility in competitive markets.’ To many, the idea of market efficiency itself goes out the window when the concept of human behavioral finance comes in. The experience of the stock market bubble has given impetus to the theory of behavioral finance, which places greater emphasis on human motivation and market inefficiency. Yet investment bankers and business people appear to put ever greater faith in the verdict of the stock market when making judgments that can have a big impact on output and employment. One of the major contributors over the past several decades to the amount of influence individual investor behavior has on the marketplace is the plethora of information and investment resources that are now available to the individual through access to the internet as well as the constant barrage of financial pundits in the various media channels. Stocks can also be traded instantaneously (via e-trade and the like) by individuals who may have little or no real insight into what they are playing at and may send a knee-jerk reaction that if analyzed more circumspectly they may have avoided. The rise of the Internet dramatically changed the way people make investment decisions†¦ For example, the Internet fosters active involvement by providing the medium for investment chat rooms, message boards, and newsgroups. Millions of people started invest ing online over the past several years. In the late 1990s and early 2000, a tremendous surge occurred in investor trading†¦ If this online investing behavior magnifies the investor's biases, then trading patterns in those accounts that are consistent with the behavioral predictions †¦ should surface. For example, online traders should exhibit signs of overconfidence, such as more frequent trading.

Application of concept analysis to clinical practice Essay

Application of concept analysis to clinical practice - Essay Example The concept applied in clinical practice is confidentiality. It is an essential element in clinical practice because all aspects of participation of the patient and medical practitioner revolve around confidentiality and consent.The medical practitioner is responsible for ensuring that all medical records are kept in a confidential manner. The reliability of information and data is an important keystone to good medical practices. In most cases, patients are content with undergoing clinical tests as long as they can entrust confidential information and data to medical professionals. The distinguishing feature of clinical practice is that most of the information affects patients and their family members (Pinch, 2000). Therefore, the principles of data protection and confidentiality are crucial in the provision of services within the healthcare sector. This also gives the patient assurance that the clinical practitioner can reassure privacy. It is vital to note that this is not always a ssured in the clinical context where results of a clinical test may provide information about the patient and their family members. For instance in genetics, the results of a clinical test provides information about the patient and his family members. As the scope of clinical trials and practice increases, it is paramount for the clinical practitioner to ensure that information is managed in a proper manner. The management of clinical information may present challenges to healthcare professional and patients. Patients expect clinical professionals to access their medical information, and use their clinical experience and expertise to interpret the information and data in order to provide appropriate medical advice (Brown & Stobart, 2008). The information used in the clinical context may be private and personal. Intrusion into patient privacy is generally justified by the assumption that the patient has authorized access to the information (Pinch, 2000). The information obtained may generate inferences to other family members. The views of the other family members may be unknown. Additionally, they may disapprove access to such information. This means that the information is generated in confidential circumstances to one individual, but it is significant to other people. Clinical practice may want to use this data and information to help the patient and other people involved. However, clinical practice is unsure whether it is acceptable within the precincts of confidentiality and data protection. Method of Analysis In this case, the authors of the article examine confidentiality from a theoretical perspective. The article uses concept analysis and clinical based empirical investigations. A review of literature and clinical practices defines consequences, attributes, antecedents and empirical references (Pinch, 2000). The article relied on the themes from the definitions of confidentiality. These were provided by participants in various projects within the scope of genetics and HIV/AIDS. The method of analysis provides updated guidance on the issues of confidentiality and consent in clinical practice. The method focused on clinical professionals. The methods were resultant features of proposals that focused on the use of clinical tests, trials and results (Pinch, 2000). The method also recognized that the issue of confidentiality in clinical practice was becoming relevant. Most importantly, the article introduced the principles of confidentiality and consent in clinical practice. This was expanded using clinical cases and illustrations. Steps of the Process The steps for ensuring confidentiality in clinical practice are based on the code of standards of conduct, ethics and performance for midwives and nurses. According to such codes, clinical practice must respect the rights of people to confidentiality. Clinical professionals must also ensure that people are informed about clinical process (Pinch,

Contract Law-Commercial Purpose assignment Case Study

Contract Law-Commercial Purpose assignment - Case Study Example Who is responsible for the payment of the crew of the Boat Is it included in the charges negotiated with Mary Who will decide on the correctness of the amount payable to the crew Will Nile's concurrence be obtained for the charges payable to crew (This is important as this will affect the net earnings from the whole venture) Whether the boat will be made seaworthy by completing the defouling and painting the hull before the cruises start Who will pay for the charges for such defouling and painting Has it been agreed that "the boat will be made seaworthy by the owner before the cruises start" will form part of the contract Has the boat been insured If so what are the obligations of the insurer Till what date the insurance is valid Does the insurance cover the third party claims in case of accidents If currently there is no insurance, who will pay for the insurance coverage Has Mary a right to rescind the contract If so what are the terms (Notice period requirements, compensation for premature terminations are to be decided, as the tickets for such cruises will be sold in advance by Mr. John Nile and any unexpected withdrawal by Mary from the contract will put Mr. Nile into difficulties of facing the claims of the proposed passengers.) Has it been made known to Mary that pursuant to entering into a contract for the charter of t... Nile into difficulties of facing the claims of the proposed passengers.) Has it been made known to Mary that pursuant to entering into a contract for the charter of the boat, she will become binding for all legal obligations arising out of the contract whether expressed in the contract or implied by common usage in the charter of boats for cruises commercially 3. What are the rights and obligations of Mr. John Nile under the proposed arrangement Has Mr. Nile ensured that the boat is capable of carrying 40 passengers ( Since his commercial calculations are based on this assumption it is important that this point should be cleared) Can Mary produce a certificate to the effect that the boat can carry 40 passengers at a time In case if a certificate cannot be produced, is she agreeing for the legal consequences of the boat being capsized due to overweight of the passengers Is she aware of this eventuality Does Mary have a say in the fixation of the charges for the passenger fares for the cruises Does it need to form part of the contract while specifying the consideration payable to Mary What is the agreement relating to the provision of other amenities in the boat other than food and wine For Example provision of clean toilet facilities, provision for the clean maintenance of the deck and the retiring rooms- whose responsibility is this Who will bear the cost of the maintenance materials and maintenance crew Has this been included in the costs payable to Mary Has Mr. Nile discussed with Mary or her son about his withdrawing from the contact, in case he is not able to mobilize enough passengers to carry out the venture If not what are his ideas on this (The contract should mention a notice period and penal clauses for both the parties in case the