Intention of Life Interest

Goal of Life Interest 1. (a) The existence enthusiasm of Parwinder which on a superficial level seems, by all accounts, to be a vested, quick and constrained intrigue is combined with a leftover portion enthusiasm for their little girls. In this case, there is an issue with conviction of expectation. Albeit specialized words are not necessary,[1] issues emerge when precatory words, for example, ‘in full confidence’ and ‘will respect’ are utilized in this arrangement. The wording of this arrangement is fundamentally the same as the wording of another arrangement including in Comiskey[2] which expressed â€Å"in full certainty that †¦ at her demise she will devise it†¦Ã¢â‚¬  between nieces as â€Å"she may see fit.† Therefore, following this judgment all things considered, the courts would translate from her words a goal to leave her domain to her better half with a blessing over of the rest of the property to be shared between her little girls as per his will and in any case similarly. Nonetheless, if the court concludes that goal can't be gotten from this arrangement, Parwinder will take the property advantageously and there is a subsequent trust.[3] In this case Parwinder will be named trustee of the home consequently, he can be constrained to do the trust. Ought to Parwinder become unfit to allot offers to his little girls the court will work as trustee and appropriate the home if all surenesses are seen as substantial. On the off chance that Parwinder is held to be a trustee, he should do the dissemination of the home as a trust is compulsory. Accordingly, he should cause an arrangement in his will to dispensing the dissemination of the domain or, more than likely he should make an express trust ensuring he incorporates legitimate assurances and follows the recipient standard entomb vivos. This arrangement may likewise establish a trust related to an intensity of arrangement. As indicated by Hanbury Martin, when a spouse gives his bequest to his â€Å"widow for her life, and after her demise to their children† yet permits the wife to choose the offers for every kid it is a legitimate capacity to â€Å"appoint utilizing her total circumspection with a blessing in default of equivalent offers â€Å"[4] Therefore, an uncommon force exists whereby Parwinder must circulate the home to a predetermined gathering of appointees[5] be that as it may, he is under no commitment to complete his obligation or even consider it as an obligation.[6] (b) Right off the bat, this arrangement may fall flat for absence of sureness of topic in that the size of each useful intrigue isn't explicitly declared.[7] However, the court may verify that the settlor has given a compelling technique for deciding the size of the blessing hence; the court will apply its suspicion so as to keep the blessing from failing.[8] Should the courts be not able to decide any assurance of size of the valuable intrigue the arrangement will turn into a subsequent trust for the settlor’s home. Expecting the offer size might be dictated by certain methods, no doubt  £200,000 has been made over into a trust held by the trustees of the domain. In any case, the commitment to disperse the cash to the initial 100 candidates must be explained as an optional trust or an intensity of arrangement. As indicated by Hanbury Martin apparently the trustees who hold a trust to serve â€Å"such individuals from a class of recipients as the trustees will in their supreme attentiveness select†[9], are in truth the trustees of an optional trust. The principal prerequisite would then be to find out if there is assurance of articles utilizing the test empowered by the House of Lords, the Given Postulant Test.[10] The test requires the trustees to ask â€Å"Can it be said with sureness that any given individual is or isn't an individual from the class?†[11] Utilizing this test it is legitimate to state that any postulant who has written in light of the ad in the Oxford Gazette and who have made an ethical case for an offer should be viewed as an individual from the class of recipients. A slight issue emerges if in light of the commercial the next day 100+ letters are gotten making it inconceivable for the trustees to figure out who the initial 100 recipients are as is unmistakably mentioned in the arrangement. This would bring about regulatory unworkability and the trust would get void and return to the settlor’s home. (c) The wording of the arrangement would be understood to force a guardian obligation on the trustees and consequently, produce an express trust. This is because of all convictions being extremely express and clear. In spite of the fact that Charles is in a state of unconsciousness and improbable to recuperate, the trustees are as yet bound under the details of the trust to circulate property to Charles as indicated by the revelation of trust. By and large, the trustees are under a general obligation to act impartially and â€Å"maintain equity between the beneficiaries†[12] particularly with regards to progressive interests. The trustees despite everything keep up the legitimate title of the vehicles and Charles and the Oxford Motor Museum appreciate simply an impartial and useful intrigue. In this way, it is feasible for the Trustees to keep up the lawful title to the vehicles and give the whole assortment of vehicles to the Museum on trust as they won't naturally procure the lawful title to the vehicles. Should Charles kick the bucket his evenhanded enthusiasm for one of the vehicles will succeed him and become some portion of his bequest, be that as it may, if he somehow managed to recuperate he would at present have a fair enthusiasm for one of the vehicles which he could then exploit. When he or a recipient of his domain has picked a vehicle the lawful title of the vehicle will be moved to them through the suitable method and the trustee’s obligation to Charles will be satisfied and the trust will end. The trustees will at that point hold the rest of the vehicles on trust for the Museum. The last choice accessible to the trustees is to make an application to the Court for Directions. As Charles is as yet living, he has a sincere case on one of the vintage vehicles; in this manner, if the trustees apply to the Court for heading and follow any ensuing bearings of the court they will be protected.[13] This procedure has become effective to permit challenges in organization of the trust to be heard by the Court and ease the â€Å"risk of settling on choices upon a bogus premise.†[14] 2. One of the primary issues in the current law encompassing interests in the family home is concerning the occasionally obsolete nature of the law in regard to the more level field that man and lady presently work and bolster themselves through their vocations. Pettitt vPettitt[15] clarified that a ladies housework, childcare and commitments towards costs don't liken to commitment towards the price tag in this manner, except if the wife requests the house to be passed on to the companions together, she may discover she has no enthusiasm for the endless supply of her marriage, in any case, the option to conjure optional forces of the court to appropriate the property is as yet a choice she has upon separate. The principle issue with the current law today is the absence of legal force a court has when managing living together couples who share a family home. Couples may regularly live respectively for a considerable length of time and have kids and commonly add to the house through redesign, costs and upkeep, be that as it may, in many cases the house is enlisted to one of the people in particular. Notwithstanding, a non-legitimate co-proprietor may have a fair enthusiasm bringing about a useful trust even where a direct budgetary commitment has not been made.[16] A useful trust is another answer for this issue whereby the courts will consider commitments made to the home loan installment by each gathering, repair the house as this added to the support and fundamental upkeep. This cure becomes effective on the off chance that one gathering has â€Å"acted to his detriment† in dependence on the affirmation that he held a gainful interest.[17] Ultimately, and as a rule ideal is the cure of exclusive estoppel or when the Courts â€Å"protect the desires for the non-proprietor and may grant the non-proprietor as much as a full possession enthusiasm for the land if equity demands†[18]. The basic components of restrictive estoppel exist where the lawful proprietor of the property hosts urged a third gathering to accept that he has or will later on get rights in regard of the property and the outsider has acted in dependence of this affirmation to his detriment.[19] This is the most simply cure accessible as it will consider minor oral assertions, for example, â€Å"the house is as much yours as mine† or â€Å"we share everything 50-50† as a confirmation and the non-legitimate proprietor is probably going to be allowed an evenhanded enthusiasm for the endless supply of the family locally established on the measure of commitment made throughout the long stretches of collective living. Book index PEARCE, R AND STEVENS, J. (2002) The Law of Trusts and Equitable Obligations third Edition London: LexisNexis Butterworth’s Tolley. PENNER, J.E. (2001) Mozley and Whitley’s Law Dictionary twelfth Edition London: Butterworths. MARTIN, J.E. (2001) Hanbury Martin Modern Equity sixteenth Edition London: Sweet Maxwell Ltd. Commentaries [1] Paul v Constance [1977] 1 W.L.R. 527 [2] Comiskey v Bowring-Hanbury [1905] A.C. 84 [3] Watson v. Holland [1985] 1 All E.R. 290. [4] Martin (2001) page 173. [5] Re Gestetner [1953] Ch. 672. [6] Martin (2001) page 174 [7] Boyce v Boyce (1849) 16 Sim 476. [8] Re Golay [1965] 1 W.L.R. 969 [9] Martin (2001) page 175. [10] Re Gulbenkien’s Settlements [1970] AC 508 [11] Ibid per Lord Wilberforce [1971] AC 424 at pages 454-6. [12] Martin (2001) page 553. [13] Re Londonderry’s Settlement [1965] Ch. 918. [14] Martin (2001) page 550. [15] [1970] AC 777. [16] Lloyds Bank v Rossett [1991] 1 AC 107. [17] Ibid at page 536. [18] Penner (2001), page 281. [19] Gillies v Keogh [198

Solidification Definition and Examples

Hardening Definition and Examples Hardening, otherwise called freezing, is a stage change of issue that outcomes in the creation of a strong. By and large, this happens when the temperature of a fluid is brought down underneath its the point of solidification. In spite of the fact that the point of solidification and liquefying purpose of most materials are a similar temperature, this isn't the situation for all substances, so the point of solidification and dissolving point are not really compatible terms. For instance, agar (a compound utilized in food and the laboratory)â melts at 85 C (185 F) yet sets from 31 C to 40 C (89.6 F to 104 F). Cementing is about consistently an exothermic procedure, which means heat is discharged when a fluid changes into a strong. The main known special case to this standard is the cementing of low-temperature helium. Vitality (heat) must be added to helium-3 and helium-4 for sticking to occur. Cementing and Supercooling Under specific conditions, a fluid might be cooled beneath its the point of solidification, yet not change into a strong. This is known as supercoolingâ and it happens on the grounds that most fluids solidify to freeze. Supercooling might be promptly seen via cautiously freezing water. The marvel can happen when there is an absence of good nucleation locales from which cementing can continue. Nucleation is when atoms from sorted out groups. When nucleation happens, crystallization advances until cementing occurs. Cementing Examples A few instances of cementing might be found in regular day to day existence, including: Freezing of water to shape ice in an ice 3D shape trayFormation of snowCongealing of bacon oil as it coolsSolidification of liquefied flame waxLava solidifying into strong stone

Would I Pick Illinois Again (Senior Sentiments)

Would I Pick Illinois Again (Senior Sentiments) Hi everyone, Some of you might have your next four years here mapped out to a tee, while others are still unsure if Illinois is where you want to be. Regardless of how youre feeling, everything youre thinking of is in the future. Now that Im an old timer, I can at least share what I think about my university experience with the power of hindsight, and maybe something will resonate with you to help you make a decision. 1. People matter. I used to be a huge introvert, but Ive developed an extroverted side because you just cant do it alone. People matter so much. Family keeps you grounded, friends keep you accountable, and surrounding yourself with people who inspire and cherish you keeps you sane through what will be some of the most formative years of your life. In this sense, I would choose Illinois again without question. Its a huge school, which sounds intimidating, but it just means its that much more likely that youll be able to find your group of friends. I attend a predominantly Asian church of 1000+ members, my advertising major is predominantly white and female, and at other campus gatherings, Ive met LGBT folk, people in research, rock climbers, and so many others. A big school means you have a lot of potential for great relationships. 2. Opportunities matter, and Illinois has them. When you think of technology, you might immediately of Silicon Valley, California, and West Coast tech companies. But those arent the only places where innovation is happening. Champaign-Urbana has many leading tech companies because of the resources at Illinois  and lower living costs of the area. With one of the highest international populations, Illinois  also has a diverse and worldwide alumni network that you can connect to for learning, mentorship, and jobs. There are some lectures that still put me to sleep and I can complain about how a lot of classes seem pointless, but ultimately I had what I needed here to start building a life and a career. Research Park. Source: researchpark.illinois.edu 3. But U of I is expensive. Truthfully, U of I is expensive,  even for in-state residents. But there are many scholarships available for students. For example, my friend worked throughout her undergrad and was also  part of the I-Promise program, and despite being from a lower-income family, she was able to graduate with $0 debt or loans. Another benefit of Illinois huge alumni network is that it means there are many people in the working world who are happy to donate and give back to fund your education through such scholarships. There are ways to manage money; you just have to be diligent about finding them out. 4. But James, what do you do for fun? Volleyball. Rock climbing. Pumpkin picking. Cider drinking. Star watching. Barn dancing. Restaurant hopping. Movie watching. Arts enjoying. OK, so some of  these are pretty farm-esque for those worried about being in the middle of the cornfields. But the point is, there is a lot of stuff to do. And as long as youre with people you love, it hardly matters what you do. Most of the time youll be studying, pulling shenanigans for free in the residence halls, or just enjoying the huge campus: So would I pick Illinois again? Absolutely. For me, I dont think I could have seen it another way because of the lifelong friends Ive established and the opportunities Ive had. Illinois  is special because no one expects there to be such a hub of life  in the middle of nowhere. But Champaign-Urbana is growing. Will you choose to partake in whats buzzing  here at Illinois? Good luck, and go with your gut. There are no wrong choices, only right onesâ€"as long as you go in with a bit of courage and zeal, youll be a better you by the end of four years, and thats all anyone could want. ?? James Class of 2016 I’m an Advertising major also pursuing a minor in Anthropology. I’m heavily involved with the American Advertising Federation on campus. I'm from Naperville, Illinois.

Sex Education And Gender Education - 949 Words

The study conducted by Grossman, Tracy, Charmaraman, Ceder, and Erkut (2014) had two main goals revolving sex education. The first goal was to examine whether the program created by the Planned Parenthood League of Massachusetts, Get Real: Comprehensive Sex Education That Works (as cited in Grossman, Tracy, Charmaraman, Ceder, Erkut, 2014), can delay vaginal sex in middle schoolers. The second goal was to see if family involvement can help delay sex. They believe their goals are important since beginning sex education before adolescents are having sex is critical in order to successfully risky sexual behavior. According to the researchers, studies conducted with sex education programs in middle school have shown mixed findings on its effectives on delaying sex. While some studies have shown that programs have no effect, others have shown that its effectiveness varies on boys and girls. One study has shown that sex education programs delay in sex in girls and not boys, and another h as shown the opposite results. The researchers noticed that the sex education programs in these studies did not include a family component, and believe that family members are an important factor in delaying sex. The study followed a total of 2453 sixth grade students from Boston, Massachusetts for three years as they completed middle school. The students were selected from 24 middle schools, consisting of 13 public schools, 9 charter schools, and 2 private schools. The study started off withShow MoreRelatedSingle Sex Education : Single Gender Education1458 Words   |  6 PagesSingle-gender education has become more and more popular in the last few years. There are many people and organizations who like the idea and would like to continue it and other organizations that think single-sex education could make our school systems revert back to a time with gender inequalities. Single sex education breaks down gender stereotypes and in many cases limits distractions for a student in a classroom especially in a student’s teenage years. Opponents to single-gender education claimRead MoreGender Representation Of Sex Education1651 Words   |  7 Pagesencouraging images of females. Education of male-on- female violence should start in early childhood right alongside the curriculum of sex education. Perhaps the foremost important issues of gender partiality are the importance of protecting young girls. Schools nationwide provide curriculum of sex education, which should include male-on-female violence to create social awareness of the issue. Sex education in early child hood is used to deter the children from having unprotected sex. This was used as a methodRead MoreSex Education : Encyclopedia Of Gender And Society946 Words   |  4 PagesConnell, Erin. Sex Education. Encyclopedia of Gender and Society. Ed. Jodi O Brien. Vol. 2. Thousand Oaks, CA: SAGE Publications, 2009. 745-748. Gale Virtual Reference Library. Web. 30 Sept. 2015. This article has a really good explanation and a history behind. Sex education began during the 19th and early 20th centuries. This type of education debate or reveals a range of attitudes, values and also belief about the children, adolescent, sexuality, and gender. During WWI soldiers were infectedRead MoreThe Inequality Within Education With Sex And Gender1850 Words   |  8 Pagesthe inequality in education that is present in our society in accordance with sex and gender. In recent years, females have been outperforming males in all subject areas. The term sex refers to the biological characteristics of a person’s body that makes them either male or female while gender refers to someone being masculine or feminine. (Stoller 1968, p.9) This essay will demonstrate why males are underachieving in the education system looking at it in terms of gender and sex differences and howRead MoreSingle-Sex Education : Is One Gender Enough?1304 Words   |  6 PagesIs One Gender Enoug h? Introduction: In 1999, Jefferson Leadership Academies was named the first public middle school in the U.S. to offer an environment fully dedicated to single-gender instruction (Niche). This organization became a milestone for single-sex education and brought attention to the fact that separating genders is beneficial in more ways than one. Our country is known for its prestigious learning system and the endless opportunities provided for its citizens. Immigrants continue toRead MoreEducation: Gender and Single-sex School Works1256 Words   |  6 PagesSingle-Sex Schools A time comes in every young teen s life when he or she must decide where to attend high school. As they examine which high school they want to go to, one of the factors they may come across is whether to go to a single-sex school or a co-educational school. While co-ed schools allow students to develop socially, single-sex schools have the advantage in academic success. Single-sex schools provide a conducive learning environment for students, allow teachers to teach accordingRead More Sex Roles and Gender Bias in Early Childhood Education Essay example2173 Words   |  9 Pages Sex role stereotyping and gender bias permeate everyday life. Children learn about sex roles very early in their lives, probably before they are 18 months old, certainly long before they enter school.(Howe, 1). The behaviors that form these sex roles often go unnoticed but their effect is immeasurable. Simple behaviors like: the color coding of infants (blue pink), the toys children are given, the adjec tives used to describe infants (boys: handsome, big, strong; girls: sweet, pretty, precious)Read Moreme me931 Words   |  4 Pagesï » ¿ No such thing as â€Å"Separate but Equal† in Education One of the most common question for parents when it comes to choosing high schools or college for their child is â€Å"Should girls and boys be taught separately, either in different classes or entirely differently schools, to improve their educational performances, or is such an approach a throwback to a teaching method that was discredited years ago† (Update: Single-Sex Education). In the past, it was more common for boys and girls to be educatedRead MoreInfanticide And Single Sex Education1284 Words   |  6 PagesCoeducation and single-sex education are both extensively used around the world. By the 1980s, more and more schools which only severed male or female became coed. Even though, many parents still send their kids to only men school or only women school now days. Then why would some people choose a only men or only women school? Is it against the â€Å"gender equality†? In the early civilizations, education was informally and it was primarily households. As time passed, people began to get educated moreRead MoreSingle Sex Education Essay964 Words   |  4 Pages Single-sex classrooms and schools are used in education all around the world. As a student who has never attended a single-sex school or classroom, I have always been curious to know how beneficial it really is. The controversy over single-sex classrooms and/or schools is an ongoing battle between educators, school systems, and the community. Those who support the idea of single-sex education argue that the separation of boys and girls due to biological differences can improve academic achievement

Capital Punishment The Death Penalty - 1868 Words

An issue that has been widely debated for several years in the United States, and even throughout the whole world is capital punishment. Capital punishment is of course punishment by death after committing a capital crime or a capital offence. The word capital comes from the Latin capitalis, which means â€Å"regarding the head†, which is referring to beheading. The debate about capital punishment is whether or not is moral to punish someone with death after a crime they committed. Many view that those who commit capital crimes should be killed, as it is justice for the capital crime/crimes they have committed. Other believes that no crime is heinous to warrant execution of the committer of the crime. This question has been debated across the world for years, and has recently become a more pressing issue as now there are more humane ways of execution and people value human life more than in the past. Many already know how Americans and Europeans feel about capital punishment , however, how did old Eastern Philosophy feel about the death penalty? How does current Eastern Philosophy feel about the death penalty? Before these questions are answered, first more must be known about the history of capital punishment. The first death penalty laws go back as far as Eighteenth Century B.C. King Hammurabi of Babylon’s code had death penalty for 25 different crimes. The death penalty was also in Fourteenth Century B.C. Hittite Code, and in Seventh Century B.C.’s Roman Law of the TwelveShow MoreRelatedCapital Punishment : The Death Penalty1482 Words   |  6 PagesMrs. McElmoyl 12/12/14 Capital Punishment As stated by former governor of New York, Mario M. Cuomo, Always I have concluded the death penalty is wrong because it lowers us all; it is a surrender to the worst that is in us; it uses a power- the official power to kill by execution- that has never brought back a life, need inspired anything but hate. (Cuomo 1) This is one of the main arguments against capital punishment (also known as the death sentence.) Capital punishment is the ability for a governmentRead MoreThe Death Penalty And Capital Punishment931 Words   |  4 Pageswritten down (Robert). The death penalty was applied for a particularly wide range of crimes. The Romans also used death penalty for a wide range of offenses. Historically, the death sentence was often handled with torture, and executions, except that it was done in public. In this century, the death penalty, execution or capital punishment, whatever you’d like to refer it as, is the result for committing capital crimes or capital offences and it is not in public. The death penalty has been practiced byRead MoreCapital Punishment : The Death Penalty1410 Words   |  6 PagesCapital Punishment in America In 1976 the Supreme Court of the United States of America ruled the Death Penalty constitutionally permissible. The debate over capital punishment has always been a topic of great controversy. Before the Supreme Court ruling in 1976 America had been practicing capital punishment for centuries. At the current time some states enforce the death penalty, while some do not. There are differences of opinion’s relating to whether or not the death penalty is the proper wayRead MoreCapital Punishment And The Death Penalty991 Words   |  4 PagesCapital Punishment Imagine your having a normal morning, eating breakfast doing your normal routine. Suddenly your phone rings and when you answer you hear the worst news possible. One of your family members has just been murdered in cold blood. You cry, mourn, then become angry. You attend the court hearing and you sit less than 20 feet away from the murderer. Do you truly believe this person deserves to live? Or should they face a punishment that is equal to their crime? Some may say CapitalRead MoreThe Death Penalty And Capital Punishment1569 Words   |  7 Pagesthe death penalty also referred to as capital punishment. The death penalty is both useless and harmful to not only criminals but also their potential victims. This paper uses these horrific facts to try and convince the reader that the death penalty should be done away with before it is too late, although that time may have already come. With supporting evidence to support my cause, I hope that the following information sways at least one reader to see the harm of keeping the death penalty an activeRead MoreCapital Punishment And The Death Penalty1235 Words   |  5 PagesWhat is capital punishment? Why do people support it, but yet people cherish lives? Is it a moral thing to do? Should one be for or against the Death Penalty? Let’s take a look deep into the world of justices and why capital punishment still exists in today’s society. Capital punishment or the death penalty is a feder al punishment given to criminals who are convicted of murders. It is the highest law punishment available that can prevent future murders by developing fear within them. Capital punishmentRead MoreCapital Punishment And The Death Penalty1017 Words   |  5 PagesName: Lucas Falley Topic: Capital Punishment Background: Capital punishment, or the death penalty, has existed for thousands of years. For as long as there has been organized society, the death penalty has existed in numerous cultures and civilizations. Throughout the years the methods have changed, but the use of capital punishment is becoming a pressing matter. Amnesty International reports that there are 140 countries worldwide that have abolished the death penalty, while over 50 countries stillRead MoreThe Death Penalty Is A Capital Punishment1271 Words   |  6 Pages What is the death penalty? The death penalty is a capital punishment that is punishable by death or execution. This is usually given to people that have committed serious offences or capital crimes. There are 31 states in the United States that are for the death penalty. Crimes that are punishable by the death penalty, vary from state to state. Examples of such crimes are; first degree murder or premeditated murder, murder with special circumstances, such as: intende d, multiple, and murder whichRead MoreCapital Punishment And The Death Penalty1539 Words   |  7 PagesCapital punishment, otherwise known as the death penalty, has been the center of debate for a long time. Capital punishment may be defined as the â€Å"[e]xecution of an offender sentenced to death after conviction by a court of law of a criminal offense† (Capital Punishment). Up until 1846, when Michigan became the first to abolish the death sentence, all states allowed legal practice of capital punishment by the government (States). Currently, there 32 states still supporting the death penalty and 18Read MoreThe Death Penalty Of Capital Punishment1480 Words   |  6 Pagesjustice system, such as the death penalty. Capital punishment has been used many times in history all around the world, and it was quite popular. Many people argue that capital punishment is useful in deterring crime and that it is only fair that criminals receive death as punishment for a heinous crim e. On the contrary, others see the death penalty as a violation of the 8th amendment. It restricts excessive fines, and it also does not allow cruel and unusual punishment to be inflicted upon criminals

Details of Buying a Term Paper

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Earnings Management During Import Relief Investigations free essay sample

Earnings Management During Import Relief Investigations† was written by Jennifer J. Jones. It illustrates her study and examination of the effects of managing reported earnings to alleviate the costs of tariffs and quota increases on import businesses. The ITC or (United States International Trade Commission) conducts relief investigations on companies that import goods so they can make a determination on the import relief rate. The ITC sets the import relief after reviewing a plethora of factors. Some factors include the profitability of the industry and the trends in profitability. Import relief is described as a set of federally imposed regulations which are designated to suspend or restrict the importation of goods into the country in order to protect American manufacturers. The measures often include subsidies, restriction, and assistance to domestic companies. The author describes the reasoning behind the import relief, as well as the effects of the import relief on the affected parties. Because consumers have diverse interests the effects of the import relief has not been studied in great detail. Often contractors who share a relation to the import business carefully monitor and adjust the accounting numbers to influence the policy makers into not raising the import relief rate. The author says that import relief is basically a wealth transfer from the consumer to the domestic producers because the importers will simply raise prices as the import relief gets higher, and domestic producers will make money because their prices can be highly competitive with the importers. In this exchange the ultimate losers are the consumers who will either pay a higher price for imported goods or buy domestic products which generally cost more. Because consumers do not monitor the earnings of import companies the import companies are able to manipulate earnings nearly unhindered. This manipulation of accounting numbers to influence import relief benefits importers and costs the consumers. Because the ITC is looking out for the domestic producers, importers are in a way forced to manipulate their reported earnings to maintain profits. The import companies really don’t lose much when the import relief goes up. The cost of importing goods to the United States and paying the import relief is most often cheaper than manufacturing goods in the United States. The ITC looks at a company’s earnings before taxes. To circumvent the ITC the managers of import companies often use multiple accrual accounts. By playing somewhat of a shell game with the ITC the import companies are able to hide assets or shift them to the next quarter to show a lower profit margin. The author conducted a cross sectional investigation of the accrual accounts of import companies. Her investigation revealed that the import companies suddenly report lower earnings and income just before the investigation period. The obvious concern of the import industry is illustrated by the drastic counter measures put in place by the managers of import companies. The methodology of the ITC is effective at protecting domestic producers and the American economy but it puts import companies in a difficult situation. When presented by the moral dilemma of altering reported income import companies must make a decision which in the minds of many theorists is not a decision at all. Because businesses are driven by profits and managers are paid by the shareholders to protect the best interest of the company they are forced to alter reported earnings. Because the import companies show lower earnings just before the reporting period that is disproportionate to their earnings through the year it is clear that the import companies are circumventing larger import relief rates by manipulating earnings just before the ITC investigation period. The managers of the import companies are responsible for the manipulation of accounting numbers. It is only natural for managers to protect the interest of the company. However, many consider the manipulation of accounting numbers to influence the import relief to be unethical. On the other hand many theorists believe that the import relief is an unfair tariff on import companies. Politics play a major role in the creation of the import relief. Some theorist claim that politicians who are influenced by large companies can affect the decision making process of the ITC investigation. Because the import relief is based on many different factors the manipulation of reported income could possibly be an unnecessary. In addition, accountants who engage in the manipulation of earnings can face legal penalties for falsifying accounting numbers. The SEC should investigate the accounting books of import companies to discover falsifications before they can affect ITC’s investigation and decision. It is not addressed why auditors do not report earnings manipulations. It is possible that because of the adverse relationship by companies and their audit firms it is possible that the manipulations are discovered and hidden. The author conducted her study of five import industries. She studied the auto industry, carbon steel industry, stainless steel industry, copper industry, and footwear industry. Based on her calculations the reported earnings of the different industries would remain constant with the earnings trend of the rest of the year. The author also studied the earnings of 459 other firms who were excluded from the ITC’s investigation to determine if in the period of the investigation their reported earnings decreased also. Her empirical testing of the firms accruals showed that the firms that were excluded from the investigation showed statistically consistent reported earnings during the investigation period. The author’s theory of earnings management during import relief investigations shows parallels to the political cost hypothesis. Although her study was sufficient in proving her point the author acknowledges that her study was not conducted on a broad enough sample. However, Jones’s study of earnings management during import relief investigations is a valuable example for future reference regarding ITC financial investigations. The author created an equation to discover the trend of reported earnings and what the reported earnings should be for the investigation period. The purpose of import relief is to protect domestic companies because foreign manufacturing is dramatically cheaper than domestic manufacturing companies. To maintain competitiveness between domestic and foreign producers and protect American businesses the ITC regulates the import relief. Because the import relief is decided by the ITC based on many different factors so manipulating reported earnings will not be enough to completely skew the ITC’s decision. The plethora of factors that the ITC uses to create the import relief are used because the ITC is afraid of making the import relief unfair to any party so it uses multiple methods of determination. The ITC utilizes policies to ensure fair trade and importing. The ITC protects from imports being sold at less than fair value which the ITC calls dumping. The ITC uses investigations and statutes to regulate dumping; they call these policies anti- dumping. The ITC also protects against companies benefitting from foreign subsidiaries by conducting countervailing duties. The author states that the import relief can be simplified as a transfer of wealth from the consumers â€Å"losers† to the domestic producers â€Å"winners†. It is often considered to be unfair. The import relief protects the American economy by protecting the market from being flooded with cheap imported products. If the market is flooded by cheap imported products many domestic companies will be put out of business due to a rapid drop in sales. The ITC tries to level the playing field with the import relief. American businesses fail to remain cheap and competitive with the foreign producers because in foreign countries there are no federal regulatory powers making regulations that cost business time and money. In addition, foreign countries usually don’t contend with labor unions that demand higher employee salaries and limits on performance demands. In conclusion, â€Å"Earnings Management During Import Relief Investigations† by Jennifer J. Jones is a valuable reference to the import industries reaction to ITC investigations. It presents her study into import relief investigations which should be a read by all individuals seeking knowledge about accounting, finances, and the import industry. Many theorists believe import relief to be controversial. The import relief must be beneficial to American business as it forces importers to manipulate reported earnings just to circumvent higher import relief. Import relief is a factor that weighs into international business and will remain an issue of concern for accountants and business practitioners alike.