Ismlamic banking theory verses practice. Case study of Iran Pakistan Essay

Ismlamic banking hypothesis stanzas practice. Contextual investigation of Iran Pakistan and UK - Essay Example A portion of the Quranic refrains (Yusuf Ali, 2000) with respect to these perspectives have been referenced underneath to expound the need and terrorizing towards the Islamic monetary framework. â€Å"To those of powerless understanding make not over your property, which God hath made a methods for help for you.†¦?† (Yusuf Ali, 4:5, 2000). Private possession is insisted, yet in addition, saw as a trust, â€Å"Believe in God and His Apostle, and spend (in good cause) out of the substance whereof He has made you Heirs†¦Ã¢â‚¬  (Yusuf Ali, 57:7, 2000). Islam urges endeavor or endeavors to make riches, which is described as God’s abundance, â€Å"And when the Prayer is done, at that point may ye scatter through the land and look for the Bounty of God†¦Ã¢â‚¬  (Yusuf Ali, 62:10, 2000). Muslims are committed to satisfy agreements and stay faithful to their obligations, â€Å"O ye who accept! Satisfy all obligations....† (Yusuf Ali, 5:1, 2000). â€Å"†¦And satisfy (each) commitment, for (each) commitment will be enquired into (on the Day of Reckoning)†¦Ã¢â‚¬  (Yusuf Ali, 17:34, 2000). All trade ought to be made with the willing assent of the gatherings concerned, â€Å"O ye who accept! Eat up not your property among yourselves in vanities: however let there be among you traffic and exchange by common great will.†¦Ã¢â‚¬  (Yusuf Ali, 4:29, 2000). The utilization of riches and the activity of the opportunity of big business are compelled by the commitment not to hurt others, yet this must likewise be found in the point of view of the positive commitment to think about others and offer with them (Siddiqi, pp. 11-19, 2001). This is represented by the notable obligation to pay the zakat or poor duty. In any case, that isn't all: the significant thing is the soul of agreeable, accommodating conduct as ordered by the Islamic perspective on life as a test, â€Å"He who made Death and Life, that He may attempt whi ch of you is best in deed† (Yusuf Ali, 67:2, 2000). These writings from the Quran (Yusuf Ali, pp. 1-576, 2000) are the significant wellsprings of direction for all the frameworks that Muslims

10 ways to improve efficiency as a recruiter to get ahead

10 different ways to improve productivity as a scout to excel Consideration scouts as the people who are at the cutting edges for guaranteeing that organizations and associations are set up with the best and most brilliant representatives accessible, your employments are basic to their success.LinkedIn distributed an article that gave convincing reasons why selection representatives today are vital to associations: â€Å"Now, in today’s financial condition and marketplace,â recruiters are a higher priority than at any other time, particularly for those organizations that can discover and make sure about the administrations of an accomplished pursuit firm with a broad reputation of success.† The writer reasons that whiz up-and-comers can be hard to track down and court, as they for the most part get numerous proposals from top-level associations and regularly should be charmed and appropriately enlisted so as to get them to truly consider joining an organization.The Balance as of late discharged an article that features tips for g uaranteeing that enrollment specialists play out their jobs as viably as conceivable utilize these tips to augment your productivity and success.1. Improve your applicant pool.A better ability pool will carry better ability to your association. So as to ensure you’re scanning for the best potential applicants paying little mind to the position you’re recruiting for, ensure you do the accompanying: contribute time to produce associations with school and college vocation situation workplaces and official hunt firms, utilize proficient affiliation assets and system at proficient industry occasions, look out for solid potential up-and-comers on online employment loads up, and exploit accessible assets on LinkedIn and other online internet based life outlets.2. Recruit the sure thing.As an enrollment specialist you need to heed your gut feelings. Untested new potential ability that catches your eye could be a brilliant bet, yet it is a hazard would you like to risked your n otoriety for a move of the bones? At the point when you go over genuine ability with a demonstrated reputation, foundation, and range of abilities you’ll know it, and these are the sorts of people you ought to go after.hbspt.cta.load(2785852, '9e52c197-5b5b-45e6-af34-d56403f973c5', {});3. Glance in-house first.Always work to ensure that your organization is utilizing its current staff assets to its fullest potential before searching outside for ability. Why? Since in-house up-and-comers have just been attempted and tried in some way or another and right now have a vibe for how the association works. Besides, you know how they’ll fit into the company’s culture, which is consistently a central issue mark when bringing another person on board. On this, on the off chance that you go â€Å"outside first† and existing staff gets the inclination that new open doors that emerge aren’t open to them, they may begin searching for their next huge open doors el sewhere.4. Help fabricate your company’s rep.Sure, a major an aspect of your responsibilities as a spotter is to chase for and source top ability from great distances abroad, however in the event that your organization has a rep similar to a phenomenal work environment, top ability will rush to you-production your activity a lot simpler and leaving you alone progressively viable and efficient.5. Get different workers involved.Although it’s significant for any selection representative worth their check to have a broad system of contacts and expert insiders in the business they’re recruiting for, on the off chance that you use the systems and contacts of individual workers your universe will grow exponentially-freeing you up to a universe of new and conceivably important candidates.6. Offer more.This one appears glaringly evident, however it bears rehashing on the grounds that it’s such a center precept of human conduct and enrollment brain research. On the off chance that you need to draw top ability in any industry, you must be more than serious in regards to the compensation bundle being advertised. Make a point to keep steady over industry patterns in regards to pay, and ensure that your organization is at the leader of the pack as far as offerings.7. Utilize your advantages to your advantage.Beyond the compensation bundle, does your organization offer any extra advantages to draw in potential up-and-comers? Everything from repayment for proceeding with training to relax limits and free tidbits/suppers can help draw in top ability and influence them your way when settling on a vocation choice, and no one can really tell how significant an advantage might be to somebody who’s thinking about working at your organization so make certain to play the entirety of your advantage cards when recruiting.8. Recruit for strengths.Hiring resilient individuals may appear another conspicuous point, yet you’d be astounded by what nu mber of scouts disregard this essential reality and pursue an irregular up-and-comer who might be a positive disruptor of business as usual in their associations which could reverse discharge fabulously. What does The Balance suggest? â€Å"Hire for qualities; don’t hope to create frail zones of execution, propensities, and gifts. Expand on what is extraordinary about your new worker in the first place.†9. Take advantage of your organization website.A extraordinary site will pull in new ability to your organization, making your activity simpler. In the event that there’s a reasonable, all around planned, and easy to use vocation area with data on open openings for work, stunningly better. Any commendable potential up-and-comer will look at your company’s site likely before a meeting yet without a doubt after one. A frail or messy site won't be a check mark in the star section for competitors pondering whether to work at your company.10. Check references.E ven if you’re totally stunned by the resume of a potential up-and-comer and are anxious to get them on board as fast as could reasonably be expected, take a delay and make certain to dedicate the time expected to do a broad reference check. This is consistently time all around spent, and you may become familiar with some data about an up-and-comer that could influence your underlying decision.Bottom line: The more effectively you carry out your responsibility as a selection representative, the more your organization benefits-both for the time being and the since a long time ago run. Utilize the tips introduced here to take your enlisting endeavors to the following level. Good karma, and glad chasing!

Operation MARKET GARDEN - September 1944 Essay Example | Topics and Well Written Essays - 5750 words

Activity MARKET GARDEN - September 1944 - Essay Example With a great deal of American, Commonwealth and British soldiers positioned in London, the bound together Anglo-American order tried to discover a method for entering Germany. A portion of the Allied pioneers accepted that the section into Germany should be possible in the event that it was propelled from the south of the Europe through Italy into Germany. Be that as it may, pressures from the bombarding of London by intermittent German airforce assaults over Britain made a case for a critical activity to prevent the Germans from shelling London. General Montgomery went under extraordinary weight by the British government to look for a military intercession over the English channel to terrain Europe. The Americans who overwhelmingly dwarfed the British and Commonwealth troops had order over the joint Allied order. They didn't support the immediate attack of Germany through the northern boondocks. They bolstered an invasion through a more fragile point in the German resistance lines. With his impact and regard, Montgomery arranged an activity intended to lead the Allies to enter A german area. This prompted what became know as Operation Market Garden. In the activity, the Allied powers were to hold onto a progression of key positions like extensions and cause various Allied soldiers to parachute behind foe lines to prompt entrance. The arrangement of the activity was to break the Nazi outskirts and free the remainder of Europe by December 1944. Notwithstanding, because of huge scope operational disappointments and the solid and productive control of the outskirts by the Nazis, the activity neglected to live to desire and it the Allies had to utilize an alternate methodology a while later1. Be that as it may, the activity accompanied such a significant number of significant exercises that are pertinent to present day military fighting. It very well may be applied to various circumstances and can be utilized to plot a few speculative cases. The way that there are various methodologies and frameworks to the Operation Market Garden implies that it could be assessed and

How to Identify the Best Essay Writing Samples

How to Identify the Best Essay Writing SamplesThe best essay writing samples are so good because of their dedication to excellence. They are so good because they have come up with a new design every time a new material comes up. Yes, every material comes up in the subject of the essay writing samples. Every essay writing samples to come up with a new design every time there is a new issue of writing presented.If you want to make sure that you get the best essay writing samples, you need to learn how to identify the new material. You should always keep an eye out for new ideas that come up and when you get to identify these new ideas, you should make use of the appropriate essay writing samples to use in order to make use of these new ideas. This way, you would not be able to limit your usage of essay writing samples. The best essay writing samples are those which help you come up with the most efficient essay writing ideas.There are cases in which the new material presented by the es says is so good that it totally changes the way you want to write your essays. This is the case of a change in topic, the change in topic can produce the best possible essay. You need to examine this new topic carefully in order to come up with the best possible solution for this topic.In some cases, when you identify the new material and put them in a good perspective, it will help you bring about the changes in problem areas in your essays. This is the case of your addressing a certain issue in a more comprehensive way.There are also cases in which the new material is provided with different time intervals. This is a case where you have the idea of assigning them with specific period of time so that the reader could understand that. You could assign them to certain times so that they would relate with the content as soon as possible. The best essay writing samples can give you this opportunity.There are also some essays writing samples which include the opinion of the reader on th e subject, this is a case where you have to use essay writing samples in order to derive some new ideas on the topic. You can use the essay writing samples to give your opinion on the topic and provide the reader with the option of changing their opinion on the subject. The best essay writing samples can help you decide on the best possible solution to the topic.The best essay writing samples can also come up with the best solutions to the subject. It is very important that you study the essay writing samples carefully so that you can identify the new materials that can help you come up with the best possible solutions.

Essay on Henry A. Murray Personology - 1888 Words

Henry A. Murray: Personology nbsp;nbsp;nbsp;nbsp;nbsp;Personology is the science of people. It is used to interpret and organize the lives of humans. The central ideas of the science must be to â€Å"understanding of what we mean by the concept â€Å"person,† and for development of methods of understanding the lives of persons as the â€Å"long unit for psychology†Ã¢â‚¬  (Barresi amp; Juckes 1988 pg 1). It is important to take accounts when studying personology from first person perspective instead of a third person perspective. Henry A. Murray believed that personality psychology had to deal with the life course of person and came up with the word â€Å"personology† (Barresi amp; Juckes 1988). He developed the phrase because he felt that personality†¦show more content†¦The test calls for the participant to look at a series of pictures involving one or more humans in ambiguous scenes and create a narrative in response to the picture. The test giver then has to use the narratives and identify what the central motivation is behind them which are usually outside the participant’s consciousness. Murray was so interested in a student from Harvard University that took his TAT test. He did a whole case study about it. The student was much like Murray in that he was making terrible grades. Murray looked at the stories that Grope gave in response to the pictures and realized that Grope’s personality outclassed everyone else’s because of his dream of power, fame, and glory. Murray believed that because of his outlandish view of a successful future is linked to a fear of failure. Murray found from Grope’s autobiography that a rejecting mother and ambitious parents who praised him for his early displays of success were very important things in Grope’s background. Grope perceived his current failure at Harvard as temporary and all he needed was fire (internal or external) to get him started. After Harvard, Grope entered into Summer The ater. Murray believed that it suited his desire to have attention and admiration from everyone. Murray’s was very interested in the life of Herman Melville. Murray and Melville strongly identified with each others experiences. Murray never completedShow MoreRelatedHenry A. Murray Personology1969 Words   |  8 PagesHenry A. Murray: Personology Personology is the science of people. It is used to interpret and organize the lives of humans. The central ideas of the science must be to understanding of what we mean by the concept person, and for development of methods of understanding the lives of persons as the long unit for psychology (Barresi Juckes 1988 pg 1). It is important to take accounts when studying personology from first person perspective instead of a third person perspective. Henry A. MurrayRead MoreMaslows and Murrays theories1064 Words   |  5 Pageselement cannot be separated from its system in order to study it. Two of the organismic theorists have developed theories to understand humans’ psychological developments through their needs: Abraham Maslow, with his hierarchy of needs theory; and Henry Murray, and his psychogenic needs theory. They both focused on developing their theories to understand human personality and its development. However dissimilarities are found between the two theories, they both share the concept of having steps of developmentsRead MoreEssay about Comparison and Contrast of Maslow and Murray1912 Words   |  8 PagesOrganismic theorists Abraham Maslow and Henry Murray tried to define the psychological developmental growth of humans via their theories of Hierarchy of Needs and Psychogenic Needs, respectively. Although each personality theorist’s idea attempts to define human psychological development there are quite a few dissimilarities between the two concepts; however, as much dissimilarity that may exist between the hierarchy of needs and psychogenic needs, both Maslow and Murray endeavored towards the same goal:Read MorePsychology : Your Super Ego 1092 Words   |  5 PagesConscientiousness is linked to higher GPA, religious faith, quality friendships, and dressing neatly. A recent study showed that more conscientious adolescents to experience stress. Personology and life story perspectives believe that in order to understand a person we must focus on their whole life story. Henry Murray believed that we must study the whole person in order to understand them. He believed we all have unique life experiences that make up our identities. The social cognitive perspective

Questions On Strategic Human Resource Management Essay

Table of Contents Executive Summary Topic Introduction Body/ Findings Analyse the factors involved in measuring the impact of given HRM strategy Evaluate the available tools used for measuring the effectiveness of HRM strategy Assess key research findings regarding the connection between HRM strategy and organizational performance Evaluate the rationale for ethical codes of conduct/ behaviour in HRM strategy Recommend ways to effectively manage ethical dilemmas regarding whistle blowing, multinational workforce, equal opportunities and diversity Analyse different training methods including specialised training methods Analyse the importance of further education and professional development in the context of NZ organizations Conclusions Recommendations References Appendices Executive Summary Strategic Human Resource Management is an approach to the management of human resources that provide a strategic framework to support long- term business goals and support. This approach is concerned with structure, culture, values, quality commitment and matching resources to future needs. It is to ensure that a company has right people to do right jobs with the required skills, knowledge and abilities at right time. People should be motivated and committed to achieve current and future strategic needs of firm as it enhances the productivity and effectiveness of the organization. The organization has more chances of getting successful by achieving goals andShow MoreRelatedQuestions On Strategic Human Resource Management Essay2125 Words   |  9 PagesStrategic Human Resource Management Version 7 Credits 20 Assignment 1 Group Assignment Learning Outcome 1: Section A: Contingency Model: Contingency theory functions under the notion that organisation and management should act according to the different situations of an individual. Moreover, in this type of model in management there is no perfect approach in the methods of leadership, because each workplace is unique, the intervention or approaches depends on the current situation the managementRead MoreStrategic Human Resource Management1738 Words   |  7 PagesSTRATEGIC HUMAN RESOURCE MANAGEMENT Strategic human resource management is the process of linking the human resource function with the strategic objectives of the organization in order to improve performance. Strategic management The word ‘strategy’, deriving from the Greek noun strategus, meaning ‘commander in chief’, was first used in the English language in 1656. The development and usage of the word suggests that it is composed of stratos (army) and agein (to lead). In a management contextRead MoreTable Of ContentsPrefacexiiiPART ONEThe Strategic Human1743 Words   |  7 PagesTable of Contents Preface xiii PART ONE The Strategic Human Resource Management Model 2 Chapter 1 Strategic Importance of Human Resource Management Chapter Objectives Challenges Facing Canadian Organizations Spotlight on Ethics: What Is a â€Å"Right† Behaviour? Objectives of Human Resource Management Strategic Human Resource Management The Organization of Human Resource Management The Human Resource Management Profession of the Future The Framework Used in This Book Spotlight on HRM: Will the 21stRead MoreHuman Resource Management And Business Strategy Essay1307 Words   |  6 Pagesbetween human resource management and business strategy is one of the most m important demands that are placed upon modern strategic human resource management. In both the management and the academic literature, it is generally acknowledged that the strategic deployment and management of personnel can contribute to the success and continuity of the firm. Some go even further by stating that a firm’s human resources form the basis of the firm’s competitive advantage. In this view, the human resourcesRead MoreHuman Resource Management And Organizational Strategy752 Words   |  4 Pagesfrom Bill Gate’s strategic vision for his company. Different from other entrepreneurs, he values the employees, and favoring intelligence over experience in his employees. In modern society, human capital is the most dynamic resources for a company. How to attract excellent human resource and utilize their ability to reach organizational goal is something managers should think about. Strategic human resource management could explain the relationship between human resource management and organizationalRead MoreHuman Resource Management : The Management Of An Organization1250 Words   |  5 PagesHuman resource management is the management of an organization to build and maintain the relation between the employee and the organization in order to meet business objectives and employee expectations. The process of hiring and developing employees so that they bec ome more valuable to the organization. Human resource management is the governance of an organization s employee. HRM is sometimes referred to simply as human resource. HRM is the process of recruitment, selection of employee, providingRead MoreSummary of Human Resource Management1577 Words   |  7 Pagesvery important that human research management to transform from being primarily administrative and operational to strategic partner. The reason is it important is because the human resource department plays a crucial role in determining the culture of an organization. Human resources promote and implement policies and procedures. The key areas are hiring practices, compensation, management relations and employee conduct and behavior. The decisions made by the human resources department will effectRead MoreRole of Human Resource Management673 Words   |  3 PagesPart 1 Human resource management has several areas in common between organizations; they deal with the legal activities of the client, ensure that job desc riptions are accurate, interview, train, manage EEO and Affirmative action, and ensure compliance to a wide spectrum of regulations. Recruitment and training have been part of HRM for decades, and overall considerably between clients. HRM usually does the advertising, screening, and initial testing; then once hired, basic training and orientationRead MoreThe Field Of Human Resource Management Essay1543 Words   |  7 PagesExecutive Summary Several studies in the field of Human Resource Management concentrate on the importance of a Human Resources Business Partner to the organisation’s performance. Bredin (2008) notes a shift from traditional to strategic Human Resources Management and the implications for the organisation. Ulrich (1997) suggested how Human Resource Management and the role of a Human Resources Business Partner can contribute to an organisation’s competitive advantage. The objective of this literatureRead MoreEssay The Challenge of Developing Successful Leaders 1237 Words   |  5 Pagesorganizations fail to cultivate the human resources that they already have because; they are unaware of their employees’ potential, they have not implemented a program for mentoring and development, or they may not have the funds to invest in training and development to further their employees’ capabilities. The Society for Human Resources relates that â€Å"developing the next generation of corporate leaders† is one of the major concerns of the majority of human resource executives (â€Å"Future HR Challenges Questions On Strategic Human Resource Management Essay Strategic Human Resource Management Version 7 Credits 20 Assignment 1 Group Assignment Learning Outcome 1: Section A: Contingency Model: Contingency theory functions under the notion that organisation and management should act according to the different situations of an individual. Moreover, in this type of model in management there is no perfect approach in the methods of leadership, because each workplace is unique, the intervention or approaches depends on the current situation the management is facing. To achieve the maximum potential of the working body, leaders or officers must determine and understand the most effective management style for each circumstance. Moreover, contingency is a plan on how to implement actions in dealing with different possible outcomes. Lastly, contingency theory in the work environment determines and prevent undesirable conflicts by handling persons in the altruistic way as possible. Harvard Model: The Harvard Framework has two distinct features. First, the line managers have greater responsibilities in the assurance of the alignment of individual policies and competitive strategy. Second, the objectives of the personnel is to set policies that oversee how individual activities are made and carried out in ways that make them more productive. In addition, in this type of framework, employees are important stakeholders in an institute. Employees have their own individual needs and worries along with other groups such as, shareholdersShow MoreRelatedQuestions On Strategic Human Resource Management Essay7145 Words   |  29 Pagesin the context of NZ organizations Conclusions Recommendations References Appendices Executive Summary Strategic Human Resource Management is an approach to the management of human resources that provide a strategic framework to support long- term business goals and support. This approach is concerned with structure, culture, values, quality commitment and matching resources to future needs. It is to ensure that a company has right people to do right jobs with the required skills, knowledgeRead MoreStrategic Human Resource Management1738 Words   |  7 PagesSTRATEGIC HUMAN RESOURCE MANAGEMENT Strategic human resource management is the process of linking the human resource function with the strategic objectives of the organization in order to improve performance. Strategic management The word ‘strategy’, deriving from the Greek noun strategus, meaning ‘commander in chief’, was first used in the English language in 1656. The development and usage of the word suggests that it is composed of stratos (army) and agein (to lead). In a management contextRead MoreTable Of ContentsPrefacexiiiPART ONEThe Strategic Human1743 Words   |  7 PagesTable of Contents Preface xiii PART ONE The Strategic Human Resource Management Model 2 Chapter 1 Strategic Importance of Human Resource Management Chapter Objectives Challenges Facing Canadian Organizations Spotlight on Ethics: What Is a â€Å"Right† Behaviour? Objectives of Human Resource Management Strategic Human Resource Management The Organization of Human Resource Management The Human Resource Management Profession of the Future The Framework Used in This Book Spotlight on HRM: Will the 21stRead MoreHuman Resource Management And Business Strategy Essay1307 Words   |  6 Pagesbetween human resource management and business strategy is one of the most m important demands that are placed upon modern strategic human resource management. In both the management and the academic literature, it is generally acknowledged that the strategic deployment and management of personnel can contribute to the success and continuity of the firm. Some go even further by stating that a firm’s human resources form the basis of the firm’s competitive advantage. In this view, the human resourcesRead MoreHuman Resource Management And Organizational Strategy752 Words   |  4 Pagesfrom Bill Gate’s strategic vision for his company. Different from other entrepreneurs, he values the employees, and favoring intelligence over experience in his employees. In modern society, human capital is the most dynamic resources for a company. How to attract excellent human resource and utilize their ability to reach organizational goal is something managers should think about. Strategic human resource management could explain the relationship between human resource management and organizationalRead MoreHuman Resource Management : The Management Of An Organization1250 Words   |  5 PagesHuman resource management is the management of an organization to build and maintain the relation between the employee and the organization in order to meet business objectives and employee expectations. The process of hiring and developing employees so that they bec ome more valuable to the organization. Human resource management is the governance of an organization s employee. HRM is sometimes referred to simply as human resource. HRM is the process of recruitment, selection of employee, providingRead MoreSummary of Human Resource Management1577 Words   |  7 Pagesvery important that human research management to transform from being primarily administrative and operational to strategic partner. The reason is it important is because the human resource department plays a crucial role in determining the culture of an organization. Human resources promote and implement policies and procedures. The key areas are hiring practices, compensation, management relations and employee conduct and behavior. The decisions made by the human resources department will effectRead MoreRole of Human Resource Management673 Words   |  3 PagesPart 1 Human resource management has several areas in common between organizations; they deal with the legal activities of the client, ensure that job desc riptions are accurate, interview, train, manage EEO and Affirmative action, and ensure compliance to a wide spectrum of regulations. Recruitment and training have been part of HRM for decades, and overall considerably between clients. HRM usually does the advertising, screening, and initial testing; then once hired, basic training and orientationRead MoreThe Field Of Human Resource Management Essay1543 Words   |  7 PagesExecutive Summary Several studies in the field of Human Resource Management concentrate on the importance of a Human Resources Business Partner to the organisation’s performance. Bredin (2008) notes a shift from traditional to strategic Human Resources Management and the implications for the organisation. Ulrich (1997) suggested how Human Resource Management and the role of a Human Resources Business Partner can contribute to an organisation’s competitive advantage. The objective of this literatureRead MoreEssay The Challenge of Developing Successful Leaders 1237 Words   |  5 Pagesorganizations fail to cultivate the human resources that they already have because; they are unaware of their employees’ potential, they have not implemented a program for mentoring and development, or they may not have the funds to invest in training and development to further their employees’ capabilities. The Society for Human Resources relates that â€Å"developing the next generation of corporate leaders† is one of the major concerns of the majority of human resource executives (â€Å"Future HR Challenges

Consideration Under the Contract Law

Question: Discuss about the Consideration Under the Contract Law. Answer: Introduction: The matter in this case is related with consideration under the contract law. In this regard, the contract law provides that elements like offer, acceptance and consideration should be present for making an agreement between the parties legally enforceable. However in this case, Jane was going to give his Lotus Super 7 sports car to Jack for free although the market value of such a car is around $25,000. Jack has accepted the offer made by Jane and in this way the issue arises if the parties have formed a legally enforceable contract. For the purpose of making a contract valid, or in other words the enforceable, it is required that among other elements, consideration should also be present. Each party to the contract should provide consideration in return of the promise received by it. Past consideration is not treated as good consideration (Re McArdle, 1951). For this purpose, consideration is the benefit that has been received by the parties to the contract. The law also provides t hat past consideration is also not a good consideration. According to the law, consideration can be anything of value and therefore it should be something real and not illusionary (Thomas v Thomas, 1842). In this way, a contract can be enforceable only if it is supported by a valid consideration. But in the present case, the promise made by Jane to give his car to Jack for free is not supported by any consideration. Therefore, it can be said that this promise cannot be enforced by Jack as it is not supported by a valid consideration. On the other hand if Jane had made an offer to sell her Lotus Super 7 sports car to Jack at a price of 25,000 and at the same time, the price of such a car in the market is also around 21,000, the question arises if this offer has been accepted by Jack, is there a valid and the enforceable contract between the parties. In such a case, the elements that are required for creating a valid contract like offer, acceptance and consideration will be present (Atiyah, 1990). At the same time, the parties have the intention of creating a legal relationship and the parties also have the capacity to contract. In this case, if the offer made by Jane is accepted by Jack, it can be said that all the essential elements are present. An offer has been made by Jane and it has been accepted by Jack. The consideration is also present in this case as Jack had accepted to pay $25,000 as the price of the car. The law of contract requires that each party to the contract should receive the benefit and similar ly should also suffer a detriment (White v Bluett, 1853). In this way, this benefit or detriment has been called as consideration. As in this case, a valid consideration has been provided, it can be said that a valid contract is created which can be enforced by the law. Another issue may arise if Jane makes an offer to sell the car at a price of $2500 while in reality; the market price of the car is around $25,000. Therefore it needs to be considered if the offer is accepted by check, is it a valid contract between the parties. The issue arises as a result of the extremely low price of the car as compared to its current market value. In such cases, it needs to be noted that the parties have been provided the freedom of contract and therefore, generally the courts do not go into the issue of the adequacy of consideration (Beale, 2002). It has been left up to the parties to decide what ever consideration they may deem fit for the promise that has been received by them. In this regard, it is only required that they should be a real consideration, it should not be illusionary (Beatson, Burrows and Cartwright, 2010). Consideration can be anything that has some value in the eyes of law. Hence it is not required that the consideration should also be adequa te although the inadequacy of the consideration may be used by the court for the purpose of deciding the presence of unconscionability, force or fraud. In this way, the parties are free to decide any consideration so long as it is real and valid consideration (Re Wragg Ltd., 1897). For example in Chappell v Nestle (1960) it was stated that even the empty wrappers may amount to a valid consideration. Chappell Co Ltd v Nestle Co Ltd [1959] UKHL 1 is a significant case of the English contract law that deals with the issue of consideration. In this case, the traditional doctrine has been confirmed by the House of Lords according to which the consideration need not be adequate but it needs to be sufficient. In this case, the copyright for 'Rockin' shoes was owned by Chappell Co. on the other hand, Nestl company was giving the records of this song to the persons who sent the wrappers of the chocolate bars of the company. According to the Copyright Act, 1956 it has been mentioned that a royalty of 6.25% has to be paid on the ordinary retail selling price. In this regard, it was claimed by this the ordinary retail selling price of the record was 1s 6d. On the other hand, it was argued by Chappell Co that the price should be more. Therefore the question was if the wrappers of the chocolate bar can also be considered as a partial consideration for the records. In this case, it was stat ed by the majority in the House of Lords that although the chocolate wrappers had trivial economic value and ultimately they were thrown away, but still they were a part of the consideration in this case. On these grounds it can be said that the price of $2500 is a valid consideration even if the market value of the car is around $25,000. While in ordinary language, adequacy and sufficiency are considered to have the same meaning but in legal terms, the term adequacy is related with the circumstances under which the price that has been paid by a person for something is disproportionate to the value of what has been received by such a person in return. Therefore, for instance, if A has paid $50 as the consideration for a house, it can be said that clearly, adequate consideration has not been provided by A for the house. But in these cases, it is the general opinion of the courts that the value of the goods and services provided under the contract has to be decided by the parties to the contract themselves and it is not for the courts to decide the adequate consideration. As a result of this position, even if adequate consideration is not present in a contract, it will not have any impact on the validity of the contract. The consideration is stated to be sufficient if it is sufficient enough for supporting a simple cont ract in the eyes of law. This requires that the consideration supplied by the party should enjoy some value under the law. There are many examples where the consideration is not treated as having any real value in the eyes of the judiciary. Therefore, moral duty, natural love and affection and prayers are not considered as having an economic value. The result is that these are not treated as sufficient consideration that can support the formation of a valid contract. In such a case, it will only be repeating the obligation that the promisee is already obliged to do. According to the law, a particular consideration has to be treated as insufficient if the plaintiff has performed a duty that the plaintiff was already obliged to do. Therefore it can be said regarding the presentation that the consideration of $2500 is adequate consideration even if the market value of the car is around $25,000. On the grounds of the facts of this case, it can be said that the issue is related with the enforceability of the promise made by the buyer to pay extra US$3 million. In this case, as a result of the devaluation of the US currency, the shipbuilder is set to suffer a loss. As a result, demands extra US$3 million otherwise the construction of the ship will be stopped. On the other hand, the buyer already had the charter for the tanker and therefore it became very significant that the tanker should be delivered on time. Under these circumstances, it has to be seen if the buyer may be successful in recovering the excess amount paid to the shipbuilder. A case with similar facts is that of Williams v Roffey Bros and Nicholls Contractors) Ltd (1990). In this case, one party had created a contract with the other for performing some carpentry work. However the midway, it became clear that the other party will not be able to finish the work on time. On the other end, the plaintiff had entered into a contract with a third-party according to which if the work was not completed on time, the plaintiff was required to pay a penalty. Therefore in order to avoid paying penalty to the third party, the party agreed to pay extra money so that the work may be completed on time. The brief facts of this case are that the carpentry work for the flats was subcontracted by the defendant to the plaintiff. However as a result of the price decided by the parties for the work, financial difficulties were created for the plaintiff and it became difficult for the plaintiff to complete the work on time. These were the circumstances when the defendant agreed that additional payment will be made to the plaintiff for each flats completed on time. However later on the defendant refused to make these additional payments. As a result, the plaintiff sued the defendant for the recovery of his payment under the original contract and also under the further agreement created between the parties. However, it was argued by the defendant that the promise of making additional payment was not enforceable as it was not supported by any consideration. The Court stated that the rule provided in Pinnell's case is not applicable in the cases where the debt has arisen as a result of the pro vision of services. Therefore the promise to perform an existing duty can also be treated as good consideration if the other party is going to achieve practical benefits as a result of the performance of an existing contractual duty. An example in this regard can be given of the situation where A has made a contract with B for the performance of some work or to provide goods or services in return of the payment made by B and at some stage, before the work was completed, B has reasons to believe that A may not be able to complete the work on time, and B makes a promise that in return of an additional payment by A, it will perform these obligations under the original contract on time. It is also required that due to the promise made by B to complete the work on time, A is going to achieve practical benefit or to avoid a loss and at the same time, the promise is not the result of fraud or economic duress, it can be said that the benefit achieved by B will act as a good consideration for the promise made by B to make additional payment. Under these circumstances, the issue was if this contract to pay the extra money was valid and if consideration was present to support the promise of being the extra money (Atiyah, 2000). The court arrived at the conclusion that in this case the promise to pay the extra amount was legally enforceable. The court mentioned that the additional amount was recoverable. Therefore when a promise to pay additional amount has been made by one party to the other in return of a promise that they work will be completed on time and the party that had promised to pay extra amount was going to achieve an advantage or avoid a loss by the completion of the work on time, and the promised to pay additional amount was not due to economic duress or fraud, the benefit that such party is going to receive by the completion of the work on time may act as a good consideration. On these grounds, it can be said that the promise to pay extra US $3 million for the completion of the tanker on time was legally enforceable as the buyer was going to achieve a benefit by the completion of the tanker on time. This provided the consideration for the promise to pay the extra amount. As a result, the buyer cannot recover the excess amount from the shipbuilder. References Atiyah, P.S. 1990, Essays on Contract, Oxford University Press, New York Atiyah, P.S. 2000 An Introduction to the Law of Contract, Clarendon Beale, H., (ed) 2002 Cases, Materials and Text on Contract Law (Hart Beatson, J. Burrows A. and Cartwright, J. 2010 Anson's Law of Contract, 29th edn OUP Publishing, Oxford Chappell v Nestle [1960] AC 87 Re McArdle (1951) Ch 669 Re Wragg Ltd [1897] 1 Ch 796 Thomas v Thomas) (1842) 2 QB 85 White v Bluett (1853) 2 WR 75 Williams v Roffey Bros and Nicholls Contractors) Ltd (1990) 1 All ER 512