Adam And Eve The Duality Of Humanity Religion Essay

Adam And Eve The Duality Of Humanity Religion Essay Paradise Losts Adam is a rational, clever and trustworthy character who has an amazing rapport with the highest power, God. It can even be argued that before he fell, his was the epitome of humanity, as perfect a human as ever existed. He shares this trait with Eve who is the most perfect and complete woman. This view has been reciprocated by many religious denominations but each has interpreted it in their own unique ways; from Calvinists to puritans to Milton each has interpreted the story of Genesis in their own unique way. Like Adam who was perfect, to the belief that eve was flawed, each has built their own mythos around the story of the genesis of mankind. The Adam represented in Miltons Paradise Lost is an exceedingly rational being, and can understand greatly sophisticated and complex ideas nearly instantaneously. However this perfection hides several deep and critical flaws present within his character. His character and insight is demonstrated when after observing Raphaels descent into Eden, Adam orders eve to, go with speed, / And what thy stores contain, bring forth and pour / Abundance, fit to honor and receive / Our Heavnly stranger (V, 313-316). To which Eve answers, Adam, earths hallowed mould, / Of God inspird, small store will serve, where store, / All seasons, ripe for use hangs on the stalk (V, 321-323). These word which at first seem stiff and of an overly formal method, nonetheless helps reveal the relationship of Adam and Eve. Adam is in charge, but his request for Eve to prepare a meal is not in any way dismissive. She understands that and her response, is in accord with that message. This transitory conversation is n ot that of a master and servant but of two people who hold themselves in equal regard. His relationship with Eve is not the only conversation between equals, as he also talks with Raphael as an equal. He converses with the archangel Raphael as an equal both, socially in his standing, and intellectually in his ability to clearly understand the meanings behind the Raphaels words. However this ends after Adams fall from the grace of god. After his fall Adam loses his pure intellect and his rationality leading him to brash and increasingly non-rational actions, stripping him of his ability to converse with the angels as an equal. Adams greatest flaw is his unequivocal love for his wife Eve. He falls I love merely upon seeing her for the first, and even confesses to the archangel Raphael that his attraction is nigh overwhelming. Though warned by Raphael to keep his dangerous emotions in check he completely disregards Raphaels earnest urgings. After Eve eats from the Tree of Knowledge of good and evil, quickly devours a fruit from the same tree in order to prevent him from being separated from her even momentarily. Eve has become an indispensable companion in his life and he will do anything in order to prevent himself from being separated from his only love. His other major weakness is his insatiable curiosity. He manipulates the angel Raphael to extract more information from him, To whom the Patriarch of mankind replid, /O favourable spirit, propitious guest, /Well hast thou taught the way that might direct /Our knowledge, and the scale of Nature set /From center to circumference, whereon/ In contemplation of created things /By steps we may ascend to God. But say, /What meant that caution joind, if ye be found Obedient? Can we want obedience then to him, or possibly his love desert that formd us from the dust, and placd us here full to the utmost measure of what bliss Human desires can seek or apprehend?(Book V 506-518) This suggests a growing attraction to temptation, but like his relationship with Eve this temptation is easily ignored. It is only through Eve that his temptations become truly unavoidable. Created to be Adams mate, Eve can be considered inferior to Adam, but only by a very slight margin. She surpasses Adam only in her beauty. Like the mortal narcissus, she falls in love with her own reflection stilled and entranced by her own beauty. In an ironical sense her beauty her greatest strength is also her greatest flaw. She is easily manipulated by Satan when she is complimented on both her beauty and goodness. But even so it is not her beauty that is tested but her intelligence and spiritual purity. Though she is by no means unintelligent she lacks the ambition and drive to learn more, content to leave all her decisions to Adam as was ordained by God. As a result, she does not advance in either intelligence or in knowledge but remains mostly static, although by the end of the poem she begins to show the seeds of wisdom. Her lack of learning is mostly due to her absence from Raphaels conversations with Adam in Books V, VI, and VII, and her not experiencing Raphaels visions in Books XI and XII. She feels that it is not her place to be present in this discussions but is content to learn from Adam as a third-party. However, Milton is quick to defend her choice as, Yet went she not, as not with such discourse / Delighted, or not capable of her ear / Of what was high: such pleasures she reservd, / Adam relating, she sole Auditress (VIII, 48-51). The only time that she deviates from her mainly passive role, it results in the punishing fall of man. Even so eve does occasionally question Adams choices and ideas. In Book IX, her questioning does lead to temptation, Eve states at the start of Book IX that they can do more work if they work separately. Adam feeling that as Eve was tricked once before Satan when she was alone, resists this idea and refuses to be separated from Eve once more lest she fall once more into temptation. However due to the love he feels for Eve he allows himself to be separated in order to please Eve. This is possibly due only to his love and is not an exercise of his reasonable capabilities. On the other hand, Eve won her argument by cleverly utilizing her few advantages over Adam. Though through her actions she sets herself up to fail by that only together can they resist temptation. However, her character is quite different from the views held by other religious denomination. This fits with the Genesis description that her one major flaw is her curiosity and vanity. She suffers from a need to know that is her one major flaw even in Genesis she cares for him being as she is made to make him happy. Adam is also slightly different in that he is not as confident in himself. However, even more importantly, is the distinct lack of available text to be able extrapolated to provide an adequate portrait of both Adam and Eves general personality. This has not stopped numerous Christian denominations from interpreting her in various fashions. Calvinists believed that Adam was created in such a way he had to sin, predestination. Original sin, therefore, seems to be a hereditary depravity and corruption of our nature, diffused into all parts of the soul, which first makes us liable to Gods wrath, then also brings forth in us those works which Scripture calls works of the flesh (Gal 5:19). And that is properly what Paul often calls sin. The works that come forth from itsuch as adulteries, fornications, thefts, hatreds, murders, carousingshe accordingly calls fruits of sin (Gal 5:19-21), although they are also commonly called sins in Scripture, and even by Paul himself.(Calvin,24) This fits with the general view that it is Adams inherent depravity that prevents him from being able to resist Eve. He accepts the temptation because he too wants the forbidden and to disobey. (Calvin Chap 11, 30It also fits extremely well with their general view of God as a tyrant. This view was unconsciously shared by many members of the Reformation. This belief was predestination or the belief that whether a person will go to heaven or hell is decided before a person is even born. If this fact is taken in consideration with the saga of Adam and Eve it creates the image of a sadistic god who created Adam and Eve only to cause them to fall. In this way it is a reflection of the general attitude held by many Reformationists is that humanity is in general doomed, a nihilist philosophy which either caused a person to believe they were exceedingly blessed or to despair in their spiritual state. Moreover, we say that our pollution is so great, that it can never be washed away save in the fountain of his pure blood. Must not those who are thus addressed conceive a greater horror of sin than if it were said to be wiped off by a sprinkling of good works? If they have any reverence for God, how can they, after being once purified, avoid shuddering at the thought of again wallowing in the mire, and as much as in them lies troubling and polluting the purity of this fountain? I have washed my feet, (says the believing soul in the Song of Solomon, 5:3), how shall I defile them? It is now plain which of the two makes the forgiveness of sins of less value, and derogates from the dignity of justification. They pretend that God is appeased by their frivolous satisfactions; in other words, by mere dross. We maintain that the guilt of sin is too heinous to be so frivolously expiated; that the offense is too grave to be forgiven to such valueless satisfactions; and, therefore, that forgive ness is the prerogative of Christs blood alone. (Calvin, Chap.16, 4) This is important in that Milton represents God as an emotionally distant controlling god. He is not available to be loved, but only held in awe. We can never merit this love only accept the free gift. Milton does not make God approachable as are his Adam and Eve. Therefore, Miltons Adam and Eve are not the Calvinistic fallen and depraved, but men, like ourselves who chose error through faults, but are still with much merit. Throughout time the saga of Adam and Eve has been analyzed and rewoven a multitude of times over the ages Miltons incarnation has earned its pedestal as the supreme mythos of the genesis of mankind, while others have interpreted Adam and eve as chosen of God, the fallen, or as victims of a malevolent god. There is only one thing certain that not much is known of Adam and Eve but much still can be learned from Miltons the relationship between man and woman and the future we can claim.

CIA’s 50 Years of Corrupt Drug Trafficking :: Argumentative Persuasive Papers

CIA’s 50 Years of Corrupt Drug Trafficking The CIA’s 50-year history of smuggling drugs into America is generating hatred for the United States throughout the world. Like Pontius Pilate, CIA washes their hands of the human tragedies and the corruption of government offices. They do this by remaining and by refusing to recognize the evidence, supporting corruption. For the past 50 years, the CIA has abused its power by deliberately drugging and corrupting America; and therefore should be prosecuted. According to the constitution, the people for the people originally created the government to be a group of elect â€Å"organizers† (not controllers) employed. One can say the CIA is a mutated part of the US government. The CIA was created when a Wall Street lawyer and banker wrote The National Security Act of 1947. Clark Clifford was the man who brought the CIA backed drug bank BCCI into the United States. CIA heroin trafficking moved in the 1960’s and 1970’s from the Turkey-Marseilles connection to the Asian connection. For decades until the 1950s, Asian government supported the opium trade, because money was flowing in as long as the opium was flowing out. By the early 1960s, the mountain areas of Southeast Asia produced most of the world's opium. In the early 1950’s in Southeast Asia, the CIA organized the Nationalist Chinese army to start a war against Communist China. This Chinese army became the opium distributors of the â€Å"Golden Triangle† (parts of Burma, Thailand and Laos). The â€Å"Golden Triangle† has the most abundance of opium and heroin in the world. In order to smuggle drugs, the CIA’s main airline, Air America, flew drugs all over Southeast Asia. (Robbins 154) From the early 1950’s to early 1970’s during U.S. military involvement in Laos, Indochina, opium and heroin were flown by â€Å"Air America† into many countries, including Vietnam. As a result of CIA’s drug smuggling, Southeast Asia became the source of 70% of the world’s opium and heroin. South Vietnam was completely corrupted by a heroin trade that came from Laos, thanks to the CIA. The Hmong culture in Laos provided 30,000 men for the CIA's secret Laotian army. But in the process, opium production took over Hmong culture. To support the Hmong economy, the CIA's â€Å"Air America† transported raw opium out of the Laotian hills to the labs. By mid-1971, Army medical officers estimated that fifteen percent of American GIs were addicted (Stich 142).

Utilitarianism in Crime and Punishment Essay -- Crime Punishment Essay

Utilitarianism in Crime and Punishment      Ã‚  Ã‚   Raskolnikov's mathematical evaluation of the moral dilemma presented to him in Dostoevsky's Crime and Punishment exemplifies the empirical view of utilitarianism.   Utilitarianism attempts to distinguish between right and wrong by measuring a decision based on its calculated worth.   Raskolnikov appears to employ the fundamentals of utilitarianism by pitting the negative consequences of murdering his old landlady against the positive benefits that her money would bestow onto society.   However, a true follower of utilitarianism would be outraged at Raskolnikov's claim that murdering the old woman can be considered morally right. Raskolnikov arbitrarily leaves out some necessary considerations in his moral "equation" that do not adhere to utilitarianism.   A utilitarian would argue that Raskolnikov has not reached an acceptable solution because he has not accurately solved the problem.   On the other hand, a non-utilitarian would reject even the notion of deliberating about the act of murder in such a mathematical manner.   He might contend that Raskolnikov's reasoning, and the entire theory of utilitarianism, cannot be used to judge morality because it rejects individual rights and contains no moral absolutes.      Ã‚  Ã‚  Ã‚  Ã‚   A utilitarian bases his belief upon two principles:   the theory of right actions and the theory of value.   These two principles work together and serve as criteria for whether or not a utilitarian can deem an action morally right. First, the theory of right action argues that the morally right decision is the one whose consequences are at least as good as any other availa... ...    Gibson, A Boyce. The Religion of Dostoyevsky. Philadelphia: Westmenster Press, 1973. Monas, Sidney, trans. Crime and Punishment. By Fyodor Dostoyevsky. New York: Penguin, 1968.    Morsm, Gary Saul. "How to Read. Crime and Punishment." Commentary 1992 June, 93 (6):  Ã‚   49-53.    Rosenshield, Gary "The Realization of the Collective Self: The Birth of Religious Autobiography in Dostoevski's Zapiski iz Mertvogo Doma." Slavic Review 1991 Summer 50 (2): 317-27.    Panichas, George A. "The World of Dostoyevsky." Modern Age 22: 346-57    Mann, Robert. "Elijah the Prophet in Crime and Punishment." Canadian Slavonic Papers 1981 Sept 23 (3): 261-72.    Yancey, Phillip. "Be Ye Perfect, More or Less: Tolstoy, Dostoyevsky, and the impossible Sermon on the Mount." Christianity Today 17 July 1991: 38-41.

Essay --

I am applying to Stanford University for admission to the Ph.D. program in Computer Science. My research interests lie in the field of Computational Biology (CB). More specifically, I am interested in employing probabilistic and statistical methods to analyze genomic data more efficiently and accurately. As a statement of purpose of my graduate study, I describe here my academic background, research interests and future career plan. When I began my undergraduate career, I had the opportunity to be exposed to the full range of science courses. I rapidly became fascinated by the beauty of biological sciences and recognized the important role that computing and quantitative methods play in life sciences research. Dr. Dawkins once remarked, ``If you want to understand life, don't think about vibrant, throbbing gels and oozes, think about information technology." I could not agree more that computing (rather than mere experimentation) is the future of life sciences, and the sole idea of blending life sciences and computing in scientific research excites me. I was first officially introduced to the field of CB in my freshman summer, when I worked as a research assistant in the Center for Genomic Sciences, University of Hong Kong (HKU). During this project, I evaluated the performance of the Genome-wide Complex Trait Analysis software, conducting simulation studies based on a thorough literature review. I have gradually cultivated my persistence and self-study ability which I believe is crucial for becoming a researcher. In my second year, I went on exchange in UC Berkeley and audited the graduate course for Statistical Genomics there. Among the 20 or so students taking or auditing the course, I was the sole undergraduate. The course ... ...rful and friendly on this beautiful campus. Everybody here is living in Mr. and Mrs. Stanford's love for their son, and love makes everyday a perfect day. Perhaps this additional reason is not proper in a statement of purpose, but I strongly desire to continue my studies in Stanford, not only because of your excellent faculty and strong interdisciplinary research, but also because I feel that I belong here and my character accords with Stanford's spirit of freedom and love. To me, every step is not a finish, but a new start. I believe that your Ph.D. program would provide an stimulating and challenging environment for me to realize my full potential, and I possess the perseverance, intelligence and motivation to thrive and contribute to your team. I am fully prepared for my next step at the doctoral level in Stanford, and I look forward to this brand new beginning.

Antony and Cleopatra Essay

This scene presents the readers with a brief preface to the universally known love story of Antony, the ‘triple power of this world’, and Cleopatra, his ‘wrangling strumpet’. The scene opens with two Romans, Philo and Demetrius, discussing the incredible power Cleopatra has over Antony and the remarkable change they can perceive in Antony’s character. Through Philo’s opening speech we are told that Antony’s former qualities included those of a strong-minded ruler and a valiant warrior, including physical prowess and military skill. However, the Romans now see him as a changed man who is no longer behaving like a ruler; instead of fulfilling the duties of a leader and returning to Rome, he is being ruled by a â€Å"tawny gypsy†. Thus, before meeting the lovers themselves, we are presented with the Roman attitude towards the relationship; responsibility and allegiance has been abandoned for love. We sense that Antony must be debating in his mind whether to pursue his passion or perform his duty, and those around him are anxiously waiting for him to embrace his role as a leader again and return to his former self. On observing the interaction between the two characters, I found myself accepting Philo’s objections to the relationship and his observations on Antony’s altered state, and studying the evident infatuation that is blinding Antony as he loses his sense of responsibility. Cleopatra is his self-indulgence, and he cannot entirely understand his great sexual passion for her. We know that his overindulgence leads to a loss of reason and control later in the play, and the disregard he expresses in this first scene towards his obligations makes us aware of the great power his passion has. â€Å"Let the Rome in Tiber melt, and the wide arch/of their love. † His indifference towards the news from Rome again illustrates how he is shirking his duties in Rome when under the spell of the exotic, mysterious eastern monarch. From the first scene, we learn of Cleopatra’s ‘tawny front’, entrapment of a great general and her ‘gypsy lust’. Her entrance is a grand one, accompanied by Antony, ‘her Ladies, the train, with Eunuchs fanning her’. Her authority and command as a ruler are emphasized, and as we then witness in the dialogue between the lovers, her power over Antony mirrors her political power. In this first scene, we see Cleopatra as both dominant and skeptical. ‘If it be love indeed’, she taunts Antony, ‘tell me how much. ‘ Antony, the ‘triple pillar of the world’ is ‘transform’d /Into a strumpet’s fool’ as he prepares to renounce all his power in exchange for Cleopatra. Cleopatra seems to love these assertions of love, as she is wary of the fact that she stands on loose ground, even though she is a seductress of the best abilities. Antony is married to Fulvia, and Cleopatra questions his love for his wife†¦ is it greater than the love he holds for her? We see here that her love for Antony is possessive, yet she too depends on it. Although she dominates Antony in the opening exchanges, her first line ‘If it be love indeed, tell me how much’ points to the ever searching, questing, explorative nature of her personality. She teases, wrangles and resists the definite, whilst playing on Antony’s weak spots, reminding him of his wife and public responsibilities. Thus, I feel the strongest aspect of the relationship that Shakespeare conveys here is highlighted when Antony tells Cleopatra ‘There’s not a minute of our lives should stretch/Without some pleasure now’: all is to be reduced and sacrificed for the sensuous, intense pleasure of the moment – hedonism is to predominate over duty and responsibility.

Examinership, Receivership and Liquidation in Ireland

The collapse of the Irish economy has triggered a substantial increase in the number of companies in Ireland which are being deemed insolvent and which are no longer in a position to continue operating as viable entities. This has caused the companies directors, creditors and shareholders to seek remedies available under Irish law. The law in Ireland regarding companies in financial difficulties was originally set out by the Companies Act 1963, which was amended in 1990, and then again in 1999.All cooperate entities must adhere to the legislation set out under the Act and their individual memorandum of association and articles of association, which together constitute the constitution of a company. The principal remedies for dealing with insolvent companies are: 1. Examinership; 2. Receivership; 3. Liquidation. 1. The concept of examinership was introduced into Irish law by the Companies (Amendment) Act 1990. This legislation was enacted in order to provide companies which were in fi nancial difficulties with the chance of recovering and thereby avoiding liquidation.An examinership is where the court places a company under its protection to enable a court appointed examiner to assess the affairs of a company and consider whether it is capable of survival, and if so, puts forward proposals that will facilitate that continuation of business. The motivation behind the creation of this legislation was the prevention of the collapse of the Goodman Group. The aim of this legislation was to avoid liquidation of companies with a chance of recovering from financial difficulties.Forde and Kennedy opine that the immediate objective and consequence of the protection created by this legislation is to provide the company or companies in question with extensive immunity against its creditors and against claims being made against it. McCormack in his article â€Å"Control and Corporate Rescue† believes that this role was created as a response to changing political and bu siness dynamics in the l990s. The receivership model was seen as being too creditor centred and as not being sufficiently responsive to the concerns of other stakeholders.The feeling at the time, McCormack opined, was that â€Å"banks had pushed companies unnecessarily into insolvency by being unduly precipitate in the appointment of receivers. † The original legislation has been criticised in numerous respects, and so has been amended significantly by the CA 1999. Finlay CJ in the Supreme Court in Re Holidair Ltd, acknowledged the shortcomings of the legislation and held that it is appropriate to approach the construction of any sections in CA 1990 on the basis that the two objectives of the legislature were to provide a period of protection for a company and that a company should be continued as a going concern.The legislation was being used as a last attempt to save companies which were incapable of salvation. As John O’Donnell put it in his article ‘Nursing t he Corporate Patient – Examinership and Certification under the Companies Act, 1990’, â€Å"for many, it has been a painful experience to learn that the Act is designed to help cure the sick but cannot raise the dead. † Keane notes that the granting of the examiner is discretionary. A court may appoint an examiner where it appears that: a) A company is or is likely to be unable to pay its debts; (b) No resolution subsists for the winding-up of the company; (c) No order has been made for the winding-up of the company. Because of the effects of an examiner on a company, one should not be appointed without a real prospect of survival. Lardner J in Re Atlantic Magnetics Ltd advocated a strict test for â€Å"reasonable prospect of survival†. He was overruled by the Supreme Court, in favour of a requirement of â€Å"some prospect of survival†.Prior to the revision of CA 1990, the leading authority on the test for the appointment of an examiner was that S C decision in Re Atlantic Magnetics Ltd. The statutory revision of Section 2. 2 has effectively reversed that decision. The foregoing views are supported by the decision of the High Court in Re Tuskar Resources plc, which was the first written decision on the appointment of an examiner since the changes effected by CA 1999 were commenced. McCracken J began by analysing the changes effected to the test for the appointment.He said the new test was more in keeping with the decision of Lardner J in the High Court than with the decision in the Supreme Court – â€Å"In re Atlantic Magnetic†¦Finlay CJ also stated that there cannot be an onus of proof on a petitioner to establish as matter of probability that the company is capable of surviving as a going concern. It seems to me that this is no longer the position under the Act of 1999 by reason of the wording of the new sub-s 2(2). † He refused to appoint an examiner as the petitioner had failed to discharge the onus of proof that there was a reasonable prospect of the survival of the company.Although all petitions to have an Examiner appointed must be presented to the High Court, the HC may remit the matter to the Circuit Court under CA1990 Section 3. 9 where it appears that the total liabilities of the company, do not exceed â‚ ¬317,434. For the petition to be approved, the CA 1990 required a petition to have evidence of possibility of salvation but no detailed analysis of the company’s situation was required. This is another criticism of that Act. The petition to have an examiner appointed and the grounding affidavit must be made uberrimae fides, that is, in the utmost of good faith.What was first decided by Costello J in Re Wogans (Drogheda) Ltd has now been given statutory force by Section 4a CA 1990. Where it is discovered that the court has been misled, the entire application will be tainted. If this is discovered early in the proceedings, the examiner will be discharged where the lack of good faith is sufficiently serious. However, a lack of candour and good faith will not always result in a refusal to confirm an examiner’s proposals, as seem in Re Selukwe Ltd. There are no particular qualification requirements for an examiner. They can’t have been an officer of the company within the last 12 months.McCracken J held in Re Tuskar Resources plc that there was no bar on the person who provides the independent person’s report from acting as examiner. The person appointed is entitled to court-fixed remuneration and to costs. He can employ staff to assist or may use company staff. Section 10 CA 1990 provides that any liabilities incurred during the protection period are deemed to be legit examiner expenses. These liabilities would include new borrowing. Forde and Kennedy explain that the reason why the examiner may certify liabilities is that there may otherwise be a danger that the company’s survival as a going oncern may be prejudiced . Section 29 CA 1990 gave these liabilities and expenses priority over creditors where a scheme of arrangement was drawn up or a winding up ensued. This provision was one of the most criticised. It was deemed to subvert the whole lending process, as secured creditors lost priority. This had the potential to severely prejudice these creditors should examinership fail. Prior to the enactment of the 1999 Act, the duty of the examiner was to conduct an examination of the affairs of the company and report the results to the court within a specified period and to later present proposals and schemes of arrangement.Since the 1999 Act, that report is effectively replaced by the report of the independent accountant which must now accompany the petition. Accordingly, the duty of the examiner now is: (a) To formulate proposals for a compromise or scheme of arrangement; (b) To carry out such other duties as the court may direct him to carry out. The examiner must report to the court within 35 da ys informing then of any schemes formulated. If the court is then not satisfied, it can order the company be wound up as per Section 22 CA 1999. The examiner must meet with creditors and members to devise schemes of arrangement.The members and creditors are classed for the purpose of voting on schemes and these schemes are deemed to be accepted if the majority vote in favour from each class. Various classes can vote on the proposals, including the Revenue, etc. When these proposals go to the court, any creditor or member whose interests are impaired may be heard. If a party who was completely unaware of the proposed scheme can show that the examiner knew of his existence but failed to take reasonable steps to appraise him of the situation, he may possibly have a right of action against the examiner for damages.The court will not approve the proposals unless at least one class of creditors impaired by the proposals vote in their favour. As to the actual content of the proposals, the only requirement regarding the proposals’ intrinsic merits are that of equality within classes. Proposals must be fair and equitable and not unfairly prejudicial. The court may propose modifications to schemes and these must be voted on if significant. 2. Receivership arises in the context of secured debenture holders and provides a framework in which they may act so as to enforce their security interest.Forde and Kennedy observe that at times receivership is used not simply as a means of reimbursing creditors but more as a device for reorganising insolvent companies, so as to salvage their viable parts for the benefit of those involved. Courtney notes that the term derives from the Latin recipiere â€Å"to take†. The receiver will go to the company and take control of those assets subject to the charge. They can then dispose of those assets and pay off the principal and interest due to the debenture holder.Receiverships involve two distinct relationships as per Barr J in Bula Ltd v Crowley – â€Å"First, that between the appointing mortgagee and the receiver which relates to the fundamental objective of the receivership†¦The second relationship is that between the receiver and third parties arising out of the receivership†¦Ã¢â‚¬  The receiver is usually appointed by virtue of the debenture. The validity of the appointment of a receiver is dependent upon compliance with the terms contained in the debenture and the capacity of the company and authority of its officers to create the deb ab initio, that is, from the beginning.Courtney states that a creditor owes no special duty to a company in deciding whether or not to appoint a receiver. The fundamental issue for the debenture holder is whether or not the appointment will further their interests. However, where the appointment will not advance these interests, the appointment may be said to have been made in bad faith. The only qualifications that the law requires of receivers a re negative, i. e. certain persons are barred from becoming receivers, such as undischarged bankrupts and persons connected to or related to persons within the company, as per Section 170 CA 1990.In Wise Finance Co Ltd the court held that a company’s secretary was ineligible to act as that company’s receiver. A receiver appointed by debenture can resign with notice. The court also possesses an inherent power to appoint a receiver on application by a debenture holder. This occurs in instances where the debenture doesn’t provide for an appointment in a particular situation which has arisen. A receiver appointed by the court has the status of an officer of the court and can only resign with the authority of the court.Ellis noted that receivers, irrespective of the method of their appointment, are regarded as being in a ‘fiduciary' relationship with those who appointed them. A receiver is normally deemed to be the agent of the company by virtue of his appointm ent; however, the receiver’s primary duty is to the debenture holder. The receiver owes a fiduciary duty to the debenture holder and must conduct his receivership in good faith. The receiver is liable to the debenture holder in damages if he is negligent.The receiver is liable to the company where he is negligent in the sale of any of the company’s assets. Section 172 CA 1990 states that â€Å"a receiver, in selling property of a company, shall exercise all reasonable care to obtain the best price reasonably obtainable for the property at the time of the sale†. This gave statutory effect to the law in Ireland that a receiver should be required to ensure that he got the best price for an asset, even if a much smaller sum would realise his security, as accepted in Ireland in Lambert v Donnelly and McGowan v Gannon.It was observed by McCracken J in Ruby Property Company Ltd that this is simply a statutory acknowledgement of the position at common law. A receiver ca n’t be appointed after appointment of an examiner. If appointed in the 3 days prior to examiner appointment, he may be ordered to cease acting. 3. Liquidation terminates a company’s existence and distributes its assets in a preordained way. Carrie Jane Canniffe â€Å"Restraining a Creditor's Winding up Petition – The position since Truck and Machinery Sales Ltd v Marubeni Komatsu Ltd. , proffers the winding up process can be said to mark the formalised beginning of a company's end. There are two main forms of winding up; (a) By court order; (b) Voluntary. A voluntary winding up can be either a members’ winding up or a creditors winding up. Ussher observes that the only grounds upon which a company may be wound up by the court are stated in Section 213 of the Companies Act 1963. Two different types of grounds exist for the winding up of a company by the courts, procedural and substantive.Three different procedural grounds exist: (a) The company has resolv ed by special resolution to wind up the company. It was held in the case of Re Galway and Salthill Tramway Co. , that the board of directors may not cause it to do so without the benefit of an authorising or ratifying resolution in general meeting, or specific authority in the articles. (b) The company does not commence its business within a year from its incorporation or suspends its business for a whole year. Courtney notes this ground is rarely relied upon since only contributories, the Co itself and creditors may rely on it. c) The number of members is reduced, in the case of a private company, below two, or, in the case of any other company below seven. The most important grounds however, are those of the substantive grounds. Where; (a) The Company is unable to pay its debts. The CA 1990 provides that a company shall be deemed to be unable to pay its debts in certain circumstances: (a. 1) A creditor has not been paid a debt of â‚ ¬1000 or more within three weeks after demand ing it in writing; (a. 2) A judgment is unsatisfied; or (a. 3) It is proved to the satisfaction of the court that the company is unable to pay its debts.Keane comments that in deciding whether it has been proved that the company is unable to pay its debts, the court will generally act on evidence that a creditor has repeatedly applied for a payment without success. If, however, the company can show that there is a bona fide dispute as to the particular debt claimed, the order will not be made. Alison Keirse ‘Winding up petitions – Practical application of the Stonegate test’ observed that the decision in Re Pageboy Couriers Ltd adopted the decision of Stonegate Securities Limited v Gregory establishing this method of defeating a creditor's petition to wind up a company.However, as Courtney notes it is one thing to successfully dispute the bona fides of a debt at the hearing of a petition; even where successful, the company is exposed to a glare of adverse publici ty wherein its solvency is questioned. The first Irish case to consider an application for injunction relief against the advertisement of a petition was Clandown Ltd v Davis. Morris J held that the precise amount of the debt had to be declared before the court could order a winding up. Thus Morris J granted the injunction to restrain the publication of the petition.One result of this decision is to reinforce the principle that the courts will not permit themselves to be used as a method of debt collection. Howard Linnane ‘Oppression of Members: Section 205 Companies Act, 1963’ proffers that under the CA 1963 the court has jurisdiction to order the winding up of a company where it is ‘just and equitable’ to do so. Ussher proffers that in many cases such grounds are invoked where there is a complete deadlock between the shareholders and the company’s activities to the detriment both of the member and the creditors.The leading case is Re Yenidje Tobacco Co, the principle of which was applied in Re Irish Tourist Promotions. Kenny J wound up a company in which the two directors could not meet without the risk of unruly scenes, and the business of the company could not be conducted. In conclusion, while a company’s inability to pay its debts is the most common reason for the winding up of a company, it is not determinative. A court will only wind up a company where it is just an equitable to do so.Ultimately the appropriate remedy to be employed will be dependent upon the extent of difficulty the company finds itself. â€Å"There is of course some comfort for both companies and creditors alike that the Irish statutory framework at least contemplates solutions which draw back from the finality of ultimate dissolution of a company and facilitates interested parties a way forward through these recessionary times perhaps even to the benefit of all parties concerned. â€Å"

Riba’ and Gharar

Prohibition of Riba’ Generally Riba’ means that prohibition on any interest. In Islamic Finance system, investors and lenders are strictly disallowed to charge or receive interest. In the Shari’ah, â€Å"riba† technically refers to the premium that must be paid by the borrower to the lender along with the principal amount as a condition for the loan or for an extension in its maturity. According to Chapra (2006), term of riba is used in the Shari‘ah in two senses. The first is riba al-nasi’ah and the second is riba al-fadl..The term nasi’ah comes from the root nasa’a which means to postpone, defer, or wait, and refers to the time that is allowed to the borrower to repay the loan in return for the ‘addition’ or the ‘premium’. Hence riba al-nasi’ah is equivalent to the interest charged on loans While, prohibition of riba al-nasi’ah implies that the fixing in advance of a positive rate of retu rn on a loan as a reward for waiting and no difference whether the rate of return is small or big, or a fixed or variable per cent of the principal.It is important to note that, according to the Shari‘ah, the waiting involved in the repayment of a loan does not by itself justify a positive reward. Gharar is known as unacceptable risk taking which is another fundamental principle of Islamic finance central to the structuring transactions. It also can be considered some level of risk remains a fundamental aspect of commercial life and risk allocation a necessary component of Islamic finance; only disproportionate risk, speculative trading and transactions meeting exceeding limitations.According to Tabari (2011) gharar may rise from unacceptable levels of settlement risk, inadequate or inaccurate information and complex contracts where multiple transactions are not identifiable with multiple independent contracts. Besides, according to Iqbal (1999) Gharar in a contract arises whe re there is a lack of knowledge or there is a reasonable doubt about the control of either party to the contract over the completion of the exchange. The best example of gharar is gambling which have kind of unacceptable risk and gambling is disallowed in Islam.As a consequence, the major terms and conditions, such as the price, subject matter or time of delivery, must be determined when concluding the corresponding agreement. The main reason riba is prohibited because it prevents people from undertaking real economic activities. For example when a person having money is allowed to earn more money on the basis of interest, either in spot or deferred transactions, it becomes easy for him to earn without bothering himself to take pains in real economic activities.This leads to hampering the real interests of humanity, because the interests of humanity cannot be safeguarded without real trade skills, industry and construction. It support by Siddiqi (2004), Riba corrupts society and ult imate effect is negative growth. It must be a reason why Islam prohibits gharar, according to Gurulkan (2010), in a general context, the unanimous view of the jurists held that, in any transaction, by failing or neglecting to define any of the essential pillars of contract relating to the consideration or measure of the object, the parties undertake a risk which is not indispensable for them.This kind of risk was deemed unacceptable and tantamount to speculation because of its inherent uncertainty. Speculative transactions with these characteristics are therefore prohibited. In conclusion, riba’ and gharar will cause negative in social economics and that is a main reason, Islam prohibit these elements in business transaction. Even though, the debate still continue but prohibit it will save economics.