Magnetic Resonance Instrumentation Essay Example | Topics and Well Written Essays - 750 words

Magnetic Resonance Instrumentation - Essay Example This is achieved by increasing using multiple turns of the coil to increase its sensitivity, to allow high duty of pulsing. At the same time, the design will consider the inductance of the coil gradient, which will have to be minimized. The components of the MR system that are important in this regard include the gradient amplifier, voltage across the inductive, and the resistance across the gradient coil. Q3. The effects of gradient G(r) on Larmor processional frequency at a position r is to change the processional frequency at this position r. Q4. The optimal separation of two current carrying loops to produce as linear a magnetic field gradient as is possible at the centre of the two loops is when 2Z1 =, where a refers to the coil radius. The reason as to why this separation is different from the necessary one to produce a homogenous field is because separating the field in that manner help in generating relatively pure fields. Q5. Slew rate refers to the maximum gradient strength as a factor of the rise time (Vmax/L). The slew rate needs to be as large as possible because it helps in stimulating the peripheral nerves of the human body, thereby creating a â€Å"crawling† type sensation on the skin. Q6. Reason why it is necessary to shield gradient coils: This is done mainly to reduce the net inductance of the system Q7. Type of effect caused by gradient coil shielding to reduce combat the effects of eddy-current induced magnetic fields. Q8. The causes of undesirable sounds produced by magnetic resonance imaging at runtime are due to gradient coil experiencing magnetic forces and torques when being pulsed. The reason is that as the coils get physically restrained, the energy associated with the magnetic forces is released acoustically as loused sound. The undesirable sound can be reduced by: Designing a gradient coil that are torque and force balanced; Shaping the gradient pulses to reduce sound produced; Using acoustically absorbent formers for the co ils; Encasing the gradient coils in an evacuated chamber so that waves of the sound are not compatible. Q9. The main cause of nerve stimulation due to magnetic resonance imaging is the slew rate push and the maximum gradient strengths that induce field in the patient, thereby stimulating the nerves. This is mainly observed by experiencing a â€Å"crawling† type sensation on the skin. It can also be observed through twitching of muscles as the nerves get stimulated. Q10. The causes of impurities in the static magnetic field (BO) include: The patient and radiofrequency coils in the DSV, which may alter the magnetic field due to their magnetic properties; Imperfection in the magnetic manufacturing process; Installation site where ferrous installations done near the magnet may end up altering the homogeneity of the magnetic field over the DSV. Q11. The two types of image quality reduction caused by zonal impurities in the static magnetic field are: Artifacts; Homogeneity. Part B The three topics in my order of preference are: 1) Interventional MR system; 2) MR gradient coils: action and performance; 3) RF resonators for MR applications. The main reason as to why I have chosen the three topics is due to my desire to learn more about them so that I can acquire more knowledge

Bsp Term Paper Essay Example for Free

Bsp Term Paper Essay It came up with the rudiments of a bill for the establishment of a central bank for the country after a careful study of the economic provisions of the Hare-Hawes Cutting bill, the Philippine independence bill approved by the US Congress. During the Commonwealth period (1935-1941), the discussion about a Philippine central bank that would promote price stability and economic growth continued. The country’s monetary system then was administered by the Department of Finance and the National Treasury. The Philippines was on the exchange standard using the US dollar—which was backed by 100 percent gold reserve—as the standard currency. In 1939, as required by the Tydings-McDuffie Act, the Philippine legislature passed a law establishing a central bank. As it was a monetary law, it required the approval of the United States president. However, President Franklin D. Roosevelt disapproved it due to strong opposition from vested interests. A second law was passed in 1944 during the Japanese occupation, but the arrival of the American liberalization forces aborted its implementation. Shortly after President Manuel Roxas assumed office in 1946, he instructed then Finance Secretary Miguel Cuaderno, Sr. to draw up a charter for a central bank. The establishment of a monetary authority became imperative a year later as a result of the findings of the Joint Philippine-American Finance Commission chaired by Mr. Cuaderno. The Commission, which studied Philippine financial, monetary and fiscal problems in 1947, recommended a shift from the dollar exchange standard to a managed currency system. A central bank was necessary to implement the proposed shift to the new system. Immediately, the Central Bank Council, which was created by President Manuel Roxas to prepare the charter of a proposed monetary authority, produced a draft. It was submitted to Congress in February1948. By June of the same year, the newly-proclaimed President Elpidio Quirino, who succeeded President Roxas, affixed his signature on Republic Act No. 265, the Central Bank Act of 1948. The establishment of the Central Bank of the Philippines was a definite step toward national sovereignty. Over the years, changes were introduced to make the charter more responsive to the needs of the economy. On 29 November 1972, Presidential Decree No. 72 adopted the recommendations of the Joint IMF-CB Banking Survey Commission which made a study of the Philippine banking system. The Commission proposed a program designed to ensure the system’s soundness and healthy growth. Its most important recommendations were related to the objectives of the Central Bank, its policy-making structures, scope of its authority and procedures for dealing with problem financial institutions. Subsequent changes sought to enhance the capability of the Central Bank, in the light of a developing economy, to enforce banking laws and regulations and to respond to emerging central banking issues. Thus, in the 1973 Constitution, the National Assembly was mandated to establish an independent central monetary authority. Later, PD 1801 designated the Central Bank of the Philippines as the central monetary authority (CMA). Years later, the 1987 Constitution adopted the provisions on the CMA from the 1973 Constitution that were aimed essentially at establishing an independent monetary authority through increased capitalization and greater private sector representation in the Monetary Board. The administration that followed the transition government of President Corazon C. Aquino saw the turning of another chapter in Philippine central banking. In accordance with a provision in the 1987 Constitution, President Fidel V. Ramos signed into law Republic Act No. 7653, the New Central Bank Act, on 14 June 1993. The law provides for the establishment of an independent monetary authority to be known as the Bangko Sentral ng Pilipinas, with the maintenance of price stability explicitly stated as its primary objective. This objective was only implied in the old Central Bank charter. The law also gives the Bangko Sentral fiscal and administrative autonomy which the old Central Bank did not have. On 3 July 1993, the New Central Bank Act took effect. The BSP’s Organizational Structure The Monetary Board, which exercises the power and functions of the BSP, such as the conduct of monetary policy and supervision of the financial system. The Monetary Stability Sector, which takes   charge of the formulation and implementation of the BSP’s monetary policy, including serving the banking needs of all banks through accepting deposits, servicing withdrawals and extending credit through the rediscounting facility, The Supervision and Examination Sector, which enforces and monitors compliance to banking laws to promote a sound and healthy banking system, and The Resource Management Sector, which serves the human, financial and physical resource needs of the BSP. The powers and function of Bangko Sentral are exercised by its Monetary Board, whose seven members are appointed by the President of the Philippines. As provided for by the New Central Bank Act, one of the government sector members of the Monetary Board must also be a member of the Presidents Cabinet. Members of the Monetary Board are prohibited from holding certain positions in other government agencies and private institutions that may give rise to conflicts of interest. The members have fixed, overlapping, terms, except for the cabinet secretary representing the incumbent administration and it was the expansionary. The current members of the Monetary Board are: * Amando M. Tetangco, Jr. , Chairman * Cesar Purisima * Peter Favila * Ignacio Bunye * Juanita D. Amatong * Alfredo C. Antonio * Nelly F. Villafuerte The BSP’s primary objective is to maintain price stability conducive to a balanced and sustainable economic growth. The BSP also aims to promote and preserve monetary stability and the convertibility of the national currency. The BSP provides policy directions in the areas of money, banking and credit. It supervises operations of banks and exercises regulatory powers over non-bank financial institutions with quasi-banking functions. Under the New Central Bank Act, the BSP performs the following functions, all of which relate to its status as the Republic’s central monetary authority. * Liquidity Management. The BSP formulates and implements monetary policy aimed at influencing money supply consistent with its primary objective to maintain price stability. * Currency issue. The BSP has the exclusive power to issue the national currency. All notes and coins issued by the BSP are fully guaranteed by the Government and are considered legal tender for all private and public debts. Lender of last resort. The BSP extends discounts, loans and advances to banking institutions for liquidity purposes. * Financial Supervision. The BSP supervises banks and exercises regulatory powers over non-bank institutions performing quasi-banking functions. * Management of foreign currency reserves. The BSP seeks to maintain sufficient international reserves to meet any foreseeable net demands for foreign currencies in order to p reserve the international stability and convertibility of the Philippine peso. Determination of exchange rate policy. The BSP determines the exchange rate policy of the Philippines. Currently, the BSP adheres to a market-oriented foreign exchange rate policy such that the role of Bangko Sentral is principally to ensure orderly conditions in the market. * Other activities. The BSP functions as the banker, financial advisor and official depository of the Government, its political subdivisions and instrumentalities and government-owned and -controlled corporations. A payments system comprises the cultural, political, legal, economic and business practices and arrangements that is used within a market economy to determine, store and exchange value or ownership of goods and services. Properly functioning payments systems enhance the stability of the financial system, reduce transaction costs in the economy, promote the efficient use of financial resources, improve financial market liquidity and facilitate the conduct of monetary policy. Central banks have a strong interest in promoting safety and improving efficiency in payments systems as part of their overall concern with financial stability. Central banks play a key role in the domestic payments system because it is their liquid liabilities—more particularly their reserve balances—that are the instruments in which the bulk of domestic payment obligations are legally finally settled. This pivotal role reflects, in part, the central bank’s statutory legal tender monopoly. Payment is a transfer of value. At its basic level, a payments system is a mechanism agreed upon by buyers and sellers in transferring value between them in order to consummate a particular transaction. A payments system facilitates the exchange of goods or services in an economy. A payment instrument is always required for each payment transaction to supply the term and conditions for the transaction, which should meet physical, legal and regulatory standards. Transfer of goods or services Goods flow Value flow Transfer of value through a payments system Seller Payee Flow of Payments System Buyers and Sellers, Payors and Payees Buyer Payor There are two general classifications of payment instruments, namely: cash or non-cash payment instruments. Cash is generally paper-based while the non-cash instruments are either paper-based or electronic-based. Non-cash payment instruments can be classified further into cheque payments, direct electronic funds transfers and card payments. Under the general structure of the payments system, the payments system consists of the set of arrangements for discharging obligations assumed by economic actors whenever they acquire real or financial resources, including the institutions providing payment services, the various instruments used to convey payment instructions, the means of transferring those instructions (including communications channels), and the contractual relationship among the parties concerned. One of my subject had affected was my major subject and that is Cost Accounting. Based on my own observation Cost Accounting had been affected throughout the Educational Tour of BAS. It affected me a lot because in terms of the hours that we pay on that subject it ruined and besides in terms in the subject we missed the lesson that should be took up on us on that day. But, Unfortunately, I’m not totally affected on that day, I learned a lot because our getaway tour is not all about fun. It is just like you are still studying but outside the campus.

Impact of Consumer Credit Laws

Impact of Consumer Credit Laws In today’s consumer based society, the need for credit is undoubted. More and more individuals and organisations are reliant upon credit to undertake their day to day activities, thus the role of credit in society has magnified in unmeasurable amounts. There are also more personal credit products available on the market than when the original Consumer Credit Act 1974 was drawn up, thus there is more of a need to regulate these products and the relationships between creditor and debtor in order to avoid any unfair conduct on the part of either party. As the Government White Paper suggests: The laws governing this market were set out a generation ago. In 1971, there was only one credit card available; now there are 1,300. 30 years ago,  £32m was owed on credit cards; now it is over  £49bn. The regulatory structure that was put in place then is not the same as the regulatory structure required today. As the credit market has developed, reforms have become necessary to modernise the current regime and update it for the 21st century.[1] This evidence clearly supports the idea that the previous rules governing consumer credit relationships are significantly outmoded and outdated, and are in dire need of updating and reworking to meet the needs of a modern society. The nature of the relationship between a debtor and their creditor or supplier has subsequently become more complex and legalistic, and requires rules that govern these specific relationships without relying upon the general principles that can be found in, say, the Unfair Terms in Consumer Contracts Regulations 1999, which will be discussed in more detail in due course. This brief intends to consider the new provisions of the Consumer Credit Act 2006 and determine whether this legislation goes too far in protecting the rights of debtors, as opposed to the rights of creditors and suppliers. These conclusions will be drawn based upon consideration of the primary legislation, including the previous Consumer Credit Act 1974, as well as the apparent diverse and conflicting nature of secondary sources on this issue. It appears that a number of viewpoints could be explored, and this brief intends to do just that in order to arrive at the most appropriate conclusion. The Government had already completed a review of the 1974 Act in its White Paper, which will be discussed shortly. This Paper identified key areas where the law was not protecting the rights of consumers, and often allowed credit companies to take advantage of vulnerable individuals in order to rise to the top of what has effectively become a crowded and cut-throat marketplace. Each company is trying to sell its product to consumers, each trying to maximise the revenue it can make from it. In order to avoid innocent Britons from being exploited by unregulated corporations, the Government commission its review into the Consumer Credit Act 1974 before drafting the Consumer Credit Act 2006, in order to ensure that the new law was going to address the most salient of concerns of con sumers. It was also important to define who should be afforded protection under the new law. Should it be aimed at the general British consumer, or should it have specifications that restrict who could rely upon these provisions based upon certain socio-economic factors? This is where this report will begin. Perhaps the best place to begin would be to continue considering the DTI’s White Paper on consumer credit in the 21st century. While it does not consider the current Consumer Credit Act 2006 in express terms due to its publication several years before its enactment, it does highlight the perceived inadequacies of the then existing consumer credit protections of the Consumer Credit Act 1974. Firstly, it appears that the Government is concerned with establishing a transparent marketplace that prevents debtors from being taken advantage of by creditors and suppliers. It plans to accomplish this by having clear and effective regulations in place to govern the use of advertising in selling credit products.[2] This intends to address the inadequacies provided not only by the 1974 Act, but also by the Consumer Credit (Advertisements) Regulations 1989 due to the recently explosive nature of consumer credit products and contracts. The rationale behind such a move by the government can only be suggested to attempt to protect the consumer against any deceptive or misleading conduct by creditors through advertising promotional campaigns that could unduly influence them into entering into consumer credit contracts which do not specifically cater for their needs or financial situations. This would be consistent with the notion that the intention of the 2006 Act is to protect the consumer/debtor more so than the creditor, due to their more vulnerable position in the marketplace. Quite obviously, disparity does exist between the negotiation and contractual powers of debtors and creditors, and thus the intention of the Government is to create a more level playing field, allowing them to do business in a manner which is not only legal, but also moral and ethical. Another way the Government claimed this will be done in its White Paper was through standardisation of the form of consumer credit contracts.[3] This would, theoretically, ensure that there are minimal difference s between the standard terms of a consumer credit contract regardless of who the credit provider was, and regardless of what the actual lending product was. Again, this clearly is intended to protect the debtor more so than the creditor, given the disparity in contractual and negotiation abilities and resources available to the two parties. The Government even intends to reflect the changes in the way we contract that have come into existence since the 1974 Act, including online contracts. The rationale behind this is that the use of the internet in contractual dealings can often lead to an increased possibility of fraud on the part of either party.[4] What this means is that one could quite possibly enter into a contractual agreement through an online method without going through the full stringent identity criteria as they might be required to if they were personally entering into this agreement at, say, a bank. Normally a 100-point ID check, or similar procedure, may be used or r elied upon by a creditor in order to ensure that they were dealing with the person whose name appears on the contractual documents. However, this may also extend to a debtor where the reliability of the credit provider could not be ascertained. This protection would then effectively protect both the creditor and debtor to ensure that the contract was reliable, and that the correct person or entity was included as a party to the agreement. Perhaps the most important aspect of the Government White Paper regarding consumer credit contracts is the introduction of more stringent licensing criteria for credit providers. The Government’s hope, in 2003, was that the reform to the consumer credit laws would give the Office of Fair Trading more power to investigate credit providers to ensure that they were complying with the terms of the license granted upon them. Previously, the DTI claimed that the tests that a credit provider was required to pass to gain a license only determined whether they initially met these criteria, and did not illustrate whether they continued to meet the criteria, and thus remain fit to provide credit to consumers.[5] This would, theoretically, maintain the integrity of the consumer credit industry, making it much safer for consumers to deal in the sometimes overwhelming credit market. Again, this appears to be protecting the consumer’s interests more so than those of the credit supplie r. The DTI has identified a number of areas that the Consumer Credit Act 1974 was lax in upholding and protecting in the interests of consumer credit, and it would appear that, based upon the general consensus of this White Paper (a fundamental research document that highlights the Government’s intention in reforming particular laws) that the DTI is more concerned about consumers being taken advantage of due to developments in the credit market that tend to fall outside the scope of the 1974 Act. This is mainly due to social and technological advances that were not within comprehension at the time the 1974 Act came into enforcement and a lack of reform since that time. However, while the shortfalls of the Act have been duly illustrated by the DTI, what if a consumer continues to have a problem with a credit contract? To what institution do they turn to exercise their right of redress? The DTI uses its White Paper to harangue the idea of the Financial Ombudsman Service being e mpowered to investigate contractual dispute involving consumer credit. This would create an alternative dispute resolution pathway that may ultimately avoid the pomposity, risk and financial burden that was previously required in order to take a matter to court. Rather, this would make the dispute resolution procedure much more appealing and affordable to a consumer, giving them more opportunity to vindicate their legal rights where they might otherwise be precluded from doing so due to pressing financial commitments. This does gear itself towards the consumer more so than the creditor, as a credit providing company would presumably have a greater access to legal expertise and resources by comparison to the individual person, thus the DTI found it prudent to address the shortfalls of the 1974 Act in protecting individual debtors. While these have all been appropriately illustrated by the DTI’s White Paper, it is important to note that this was simply and analysis of the 1974 Act in conjunction with today’s developing credit-based society, and does not in itself give rise to any legal effect. It does, however, point out the reasons behind the Government’s wish to reform consumer credit laws, and gives one a way to measure the effectiveness of the now enacted Consumer Credit Act 2006 by applying these criteria. It is now important to consider the express provisions of this Act in order to determine whether these shortfalls identified by the DTI have been adequately addressed and protected by the new Act. Before considering the possible codification of the DTI’s discussion in the Consumer Credit Act 2006, it is important to establish the scope of application for this Act. It does not apply to businesses or corporations who enter into consumer credit contracts solely for business purposes. Rather, it serves to protect individuals that may be at less of a negotiation or contracting position than what a business would which may have access to virtually unlimited capital. The 2006 Act defines an ‘individual’ as: (a) a partnership consisting of two or three persons not all of whom are bodies corporate; and (b) an unincorporated body of persons which does not consist entirely of bodies corporate and is not a partnership.[6] The inclusion of these two categories as ‘individuals’ for the purposes of the Act gives more people protection under the Act than what may have been afforded otherwise under the 1974 Act, thus ensuring more consumers are protected. It clearly precludes large businesses and corporations from seeking protection under the Act, thus ensuring that only those who may not necessarily be able to provide their own legal protection are protected by law from being taken advantage of. Additionally, section 2 of the 2006 Act removes the previously existing financial limits for protection under the Act ( £25,000)[7] thus broadening the scope of application, however section 3 excludes consumers with a ‘high net worth’ from also obtaining protection under the Act, which subsequently re-limits the scope of application to those consumers who really are in need of consumer protection. The presence of these provisions in the 2006 Act suggests that the intention of the Act is to provide protection for those that may otherwise be at a disability to do so of their own will and accord. One of the most important changes that the 2006 Act has made to consumer credit regulation is the ability of a court to now hear matters relating to unfair credit relationships. The powers of the court in such circumstances have been defined, as have the procedural requirements for bringing such a matter before a court.[8] Under the newly amended sections of the 1974 Act, a court must have regard for the following factors when adjudicating on the issue of an unfair relationship: (a) any of the terms of the agreement or of any related agreement; (b) the way in which the creditor has exercised or enforced any of his rights under the agreement or any related agreement; (c) any other thing done (or not done) by, or on behalf of, the creditor (either before or after the making of the agreement or any related agreement).[9] Additionally, the remedies available to the court include: (a) require the creditor, or any associate or former associate of his, to repay (in whole or in part) any sum paid by the debtor or by a surety by virtue of the agreement or any related agreement (whether paid to the creditor, the associate or the former associate or to any other person); (b) require the creditor, or any associate or former associate of his, to do or not to do (or to cease doing) anything specified in the order in connection with the agreement or any related agreement; (c) reduce or discharge any sum payable by the debtor or by a surety by virtue of the agreement or any related agreement; (d) direct the return to a surety of any property provided by him for the purposes of a security; (e) otherwise set aside (in whole or in part) any duty imposed on the debtor or on a surety by virtue of the agreement or any related agreement; (f) alter the terms of the agreement or of any related agreement; (g) direct accounts to be taken, or (in Scotland) an accounting to be made, between any persons.[10] Essentially these provisions allow a debtor to challenge a consumer credit contract on the basis of it being ‘unfair’ to them, and empower a court to take remedial action where the law was previously vague and uncertain. It affords the debtor further protection from a creditor, given them a clear indication of their rights where they believe they have fallen victim to unfair conduct. It may serve to exonerate them from a contract they were having difficulty to adhering to because the terms were quite clearly outside their ability to keep to, or similar arguments. While this does not fall under the jurisdiction of the Ombudsman, which will be discussed shortly, it still allows a debtor to seek protection from the law from a consumer credit contract that they must have otherwise been contractually obliged to perform. This does not suggest that avoidance of a contract under these provisions is easier by any means as just cause still needs to be shown pursuant to the rules a nd principles of evidence and court, however there is no disputing the fact that this statutory remedy is available to those who are in dire need of exercising it where a contract can be construed as being unfair. Unfairness may result from the terms of the contract itself, or from any conduct by the creditor arising after the commencement of the agreement, thus this legislation appears to be catering more for the debtor than the creditor. These provisions specifically cover, in their express terms, any unfairness arising from the conduct of the creditor, as does not relate to the debtor as such. When viewed in conjunction with the application and definition provisions outlined above, it is clear that this law only intends to serve the individual, and not the creditor. In addition to the ‘unfair relationship’ protection through the courts afforded to debtors by the introduction of the 2006 Act, it also contains an alternative dispute resolution pathway that can often avoid a long and arduous litigation process. Sections 59-61 of the Consumer Credit Act 2006 confer powers upon the Financial Services Ombudsman to hear any disputes that involve licensed persons (i.e. a credit provider company licensed under the 2006 Act, which will be discussed shortly), and will also bind these license holders to abide by any decisions made by the FSO in accordance with Schedule 2. Section 59 of the Act requires that any person holding a license to provide consumer credit must submit to the jurisdiction of the Financial Ombudsman Service in order to resolve any disputes which the FOS is empowered by the Act to hear. In order for the dispute to fall within the scope of the jurisdiction of the FOS, it must meet the eligibility criteria outlined in the new section 226A of the Financial Services and Markets Act 2000 (inserted by the 2006 Act), which are: (a) the complainant is eligible and wishes to have the complaint dealt with under the scheme; (b) the complaint falls within a description specified in consumer credit rules; (c) at the time of the act or omission the respondent was the licensee under a standard licence or was authorised to carry on an activity by virtue of section 34A of the Consumer Credit Act 1974; (d) the act or omission occurred in the course of a business being carried on by the respondent which was of a type mentioned in subsection (3); (e) at the time of the act or omission that type of business was specified in an order made by the Secretary of State; and (f) the complaint cannot be dealt with under the compulsory jurisdiction.[11] Essentially, if the complaint is one that falls under the compulsory jurisdiction of the Financial Ombudsman Service that is granted under section 226 of the Financial Services and Markets Act 2000, then it will not fall under the new consumer credit power. The presence of these provisions makes it more effective and less costly for an aggrieved person to raise a dispute with a consumer credit contract that they have entered, which can (and most likely will) avoid the matter proceeding before a court. This makes the dispute resolution process more accessible for individual persons that may not have otherwise had the available funds to commence a legal action in court. Finally, the other main practical change that the Consumer Credit Act 2006 has made to credit law is the introduction of more stringent licensing criteria for businesses and companies wanting to enter the market to sell credit products to consumers. Section 38 of the 2006 Act inserts a provision in the 1974 Act at section 33A which empowers the Office of Fair Trading to make regulations that will govern the distribution of licenses to these parties. This allows the Government the flexibility to adapt the regulations to address the changing social climate in a way that the broad framework of the 1974 Act could not. This would, then, allow the Government to impose regulations on advertising and other consumer interaction which may otherwise escape the broad legal framework of legislation. Additionally, section 44-46 of the 2006 Act specify requirements in relation to the provision of licensing assessment information (and changes thereof) by license applicants to the OFT, which allows t he OFT to make a continual assessment as to the fitness of a party to hold a credit provision license. This was one of the key shortfalls that the White Paper suggested, and appears to have been addressed adequately in the new law. Civil penalties of up to  £50,000 now apply if a licensed person or business fails to comply with the conditions of its credit provision license.[12] Finally, an appeals system has been established by sections 55-58 of the 2006 Act which allow for appeals against a decision by the OFT to grant a license to an applicant, which gives rise to a method of review via the newly established Consumer Credit Appeals Tribunal. This provides for an administrative review of the decisions handed down by the OFT in relation to their licensing and regulative powers within the Act, which may be able to be judicially reviewed by the Court of Appeal with the leave of the Court (on questions of law, not fact).[13] This appeal procedure again appears to be consistent with the notion that the rationale of the Consumer Credit Act 2006 is to protect the rights and interests of debtors as opposed to those of creditors and suppliers. It appears that the idea of this Act is to saturate the market with new regulations that control the way creditors enter into consumer credit contracts with their debtors, and does not necessarily cater for the needs of creditors as such. In conclusion, it would appear that the Consumer Credit Act 2006 caters more so for the rights and interests of debtors than those of creditors, however it would be difficult to maintain an argument to suggest that the law goes too far in protecting these rights. The Government White Paper identified a number of salient points that the 1974 Act did not address, and the Government has appeared to have legislated accordingly. Given that the previous 1974 Act was significantly outdated and not particularly relevant to modern society in both a social and legal context, there was a real need for this law to be updated in order to afford consumers maximum protection against otherwise unfair conduct that was not recognised in law. The law was updated more out of necessity than out of spite for consumer credit providers. The application of these laws does not generally appear to infringe on the rights of credit providers, it merely suggests that the market needs more stringent controls to av oid certain parties taking advantage of otherwise vulnerable individuals. The rationale behind the introduction, as the White Paper suggests, was to create a fairer and more transparent consumer credit market, which gave the individual more competitive and legitimate rights that they are now able to exercise in an attempt to remove the disparity between consumers and credit providers in terms of their negotiation and contractual abilities. There appears to be no malice or ill-will by the Government towards credit providers, rather just a desire to exercise control in an area of commerce that has expanded exponentially since the law was last reviewed more than a generation ago. The flexibility provided under the new Act through delegation of regulative powers to the OFT and Ombudsman also allows the law to be updated as society dictates, which ensures that the law will always be given the opportunity to reflect the needs of consumers as the market changes. This means that this debate will continually be revisited as the market expands and changes and, if there is a need to review the law in the future, there is no need to go through the lengthy legislative process which has dragged this legislation through 18 months of parliamentary delays, especially due to the calling of the 2005 General Election after the Bill was only passed its Commons stages. This law appears to be perfect for the current socio-economic climate of the British consumer credit market, and to argue that it goes too far in protecting consumer’s rights is simply untenable. Bibliography Legislation Consumer Credit (Advertisements) Regulations 1989 Consumer Credit Act 1974 Consumer Credit Act 2006 (also, explanatory notes) Financial Services and Markets Act 2000 Unfair Terms in Consumer Contracts Regulations 1999 Government Publications Department of Trade and Industry, Fair, Clear and Competitive: The Consumer Credit Market in the 21st Century (2003), Journal Articles/Other Sources John, C, ‘Consumer Credit – The New Landscape’ (2006) 18 Compliance Monitor 9 Singleton, S, ‘In Focus: Consumer Credit Act 2006’ (2006) 29 Consumer Law Today 8 Smith, J, ‘Practice Points: Credit Where Credit Is Due’ (2006) 103.25 Law Society Gazette 34 Unknown, ‘Consumer Credit: A New Age But Old Problems’ (2004) 6 Finance and Credit Law 1 Footnotes [1] Department of Trade and Industry, Fair, Clear and Competitive: The Consumer Credit Market in the 21st Century (2003), 4. [2] Ibid, 30-33. [3] Department of Trade and Industry, as above n 1, 33-36. [4] Ibid, 37-40. [5] Ibid, 45-48. [6] Consumer Credit Act 2006, s 1. [7] Consumer Credit Act 1974, s 8. [8] Consumer Credit Act 2006, ss 19-22. [9] Consumer Credit Act 1974, s 140A(1). [10] Consumer Credit Act 1974, s 140B(1). [11] Consumer Credit Act 1974, s 226A(2). [12] Consumer Credit Act 1974, s 39A (as amended). [13] Consumer Credit Act 1974, s 41A (as amended).

Moral Standards In Advertising Media Essay

Moral Standards In Advertising Media Essay Ethics of advertising can be defined as ethical activity, corresponding not only to law but also to moral principles. Although the normal ethics considers implementation of laws as a basic or minimal level, ethical side of advertising actually goes far beyond the simple implementation of laws. The basis of ethical decisions is formed on a series of concepts: obligations to the society, accountability to both internal (company or client) and external (publicity) parties, and latent intentions of advertising. While advertising is pervasive being an element of the environment, ethical advertisers are responsible for taking into account the expected and possible unintended consequences of their activities. One of the fundamental principles of the free market society is that consumers make free and informed choice. It is consumers who vote with their money and determine the behavior of companies. Advertising is the function of business, which transfers this principle into practice. By definition, consumers cannot make an informed choice without information obtained from advertising. It is no wonder that truth in advertising is regarded as one of the central ethical principles of doing business. In other words, everything said in the advertisement should correspond to the reality. Challenging this rationale, advertisers sometimes deal with ethical problems with the way advertising is created and executed. Often, the question concerns the borders of permitted activity in using such prevalent in advertising approaches, as inflation (exaggeration of the merits of the advertised goods or services), metaphor and hyperbole. For example, an advertisement, running that restaurant X situated in East Side is the best Italian restaurant in the world, is strictly speaking, hardly true. But the advertisers are hoping that they are dealing with an audience, well versed in advertising (i.e. the audience, disillusioned about the main purpose of advertising to sell the advertised product and the means to achieve this goal). Such an informed, sober-minded audience can make allowances for the usual exaggeration in advertising. This means that advertising may, without violating ethical standards, contain symbols, illustrations, similes and metaphors enhancing its assertions. However, the situation is much more serious with advertising which deliberately deceives or misleads the consumers. Deceptive advertisement latently provides only partial information on products or contains statements about the price which mislead the consumers. The same concerns advertisement containing accurate information, but presented in an incomprehensible for the consumer form, or in an integrated form inside a newspaper or magazine article, or as part of a television or radio program. Many consumers also fear that some types of advertising are influencing the subconsciousness. Since these messages get to the consumer bypassing the consciousness and sensory perception, they are often not only unethical, but also illegal, because they can manipulate the freedom of consumer choice. Despite the fact that studies have shown the ineffectiveness of subliminal techniques (e.g., the notorious 25-second frame), the public is still suspecting advertisers in the wide use of such techniques. Ethical issues also arise in the case of participation of celebrities in advertising. Famous sports and movie stars can significantly affect the decision making process of the consumers. Therefore, officially thereve been developed specific recommendations for the creation of such advertising in order to make it more ethical. The character of advertising should be a user of an advertised product, and his statements must fairly reflect his personal opinion. All statements made by the character must have actual proof. Concerns about advertising with celebrities are so great that in some countries such as Canada, it is prohibited for certain product categories, such as alcoholic beverages and certain childrens products. Criticism is also justified in cases of some advertising methods, in particular, playing on fear of consumers. For example, advertising of a certain kind of cereal containing oat and bran was built on fears of cancer. However, these products do not factually contain more fiber than many other natural foods, and they increase the chance to prevent only one kind of cancer, whereas the advertising considered the prevention of cancer in general. Such advertisement can be considered misleading, manipulating the audience and exploiting the feelings of consumers. At the same time, the visual part of the advertisement deserves no less than the text. Since consumers typically pay more attention to images than to the text accompanying them. In particular, the claims involve the fact that the advertisement shows the product bigger than it really is. Another example of unethical imaging is the way advertising depicts women. Using models for the advertisement, advertisers also apply special methods of processing images, allowing characters to look perfect, with absolutely no pigment spots and wrinkles. This actually presents a process of forming an ideal image, unattainable in real life. Attempts of female consumers to become similar to those ideal models finally ends in disappointment, feeling unhappy, loss of self-esteem, inferiority complex, and even guilt. Models are tall and extremely slim; in an effort to be like them, some young women and girls being unable to do anything with their height, direct all their eagerness to their extra pounds, s ometimes bringing themselves to anorexia. Heated discussion also surrounds the image of women in advertising of household goods, where they invariably appear as the main executors of domestic work, showing them on the sidelines of family decision making process. Women are also often unethically shown as sexual objects, but nowadays this aspect is complexified by the modern tendency to depict men in the same way, together with the ambiguity of child images in advertising. Sometimes kids are shown in sexual poses with the provocative make-up, and half-dressed, while new styles of advertisement try displaying certain parts of human body as the main objects of the image, which is only emphasizing sexuality. Older people represent another group of people, harmed by stereotypes which generate from advertising. Feeble, trembling, wrinkled old people, unable to solve simplest tasks, are being targeted with advertising humor. However, this advertising image of elderly people is often very far from reality, in which the elderly lead a ctive and interesting life. Many advertisers state that advertising does not create reality, but only holds a mirror which reflects the society. But if that was true, we would see the images of various social groups in the advertisement. However, the characters (with both genders) of most of the advertisements in North America and Europe are young, slim, smart and extremely athletic. While some advertisers are beginning to realize the importance of different cultural groups, the number of ads with black skin people is growing; but the characters of Asian, and Hispanic origin are still met relatively rarely. Advertising also never positions disabled people, and the elderly are participating only in advertising of dentures and nutritional supplements for elderly people. In addition, certain segments of the population could perceive everything shown in the advertisement as the reality, or misunderstand the special conditions or precautions on the proper use of advertised goods (immigrants, some elderly consumers, children, people lacking education, etc.), which shouldnt be just used for the benefit of a company. A well-known example is the case of advertising offering children to call Santa Claus on a pay telephone numbers beginning with 900. Many children (including those staying at home after school without their parents) called on those numbers without realizing the size of bills that could come for such a conversation. Moral standards of advertising are based on the principles of freedom of choice and freedom of action. These principles come from the belief in the benefits of the free market economy. Informed consumers have freedom of action; they regulate the business activities of companies with their individual purchase decisions. Consumers right to freedom of choice is consistent with two other principles: freedom from coercion and freedom from harm. Advertising should not use unfaithful techniques in order to persuade consumers or manipulate them, pushing to a bad choice. Faithful advertising, which imparts accurate information, is an indispensable condition for consumers; informed decisions about products and services. Nowadays, advertising detached from unethical standards may be unique and sets the standard for the industry. It has value to both clients and consumers. Thus, the terms ethics of advertising and moral standards in advertising are not just a combination of mutually exclusive co ncepts, but without a doubt, present normal business practices.

Odysseus: Heroes Essay -- essays research papers

Odysseus: Heroes A hero is a brave and strong person, who is also very human. A hero feels fear and every other emotion that we do. A true hero is a person who does something great and does not expect to be given any thing in return. A hero does something that effects a large number of people. A hero thinks more of others than he or she thinks of him or her self. The characters in the poem, "Women", and The Odyssey are both epic heroes. Odysseus is a strong and brave man, but I think he lacks one of the major characteristics of a hero. I think he thinks of himself more than of others. I think the characters in the poem, "Women," are better heroes because they can be related to easier. I don't think the poem characters are like an epic hero because they are less into them selves than an epic hero. They also seem to have done lesser things, I mean epic heroes always do something so great, like take twenty men on, or lead an army to victory. Everyday heroes seem to be more realistic and do something that's great, but its not written up in every news paper in the country. Odysseus is a brave man that did great things. In The Odyssey he conquers a monster using smarts and strength. He also looks out for his crew mates. He is faithful to his wife, well, in his mind he is. He kills many men on his own in a battle at his home. He cries a coupl...

American Slavery :: Slavery Essays

  The purpose of this report was for me to research and explore the connection between African American women and music.  Ã‚  Since prior to the slave decades, music has been an integral part of African American society, and served as a form of social, economic, and emotional support in African American communities in the past and present.  Ã‚  This paper will cover three different types of secular music that emerged during the slave days, through the civil war, reconstruction, and depression periods.  Ã‚  They are blues, jazz, and gospel music.  Ã‚  Each of these forms of music are still in existence today.  Ã‚  In addition to exploring the history of each of these genres of music, this report will identify three African American female music legends, Bessie Smith, Emma Barrett, and Mahalia Jackson. Blues emerged in the period between the end of the civil war, and the beginning of the 20th century.  Ã‚  Originating in the fields of the rural south, it became popular after the emancipation of the slaves.  Ã‚  In this form of music, the singer and composer is one in the same, a characteristic not evident in the spiritual songs of the slave communities.  Ã‚  Spirituals were somewhat of a passage way for blues.  Ã‚  Blues followed blacks to urban societies as spirituals followed the slaves onto the plantations.  Ã‚  The differences between these types of music were that spirituals were collective, whereas an individual sang blues.  Ã‚  Blues attributed to the evolution of black society toward individualism after the collective society of slavery.  Ã‚  Blues became know as the music of the black working class.  Ã‚  It was a way for African Americans to express the modern problems of economics, social errors, and poverty and power struggles they faced after they became free.  Ã‚  African Americans were still living in unjust societies, where jobs were hard to find.  Ã‚  They began to migrate north, but the case remained the same.  Ã‚  They used music for economic gain in nightclubs, corner halls, publishing, and recording.   Ã‚  Ã‚  Ã‚  Ã‚  One of the greatest African American female blues singers was Bessie Smith.  Ã‚  She was born on April 15, 1894 or 1898.  Ã‚  The exact date is unknown.  Ã‚  Her father William was a preacher, who died when Bessie was very young.  Ã‚  This left her mother to raise seven children on her own.  Ã‚  When Bessie was nine years old, her mother Laura had passed away, and two of her brothers had died as well.  Ã‚  The oldest sister brought up the five remaining brothers and sisters.  Ã‚  Prior to the death of Bessie’s mother, she was singing on a street corner to the accompaniment of her brother’s guitar.

Homelessness as a social problem Essay

Homelessness is a social problem and is the condition of people who lack regular housing. Homeless people are often considered to have little necessities such as food, shelter, money or medical help. They would usually spend their night uncomfortably on the streets or temporarily in a hostel. Some people may reside in their friends house on a sofa or on their floor with a blanket. Some of the factors why people become homeless are due to domestic violence, relationship breakdown, fleeing persecution from another country, drugs and alcohol misuse,family disputes and mental health problems. Another common reason why people are homeless is that they cannot keep a steady job, therefore they cannot pay for their rent or they cannot pay their bills so resort to being homeless. Some people receive little income from their jobs which is not enough for them to pay all the bills or buy enough food or get themselves any clothes. Homeless people would turn to begging on the streets to provide so me money for themselves and purchase the little food they can get with the money. Birmingham last year is said to have had the highest number of people homeless in the country with figures reaching to 925 households.Homelessness can be caused by physical or sexual abuse from their families and so they may choose to run away and seek refuge on the streets. For homeless people, there are the good days and the bad days.The good days include the homeless getting reasonable amount of money in which they may receive 10 pounds by panhandling an hour. The bad days involve inflation or recession in which case they would receive very little and undergo starvation for the night. Some Homeless people may find other ways overcoming the problem of homelessness; one of which is going to prison. This way they will receive accommodation and enough food for them to eat which prevents them from starving.