Consider the mediatisation of warfare. Does the rise of social media Essay

Consider the mediatisation of warfare. Does the rise of social media change the ability of western military to control perceptio - Essay Example The government resources and power was no match for the hordes of people which were notified through the social media about where and when to meet for rallies and demonstrations. The Egyptian civil war was known as the Facebook Revolution, largely in recognition for the huge role of Facebook and the social media on the turnout of the war in the favor of the majority of Facebook users. This is a phenomenon which would likely be repeated in the future. There have already been incidents when the media and the social media has had an impact on warfare, so much so that it has also affected the western ability to control the perceptions of contemporary conflicts. This essay shall discuss this point further, seeking to answer how the rise of social media change the ability of western military to control perceptions of contemporary conflicts. This essay shall argue that the rise of the social media has decreased the ability of the western military to control perceptions of contemporary confl icts, especially in relation to how these wars are fought, how necessary or unnecessary they may be, how long they are fought, and in what favor the wars should end. Initially, a general overview of the impact of the social media on warfare will be discussed. This shall include a discussion on key theories related to the subject matter. This shall be followed by a discussion of various incidents where the social media has impacted on warfare in different parts of the world. The latter part shall then relate the impact of the social media on how the western military has been able to control (or not control) the perceptions of contemporary conflicts. B. Body In considering the theories discussed during this course, the media determinism theory is likely the closest theory which would help explain the impact of the social media on warfare and the outcomes of warfare (Chandler, 1995). The theory discusses how the media seems to imply a direction in opinions and actions which is not with in the cultural or political influence. There is a belief in this case that the media has a strong governing impact on society. It impacts on how individuals think and how they relate with each other. It drives social progress and innovation. This theory declares that media impacts significantly on society and it can have a significant cause and effect relationship with society (Chandler, 1995). Media technologies, including the social media can bring about change in society. This theory is a simplistic assessment of complicated situations, with cause and effect relations decreased to their lowest premise, sometimes managed in those conditions. Innis and McLuhan have applied this theory as they declare how the media can shape a person’s and society’s self-perception as well as realization (Chandler, 1995). In general, this theory highlights the fact that the media can impact significantly on how society and technology can impact on the general population. In this case, the social media is an innovation of the media. It is a new aspect of media relations which is also having a similar impact on society and how they understand, perceive, and conceptualize information. In other words, the theory supports the notion that the social

Rudiger Dornbuschs model Essay Example | Topics and Well Written Essays - 1000 words

Rudiger Dornbuschs model - Essay Example Bidian (3) notes the overshooting model will help us understand why: (i.) over the short run, there are deviations from purchasing power parity; (ii.) there is volatility in both the nominal exchange rate and in the real exchange rate. Using the money demand equation1, the UIP condition2 and the PPP condition3, the model uses [where yt is the national income, i* is the international interest rate (exogenous) and p* is the international price level (also exogenous)]: The crucial ingredient is the assumption that prices pt is sticky in short run (Bidian 3). The following figure on the monthly variability of the US dollar/Deutsch mark exchange rate and the US/German price ratio illustrates this point: Benigno (5-7) cites the following outcomes of monetary expansion in the Dornbusch model and the items must be noted in order to determine the long-run effect of the monetary expansion: 1) we know that aggregate demand has to be equal to the long run level of output given by y. Thus, we can conclude that long-run equilibrium will be on the vertical aggregate supply curve; 2) since i* (international/foreign interest rate) did not change, we know that in the long run equilibrium, I (local interest rate) = i*: our IS and LM curve need to return to the original equilibrium. Particularly, the increase in money supply translates into a proportional increase in the price level.3) Since the IS curve depends only on the real exchange rate, this means that the real exchange rate must return to the initial equilibrium. To determine its impact effect (keep in mind that goods market adjust slowly while financial markets adjust instantaneously), note that an increase in money supply determines a d ecrease in the domestic interest rates (the liquidity effect) in order to cushion the excess supply of real money balances (the excess supply brought about by sticky prices).Also, the UIP condition in the Dornbusch model holds which implies that the decline in the domestic interest rate is compatible only if there is an equilibrating change in the nominal exchange rate. In order to keep domestic assets in their portfolio, households must foresee that the nominal exchange rate will appreciate along the path that goes to the long-run equilibrium. Meanwhile, in order to generate expectation of appreciation, the nominal exchange rate overdepreciates (overshoots), so as the domestic currency becomes undervalued that it is expected to appreciate in the future. Given the depreciation of the nominal exchange rate the IS curve then shifts outward. Suppose an unanticipated permanent increase in money supply m occurs, Bidian (4-5) cites the following outcomes to take place: due to fixed prices (in short run) and exogenous output, this means that the interest rates decrease by m/. Since long run money neutrality means that the change in money supply is (fully) incorporated into the price level, hence pt+1 increases by m. Equation (3) implies that in the absence

Effects of Hydraulic Fracturing :: Energy

Advanced technology created the possibility to extract a natural gas beneath the earth which has never been possible before. Oil industries are once again booming deploying hydraulic fracturing method to access the natural gas lies beneath the earth, specifically the Marcellus Formation which contains limestone beds that is black shale or black rock due to presence of iron pyrite and siderites. Marcellus shale formation lie under New York, Pennsylvania, Maryland, West Virginia, Ohio and other parts of the US states according to Parks & Recreation Journal (Dolesh 57). Its vast richness of natural gas is no doubt that it will help America’s energy demand but using hydraulic fracturing to bring that energy to the surface is disturbing the already troubled environment. Although my opponents claim that hydrocracking create jobs and reduce oil imports but it also poses environmental disaster that outweighs its profits which could be irreversible. Environmental disaster such as pollu tion increase, water contamination and risk to the public health in inevitable if gas companies are allowed to continue for drilling America’s soil. As energy demand is increasing throughout the world, America is not least, its demand for energy is increasing and energy supply dependability is at risk. The calls for cleaner energy is at its momentum with production of natural gas using hydrocracking method are deployed vast major cities across America. According to Analysis environment journal released on May 2011 has stated that new Environmental Protection Agency have â€Å"found that greenhouse gas emissions from fracturing are almost 9,000 times higher than previously calculated† this is no surprising because there are no federal regulation on hydraulic fracturing techniques (Nelson 24). Fracking products account 25% in oil industries which will increase in the near future as we are turning to other sources of alternative energy. According to EPA on â€Å"recent research into the complete life cycle of natural gas emissions raises questions about its relative cleanliness† which means as we see the increase of extracting natural gas as means of hydrocracking the pollution will drastically increase. The main component of natural gas is methane â€Å"which leaks from fractured wells or is otherwise released during natural gas drilling, transportation and power-plant accord to CQ Researcher (McGlynn 1054). It’s clear and not concise that emission of methane escaped to the earth’s atmosphere will increase as drilling of hydraulic fracture increases which will create havoc to our already ailing environment. Our existence depends on the accessibility of clean water which our life depends on.

Snowball Speech

Here I am, Comrades, standing in front of you on this fine Sunday morning rested and relaxed while you are all tired and worn out. And why is that, Comrades? It’s because you work Monday all the way through Saturday from dawn to dusk doing miserable, laborious, and backbreaking work. But the pigs, oh the pigs, they don’t work. They sit around and watch you and tell you what to do, but they never work. In fact, they don’t do anything except boss us all around and tell us lies about what they are actually doing. Remember the 7 commandments? The one that says we are all supposed to be equal?Well right now, that isn’t happening because Napoleon and the other pigs are bettering their education, telling you lies so you will believe anything they say, they have even stopped letting you help make decisions about the farm. Does that seem like equality to you? I apologize for being a part of that once. I have seen the error in my ways and I am here to make it up to you, with the windmill. If we build the windmill, you will have to work only 3 days a week, maybe even less, and the work you do will be the easiest work you can imagine.The rest of the time you can spend relaxing or improving your education. With the windmill, the farm will be industrialized, meaning we will be able to have machines that can do most of the work for us. You will be able to have warmth and light in the stalls all year round. This will take some time to build, Comrades, maybe a year, maybe two. But believe me, an industrialized farm, electricity and warmth for the stalls, and only 3 days of work and time to improve your education is worth it. Do you like all the hard work you do each day, Comrades?Are you tired of being tired at the end of each day? I know I would be. It’s not fair to you to work day after day from dawn to dusk doing all the tedious work that you do. But, if we build the windmill we can bring electricity to the farm and build machines to do all the work for us. We can have a circular saw, chaff-cutter, mangel slicer, electric milking machine, threshing machines, ploughs, harrows, rollers, reapers, binders†¦ Anything we can think of, Comrades! With all this, we would work a lot less and what little work we actually do will be extremely less tedious.We will be able to relax during the day, while all the machines even more work in one day then we will be able to do in one month. And to power all these machines, we will use electricity generated from the windmill. Another thing we can do with the electricity is put lights in the stalls and put heaters in the stalls to make them warm in the winter. This is something that Napoleon has because he is living in Mr. Jones house. If we really are supposed to be equal, why can’t we all have light and heat?The light in the stalls will help us be able to see better when it is dark outside or just to have on to make everything brighter. Having the heat in the stalls will mak e it warmer during the winter time so that we won’t freeze and so we can stay healthy. I guarantee you, during the winter Napoleon will stay up in the comfortable house of Mr. Jones and make us still do all the work and then leave us to sleep in the cold at night. But if we build the windmill, then we can stay warm during the day and night and not have to leave the barn as much.And while you are staying warm in the barn during winter, you can be relaxing and improving your education. And you don’t just have to do it in the winter. With the windmill, we will only have 3 days maximum that we will need to work. On our days off, Comrades, you will be able to relax and learn more as well. This is one of the reasons Napoleon doesn’t want the windmill because he doesn’t want you to become smarter. He doesn’t want you to be able to figure what he’s telling you isn’t true and he doesn’t want you to be able to stand up to him.But if you use your extra time to learn, then you will be able to stand up to Napoleon and see through all of his lies. So here I am, Comrades, standing in front of you on this fine Sunday morning rested and relaxed while you are all tired and worn out. I have told you why we need to build the windmill, why we will have to work really hard in order to build it, why we will all be thankful once it is built. We will no longer have to do doing miserable, laborious, and backbreaking work from dawn to dusk every day because you will have machines to do the work for us.We will no longer have to deal with dark and cold stalls while the other pigs are living in the lap of luxury because the electricity from the windmill will give us lights and heaters. We will no longer have any time to rest because with only 3 days a week that we have to work we can relax. And we will no longer go uneducated because we will be able to improve our knowledge. As you know, Napoleon doesn’t want this because he wa nts to be able to control every aspect of our lives. I stand here telling you to go against his wishes and build the windmill so that we will be able to have some power on this farm.

How Stereotypes for Women Came to Be Essay - 1531 Words

If you turn on a TV or open a magazine, you most likely would end up looking at some type of advertisement, even if you do not notice it. According to Media Matters, an average person sees over six hundred advertisements a day, even if they do no not notice the advertisements themselves (2). Just because they do not notice it, does not mean it does not affect them. Stereotypes are everywhere, even when you least expect them. Women especially are overcome by many stereotypes, like how they are treated as housewives and should stay at home cleaning. Women are also portrayed as super moms, where they are shown that they can do anything from balancing kids and cleaning the house, to keeping the husband happy and working full time at a†¦show more content†¦More families started to move to the city due to the industrial revolution. This was a huge change for most families because not many knew how to live in the city. Since so many people were uneducated on how to survive city lif e, many articles were written to help families settle down easier. A majority of these articles had housework and shopping advice and were primarily written to women because the men were at work. Women started to buy most of the household items, which caused many advertisements to be directed to women. By World War II though, the advertising techniques started to change a little bit. Women now knew how to take care of and buy for their family so those types of advertisements were no longer needed. During World War II, advertisers changed their method by making women feel needed outside the home. They started to advertise Rosie the Riveter and other advertisements promoting women to work. These caused women to get the jobs that were left behind when the men went to war. They also made advertisements seem like their purchase aided the war and that rationing was the best way to help the men in war. Advertisements made women feel important during World War II which made women feel obligated to buy whatever product was being sold at that time. Using these types ofShow MoreRelatedThe Role Of Gender And Stereotyping Of The Sexes Essay972 Words   |  4 PagesIn this paper I will discuss how the role of gender and the stereotypes of the sexes relate. I will also discuss the child’s perception of their male and female superiors and in the way they carry out their own behavior in regards to what has been introduced to them. In this paper I want to also expand on the basic stereotypes that we as individuals portray toward a gender. Gender and stereotyping is among a broad spectrum. There is an expansive amount of content, but the concept still remains theRead MoreRacism1051 Words   |  5 PagesThe first topic that is going to be addressed is stereotypes and dating. 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Memorandum on a Trust Deed - Free Essay Example

Sample details Pages: 9 Words: 2650 Downloads: 7 Date added: 2017/06/26 Category Law Essay Type Narrative essay Topics: Act Essay Trust Essay Did you like this example? MEMORANDUM From: (Associates) To: (Partner) Re: Betty Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s Trust Deed Date: January 09, 2013 I. INTRODUCTION The memorandum is prepared for the meeting with Betty Bennett, a client who intends to set up a trust for the welfare of her grandchildren. In the following analysis, each provision in the proposed trust deed is discussed in order to identify legal issues and problems which need to be solved or avoided. Don’t waste time! Our writers will create an original "Memorandum on a Trust Deed" essay for you Create order The relevant suggestions are provided, and other considerations which include questions and issues to be clarified are also given in the memorandum. II. ISSUES AND RECOMMENDED PROVISIONS 1. Provision 1 A valid express trust is required to satisfy the à ¢Ã¢â€š ¬Ã…“the three certaintiesà ¢Ã¢â€š ¬Ã‚  which are the certainty of intention, certainty of subject-matter and certainty of objects.[1] To establish a legally effective trust for Ms Bennett, it must be shown that the client has the intention to create a trust (but not a gift or loan),[2] and immediately transfer the property when the trust is initially executed.[3] It is very clear from the wording of à ¢Ã¢â€š ¬Ã…“upon creation of the trustà ¢Ã¢â€š ¬Ã‚  that the client has the intention to establish a trust but not a gift or loan. However, in the first provision of the drafted trust deed, it is uncertain when the trust deed will be created and when the $1 million will be transferred to the trust account. Addi tionally, the provision will be not legally enforceable to declare an intention to establish a trust for future time without considerations.[4] Therefore, the provision is invalid and needs to be redrafted to change the wordings to make sure that the trust property is immediately transferred at the commencement of the trust deed. For the requirement of subject matter, the property transferred to the trust must be certain and identifiable.[5] The property that the client intends to be held on trust is $1million. As the subject matter of the current trust is cash from Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s personal property which is tangible, the property can be identified and defined. It can be suggested that the word à ¢Ã¢â€š ¬Ã…“cashà ¢Ã¢â€š ¬Ã‚  should be incorporated into the provision to avoid ambiguity. An express trust is established completely when the trust property is transferred to the trustees in the capacity of trustees.[6] It is highly recommended to list the names of the trustees who are Cathy and Denis, and give the details of the specific trust account set up for the purpose of this particular trust in the provision. [Recommended provision] I, Betty Bennett, hereby assign $ 1 million in cash into the specific trust account in the name of the trustees, Cathy Chen and Denise Finkel, in their capacity as trustees. Details of the specific account. Bank: Common Bank of Australia Account No: 540128 12039494 2. Provision 2 The certainty of objects requires that a valid express trust should be created for the benefit of beneficiaries who must be identified.[7] As there is an obligation to distribute the trust assets equally among all living beneficiaries in Provision 5, it seems that the trust deed is a fixed trust where the à ¢Ã¢â€š ¬Ã…“list certaintyà ¢Ã¢â€š ¬Ã‚  rule applies which requires that all the beneficiaries must be identified or ascertainable by the trustees at the time of distribution.[8] Although Edward can be easily identified as a beneficiary, there may be a potential issue in the provision that may be challenged that whether the definition of à ¢Ã¢â€š ¬Ã…“future childrenà ¢Ã¢â€š ¬Ã‚  includes any illegitimate child of Cathy or Denise, and the children from their future marriages. Therefore, the real intention needs to be clarified and confirmed with the client. Furthermore, the wording of à ¢Ã¢â€š ¬Ã…“mightà ¢Ã¢â€š ¬Ã‚  used in the provision lacks c ertainty of objects which may invalidate the provision. Clarifications are required by the client. The provisions in a completely constituted express trust must not offend against public policies. Despite the High Court decision in Ramsay v Trustee Executors and Agency Co Ltd[9] which upheld that the beneficiary who were absolutely entitled to the trust property when divorced with the current wife did not contravene the public policy, it has been well accepted and supported by recent authorities that any trust prejudicial to the status of marriage is void for the public policy reasons.[10] It is unclear in the provision whether the client is really willing to exclude Deniseà ¢Ã¢â€š ¬Ã¢â€ž ¢s children related to Fred as beneficiaries. If it is the true intention, as long as Denise remains the present marriage with Fred, their children is not entitled to receive the trust assets. Therefore, the instructions from the client should be reconfirmed and Ms Bennett should be suggeste d that the provision is very likely to be void due to the possibilities to cause inducement to divorce or matrimonial discord. [Recommended provision] The beneficiaries of the trust are Edward Chen, all future children of Cathy Chen and Denise Finkel from legitimate marriages. OR The beneficiaries of the trust are Edward Chen, all future children of Cathy Chen and Denise Finkel regardless of marital status. 3. Provision 3 A fiduciary relationship exists when one party undertakes or acts on behalf of another party in a particular circumstance where in the context of trust, trustees have fiduciary obligations to act for the best interests of the beneficiaries.[11] In other words, a trust will not exist if there is no fiduciary relationship between the trustees and beneficiaries and the essence of a trust is described as à ¢Ã¢â€š ¬Ã…“an owner of property is obliged to apply the property for anotherà ¢Ã¢â€š ¬Ã‚ .[12] Although most of the fiduciary obligations can be excluded by the trust instrument or obtaining the fully informed consent of the beneficiaries, the obligation to act good faith is a must for the existence of a valid trust.[13] In the provision, it is obvious that the client wishes to exempt the trustees from any breach of fiduciary obligations. However, Ms Bennett should be advised that the trust will not valid if the trustees shall not be liable to the beneficiar ies by considering the nature of a trust. It is highly recommended that the wording of à ¢Ã¢â€š ¬Ã…“liableà ¢Ã¢â€š ¬Ã‚  should be replaced, and this part of the provision should be redrafted to reflect à ¢Ã¢â€š ¬Ã…“good faithà ¢Ã¢â€š ¬Ã‚  component in case of any conflict between the trustees and beneficiaries while the wording of à ¢Ã¢â€š ¬Ã…“except in cases of intentional taking of trust fundsà ¢Ã¢â€š ¬Ã‚  should be considered to be too narrow and unnecessary and deleted from the provision. Under S59(4) of Trustee Act and common law authorities,[14] the trustee has a right of indemnity to reimburse himself for expenses which incurs in managing the trust property and discharge the expense directly from the trust property.[15] The trustee may also be entitled to receive remuneration with the consent of all sui juris beneficiaries or express conferral through the trust instrument.[16] The trusteesà ¢Ã¢â€š ¬Ã¢â€ž ¢ right of indemnity is clearly expressed in the prov ision but the contents of the provision regarding indemnity right should incorporate a limitation which ensures that that the expenses are properly incurred. All the expenses which are unreasonably incurred by trustees should not be reimbursed. Also, the payment for trusteesà ¢Ã¢â€š ¬Ã¢â€ž ¢ services mentioned in the provision must be related to the execution of the trust. In addition, there is another consideration that the client may be aware that the courtà ¢Ã¢â€š ¬Ã¢â€ž ¢s conferral is required if the trustees elect to execute the right to remuneration as some beneficiaries may be under a legal age at that time. The indemnity right may be extended to beneficiaries in some circumstances. Beneficiaries who benefit from the trust should be liable to the personal risk unless it can be reasonably believed that the trustee should be responsible for the burden.[17] In the current provision, because all the beneficiaries at the time of execution of the trust are under legal age, in fant or unborn, the beneficiaries are not be required to indemnify the trustee personally by applying the Hardoon[18] rule. The difficult situation in the current trust deed will arise when some of the beneficiary turns 18 and becomes an adult legally. Since it is not very fair to protect adult beneficiaries in a trust which consists of both infant and adult beneficiaries,[19] any beneficiary who turns 18 will become liable for the burden. Consequently, it may be held by the court that the terms would invalidate the provision. Therefore, the provision should be also redrafted to reflect the issue above and deal with adult beneficiaries and infant beneficiary respectively. [Recommended provision] The trustees shall act in good faith to the beneficiaries on account of their actions as trustees. The trustees may receive some payment for their services in relation to the execution of the trust and be reimbursed from the trust funds for expenses properly and reasonably incurred in managing the trust. The trustees will have no right to claim funds directly from the beneficiaries who are under 18. 4. Provision 4 The trusteeà ¢Ã¢â€š ¬Ã¢â€ž ¢s duties are not only sourced in the trust instrument but also in statute and in equity.[20] The trusteeà ¢Ã¢â€š ¬Ã¢â€ž ¢s duties on investment of trust funds are largely regulated by statutory provisions. The current legislation provides a bifurcated standard of prudence in investment depending on the professional attributes of the trustee in question. More is expected of a professional trustee than an unpaid family trustee. Under s 14A of Trustee Act 1925 (NSW), trustees, if he or she is not a professional trustee like trustees in proposed trustee, are required to exercise diligence and skill that a prudent person would exercise in managing the affairs of other persons when exercising a power of investment. Because current statute explicitly imposes duties of prudent person on the trustee for investment of trust funds, Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s drafted provision that requires the trustee to attempt to invest trust money prude ntly is unnecessary. Moreover, the current legislation requires the standard of prudent person in managing the affairs of other persons. The standard of prudent person in managing the affairs of other persons and the standard of prudent person in managing their own affairs are different. However, Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s drafted provision is ambiguous about which standard is required. The standard of care imposed on a trustee can be altered by express terms in the trust instrument, but the express terms should not cause ambiguousness. Most, but not all, liability for breach of trust can be excluded by specific provision in the trust instrument.[21] The Court of Appeal in Armitage v Nurse[22] held that a trusteeà ¢Ã¢â€š ¬Ã¢â€ž ¢s liability for negligence could be excluded, but it would offend public policy to allow an exemption clause to exclude liability for actual fraud or dishonesty. Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s drafted provision that expressly exempts the trusteeà ¢ â‚ ¬Ã¢â€ž ¢s liability for the investment decisions can be interpreted to include any liability including actual fraud and dishonesty. Therefore, the drafted provision can be invalid because it is against public policy. In summary, the drafted provision 4 by Ms Bennett is problematic and it should be deleted. [Recommended provision] (Delete) 5. Provision 5 There are rules to limit the duration of private trusts. These are collectively known as the à ¢Ã¢â€š ¬Ã‹Å"rule against perpetuitiesà ¢Ã¢â€š ¬Ã¢â€ž ¢. The rule against perpetuities requires a disposition of property to vest with in certain period of time. The trusts that infringed these rules are void. Under s 7(1) of Perpetuities Act 1984 (NSW), the perpetuities period is 80 years from the date when the disposition takes effect. Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s drafted provision states that the trust shall vest when the youngest beneficiary turns 18. Because the beneficiaries of the proposed trust are all future children of Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s two daughters, the youngest beneficiary will technically be the last born child of Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s two daughters, either Cathy Chen or Denise Finkel. It is not clear whether Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s drafted provision breaches the rule against perpetuities making the trust void because it is no t certain whether the last child of either Cathy Chen or Denise Finkel can be born after 62 years from the date of disposition to exceed 80 year statutory perpetuity period. However, it is certain that Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s drafted provision causes future difficulties in making the trust vested within in a certain period of time because the trustees will have difficulties in deciding who the last child of Cathy Chen or Denise Finkel will be. In addition, from Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s wishes, it seems that she wants to provide benefits for her existing and future grandchildren from the proposed trust. However, under her drafted provision, most of the beneficiaries will have no benefits for a long time until the youngest beneficiary who is even unborn at the time of the establishment of the trust reaches 18. It is doubtful that Ms Bennett intended this situation. In summary, the drafted provision 5 by Ms Bennett is problematic and it should be replaced by the recomm ended provision below. [Recommended provisions] The trust shall vest when the eldest beneficiary turns 18. At that time, all remaining trust assets will be distributed equally among all living beneficiaries. OR The trust shall vest when either the youngest beneficiary turns 18 or 80 years from the date of this trust deed, whichever is earlier. At that time, all remaining trust assets will be distributed equally among all living beneficiaries. III. Questions and Other Considerations 1. Does Ms Bennett want to create an inter-vivos trust or a testamentary trust? For the purpose of the proposed trust, there are two methods available for creating a trust. But Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s drafted provisions do not specify which method she intends to use. One method is testamentary trusts and the other is inter vivos trusts. Ms Bennett has to decide which method she prefers. 2. What does Ms Bennett mean by à ¢Ã¢â€š ¬Ã‹Å"childrenà ¢Ã¢â€š ¬Ã¢â€ž ¢ in the drafted provision as beneficiaries? As already discussed in II-2 above, the beneficiary must be certain. In other words, the beneficiaries of a trust must be identifiable. However, the word à ¢Ã¢â€š ¬Ã‹Å"childrenà ¢Ã¢â€š ¬Ã¢â€ž ¢ in Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s proposed provisions makes the beneficiaries to be uncertain because it is not clear whether the à ¢Ã¢â€š ¬Ã‹Å"childrenà ¢Ã¢â€š ¬Ã¢â€ž ¢ include the children only from legal marriage or not. Therefore, Ms Bennett should decide whether she wants to include children only from legal marriage or not. 3. What is Ms Bennetteà ¢Ã¢â€š ¬Ã¢â€ž ¢s intended vesting period of the proposed trust? As discussed in II-5 above, the proposed provision 5 is problematic. Therefore, we proposed two versions of recommended provisions. Nevertheless, it would be more appropriate to understand what Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s intended vesting period is. 4. How does Ms Bennett want to distribute the income from investment of trust property? The trustee is under a duty to invest trust funds rather than to simply hold them safe.[23] Therefore, certain income will be generally created from the trust property. However, Ms Bennettà ¢Ã¢â€š ¬Ã¢â€ž ¢s drafted provisions do not instruct the trustees how to deal with the income generated from the trust property. Ms Bennett should provide the relevant provisions. Recommended Provision The trustees must accumulate and retain the income generated from investment of trust property for the benefits of the beneficiaries. The accumulated income will become trust assets and distributed equally among all living beneficiaries at the time of termination of the trust. 1 | Page [1] M.W. Bryan and V.J. Vann, Equity Trusts in Australia, (Cambridge University Press, 2012), p226; Knight v Knight (1840) 3 Beav 148, 173. [2] Byrnes v Kendle (2011) 243 CLR 253, 253. [3] Harpur v Levy (2007) 16 VR 587, 601. [4] Cochrane v Moore (1890) 25 QBD 57, 72-73. [5] Hunter v Moss[1994]1 WLR 452. [6] Milroy v Lord (1862) De GF J 264. [7] P Creighton, à ¢Ã¢â€š ¬Ã…“Certainty of Objects of Trusts and Powers: The Impact of McPhail v Doulton in Australiaà ¢Ã¢â€š ¬Ã‚  (2000) 22 Sydney Law Review 93. [8] Inland Revenue Commissioners v Broadway Cottages Trust [1955] Ch 678. [9] (1948) 77 CLR 321. [10] Church Property Trustees, Diocese of Newcastle v Ebbeck (1960) 104 CLR 394, 404; Jones v Krawczyk (2011) 7 ASTLR 104, at [38]. [11]Bryan and Vann, above no 1, pp156, 162. [12] Ibid, p230. [13] Ibid, p164; Armitage v Nurse [1998] Ch 241, 253-254. [14] Section 59(4), Trustee Act (NSW); Worrall v Harford (1802) 8 Ves Jun 4, 8. [15] Bryan and Vann, above no 1, pp323, 324. [16] Graham Moffat, Gerry Bean and Rebecca Probert, Trusts Law: Text and Materials, (Cambridge University Press, 5th , 2009), p447; Duke of Norfolks Case(1682)3 Ch. Cas. 1, 22 Eng. Rep. 931. [17] Hardoon v Belilios [1901] AC 118. [18] Hardoon v Belilios [1901] AC 118. [19] Bryan and Vann, above no 1, pp332, 333. [20] MW Bryan and VJ Vann, above no 1, 279. [21] MW Bryan and VJ Vann, above no 1, 339. [22] [1997] 2 All ER 705. [23] Adamson v Reid (1880) 6 LLR (E) 164.

Rhetorical Analysis on Energy Disaster - 1068 Words

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