Political science project Essay Example | Topics and Well Written Essays - 2000 words

Political science project - Essay Example Social and Political effects of IMF Both IIMF and World have played an imperative role in shaping the political, social and economic environments of India, especially with the knowledge that India has been one of the developing countries with unstable environments. In this regard, with the IMF and the World Bank, both the social and political environments of India have been profoundly impacted. Scholars assert that India has received more benefits than losses from the International Financial Institutions. This is because; it is notable that India’s economy has improved since the two institutions came into action. Still, others state that the World Bank created more harm than good by reducing the Indian Economic growth rate (Mishra, 2012). However, one of the notable impacts of World Bank on the Indian economic and social environment is poverty alleviation. Statistics show that so far India has borrowed a total of US$ 65.8 billion from the World Bank. This played a key role to India since it assisted in funding its projects (Kumar, 2012). Needless to say, the funds provided were used in projects such as development of the infrastructure, rural development and social improvements among the citizens. The living standards of Indians have been improved since the poverty level has been reduced. ... Arguably, IMF also plays an extremely significant role in the Indian political and economic environments through a number of ways. This is mainly by providing economic assistance in terms of funding the government projects in the country. In addition, the IMF also provides consultancy services to the country in policy making. Kumar (2012) asserts that these policy making services have had a substantial impact on India’s political and social economy. This is because; with better policies in the country, cases of corruption are reduced and there is political integrity. In addition, borrowed funds will be utilized efficiently and thus there will be overall growth among the citizens (Eiras, 2003). Another social impact that has been observed is the improvement of the health of the citizens. A report by Kumar (2012) about the effects of IMF on India showed that, due to lack of food and other necessities the country suffered from health problems. In addition, a report given in the y ear 2007 showed that most children of the poor families in India were born while suffering from malnutrition (Mishra, 2012). This is because, the pregnant mothers had not been well fed during their maternity periods. With funding from the IMF and the World Bank, the country can provide food assistance to the poor families and thus, promoting the health of many of the citizens (Mishra, 2012). Cases of food starvation in the country have also been reduced, thus impacting the society positively since cases of theft or tribal clashes have reduced. This is a serious social effect in India since it promotes peace and stability in the country. In reference to Lagarde (2012), the World Bank and the IMF have positive effects

Contract law problem scenario Case Study Example | Topics and Well Written Essays - 2000 words

Contract law problem scenario - Case Study Example Equity has always sought to protect the weaker of two parties from oppression and from exploitation. In the context of a mortgage, equity will seek to intervene where the mortgage terms are oppressive. In order to answer this question it needs to consider presumed undue influence, which was defined in Bank of Credit and Commerce International SA v Aboody1. In this case the Court held that there was a relationship of trust and confidence between the parties of such a nature that it is fair to presume that the trust and confidence of the claimant were abused. Ginger is mother of Seamus, so the case falls in Class 2A types presumed undue influence for specific relationship. In Royal Bank of Scotland v Etridge (No. 2)2, the principle judgement was given by Lord Nicholls. In this case Ginger is especially proud of Seamus, who is a real success in her eyes. Lord Nicholls considered that a bank or any financial institution lending money should take steps to ensure that the claimant receives legal advice by asking for the name of the claimant's legal adviser. Here Northern Bank sends Miss Bindie with all the necessary paperwork but she did not provide adequate information. On the other hand Miss Bindie advised for solicitor or accountant to explain details of legal responsibilities and risks involved before sign papers. In order to answer this question it is also necessary to argue whether the contract was unconscionable or not. Here the contract was unconscionable for Ginger. Ginger is a pensioner, and has no other income. In Commercial Bank of Australia Ltd v Amadio3, in the High Court, it was held that the transaction should be set as side on the grounds that the bank's behaviour was unconscionable. An English court might well have reached the same conclusion on these facts by the application of the rules of undue influence. In Portman Building Society v Dusangh4, a father borrowed money on mortgage from the claimants so as to fund a loan to his son who was planning to buy a supermarket. The father was 72, retired, illiterate in English and spoke it poorly. No fraud or undue influence on the part of the son was alleged and the son was not in financial difficulties at the time of the loan. The father, the son and the building society sought to enforce the mortgage and the father argued that the tr ansaction as unconscionable was not excluded but on the facts the transaction was held not to be unconscionable. In Barclays Bank plc v O'Brien5, Mrs O'Brien sought to set aside the mortgage transaction on the ground that she signed the documents under undue influence and misrepresentation. It was held that the mortgage had been obtained either by her husband's misrepresentation or because of undue influence over her and the court ordered it to be set aside. Ginger can apply to the under s.14 of Trusts of Land and Appointment of Trustees Act 1996 (TOLATA), whereby the court may make any order, including one not to sell (unlike the old s.30 of the Law of Property Act 1925, where sale was often the required way to resolve any dispute unless the purposes for which the property was