Legal Status of Comfort Letters in South Africa Essay

Legal Status of Comfort Letters in South Africa - Essay Example According to the report in the Kleinworth Benson case, the court said that in order to determine whether the comfort letter created an enforceable obligation on the part of the maker or issuer, legal construction of the words or language used in the comfort letter should be made. If the words or language strongly suggest that the comfort letter is promissory in nature which is evident on the face of the letter itself, the maker or issuer is obliged to perform an obligation under the comfort letter. In this case, the court held that the comfort letter is not enforceable because the terms only represented it was the â€Å"practice† of the company to provide financial support and with no indication in the letter that the policy would continue in the future.From this paper it is clear that  if the maker or issuer does not intend to be binded by the comfort letter, he or she must include a disclaimer or a clear statement on the face of the letter that he or she does not intend to give rise to any legal obligation whatsoever. Otherwise, in the absence of the disclaimer, the comfort letter is intended to be legally enforceable. This view somehow was utilized by a court in deciding a case in 2002 when it held that the plaintiffs’ reliance on the comfort letters was unjustifiable because the disclaimer language expressly stated that they were ‘not to be used, circulated, quoted, or otherwise referred to for any purpose, including but not limited of the purchase or sale of securities†.

Intelligence Definition and Measurement Paper Essay - 1

Intelligence Definition and Measurement Paper - Essay Example Again, things seemed to fall in a common sense pattern throughout this test. This test was also presented in a multiple choice format. It seemed standard for an intelligence test, but it does seem that if a person is not honest or does not know himself or herself well, the results of the test could be thrown off. As for me, I did felt that the test matched my personality; I am an outgoing person that enjoys going out and having fun, and this did reflect strongly in the test. The dictionary meaning defines intelligence as "the capacity to acquire and apply knowledge by means of thought and reason." This definition, like many of the psychological definitions of psychology, comes across as a bit too rigid. Intelligence is, in fact, a very open term, and this needs to be considered. The tests above do demonstrate this concept. Therefore, the theory that seems to fit these tests the best, and the theory that seems to make the most sense is Gardner’s Theory of Multiple Intelligences. This is because Gardner takes a look at intelligence in a bit more open concept, actually categorizing different forms of intelligence. Intelligence therefore no longer becomes something about being â€Å"smart,† it is actually encompassed in a human’s senses as well. The eight intelligences described by Gardner are: Gardner’s theory has become quite popular, and the tests above actually rated people by these categories. Therefore, I feel strongly that the tests are reflecting on Gardner’s theory. By breaking intelligence into categories and demonstrating that several items can makeup intelligence, the concept makes much more sense to people, and allows them to see that intelligence is about far more than stereotypical book smarts. All three tests above were standard, and very reliable and valid as far as the overall test results were concerned. Nothing really surprised me and I did feel that the tests