Legal Requirements for Employee Benefits Essay Example for Free

Legal Requirements for Employee Benefits Essay As we discussed earlier in this chapter, some benefits are required by law. This requirement adds to the cost of compensating employees. Organizations looking for ways to control staffing costs may look for ways to structure the workforce so as to minimize the expense of benefits. They may require overtime rather than adding new employee, hire part-time rather than full-time workers(because part-time employees generally receive much smaller benefits packages),and use independent contractors rather than hire employees. Some of these choices are limited by legal equirements, however. For example ,the Fair Labor Standards Act requires overtime pay for nonexempt workers, as discussed in chapter 11. Also,the Internal Revenue Service strictly limits the definition of independent contractors,â€Å" so that employees cannot avoid legal obligations by classifying workers as self-employed when the organization receives the benefits of a permanent employee . Other legal requirements involve tax treatment of benefits ,antidiscrimination laws, and accounting for benefits. Tax treatment of benefits A modern, flexible benefit plan provides a number of potential tax advantages to employees and employers. Employees A flexible benefit plan allows employees to choose to swap some of their existing benefits or purchase benefits from a menu of options. Payments in excess of the employees spending allowance are normally collected via a gross salary adjustment. If employees exchange salary for tax exempt benefits (pensions, life cover, childcare vouchers, mobile phones, etc. ), they do not pay tax or National Insurance on the amount exchanged. This gives a basic rate tax payer earning less than the National Insurance (NI) Upper Earnings Limit (UEL) a saving of 33% compared to receiving the money as salary. For example, an employee that exchanges ? 200 per month of their salary for childcare vouchers and additional pension payments will save ? 792 in tax and NI compared to taking the money as salary. Even if the benefits are not tax exempt, employees can still exchange salary for employer provided benefits and, whilst they will be charged income tax, they save NI as their salaries have been reduced by the value of the benefit. This gives employees earning under the UEL an 11% saving. Employers Employers participating in a flexible benefit plan do not pay employers NI on payments on payments to exempt benefits. If these payments have been exchanged from salary by employees then the employer will save 12. 8% employers NI on the amounts. For example, an employee that exchanges ? 200 per month of their salary for childcare vouchers and additional pension payments will deliver an annual NI saving to the employer of ? 307. Antidiscrimination Laws  Legal treatment of men and woman includes equal access to benefits, so the organization may not use the employee’s gender as the basic for providing more limited benefits. That is the rationale for the Pregnancy Discrimination Act, which requires that employers treat pregnancy or childbirth, the employee needs time off for conditions related to pregnancy or childbirth, the employee would receive whatever disability benefits the organization offers to employees who take disability leave for other reasons. Another area of concern in the treatment of male and female employees is pension benefits. On average, woman live longer than men, so on average, pension benefits for female employees are more expensive (because the organization pays the pension longer), other things being equal. Some organizations have used this difference as a basis for requiring that female employees contribute more than male employees as a basis for requiring that female employees contribute more than male employees to defined benefit plans. The Supreme Court in 1978 determined that such a requirement is illegal. According to the Supreme Court, the law is intended to protect individuals, and when women are considered on an individual basis ( not as averages ), not every woman outlives every man. Age discrimination is also relevant to benefits policies. Two major issues have received attention under the Age Discrimination in Employment Act (ADEA) and amendments. First, employers must take care not to discriminate against workers over age 40 in providing pay or benefits. For example, employers may not set an age at which retirement benefits stop growing as a way to pressure older workers to retire. Also, early retirement incentive programs need to meet certain standards. The programs may not coerce employees to retire, they must provide accurate information about the options available, and they must give employees enough time to make a decision. In effect, employees must really have a choice about whether they retire. When employers offer early retirement, they often ask employees to sign waivers saying they will not pursue claims under the ADEA. The Older Workers Benefit Protection Act of 1990 set guidelines for using these waivers. The waivers must be voluntary and understandable to the employee and employer , and they must spell out the employees rights under the ADEA. Also , in exchange for signing the waiver, the employee must receive â€Å"compensation† that is , greater benefits than he or she would otherwise receive upon retirement. The employer inform employee that they may consult a lawyer before signing, and employee must have time to make a decision about signing-21 days before signing plus 7 days afterward in which they can revoke the agreement. The Americans with Disabilities Act imposes requirements related to health insurance. Under the ADA, employees with disabilities must have equal access to whatever health insurance coverage the employer provides other employees. Even so, the terms and conditions of health insurance may be based on risk factors -as long as the employer does not use this basis as a way to escape offering health insurance to someone with a disability. From the standpoint of avoiding legal challenges, an employer who has risk-based insurance and then hires an employee with a disability is in a stronger position than an employer who switches to a risk-based policy after hiring a disabled employee. Accounting Requirements Companies financial statement must meet the many requirements of the Financial Accounting standards Board ( FASB) . These accounting requirements are intended to ensure that financial statements are a true picture of the companys financial status and that outsiders, including potential lenders and investors , can understand and compare financial statements . Under FASB standards, employers must set aside the funds they expect to need for benefits to be paid after retirement, rather than funding those benefits on a pay-as-you-go basis. On financial statement, those funds must appear as future cost obligations. For companies with substantial retirement benefits, reporting those benefits as future cost obligations greatly lowers income each year. Along with rising benefits costs. This reporting requirement has encouraged many companies to scale benefits to retirees. Summarize the regulation affecting how employers design and administer benefits program. Employers must provide the benefits that are required by law, and they may not improperly classify employees as independent contractors to avoid paying benefits. Tax treatment of qualified plans is favorable, so organizations need to learn the requirements for setting up benefits as qualified plans-for example, ensuring that pension plans do not discriminate in favor of the organizations highly compensated employees. Employers may not use employees gender as the basis for discriminating against anyone, as in pension benefits on the basis that women as a group may live longer. Nor may employers discriminate against workers over age 40 in providing pay or benefits, such as pressuring older workers to retire by limiting retirement benefits When employers offer early retirement, they must meet the requirements of the Older Workers Benefit Protection Act of 1990. Under the Americans with Disabilities Act, employers must give disabled employees equal access to health insurance. To meet the requirements of the Financial Accounting Standards Board, employers must set aside the funds they expect to need for retirement benefits ahead of time, rather than funding the benefits on a pay-as-you-go basis

Change Along The Production Possibility Curve Economics Essay

Change Along The Production Possibility Curve Economics Essay According to McTaggard D et al. (1999), production possibility curve shows all the possible combinations of two goods that a firm can produce within a particular time period with all its resources fully and efficiently employed. What is more, droughts and extreme climate conditions could shift the frontier to the left. However, technological improvement, the capital stock rise and grow in the amount of employees, in their skills and educational levels bring movement to the right. Moreover, increase or decrease in quantity of one goods leads to change along the PPF. When human capital in protest, there will be decrease in workforce. Therefore (→ production possibility curve will shift to within frontier. During the event of protest or strike, there will be drop in human capital. Furthermore PPF shifts to the left. In order to produce more of one goods, we have to give up the other goods because of scarcity. That is why, movement occurs along the PPF (from point A to B). As a mentioned in case c, if we want to increase one goods we have to decrease number of other goods. In that case, we face movement along the PPF(from point C to D) In this situation, female and male both prohibited from entering some occupations. Therefore they have less ability to access which means drop in number of workforce then PPF will shift to the left. Spending less on defence and more on education means they are giving up one good and service in order to increase other one. At a moment change occurs along the PPF (from point E to F). But supporting education level may bring economic growth in the future economy. When government giving higher rate of unemployment benefit, it discourages school-leavers from work. On the other hand, people seem to be preferred being unemployment. As consequence, in the economy there will be decrease in workforce. Therefore, it leads PPF shift to the left. Section 2 To define what is happening in France and Australias economy first lets examine what is supply, demand, and equilibrium and why they do change. Demand According to Begg D et al. (2003) demand refers the maximum amount of a product that consumers are willing and able to buy during a particular period at various prices, holding all other relevant factors constant. What is more, holding all other relevant factors constant as price grows quantity demanded drops and as price declines quantity demanded rises. In addition, demand curve shifts when its relevant factors change such as the price of other products, income, population, preferences and future price expectations. A shift of demand curve is change in demand. The shift to outward represent rise in demand and shift to inward is a decline in demand. Furthermore, when price of good and service change, we face movement along the demand curve. Supply Supply is the quantity of a good and service that manufacturers are willing and able to produce in the market at various prices, all other relevant factors being held constant. The relationship between price and quantity are positive. If price of good and service is high manufacturers are happy to produce more and more. On the other hand, if the price of good and service set low, they will supply fewer. Change in price does not shift supply curve but it leads to movement along the supply curve. Moreover, supply curve may shift because of change in substitutes and complements in production, price of factors of production, technology, future price expectations, effects of the weather and number of producers. Equilibrium According to Sloman and Hinde (2007) supply and demand both together describe market equilibrium. Equilibrium price and quantity exists where the quantity supplied exactly equal quantity demanded for the good and service. Therefore, when demand and supply curves change, equilibrium price and quantity change too. Because of the poor grape harvest the supply of French wine decreased which is supply curve shifted to the left. As a result of supplying fewer quantity of French wine in the market, its price increased. Therefore, equilibrium quantity and price both change as well. The graph below shows decrease in quantity supply leads to increase in products price. As consequence, decrease in quantity demanded new equilibrium price and quantity take place in the market.(E1-E2). Decrease in supply of French wine leads to increase its price. As result, there will more demand for Australian wine (Australian wine demand will shift to the right). Moreover, when demand increases products price and quantity will increase. Also, change in equilibrium price and quantity too.(E0 -E1) Section 3 1. C 2. D 3. A 4. A 5. B 6. C 7. D 8. B 9. A 10. D

Impact of the Land Registration Act 2002

Impact of the Land Registration Act 2002 A registration scheme far more comprehensive than land charges is found today in the Land Registration Act 2002. The principle significance of this is that the register tells the purchaser who owns the legal estate. The system moreover is not limited to legal estates. Subject to some exceptions (overriding interest), all legal and equitable interest must be entered on the register if they are to bind a purchaser.[1] The first thing to ascertain when dealing with any piece of land is which system of conveyancing is to be applied. And it is clear in the scenario that the land is registered.[2]The purchaser will want to know whether any third parties have rights to the land which might interfere with the intended use of it. Concern about these matters will lead the purchaser to make extensive enquiries before the purchase of the estate is finally concluded.[3] A. Legal leases not exceeding seven years constitute overriding interest and this falls under schedule 3, Para 1 of LRA 2002. Short legal leases are specifically excluded by Para 1 from the category of short leases which override registered disposition. That includes leases which are to take effect in possession more than three months after the date of grant.[4] Polly comes to the cottage after Alisha brought it but Polly was given the lease the previous year. And since Alisha didn’t find any belongings in the cottage before buying we can assume that Polly returned after a year to take possession. In that case Sec.4 (1) (d) applies which makes the lease not an overriding interest. Because such leases mean that there is a real risk that the purchaser might buy the estate without discovering that it is subjected to a lease when the tenant is not necessarily in possession of the land. In such scenarios we can conclude that only the facts matters. And if Polly wants her legal lease to be protected knowing that she won’t be in possession of the cottage for some time she should have made a notice[5] in the register about her lease. But certain interests cannot be protected by notice[6] , one such case is when the lease doesn’t exceed more than three years, interest under a trust of land or restrictive covenants. Since Polly’s lease is for four years it can be entered into the charges register. The fact that an interest is the subject of a notice doesn’t mean that the interest is valid. However, if the interest is valid, the notice ensures both that it binds any purchaser for valuable consideration[7] , and he knows about it before he takes the estate.[8] It is therefore much safer to protect such interests by notice. Once such an entry has been made the interest losses its overriding status[9] , but of course binds a disponee for valuable consideration. B. It is essential to remember that, it is the rights of the occupiers that bind purchasers and not the occupation itself. The claimant must always prove two elements: actual occupation and an interest in land. In National Provincial Bank v Ainsworth[10] it was held that deserted wife’s equity to be a mere personal right against her husband; her occupation made no difference.[11] Judges have regularly emphasized that the question of whether a party is in actual occupation is essentially a question of fact. Lord Wilberforce stated that[12], ‘It is the fact that matters and what is required is physical presence on the land and not some entitlement in law’ this was stated in Abbey National v Cann. In LRA 2002 Schedule 3 , Para 2 if occupation is established but the interest claimed was not known to the purchaser , the question will then be whether the occupation was obvious on reasonable inspection of the land.[13] Wilma daily comes home even for a short while and it is very much unclear whether Alisha didn’t notice that. And the wedding photograph is good evidence to the fact that Wilma may have a share in the land. A thorough search should have taken place in such risky matters which Alisha didn’t. The question is Wilma not being present permanently in the cottage because she was looking after her sick mother which was clearly defined by the case of Chhokar v Chhokar[14]in relation to LRA 1925 were a similar situation has being dealt with. The court of appeal said that it had no difficulty in holding that she was in occupation at the date, and went on to describe her right in the property as an overriding interest. The effect of temporary absence is now being considered by the courts in Link Lending Ltd v Bustard.[15] Occupation of Wilma was obvious enough through the inspection even if Alisha didn’t know about it. This means that provided the occupation is discoverable, the disponee may still be bound by an interest of which she doesn’t know ( Malory Enterprises Ltd v Cheshire [2002] )[16]Nevertheless in Kingsnorth Finance Co Ltd v Tizard[17] provide that there was actual occupation even when the wife was divorced she visited every day to look after her children. Although she was not living there her daily activities might be regarded as sufficient to justify the result. The facts are all important in such a case.[18] The result in Chhokar seems clear, but what if the seller had removed all evidence of the wife. Like in the scenario it is unclear whether Alisha sees possessions of Wilma other than the wedding photograph before sale. And since Bob lies about a divorce Wilma’s claim might be stronger in such a circumstance. The purchaser has a statutory defence to an overriding interest if inquiry is made of the occupier, but the rights are not disclosed.[19] This is a clear hint to a purchaser as to what should be done. Those in actual occupation must be discovered and then asked what their interests are. In practice and in the scenario they tend to rely on the seller’s information. This might be convenient but gives no protection. And when Alisha identified the wedding photograph she should have been careful enough to ask the occupier what their interests are rather than whether she is present or not. This is because there is no need for overriding interest to be the source of the actual occupation.[20] The scenario doesn’t state that Wilma and Bob are divorced so this matter can be taken under Family Law Act 1996, s31 (10), that where one spouse or civil partner owns the family home, the other spouse has a right not to be evicted if already in occupation and a right with a leave of the court to enter and occupy if not already in occupation. And this lasts as long as the marriage continues. Under Sec.31 Wilma’s home rights constitute a charge on the estate or interest of Bob and will bind Alisha in the property for valuable consideration if they are protected by a notice on the register of the title. This acts as an exception to overriding interests and thus binds Alisha. C. Easements and profits can be created expressly or impliedly by granting another person a right over one’s land or by reserving a right over land which one is transferring to another person.[21]Only legal easements are now capable of overriding the register. The LRA 2002 effectively reversed the controversial case of Celsteel Ltd v Alton House Holdings Ltd[22] which held that both legal and equitable easements were overriding within 1925 scheme. But if somehow the deed is registered it loses its overriding status. We can assume that Maxwell’s claim satisfy the requirement for a valid easement as laid down in Re Ellenborough Park.[23]A valid easement can be created by prescription which is long use of land and under Sec 2 of the Prescription Act 1832. The use for many years of a right which is capable of being an easement can create a legal easement by prescription.[24] Prescription arises if an easement has been used openly, as of right, without permission and continuously by one fee simple owner against another, provided that the right could have legitimately been granted by the landowner.[25] Maxwell does use the path openly and even notify Alisha of his right and say he has been using it for any years. It is somewhat unclear whether the prescription is by lost modern grant. Finally, we can come to a conclusion which interests bind Alisha and which does not. The legal lease of Polly doesn’t bind Alisha since there’s lack of physical presence and notice as explained. But the share of Wilma does bind Alisha since she has some equitable rights towards her share of the property. And finally the easement will also bind Alisha through the Prescription Act 1832. Critically examine the rationale for the continued existence of interests which override. â€Å"Overriding interests are important and controversial because they contravene the most basic registration principle: they bind purchasers despite not being entered on the Register† Roger Smith, Elements of Land Law (Pearson Longman 2007) In a sense overriding interests are rather like ‘trump cards’ of the registered land system, taking automatic priority to any rights which are subsequently acquired by a person in the land. Not only that, but they can also lead to alteration of the register with no compensation being payable to the purchase. Little wonder then that a former Chief Land Register referred to them as ‘a stumbling block’.[26] When compulsory title registration was introduced, the aim of its creators was to simplify conveyance by placing all the essential information about an estate in land on a register. Thereafter a purchaser intending to buy the land will only have to look up at the register in order to discover all what he needed to know about the property.[27] A major difficulty arose from the category of ‘overriding interest’. The original notion of land registration was that the register would provide a complete record of the title, so that the purchaser will be able to buy it with minimum or other enquiries or inspections.[28] The fundamental principle behind registered land is the mirror principle, which is to reflect accurately and completely and beyond all argument the current facts that are material to a mans title. Overriding interests represents the greatest breach in the mirror principle. They were not accidentally created but rather deliberately done by the legislature and given automatic effect precisely because they should be obvious to any prospective purchaser or their enforcement is too important to depend on registration.[29] On the other hand the curtain principle is perhaps the most ambitious motive behind the origin 1925 Act and it remains a key principle under 2002 Act. The aim is to keep certain types of equitable interests off the register completely. As Williams and Glyn’s Bank v Boland shows, if the curtain is not raised the purchaser can easily be bound by such equitable interests. This problem clearly involves striking a balance between protection of the purchaser and protection for the occupier of land and it arose largely due to social and judicial changes.[30] Paragraphs 1 to 3 of Schedule 3 cover three types of interests which were overriding under LRA 1925. They are short leases, rights of persons in actual occupation and easements and profits. Schedule 3, Para 1 shortens the length of a lease from not exceeding 21 years to not exceeding 7 years. And in the future it can reduce to 3 years with the effect of e-conveyancing[31]. The reason why these leases override is that it would be unreasonable to expect short leases to be registered and if they were the register would be cluttered up by them. Under the 1925 Act anyone with proprietary right in property and also in actual occupation could claim an overriding interest. In Williams Glyn’s Bank v Boland in 1981 defined actual occupation as â€Å"It is the fact of occupation that matters and what is required is the physical presence in the land and not some entitlement in law†. However, Schedule 3 of LRA 2002 has reduced the extent to which these interests can bind a purchaser on subsequent registration of title so that a purchaser will not be bound if the occupation would not have been obvious on a reasonable inspection of the land at the time of the disposition. Under LRA 1925 s.70 (1) (a) all legal easements and profits and certain equitable easements[32] were overriding. But this wide category was reduced by LRA 2002 under Schedule 3, Para 3 where only legal easements by prescription or implied easements and profits were overriding. The LRA 2002 effectively reversed the controversial case of Celsteel Ltd v Alton House Holdings Ltd[33] which held that both legal and equitable easements were overriding interests within the 1925 scheme. Under LRA 1925 Sec. 70 (1) (f) a squatter could obtain title after 12 years adverse possession.[34] The new rules introduced by LRA 2002 apply to any squatter who had not completed the 12 year imitation period before the Act came into force on 13th October 2003. The rules are designed to protect the rights of the registered proprietor, and as a result the squatter’s chances of acquiring title to land are greatly reduced by the new scheme.[35] Finally local land charges override but they should be discovered by a local land charges search carried out before purchase. Moreover other interests, such as chancel repair liability will cease to override on 13 October 2013. Thus the ‘snap shot’ is becoming more accurate.[36] Why do we have them? At one time it was argued that the register replaces the title deeds and that the registration system should not protect purchasers in respect of interests not generally found in title deeds. Although this seems correct as historical explanation[37], the law commission has rejected it as an approach fit for the modern law. Their view is that, â€Å"In the interest of certainty and of simplifying conveyancing, the class of right which may bind a purchaser otherwise than as the result of an entry in the register should be as narrow as possible but †¦ interests should be overriding where protection against purchasers is needed, yet it is either not reasonable to expect or not sensible to require any entry on the register.†[38] They are also difficult to discover on an inspection of the land.[39] Not surprisingly the 2002 Act is working towards either minimizing or abolishing some overriding interests but has not yet worked out a strategy to eradicate them once and for all.[40] To make them lose their rights would contravene Article 1 of the First Protocol of ECHR. Active promotion of the advantages of registering interests could work in favor of both the purchaser and the beneficiaries of these rights. Times have changed and the importance of moving on cannot be underestimated.[41] This surely illustrates the deepening of the crack in the mirror principle of registered land. In order to narrow the crack, the class of overriding interests may be made more certain by narrowing the class. On the grounds of public policy, there will perhaps always be interests which will need protection against the purchaser, where it will be unreasonable to register the interests. Therefore, the extent of the crack can never really get away from third- party interests, which is just as important as having quicker and cheaper conveyancing. Until legislation makes clear specifications on what particular interests can qualify, the concerns of overriding interests will remain. Bibliography Textbooks Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) Roger J Smith,Property Law(7th, Pearson Education Limited, 2011) Martin Dixon , Gerwyn LL H Griffiths and Emma Lees, QA Land Law (8th, Routledge, 2013) Journal Articles Matthew Roach, the end is nigh for Overriding interests -Or is it? [Summer 2013 ] 2 Stewart-Wallace , principles of land registration, p 32 Online resources Mangala Murali, Overriding Interests –a conundrum of English Land Law (Law Brief Update October 10, 2012 ) http://www.lawbriefupdate.com/2012/10/10/overriding-interests-a-conundrum-of-english-land-law/> accessed 1/12/2015 Statues Land Registration Act 1925 Land Registration Act 2002 Prescription Act 1832 Limitation Act 1980 Cases Bakewell Management Ltd v Brandwood Celsteel Ltd v Alton House Holdings [1985] Celsteel Ltd v Alton House Holdings Ltd [1985] 1 WLR 204 Dewan v Lewis [2010] EWCA Civ 1382 Kingsnorth Finance Co Ltd v Tizard [1986] 1 WLR 783 (Ch D) Link Lending Ltd v Bustard [2010] EWCA Civ 424 Malory Enterprises Ltd v Cheshire [2002] National Provincial Bank v Ainsworth [1965] AC 1175 Re Ellenborough Park [1955] 3 All ER 667 Williams Glyn’s Bank Ltd v Boland [1981] 1 [1] Roger J Smith,Property Law(7th, Pearson Education Limited, 2011) 53 [2]If one is not sure whether a registration has been made it can be found out by making an ‘index map search’ which will tell you whether the estate has been registered. Further details may be obtained by making a full search of the register, which since 3 December 1990, can be done without the consent of the estate owner. [3] Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) 38 [4] S.4 (1) (d) [5] The Act defines a notice as ‘ an entry in the register in respect of the burden of an interest affecting a registered estate or charge’ S.32(1) [6] S.33 [7] S 32(3) [8] Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) 106 [9] S 29(3) [10][1965] AC 1175 [11] Roger J Smith,Property Law(7th, Pearson Education Limited, 2011) 254 [12] Williams Glyn’s Bank Ltd v Boland [1981] [13] Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) 118-119 [14] [15] [2010] EWCA Civ 424 [16] Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) 115 [17] [1986] 1 WLR 783 (Ch D) [18] Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) 115 [19] Sch3 Para 2b [20] Roger J Smith,Property Law(7th, Pearson Education Limited, 2011) 264 [21] Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) 111 [22] [1985] 1 WLR 204 [23] [1955] 3 All ER 667 [24] The role of this doctrine was summarized in Dewan v Lewis [2010] EWCA Civ 1382 [25] Bakewell Management Ltd v Brandwood [26] Roger J Smith,Property Law(7th, Pearson Education Limited, 2011) 251 [27] Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) 86 [28] Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) 86 [29] Martin Dixon , Gerwyn LL H Griffiths and Emma Lees, QA Land Law (8th, Routledge, 2013) 10 [30] ibid [31] The introduction of e-conveyancing will have tremendous significance for the operation of the registered title system. It will only remove the gap between execution and registration which , as we have seen , can cause problems , but will also reduce very considerably the number of interests which can be created ‘off the register’. [32] Celsteel ltd v Alton House Holdings [1985] [33] [1986] 1 WLR 512 [34] Even if the squatter is no longer in possession at the date of disposition. [35] Judith-Anne MacKenzie,Textbook on Land Law(15th, Oxford University Press, 2014) 141 [36] Martin Dixon , Gerwyn LL H Griffiths and Emma Lees, QA Land Law (8th, Routledge, 2013) 21 [37] Stewart-Wallace , principles of land registration, p 32 [38] Another important factor permeating the changes introduced by LRA 2002 is the extent to which a purchaser may be expected to discover these interests without making extensive inquiries. â€Å"Because overriding interests bind transferees of the land even though they are by definition, not protected on the register, they are widely acknowledged to be potential source of difficulty in registered conveyancing† The law commission report no254 1998 [39] Examples include rights of an occupier of land, a lease for a term of less than seven years, profits a prendre (fishing rights or shooting or hunting rights). [40] The rights of persons in actual occupation present formidable challenges for reformists and it is this area of law that professionals must work on to find a conducive solution. [41] Mangala Murali, Overriding Interests –a conundrum of English Land Law (Law Brief Update October 10, 2012 ) http://www.lawbriefupdate.com/2012/10/10/overriding-interests-a-conundrum-of-english-land-law/> accessed 1/12/2015

Organizational Development Essay -- Business, Team Intervention Model

Organizational Development (OD) has become more and more important for today’s organizations because the world is moving so fast that organizations have to find ways to be more effective, more innovation, more customer-driven, and more agile. Cumming and Worley (1997) define organizational development as â€Å"a process that applies a broad range of behavior science knowledge and practices to help organizations build their capacity to change and to achieve greater effectiveness† (p. 1). Therefore, OD will help organizations understand how people act to change and which change methods can work with the resistance to change that usually occurs in organizations undergoing change. As my concentration of SPS program is organizational development, it is important to study Organizational Intervention & Change Implementation in order to know how to operate and make use of change methods that seem to be vital in solving any problems that arise. What I First Learned about the Course In this course, I have learned that the change methods could be divided into four purposes: adaptable, planning, structuring, improving, and supportive (Holman, Devane, & Cady, 2007). In addition to the purpose, Holman, Devane, and Cady (2007) assert that individuals and organizations need to consider type of system, event size, duration, cycle, and practitioner preparation, and special resource needs. Since there are many methods to learn about, the paper of IIMT helped me to deeply understand methods that I thought they were interesting. I chose to study Appreciative Inquiry of adaptable methods, Scenario Thinking of planning methods, Participative Design Workshop of structuring methods, and The Six Sigma Approach of improving methods. In doing this assignment, ... ... experiences and information related with the issues. This was my first time to involve in fishbowl conversation and I found that it was an simple, effective technique to build trust and mutual understanding and to improve the relationship among members. Overall, the study of Organizational Intervention & Change Implementation through reading the book, attending the class, doing assignments such as IIMT and TIMPF, partaking in the process of organizational interventions, and having a fishbowl conversation help me to be very knowledgeable about change models, to effectively work in team, and to gain learning from classmates’ experiences and expertise. More importantly, I have gained ton of confidence in areas where I had little or no experience before. Now, I can have an ability to diagnose an organization’s problems and implement the appropriate change methods.

Moby Dick-Structure And Form :: essays research papers

Moby Dick's structure is in a sense one of the simplest of all literary structures-the story of a journey. Its 135 chapters and epilogue describe how Ishmael leaves Manhattan for Captain Ahab's whaling ship, the Pequod, how Ahab pilots the Pequod from Nantucket to the Pacific in search of Moby Dick, and how in the end Ishmael alone survives the journey. This simple but powerful structure is what keeps us reading, as we ask ouselves, "Where will Ahab seek out his enemy next? What will happen when he gets there?" Some critics have divided the book into sections, like acts in a play. The first, from Chapter 1 to Chapter 22, describes Ishmael, portrays his growing friendship with Queequeg, and serves as a kind of dry-land introduction to themes-whaling, brotherhood, and man's relationship with God-explored in greater detail at sea. The next section begins as the Pequod sails and continues to Chapter 46. Here you meet both Captain Ahab and, in description if not yet in the flesh, his great enemy, Moby Dick. A long middle secction, from Chapter 47 to Chapter 105, shows the Pequod at work as whales are hunted and killed and other whaling ships met. It also shows Ishmael pondering the meaning of these activities. The plot slows as Melville takes time to gather and display proof of the importance of the Pequod's voyage. Then, from Chapter 106 to the book's end, we're caught up in the excitement as Ahab steers his ship nearer and nearer to Moby Dick and final disaster. Although Moby Dick's basic structure is simple, the book is anything but simple, in part because Melvill writes in several literary forms. As a whole, Moby Dick is of course a novel, but some of its chapters are written as if they were scenes in a play. The chapters involving Father Mapple and Fleece contain sermons. Other chapters, most notable Ishmael's discussion of whales and whaling, resembling essays. Indeed, some readers have compared Moby Dick not to novels but to other kinds of literary works.

Clarkson Lumber Case Study

CLARKSON LUMBER CASE STUDY B RADY CLIFFORD †¢ DAN HORTON †¢ EMIL HYMAS Y †¢ RICH WILKINSON EXECUTIVE SUMMARY Clarkson Lumber Company, owned by Mr. Keith Clarkson, has been in business for 15 years and currently has 15 employees. Firms who have worked with Clarkson speak very highly of him, saying that he is conservative and his operating expenses are low. The company’s revenues are projected to continue to grow. Recently, Clarkson Lumber’s accounts payable and notes payable have increased significantly.The company has not been able to take advantage of trade discounts in recent years because of lack of funds and because of investments due to the company’s growth. While Clarkson Lumber has been increasingly profitable in recent years, the company has found the need for additional financing. Clarkson’s current bank will not provide more than $399,000 in financing without a personal guarantee. Clarkson is hoping to secure more financing in orde r to improve profitability by taking full advantage of trade discounts. The company is working with Northrup National Bank to possibly secure a larger loan; up to $750,000.Northrup’s credit department is currently investigating Clarkson Lumber to see if the firm qualifies for this additional financing. Our team has identified several key issues with Clarkson Lumber’s current financial situation. The company’s over-arching financial issue is cash flow. Clarkson is borrowing too much to make up for a cash flow shortage. Clarkson’s accounts receivable is increasing and the company is still using a 2% accounts payable discount, which is contributing to the lack of available cash. The cash flow that the company does have is being used inefficiently as the sources of cash comes from financing.Thus, Clarkson Lumber is growing at an unsustainable rate and is too reliant on short-term financing. Even if Clarkson receives the $750,000 from Northrup, the company wil l eventually be bankrupt if it does not curtail its growth rate. We recommend that the company utilize more long-term debt instead of short-term debt. Long-term financing will require smaller payments at lower interest rates, which will increase CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ PAGE 1 Clarkson’s cash flow. Clarkson may benefit from reducing inventory by increasing sales or reducing inventory growth.Another option would be to lower costs by negotiating cheaper prices with suppliers. Both options will increase the company’s cash flow. Finally, we recommend increasing accounts receivable turnover. With an increase in account receivable turnover, Clarkson will experience quicker collections and will not have to pay as much in finance charges, again leading to additional cash flow. ANALYSIS The approval process for the loan from Northrup National Bank, required that investigators be sent to research Mr. Clarkson and his company. The investigation p ointed out a few important financial aspects of the company that are worth mentioning.In 1994, Mr. Clarkson bought out the other company partner for $200,000. This amount was to be paid off in 1995 and 1996 using semi-annual payments at an interest rate of 11%. From 1993 to 1995, net sales volume for CLC has increased from 2. 9 million to just over 4. 5 million. After yield profits for the same years also increase from $60,000 in 1993 to $77,000 in 1995 (see Exhibit 1). The investigation also paid special attention the debt position and current ratio of CLC. It was reported that sales are expected to reach $5. 5 million in 1996 and could be more if the prices of lumber rise.Despite these profits, there was a shortage in cash which lead to an increase in borrowing. In order to stay within the borrowing limits set by Suburban Nation Bank, a lot of borrowing was being done through trade credits. In 1995 and 1996 this trade debt was rapidly increasing and was creating some concern. If t he market is struggling then trade credit is normally not recommended; however, for CLC the trade credit was a short fix for long term problem. Even with the growing trade debt, CLC still was comparable to the overall percentages of other lumber outlets (see Exhibit 3).It is also important to recognize specific ratios related to the company. The current ratio, which is helpful in understanding asset liquidity or inefficient use of cash flow, decreased from 2. 5 in 1993 to 1. 1 in 1995. High-profit companies have a current CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ PAGE 2 ratio of 2. 52. ROE for Clarkson Lumber remains relatively steady; it increased from 1993 to 1994 but decreased to 17. 1% in 1995. This ROE is only slightly lower than the ROE for high-profit companies which is at 22. 1%. After reviewing Clarkson Lumber’s financial situation, several key issues became apparent.First, the company is clearly growing at an unsustainable rate. Exhibit 3 (various s tatistical ratios), shows the average internal growth rate of the company at 6. 06% and the average sustainable growth rate at 15. 78%. However, over the three full years analyzed, the company has an average growth margin of 24. 5% and an average asset growth margin of 33. 69%. This continues in the forecasted 1996 year as the company is projected to increase revenue by roughly 21. 7%. At the company’s current level, it cannot continue to support its current growth rate going forward and will require more debt to finance this growth.Therefore, the company seems to be overly reliant on short term financing for its operations. As seen in Exhibit 5, the company projects to have $5. 5M, with most other accounts are based on the historical averages. Exhibit 5 also shows that Clarkson would need between $971K or $696K of external financing. Another issue found dealt with the company’s cash flow (see Exhibit 4). When the company generates net income, it is immediately engulfe d in two areas: the increase in accounts receivable, which increased from $306K to $411K to $606K from 1993 to 1995, and inventory, which also increased from $337K to $432K to $587K during those years.Due to these increases, and despite rising the liability accounts of notes payable from trade and accrued expenses, the company had negative cash flow from operations and needed external financing to purchase its fixed assets and pay down the debt they already had (again see Exhibit 4). Although having negative cash flows from operations is not necessarily bad in the short run, if this trend continues, it provides no long term benefit for the company. Thus, we found that the company cannot continue to allow its accounts receivable and inventory to increase at the same rate.CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ PAGE 3 The final issue we noticed was the accounts payable 2% discount. Clarkson was offered a discount if it pays off its payables to its suppliers within t en days. Even though there is value here, Mr. Clarkson said the company has taken few purchase discounts in recent years. Exhibit 3 attests to this as the company pays its suppliers on an average of 38 days. If the company used this discount on its financial projections, it would receive a purchase discount of $86K to add to its operating income.However, the trade-off is that Clarkson will have a significantly lower amount in accounts payable and will need financing to pay down these payables in order to obtain the discounts. If the company does not proceed with the discount, it will experience significantly lower net income, but will not need as much external financing. RECOMMENDATIONS One of our preferred recommendations for the company would be to replace some, or all, of the short term debt with a long term note. If the company used the amount of the external financing, about $975K, at 6% for 10 years, Clarkson will pay $130K a year.At 15 years, the company will be paying $99K a year. Or the company could use half of the external financing amount, roughly $488K, at those same terms and pay $65K or $49K for ten years or fifteen years, respectively. These numbers indicate that by replacing short-term debt with long-term debt, Clarkson will be making smaller payments at a lower interest rate, freeing up additional cash flow. Another way Clarkson can increase their cash flow is by decreasing the accounts receivable period.In Exhibit 3, we can see that on average the company takes 39 days to collect from accounts receivable and the company has a cash cycle of 55 days, meaning there is a 55 day delay between paying for inventory and collecting the sale. Thus, we recommend that the company use a stricter policy for collections for its customers. For example, if Clarkson could require payments in 30 days, their cash cycle drops to 45 days. By decreasing the accounts receivable period, the company can collect cash more quickly and will pay less in finance CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ PAGE 4 harges. The cash collected from accounts receivable can then be used to manage accounts payable. Our next recommendation is based on Clarkson’s need to increase the amount of cash available, thus capitalizing on growth opportunities. From 1993-1995, the company’s need for increased financing despite profitability comes from Mr. Clarkson’s buyout of Holtz’s share of the company, as well as the increase in inventory and accounts receivable as explained above. It is important for Clarkson Lumber to have access to larger amounts of cash to support its growth in the short and long term.Clarkson’s current success is due to the ability to compete on price; thus a large growth opportunity exists if they can continue to use trade discounts. If the company can use trade discounts, they will receive a purchase discount of around $86K added to income. The trade-off comes from the company having significa ntly lower accounts payable. In the long run the company will clearly need the additional credit, shown by the internal growth rate of 6. 1% and a projected sales growth of 21. 7%.The company will also need to alter the equity/debt ratio due to the projected growth rate of sales in 1996 which is greater than their sustainable growth rate of 15. 8%. Clarkson Lumber will potentially start producing positive free cash flows, as long as their growth rate stabilizes at a more reasonable rate. Our recommendations are aimed at producing positive free cash flows sooner, and the increase in quantity discounts will lower the cost of goods of sold and offset the financial obligations. If the $750,000 line of credit is extended by Northrup Bank, then debt and interest expenses will increase.This creates even more of a necessity to apply the increase in available credit in such a way that will reduce costs. CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ PAGE 5 EXHIBIT 1 CLARKSON LUMB ER COMPANY INCOME STATEMENT 1993 NET SALES COGS: BEGINNING INVENTORY PURCHASES ENDING INVENTORY TOTAL COGS GROSS PROFIT OPERATING EXPENSES EBIT INTEREST EXPENSE NET INCOME BEFORE TAXES PROVISION FOR TAXES NET INCOME 1994 1995 1ST QTR 1996 $2,921 $3,477 $4,519 $1,062 $330 $2,209 $2,539 $337 $2,202 $337 $2,729 $3,066 $432 $2,634 $432 $3,579 $4,011 $587 $3,424 $587 $819 $1,406 $607 $799 $719 $622 $97 $23 $74 $14 $60 $843 $717 126 $42 $84 $16 $68 $1,095 $940 $155 $56 $99 $22 $77 $263 $244 $19 $13 $6 $1 $5 CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ APPENDIX EXHIBIT 2 CLARKSON LUMBER COMPANY BALANCE SHEET 1993 1994 1995 1ST QTR 1996 CASH ACCOUNTS RECEIVABLE, NET INVENTORY CURRENT ASSETS FIXED ASSETS TOTAL ASSETS $43 $306 $337 $686 $233 $919 $52 $411 $432 $895 $262 $1,157 $56 $606 $587 $1,249 $388 $1,637 $53 $583 $607 $1,243 $384 $1,627 NOTES PAYABLE, BANK NOTE PAYABLE TO HOLTZ (CPLTD) NOTES PAYABLE, TRADE ACCOUNTS PAYABLE ACCRUED EXPENSES TERM LOAN, CURRENT PORTION CURRENT LIABILITIES TERM LOAN NOTE PAYABLE TO HOLTZ TOTAL LIABILITIESNET WORTH $0 $0 $0 $213 $42 $20 $275 $140 $0 $415 $504 $60 $100 $0 $340 $45 $20 $565 $120 $100 $785 $372 $390 $100 $127 $376 $75 $20 $1,088 $100 $0 $1,188 $449 $399 $100 $123 $364 $67 $20 $1,073 $100 $0 $1,173 $454 TOTAL LIABILITIES AND NET WORTH $919 $1,157 $1,637 $1,627 CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ APPENDIX EXHIBIT 3 1993 1994 1995 AVERAGE LOW PROFIT OUTLETS HIGH PROFIT OUTLETS COGS OPERATING EXPENSE CASH ACCOUNTS RECEIVABLE INVENTORY FIXED ASSETS TOTAL ASSETS PURCHASES 75. 39% 21. 29% 1. 47% 10. 48% 11. 54% 7. 98% 31. 46% 75. 62% 75. 75% 20. 62% 1. 50% 11. 82% 12. 42% 7. 54% 33. 28% 78. 49% 5. 77% 20. 80% 1. 24% 13. 41% 12. 99% 8. 59% 36. 22% 79. 20% 75. 64% 20. 91% 1. 40% 11. 90% 12. 32% 8. 03% 33. 65% 77. 77% 76. 9% 22. 0% 1. 3% 13. 7% 12. 0% 12. 1% 39. 1% 75. 1% 20. 6% 1. 1% 12. 4% 11. 6% 9. 2% 34. 3% PERCENT OF TOTAL ASSETS: CURRENT LIABILITIES LONG-TERM LIABILITIES EQUITY 9. 41% 4. 79 % 17. 25% 16. 25% 6. 33% 10. 70% 24. 08% 2. 21% 9. 94% 16. 58% 4. 44% 12. 63% 52. 7% 34. 8% 12. 5% 29. 2% 16. 0% .54. 8 CURRENT RATIO RETURN ON SALES RETURN ON ASSETS RETURN ON EQUITY 2. 49 3. 32% 6. 53% 11. 90% 1. 58 3. 62% 5. 88% 18. 28% 1. 15 3. 43% 4. 70% 17. 15% 1. 74 3. 46% 5. 70% 15. 78% 1. 31 -0. 70% 1. 80% -14. 30% 2. 52 4. 30% 12. 20% 22. 10% 6. 85 53. 28 9. 70 37. 63 9. 53 38. 32 90. 91 52. 60 6. 72 54. 31 8. 89 41. 07 9. 56 38. 16 95. 38 57. 22 6. 79 53. 80 9. 29 39. 35 9. 55 38. 24 93. 15 54. 91 6. 24% 18. 28% 19. 03% 25. 90% 4. 94% 17. 15% 29. 97% 41. 49% 6. 06% 15. 78% 24. 50% 33. 69% PERCENT OF SALES: INVENTORY TURNOVER (AVG) INVENTORY PERIOD RECEIVABLES TURNOVER RECEIVABLES PERIOD PAYABLES TURNOVER PAYABLES PERIOD OPERATING CYCLE CASH CYCLE INTERNAL GROWTH RATE SUSTAINABLE GROWTH RATE ACTUAL GROWTH MARGIN ASSET GROWTH MARGIN 6. 98% 11. 90% CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ APPENDIXEXHIBIT 4 CASH FLOWS FOR CLARKSON 1994 1995 1993 T0 1995 $68 ($105) ($95) $127 $3 $77 ($195) ($155) $163 $30 $145 ($300) ($250) $290 $33 CASH FROM OPERATIONS ($2) ($80) ($82) SOURCE OF CASH: CASH FROM OPERATIONS CASH FROM BANK LOANS SOURCES OF CASH: ($2) 60 $58 ($80) 330 $250 ($82) 390 $308 $29 $20 $49 $126 $20 $100 $246 $155 $40 $100 $295 $9 $4 $13 CASH FROM OPERATIONS NET INCOME CHANGE IN A/R CHANGE IN INVENTORY CHANGE IN N/P – TRADE CHANGE IN ACCRUED EXP. USE OF CASH FIXED ASSETS CPLTD HOLTZ LOAN USE OF CASH CHANGE IN CASH CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ APPENDIX EXHIBIT 5CLARKSON LUMBER COMPANY FORECASTS PROJECTED INCOME STATEMENT WITH PURCHASE DISCOUNT PROJECTED INCOME STATEMENT WITHOUR PURCHASE DISCOUNT 1996 NET SALES COGS: BEGINNING INVENTORY PURCHASES* 1996 $5,500 ENDING INVENTORY TOTAL COGS** $587 $4,279 $4,866 $708 $4,158 GROSS PROFIT OPERATING EXPENSES*** EBIT PURCHASE DISCOUNT**** INTEREST EXPENSE***** NET INCOME BEFORE TAXES PROVISION FOR TAXES NET INCOME NET SALES COGS: BEGINNING INVENTORY PURCH ASES $1,342 $1,150 $192 $86 $93 $185 $55 $130 ENDING INVENTORY TOTAL COGS 1996 ASSETS CASH A/R, NET INVENTORY CURRENT ASSETS FIXED ASSETS TOTAL ASSETS 1996 LIABILITIESA/P (10 Days of Purchases) ACCRUED EXP. (1. 5% of Sales) CPLTD BANK NOTE PAYABLE (PLUG) CURRENT LIABILITIES LT DEBT TOTAL LIABILITIES NET WORTH TOTAL LIABILITIES AND NET WORTH $1,342 $1,150 $192 $93 $99 $41 $58 PROJECTED BALANCE SHEET PROJECTED BALANCE SHEET $77 $655 708 $1,440 $411 $1,851 $587 $4,279 $4,866 $708 $4,158 GROSS PROFIT OPERATING EXPENSES EBIT INTEREST EXPENSE NET INCOME BEFORE TAXES PROVISION FOR TAXES NET INCOME * Purchases based on average percentage of Sales (77. 8%) ** Total COGS based on average percentage of Sales (75. 6%) *** Operating Costs based on average percentage of Sales (20. 1%) **** 2% Discount on Purchases of $4,277 ***** 11% on the LOC and 10% on Term Loan ASSETS CASH (1. 4% of Sales) A/R NET (11. 9% of Sales) INVENTORY CURRENT ASSETS FIXED ASSETS* TOTAL ASSETS $5,500 $117 $83 $20 $972 $ 1,192 80 $1,272 $579 $1,851 0. 075 77 655 708 1440 411 1851 LIABILITIES A/P ACCRUED EXP. CPLTD BANK NOTE PAYABLE (PLUG) CURRENT LIABILITIES LT DEBT TOTAL LIABILITIES NET WORTH $465 83 20 $696 $1,264 80 $1,344 $507 TOTAL LIABILITIES AND NET WORTH $1,851 * I used the average total assets of sales percentage and backed into Fixed Assets CLARKSON LUMBER CASE STUDY – FINAN 6022-002 †¢ APPENDIX

Part Two Chapter VIII

VIII Colin Wall saw Gavin and Mary pass under his study window. He recognized Mary's silhouette at once, but had to squint to identify the stringy man at her side, before they moved out of the aureole cast by the street light. Crouching, half-raised out of his computer chair, Colin gaped after the figures as they disappeared into the darkness. He was shocked to his core, having taken it for granted that Mary was in a kind of purdah; that she was receiving only women in the sanctuary of her own home, among them Tessa, who was still visiting every other day. Never had it occurred to him that Mary might be socializing after dark, least of all with a single man. He felt personally betrayed; as though Mary, on some spiritual level, was cuckolding him. Had Mary permitted Gavin to see Barry's body? Was Gavin spending evenings sitting in Barry's favourite seat by the fire? Were Gavin and Mary †¦ could they possibly be †¦? Such things happened, after all, every day. Perhaps †¦ perhaps even before Barry's death †¦? Colin was perennially appalled by the threadbare state of other people's morals. He tried to insulate himself against shocks by pushing himself to imagine the worst: by conjuring awful visions of depravity and betrayal, rather than waiting for the truth to rip like a shell through his innocent delusions. Life, for Colin, was one long brace against pain and disappointment, and everybody apart from his wife was an enemy until they had proven otherwise. He was half inclined to rush downstairs to tell Tessa what he had just seen, because she might be able to give him an innocuous explanation of Mary's night-time stroll, and to reassure him that his best friend's widow had been, and was still, faithful to her husband. Nonetheless, he resisted the urge, because he was angry with Tessa. Why was she showing such a determined lack of interest in his forthcoming candidacy for the council? Did she not realize how tight a stranglehold his anxiety had gained over him ever since he had sent in his application form? Even though he had expected to feel this way, the pain was not diminished by anticipation, any more than being hit by a train would be less devastating for seeing it approaching down the track; Colin merely suffered twice: in the expectation and in its realization. His nightmarish new fantasies swirled around the Mollisons and the ways in which they were likely to attack him. Counter-arguments, explanations and extenuations ran constantly through his mind. He saw himself already besieged, fighting for his reputation. The edge of paranoia always apparent in Colin's dealings with the world was becoming more pronounced; and meanwhile, Tessa was pretending to be oblivious, doing absolutely nothing to help alleviate the dreadful, crushing strain. He knew that she did not think he ought to be standing. Perhaps she too was terrified that Howard Mollison would slit open the bulging gut of their past, and spill its ghastly secrets for all the Pagford vultures to pick over. Colin had already made a few telephone calls to those whom Barry had counted on for support. He had been surprised and heartened that not one of them had challenged his credentials or interrogated him on the issues. Without exception, they had expressed their profound sorrow at the loss of Barry and their intense dislike of Howard Mollison, or ‘tha' great smug basturd', as one of the blunter voters had called him. ‘Tryin' ter crowbar in ‘is son. ‘E could ‘ardly stop hisself grinnin' when ‘e ‘eard Barry was dead.' Colin, who had compiled a list of pro-Fields talking points, had not needed to refer to the paper once. So far, his main appeal as a candidate seemed to be that he was Barry's friend, and that he was not called Mollison. His miniature black and white face was smiling at him out of the computer monitor. He had been sitting here all evening, trying to compose his election pamphlet, for which he had decided to use the same photograph as was featured on the Winterdown website: full face, with a slightly anodyne grin, his forehead steep and shiny. The image had in its favour the fact that it had already been submitted to the public gaze, and had not brought down ridicule or ruin upon him: a powerful recommendation. But beneath the photograph, where the personal information ought to have been, were only one or two tentative sentences. Colin had spent most of the last two hours composing and then deleting words; at one point he had managed to complete an entire paragraph, only to destroy it, backspace by backspace, with a nervous, jabbing forefinger. Unable to bear the indecision and solitude, he jumped up and went downstairs. Tessa was lying on the sofa in the sitting room, apparently dozing, with the television on in the background. ‘How's it going?' she asked sleepily, opening her eyes. ‘Mary's just gone by. Walking up the street with Gavin Hughes.' ‘Oh,' said Tessa. ‘She said something about going over to Miles and Samantha's, earlier. Gavin must have been there. He's probably walking her home.' Colin was appalled. Mary visiting Miles, the man who sought to fill her husband's shoes, who stood in opposition to all that Barry had fought for? ‘What on earth was she doing at the Mollisons'?' ‘They went with her to the hospital, you know that,' said Tessa, sitting up with a small groan and stretching her short legs. ‘She hasn't spoken to them properly since. She wanted to thank them. Have you finished your pamphlet?' ‘I'm nearly there. Listen, with the information – I mean, as far as the personal information goes – past posts, do you think? Or limit it to Winterdown?' ‘I don't think you need say more than where you work now. But why don't you ask Minda? She †¦' Tessa yawned ‘†¦ she's done it herself.' ‘Yes,' said Colin. He waited, standing over her, but she did not offer to help, or even to read what he had written so far. ‘Yes, that's a good idea,' he said, more loudly. ‘I'll get Minda to look over it.' She grunted, massaging her ankles, and he left the room, full of wounded pride. His wife could not possibly realize what a state he was in, how little sleep he was getting, or how his stomach was gnawing itself from within. Tessa had only pretended to be asleep. Mary and Gavin's footsteps had woken her ten minutes previously. Tessa barely knew Gavin; he was fifteen years younger than her and Colin, but the main barrier towards intimacy had always been Colin's tendency to be jealous of Barry's other friendships. ‘He's been amazing about the insurance,' Mary had told Tessa on the telephone earlier. ‘He's on the phone to them every day, from what I can gather, and he keeps telling me not to worry about fees. Oh God, Tessa, if they don't pay out †¦' ‘Gavin will sort it out for you,' said Tessa. ‘I'm sure he will.' It would have been nice, thought Tessa, stiff and thirsty on the sofa, if she and Colin could have had Mary round to the house, to give her a change of scene and make sure she was eating, but there was one insuperable barrier: Mary found Colin difficult, a strain. This uncomfortable and hitherto concealed fact had emerged slowly in the wake of Barry's death, like flotsam revealed by the ebbing tide. It could not have been plainer that Mary wanted only Tessa; she shied away from suggestions that Colin might help with anything, and avoided talking to him too long on the telephone. They had met so often as a foursome for years, and Mary's antipathy had never surfaced: Barry's good humour must have cloaked it. Tessa had to manage the new state of affairs with great delicacy. She had successfully persuaded Colin that Mary was happiest in the company of other women. The funeral had been her one failure, because Colin had ambushed Mary as they all left St Michael's and tried to explain, through racking sobs, that he was going to stand for Barry's seat on the council, to carry on Barry's work, to make sure Barry prevailed posthumously. Tessa had seen Mary's shocked and offended expression, and pulled him away. Once or twice since, Colin had stated his intention of going over to show Mary all his election materials, to ask whether Barry would have approved of them; even voiced an intention of seeking guidance from Mary as to how Barry would have handled the process of canvassing for votes. In the end Tessa had told him firmly that he must not badger Mary about the Parish Council. He became huffy at this, but it was better, Tessa thought, that he should be angry with her, rather than adding to Mary's distress, or provoking her into a rebuff, as had happened over the viewing of Barry's body. ‘The Mollisons, though!' said Colin, re-entering the room with a cup of tea. He had not offered Tessa one; he was often selfish in these little ways, too busy with his own worries to notice. ‘Of all the people for her to have dinner with! They were against everything Barry stood for!' ‘That's a bit melodramatic, Col,' said Tessa. ‘Anyway, Mary was never as interested in the Fields as Barry.' But Colin's only understanding of love was of limitless loyalty, boundless tolerance: Mary had fallen, irreparably, in his estimation.