Rights Of A Banker free essay sample

In Halsbury’s Laws of England, it is expressed: Lien is, in its essential sense, a privilege in one man to hold what is in his ownership having a place with another until specific requests of the individual under lock and key are fulfilled. In its essential sense, it is given by law and not by contract. In Chalmers on Bills of Exchange, the importance of the Banker’s Lien is expressed: A bankers’ lien on debatable protections has been judicially characterized as ‘an suggested pledge’. An investor has, without consent in actuality ,a lien on all bills got from a client in the conventional course of banking business in regard of any parity that might be expected from such client. it ought to be noticed that the lien stretches out just to debatable instruments which are dispatched to the broker from the client with the end goal of assortment . At the point when assortment has been made the procedure might be utilized by the financier in decrease of the customer’s charge balance except if in any case reserved. We will compose a custom article test on Privileges Of A Banker or on the other hand any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page We can likewise allude to Peget’s Laws of Banking, where talking about the Banker’s lien the scholarly creator has expressed that separated from a particular security, the broker can look to his general lien as an assurance against misfortune on credit or overdraft or other credit office. The general lien of financiers is a piece of law dealer and judicially perceived accordingly. * TYPES OF LIEN; There are two kinds of lien, for example, I. Specific LIEN Particular lien is one, in that the expert can hold those merchandise on which he has invested energy, exertion and cash until he is paid. In Particular lien the lender doesn’t reserve the privilege to hold all the properties of the account holder. Under Section 170 of the Indian Contacts Act, 1872 the arrangement identifying with explicit lien has been set down. General lien gives theâ bankerâ the option to hold merchandise and protections appointed to him in his ability as aâ banker, without an agreement conflicting to one side of lien. It stretches out to all products/properties set with him as a bankerâ by his client which are not especially distinguished for another reason. In India, the privilege of general lien is uniquely given on bank by Section 171 of the Indian Contacts Act, 1872 which peruses as; â€Å"Bankers, factor, wharfingers, lawyers of a High Court and approach representatives may, without an agreement unexpectedly, hold as a security for a general equalization of record, any merchandise bailed to them; however no other individual have a privilege hold, as a security for which balance, products, bailed to them, except if is an express agreement to that effect†. Most definitely there is no need of any extraordinary understanding, composed or oral to make the privilege of lien, yet it emerges just by activity of law for, under the Indian Law, such an understanding is suggested by the terms of Section 171 of the Indian Contract Act, 1872 insofar as the equivalent isn't explicitly barred . All together that the lien ought to emerge the accompanying prerequisites are to be satisfied: 1. the property must come under the control of the investor in his ability as a financier in the common course of business; 2. there ought to be no entrustment for a unique reason conflicting with the lien 3. he ownership of the property must be legally acquired in his ability as an investor; and 4. there ought to be no understanding conflicting with the lien. A general lien emerges out of a progression of exchanges in the general course of business instead of a solitary explicit exchange, for example, the fix of a bit of adornments or a PC. Lawyers, financiers, and Factors for the most part have general liens to guarantee that his customer will pay him for administrations previously played out; a lawyer may hold ownership of the papers and individual property of his customer that fall into his hands in his expert apacity. He additionally has a charging lien on any judgment he has gotten for his customer for the estimation of his administrations. A broker may hold stocks, bonds, or different papers that come into his hands from his client for any broad equalization owed by the client. A factor or commission vendor may clutch all products endowed to him available to be purchased by the proprietor of the merchandise for any funds to be paid. The dealer may offer the merchandise to fulfill his lien, however he should record to the proprietor for any abundance acknowledged from the deal. The general lien on the broker is viewed as something in excess of a common lien; it is an inferred promise. This privilege combined with rights u/s 43 of the Negotiable Instruments Act, 1881 grants bills, notes and checks, of the financier, being viewed as a holder for incentive to the degree of the total in regard of which the lien exists can understand them when due; yet on account of the other debatable instruments e. g. Earer bonds, coupons, and offer warrants to carrier, coming into the banker’s hands and therefore getting obligated to the lien, the character of a promise empowers the broker to sell them on default, if a period is fixed for the installment of the development ,or, where no time is fixed ,after solicitation for reimbursement and sensible notification of aim to sell and apply the returns in liquidation of the sum because of him . The privilege of offer reaches out to all properties and protections having a place with a client in the hands of an investor ,aside from title deeds of unflinching property which clearly can't be sold. The law gives bury alia, a general lien to the investors To guarantee a lien, the financier must be working qua broker under Section 6 of the Banking Regulation Act-It is presently all around settled that the Banker lien gives upon an investor the option to hold the security, in regard of general parity account. The term general parity alludes to all totals by and by due and payable by the client, regardless of whether on credit or overdraft or other credit office. (Re European Bank (1872) 8 Ch App 41) as it were ,the lien reaches out to all types of protections stored ,which are not explicitly depended or to be appropriated. In the matter of Firm Jaikishen Dass Jinda Ram v. National Bank of India Ltd. , Two association firms with a similar set off accomplices had two separate records with the Bank. The Court held that the bank was qualified for suitable the monies having a place with a firm for installment of an overdraft of another firm. Since albeit two separate firms are included they are not two separate legitimate substances and can't be ‘distinguished from the individuals who create them. Common requests existed between the bank from one viewpoint and the people comprising firm on the other. Nor one might say that these requests didn't exist between the gatherings in a similar right. 2. The court can meddle in the activity of the Bank’s Lien. In the issue of Purewal amp; Associates and another v/s Punjab National Bank and othersâ Where the indebted person neglected to satisfy obligations of the bank which brought about forswearing of bank’s administrations to him, the Supreme Court of India requested that the bank will permit the activity of one current record which will be liberated from the occurrence of the Banker’s lien guaranteed by the bank in order to empower the account holder to carry on its everyday business exchanges and so forth nd the freedom was given to bank to organize different procedures for the recuperation of its levy.

Tips on Finding the Best Essay Topics

Tips on Finding the Best Essay TopicsOne of the things that you need to be on the lookout for when it comes to choosing essay topics is to make sure that the topics are related to your experience. There are some people who are good essay writers and others who are not. It is important to know if you are doing it right so that you can excel in the field of writing essays.A lot of professional editors only use the information found in the topic and not the actual information found in the content. They may also want to see that the writers have the ability to create ideas with words. Information found in the topics is not relevant to the content. In fact, a lot of times, those who specialize in content have a lot of experience with the things that students do not put down.When you are looking for topics for your entire essay, look at those that are already used in the job. This will allow you to look at the things that will work for your school or work setting. Topics such as sports, th e stock market, and even government work are great for your essay.There are some websites that provide lists of informational essay topics. Look through these websites and consider what you find in them. You can use these tips when you are trying to select your topics for your own writing project.When selecting essay topics, consider researching these topics when you are a student. You will find that there are a lot of subjects that you would love to write about. The best thing to do is to find ones that you would love to research and write about.There are times when your life or education is based around a topic that is controversial so it would be great to talk about it in an unbiased manner in an educational learning environment. Things such as this are great for your essays. You can write a short story about it that will explain the issues that are involved.Information can be hard to come by, especially in the written form. Sometimes, we may feel that the information that we nee d to share is not available in the materials that we are given. There are many things that a person can learn from other people, and you can help them by sharing information with them.Keep in mind that when you are looking for essay topics, you should take time to consider what is known about the subject. There are many things that you can learn from reading, but there are many other things that you can learn through the written word. Be careful when creating your essay, and you will become a better writer.

Ethical Dilemmas Of The Workplace - 1291 Words

Ethical Dilemmas in the Workplace As a manager, you are the role model for staff. You set the standards, adhere to guidelines, and exemplify what you expect staff to model. By doing so, you are establishing and sustaining an organizational culture of ethics and integrity, which is the backbone of all successful endeavors. However, even the best structured organizations face ethical dilemmas in the workplace. It is how management recognizes and addresses these occurrences that will either set them and their team up for success or for failure. One of the biggest hurtles management can overcome is to be aware of their surroundings because when management fails to notice and act, it is an â€Å"ethical failure† (Bazerman Sezer, 2016, para. 5).†¦show more content†¦Clark (2017) points out that studies have shown that employees from the baby boomer generation believe that the younger generations lack good work ethics and are slackers, thus inhibiting opportunities for collaboration within the team. Managem ent must be mindfully aware of the potential for conflicts when setting up teams of diverse ages and delegating responsibilities accordingly to ensure more inclusion and possibly eliminate conflicts from occurring in the first place (LaMontagne, 2016). Bullying and other negative behaviors can also cause substantial problems. Employees can be made to feel inferior to another coworker or even you as the manager. They may be ridiculed, teased, or withstand having their work continually criticized, causing them to feel isolated and insignificant (Wilson Nagy, 2017). According to Wilson and Nagy (2017), employees who are bullied tend to take more sick leave, may suffer from depression, feel insecure, and can experience long-lasting, negative health effects. To prevent this from occurring, management must continuously be cognizant of how they communicate internally and externally, as well as how staff relates with one another. By not doing so, the organization could lose dedicated, hard-working employees, as well as stake holders and clients. In addition, Clark (2017) suggests that â€Å"understanding of the relationship between bullying and personality dynamics enables organizations to integrate these findings into policies and proce duresShow MoreRelatedEthical Dilemmas in Workplace1634 Words   |  7 PagesEthical Dilemmas in Workplace Personal values may conflict with ethical decision making if those personal values are different than the organizational norms of the business or institution. Constructing, and maintaining personal ethics in the workplace rests with the individual, and how willing he or she is in assimilating to the evolving cultural dynamic of the corporate world. Many times a person find their personal, cultural and/or organizational ethics conflicting and must reconcile a course ofRead MoreEthical Dilemmas Of The Workplace880 Words   |  4 PagesThere are many ethical dilemmas one can face while in a workplace. Some are easy to handle, while others do not have a quick solution. There are also many different interactions that can take place. Ethical dilemmas involving a request from a boss have proven to be difficult situations to handle. In the workplace, it is vital to have a strong relationship with a boss. This is what makes an unethical request from a boss such a hard situation to be put in. One wouldn’t want to sacrifice the relationshipRead MoreWorkplace Ethical Dilemmas931 Words   |  4 PagesWorkplace Ethical Dilemmas Workplace Ethical Dilemmas Ethical dilemmas are what happen when a person is faced with a decision that may press against their personal values or beliefs. At one of my previous jobs, there was a problem with employees conducting their personal business, errands, or hobbies all while on the company’s time. There were many times that people were caught shopping on company computers, playing games or accessing social networking sites, checking personal email accountsRead MoreEthical Dilemma Of The Workplace1213 Words   |  5 PagesLodino, Luiz Sekerka, Leslie Ethical Dilemma A. Identify and summarize key problem(s)/ issue(s): First and foremost Steve, did not consider his job as the best job ever, however he got away with such feeling once he started to create some affinity along his co-workers. Although the other employees were fun, they did not respect the company or management. The environment was loud, laid back in an extreme point where employees did not perform their duty, instead conversations, jokes, music, andRead MoreEthical Dilemmas Of The Workplace1538 Words   |  7 Pages1. Discuss an ethical dilemma that you have had to face in the workplace. Ethical dilemmas often occur when a manager or an employee is faced with two or more conflicting choices. Give as many facts and details as possible in describing your dilemma. The most difficult ethical dilemma I have dealt with was a summer job I had this past summer, while I was working for a bakery in my hometown. This past particular summer really tested what I believe is right and wrong and how to speak up. One of myRead MoreAn Ethical Dilemma in the Workplace780 Words   |  4 PagesAn Ethical Dilemma In The Workplace The Dilemma; An Assistant Teacher, from my Counseling Ministry, has worked for twenty years in many types of school setting and with students from grades Pre-K to High school. During her career, she has encounter unfavorable encounters with her peers, parents and students. One particular incident she received a written reprimand from her supervisor. The supervisor stated she engaged in dishonorable conduct of insubordination. She refuses to abide by the instructionsRead MoreEthical Dilemma at the Workplace1714 Words   |  7 Pagesï » ¿Examine an ethical dilemma that can occur in the workplace Ethical dilemmas are particularly sensitive issues in the workplace because the well-being of the individuals and the organization as a whole are at stake. Employees must feel as though they are being supported and not punished, and should not feel as though they were being put on display; their dignity should always remain intact. This paper examines how, as a high school principle, I would address the issue of one of the high schoolRead MoreWorkplace Ethical Dilemma Paper1064 Words   |  5 PagesWorkplace Ethical Dilemma Paper BSHS / 322 Marcia Winter Introduction Weve all heard the golden rules: In today’s society it is hard to find a good paying job. When one finds a good paying job, that person needs to do whatever he or she can do to keep that job. Ethics can be a problem in a workplace if someone is asked to do something that they do not feel is right. â€Å"Ethics are about making choices that may not always feel good or seem like they benefit you but are the right choices toRead MoreWorkplace Ethical Dilemma Essay1301 Words   |  6 Pages+ Workplace Ethical Dilemma Tanya W. Cooper BSHS/332 Professional, Ethical and Legal Issues in Human Services April 16, 2012 Kathleen Roberts Everyday individuals are faced with issues associated with ethical dilemmas. Ethical dilemmas involve an individual’s behavior toward a moral standard, which may have been established from previous generations and passed along. In upholding the standards taught individual may be forced to take a particular action involving a decision when a behaviorRead MoreEthical Dilemma at Workplace Essay1192 Words   |  5 Pagesï » ¿Introduction – What is an ethical dilemma? Ethics is the term we give to our concern for good behavior.   It is human nature to not only be concerned with our own personal well being, but also that of others and of human society as a whole.   The difference between moral dilemmas and ethical ones, philosophers say, is that in moral issues the choice is between right and wrong.   In ethical ones, the choice is between two rights. Everyday Im faced with decisions of right and wrong, most of which

The Great Gatsby, by F. Scott Fitzgerald and Fahrenheit...

We as humans tend to have an unquenchable thirst for knowledge. We look for knowledge about everybody and everything that surrounds us from our day-to-day life. Sadly though, we must accept that in the grand scheme of life we (as a society) tend to put pleasure above our quest for knowledge. The pursuit of knowledge tends to take time and energy, two things we call invaluable, and it also shows us things that might depress us. Contrastingly, ignorance takes no time and energy. Also, (as the common saying goes) ignorance is bliss. It keeps ugly truths away from us. But that is no reason to forsake knowledge for ignorance. In the early 1900’s, two books were published that would eventually be referred to the pinnacle of classical literature.†¦show more content†¦It seems as though everyone came to Gatsby’s parties, but few actually knew him. As Carraway observes, â€Å"†¦ I was one of the few guests who had actually been invited.† (Fitzgerald 41) The fact that most of the guests seek pleasure even though they have no idea about the host shows that Fitzgerald uses the lavish parties as a symbol for the pleasure without knowledge. It also shows how pleasure without knowledge leads to the degrading of the society. The author uses symbolism to portray the theme. â€Å"It was a special pleasure to see things eaten, to see things blackened and changed.† (Bradbury 1) Fahrenheit 451 is another astonishing work that has a similar theme. It is about a man named Guy Montag. Montag is a fireman which (in the setting of the book) means a person who burns books. Bradbury uses fire as a symbol. Though fire is beautiful, it destroys everything. Similarly, while ignorance seems so blissful yet it destroys human creativity and thought. Mildred has accepted ignorance as a way of life but still feels a sense of self-hatred inside. That is why she had a drug overdose and had to have her blood replaced. Even with the blood replaced, Mildred still feels self-hatred which is apparent in her attitude throughout the book. This suggests that the feeling is not physical but is a symptom of ignorance deteriorating the human mind’s ability to create new ideas. It is unnatural for a human mind to be kept away from attaining knowledge andShow MoreRelatedA ll The Light We Can Not See By Anthony Doerr Essay1493 Words   |  6 Pagestwo. I think this would be a good book for me because I like the European setting and era of this time period, also I think the plot would make for a very interesting storyline. 4) The Great Gatsby by F. Scott Fitzgerald – Modern Library Top 100 -Narrated by Nick Carrway, it follows the infamous Jay Gatsby and his want to be with his long lost love, Daisy Buchanan. This love for her takes him from being very poor to wealth, eventfully to Daisy, and then sadly to death. I think this wouldRead MoreCensorship Is Monitoring Or Withholding Information Essay1694 Words   |  7 PagesAsher, The Hunger Games, by Suzanne Collins, and To Kill a Mockingbird, by Harper Lee, Of Mice and Men, by John Steinbeck, The Great Gatsby, by F. Scott Fitzgerald, Fahrenheit 451, and many other classics. In a book known for being commonly banned or challenged, Fahrenheit 451, by Ray Bradbury, he created a world ruled by censorship and fear in the novel, Fahrenheit 451. Censorship is a common theme in literature. Genres from sci-fi to classic romantic literature explore the damage that can appearRead MoreIntroduction : How ve He Do That?10829 Words   |  44 Pagesstated reason to go there, (d) challenges and trials en route, and (e) a real reason to go there. â€Å"The real reason for a quest is always self-knowledge.† (Foster pg. 3) Essentially this is a formula that many great writers utilize in their books to help them with their characters just like great mathematicians do to help them solve their complex calculations. As expected this â€Å"QUEST† formula is followed in most, if not all, of the literary works around today. Of course it may be more obvious in certain

Life Is Hard, We All Been Put Through It - 1888 Words

Life is hard, we all been put through it. People give up sometimes, especially people who get bullied or abused. It’s not fun to be bullied or abused; it s painful to feel and to see. Life isn t made to be easy, but some humans were created to experience the difficulty of how it feels to work hard or be in pain. From someone who knows people that don’t want to make an effort to survive anymore, it s hard to see them in pain and them talking about killing themselves. Not every human being always makes the effort to survive. They make no effort because some people are lonely, get bullied, or even abused by family members. Some are known to sacrifice themselves to protect others, some commit suicide, and even killing the earth can show no†¦show more content†¦They probably have family, child, pets, loved ones, and they leave what they love behind just to save another. Some people just sacrifice themselves to satisfy the ones they worship. â€Å"Police arrested t wo men, both poor farmers, last week and they told police they killed the girl to appease their gods and get a better harvest†(Chattisgarh, Bijapur. #1) That girl was sacrificed just to satisfy the killer’s worshipper and for their harvest. She probably had family, a happy life, and she was also only seven years old; she had a whole life ahead of her. Some people use animals for things and even obsess over them, but animals can’t speak to defend themselves. â€Å"Experts believe that once teenagers become obsessed with satanic magic and devil worship they are driven to commit increasingly serious antisocial acts such as abusing drugs, vandalizing churches, and cemeteries and killing animals in ritual sacrifices.†(Kail, M. Tony.#2) So another way of sacrificing is the use of animals to help them with their rituals. Even going to the war is one of the the biggest sacrifices in the world. Soldiers leave their families and loved ones to battle in war. Some make it out without wounds or with wounds, and some don’t make it out at all. In the war, they use planes. The pilot is able to shoot the enemy’s plane down and leave, they need to see them crash. In the World of Encyclopedia War Aces, Wilbert Ruenheck

What Do You Think of Amy Chua’s Way of Raising Her Children free essay sample

The ways parents to raise their children are greatly affected by their experiences and culture they are exposed to. Chinese-American mother, Amy Chua, under the influence of strict parenting in her childhood, used the same way to teach her children. There are rules and regulations for their children to follow, such as not being allowed to learn music instruments except piano and violin with no excuse to say no. The reason that the issue has become a controversy is that the parenting method which she is proposing is totally against the common value of Americans which is the importance of personal freedom. Americans believe that everyone has the same right to express their feeling and freedom to choose their future and interests, even children. In my point of view, the way of Amy Chua raising her children does nothing on improving children’s personal development which lay the foundations of one’s personality and future growth. We will write a custom essay sample on What Do You Think of Amy Chua’s Way of Raising Her Children? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page There are reasons as follows. To begin with, tough parenting hinders the individuality of children. They are gradually used to following parents’ commands, thus, they no longer have the ability to think, leading to lack of creativity. Nowadays, many academic subjects require students having creativity, such as, visual arts and literature, how can the parents hope their children having good results without creativity? However, children under tough parenting will not be given chances to develop their potential. For example, Amy Chua didn’t allow her children to join the school play, which prevents them from displaying their interest in drama. Furthermore, harsh parenting leads to ultimate conflicts between parents and children. Following strict rules and regulation day to day, children are living under stress. For example, Amy Chua’s children have to keep on doing exercises without a break, which is too demanding for children’s ability, even an adult cannot keep on working all day long. Children will probably rebel against parents’ instruction by behaving badly, while their parents non-stop intensively their control on children. As a result, vicious circle will be created. Growing up in such a disharmony family, children can’t well develop their potential and they may even become autistic as they think themselves are not being understood, which hinder their personal development. Lastly, children’s motivations of doing best are being wrongly interpreted. Under tough parenting, children try to attain what their parents want instead of their own ambitions. For example, Amy Chua’s children are told that the only grade they can get is â€Å"A†. In other words, the reason for work hard is not themselves but to fulfill their parents’ requirement. It may create a short term return of achievements. However, what if one day they grow up and no longer can rely on parents? They will probably lose themselves causes they never think of their own objectives. To conclude, tough parenting is bad for children’s personal development because of the reasons raised and it will probably affect the future growth of children. Though Amy Chua claims that her parenting method represents â€Å"Chinese parenting†, I don’t think she is clear about the traditional Chinese idea of raising children. Chinese culture and Western culture are different as one is collectivistic while another is individualistic respectively. Chinese parenting concerns about children’s achievements both on academic and other categories because how they perform affects the reputation of their families. On the other hand, Western parenting rather prefers nurturing children by following their feelings and emotions. It is undeniable that some of the rules Amy Chua created are similar with the Chinese parenting. For example, both of them require high academic results. However, their purposes are different. Amy Chua aims at nurturing her children in her way while Chinese parenting focuses on whether people will appreciate their children’s achievement. Also, It is no such thing that a parenting method is superior to another one, because children are unique and different, there should not be any standard to foster a child, instead, we should base on children’s own ability to educate them.

Aims and objectives of the study Essay Example

Aims and objectives of the study Essay The primary research objective of this study is to determine and discuss the key success factors (KSFs) that would ensure the success of a Russian-foreign venture agreement. The study will in particular focus on the IJVs immersed in the oil and natural gas industry. To implement this research objective, the research study aims to examine the history and trends on international joint ventures (IJVs) in Russia, the problems they encounter, and the KSFs that will ensure the success of starting IJVs in Russia. The study will make use of a review of related literature and case study analysis. Even though the thesis will focus on IJVs involved in the oil and natural gas industry, it will cite various case studies of other companies in other industries as well, in order to get a more comprehensive understanding of effective strategies for successful IJVs in Russia. In answering the primary research objective of this research, the thesis will further explore the following secondary research objectives: To provide a background on joint ventures (JVs) and international joint ventures (IJVS) as a whole, particularly as to their advantages and disadvantages. To understand the role of IJVs in Russia’s gas and oil industry. To highlight the problems that IJVs encounter in Russia which contribute to the high failure rate of many of these business arrangements. To identify the key success factors (KSF) that determine the success of IJVs in Russia, through case study analysis of IJVs in Russia. We will write a custom essay sample on Aims and objectives of the study specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Aims and objectives of the study specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Aims and objectives of the study specifically for you FOR ONLY $16.38 $13.9/page Hire Writer To examine the importance of the identified key success factors and the contribution of each factor to the success of IJVs. SIGNIFICANCE OF THE STUDY This research study is relevant because it will seek to improve the success rate of international joint ventures (IJVs) investing in the Russian oil and gas industry by identifying the key success factors (KSF) that will ensure such success. The Russian oil and gas sector generated total revenues of $123. 5 billion in 2005. In 2003, the country’s energy exports accounted for one-fourth of Russia’s gross domestic product (GDP), opening the floodgates to droves of foreign investors excited to cash in on this booming industry (Energy Information Administration, 2005). Russia has also overtaken Saudi Arabia as the world’s leading oil and fuel exporter (Datamonitor, 2006). A huge bulk of investments in the Russian oil and gas industry comes from IJVs arrangements where many organizations set up jointly-owned business entities while at the same time maintaining their independence from each other (Johnson Scholes, 1999). Major American, Japanese, Norwegian, and English petroleum organizations have set up IJVs with local organizations in Russia, but despite the numbers, the failure rate of IJVs have by far outnumbered their success rates (Katsioloudes Isichenko, 2007). The alarming rate of failure of numerous IJVs in Russia poses as a serious threat to the development of the Russian energy industry, and on the country’s economic growth as a whole (Katsioloudes Isichenko, 2007). As such, this thesis is significant in that it will seek to provide recommendations that may help in reversing the increasing failure rates for IJVs in Russia’s energy industry. The findings of this research study can serve as guidelines that will help to ensure the success of an IJV in Russia, which in turn will contribute to the further development of the country’s gas and oil industry, and ultimately, to the improvement of the Russian economy as a whole. BACKGROUND OF THE STUDY A joint venture (JV) constitutes a separate legal entity which is jointly-owned and jointly-managed by the two or more parent organizations, or the â€Å"venturers. † As a general rule, a JV must have the following essential characteristics: 1) a separately identifiable joint venture entity; 2) an ownership interest in such entity by each joint venturer; and 3) an active management involvement, or deliberate abdication of the right to such involvement, by each joint venturer (Eco-Legal and Management Advisory Services Limited, 2003). There are two kinds of joint ventures: the equity joint venture and the contractual joint venture. Joint ventures involve a 50/50 participation of both venture partners, wherein each contributes 50 percent of the equity in return for 50 percent participating control. The degrees of ownership and control, as well as the expected returns, are results of negotiations between the two contracting parties. Problems may arise at this point when parties negotiate their expected valuations or returns, particularly if the joint venture happens to be in a country with a controlled economy or when one party is contributing land or goods and that party happens to be from a country where such land or goods may not have readily ascertainable free market values (Eco-Legal and Management Advisory Services Limited, 2003). There are certain advantages to this 50/50 arrangement, the most obvious is that both partners are equally at risk and have equal rights and obligations as to each other. The Eco-Legal and Management Advisory Services Limited (2003) further provides for the following advantages for organizations that enter into JV agreements: A company with insufficient resources may utilize the financial resources of another company with similar needs or interests, especially with regard to embarking on a particular project. In such a case, both companies will bear the share the potential risks involved in the new venture and reduce the burden of investment costs since all expenses are split into two between the two companies involved. The parties may extend their capabilities and business opportunities by pooling together their resources, technology, and expertise. Either one of the parties may expand its market power or even expand into a foreign market with which it has no familiarity. A JV agreement is especially helpful because the venturer who is located in the country or area where the other venturer wishes to expand is more familiar with local business customs and trends. The challenges in forming JVs are not limited to those challenges experienced for Russian JVs and international joint ventures (IJVs) alone. Studies show that a majority of large JVs encounter serious financial or managerial problems within the first two years of operation. Some common difficulties encountered by joint ventures in general are listed below (Hewitt Associates, 2008): The philosophy governing expectations and objectives of the joint venture agreement is unclear. There is an imbalance in the level of investment and expertise brought to the joint venture by the two parent organizations. The senior leadership and management teams for the joint venture receive inadequate identification, support, and compensation. The JV partners possess disparate, and usually conflicting, organizational cultures and operational styles. The JV’s size is modest compared to the two parent organizations. Thus, poor or unclear leadership, different corporate cultures, and a poor integration process contribute greatly to the failure of JVs, by analogy, of IJVs as well. Similar to the challenges outlined by Hewitt Associates (2008), the Eco-Legal and Management Advisory Services Limited (2003) provide for the following similar challenges that may lead to the failure of JV agreements: In sum, entering into a joint venture agreement is definitely not for the faint of heart. JVs offer a host of benefits to the parties involved, but both parties cannot simply enter into an agreement without carefully weighing out the risks involved and coming to terms with goals, expectations, and capabilities of each party. What makes it especially harder for JVs and IJVs in Russia is that in addition to the challenges that JVs in general have to deal with – whether or not they are located in Russia – they also have to deal with other problems that are unique to the Russian business industry and economic milieu.