DNA Essay - 1256 Words

To understand how genetic characteristics and DNA work together, we must look at DNA and understand how it is structured. The sugars adenine (A), thymine (T), cytosine (C) and guanine (G) are nucleotide bases, the building blocks of DNA. These sugars interact with each other, forming DNA strings/chains. An example is GATCATCCG, this string serves as a manual for building a protein. The DNA contains the entire building instruction, the blueprint to construct an organism (animals, humans, plants or microorganisms). However, this is a very simple overview and to do DNA truly justice, we need to get into more detail. Organisms make protein after reading the manual of making RNA which is an authentic copy of DNA. The body translates the†¦show more content†¦According to the report, the classification of erroneous synthesis is, any disturbance in the translation of the coding sequence into functioning protein. Amino-acids can become compromised when built, resulting from transcription errors when DNA reads the manual to make RNA. Aberrant splicing may occur, faulty modifications and folding errors are possible too. On the other hand, correctly synthesized polypeptides that fail to fold correctly are also included. Although these errors may take place in all steps of the protein synthesis, from the copying to the folding process; the consequences are widespread. There is not much knowledge about this yet. Although, there is enough evidence that faulty protein synthesis results in lesser fit organisms. The consequences of erroneous protein synthesis can be minor, which might only affect the cellular material that is responsible for the rejuvenation of cells, causing deformed cells, or excessive cell growth. These irregularities might affect the organism itself, but might not transfer into the genetic material used for reproduction. With other words, when faulty protein is built, or folded wrong, it results in deformation of cells/organs and/or affects the quality of the genetic material of the organism. Very little was known, only 5%, the research started 45 years ago. However, the publication only elaborates that errors can be divided into two categories. CategoryShow MoreRelatedDna Essay778 W ords   |  4 PagesAbstract This paper explores the history and some interesting facts about DNA. The last couple centuries have seen an exponential growth in our knowledge of DNA. The history of the DNA can be traced back to multiple devoted scientist. This article attempts to summarize, and review the basic history of DNA while providing some fascinating information about it. A Brief Historic Review Throughout the early 19th and 20th century, many scientists have studied deoxyribonucleic acids inRead MoreDNA Essay843 Words   |  4 Pages DNA After staying on the plant Earth reaching the human genetic technology, I have come up with this report the four things I am going to talk about in this report are: 1) What is the chemical basis of the plant Earth 2) What do human mean by quot;genetic technologyquot; and how is it possible 3) How have human used this technology 4) Are humans concerned about this technology 1)The chemical basis of the plant earth is deoxyribonucleic acid (generally shortened to DNA), it has the shape ofRead MoreDna Essay1045 Words   |  5 Pages2.10 binding analysis of investigated complexes with Calf thymus DNA (CT-DNA) 2.10.1 Viscosity for DNA in the presence investigated complexes Oswald micro†viscometer was used for measuring the viscosity of investigated complexes at constant temperature 25 oC. With maintaining the concentration of CT-DNA constant (420 uM), the Fluidity times were registered for different concentrations of investigated complexes (0 - 250 ÃŽ ¼M) [13,16,19,20,26,27,28,29,30,34,39]. Bubbling nitrogen gas is used for Read MoreDna Essay999 Words   |  4 PagesDNA is the hereditary structure material of life (Merriam), It tells us who we are, and why we are who we are. For us to be whom we are, we have to have a lot of DNA. With that being said, you should know that DNA is constantly replicating itself to make more. While DNA replication is usually very accurate, there is always room for error. When errors occur in the DNA strand, it is called a mutation. A mutation is the changing of the structure of a gene. This results in a variant form thatRead MoreDna Essay807 Words   |  4 Pagesarticle ended with the assumption that the di scovery of the structure of DNA could explain the copying mechanisms of genetic material. With the structure of DNA in hand, molecular biology became the fastest growing science. Until 50th scientists had known that DNA it’s big molecule, which consist of thousand connected to each other in line small molecules of four different types – nucleotides. Also, scientists knew that DNA is responsible for storing and transmitting genetic information similarRead MoreDNA Essay1420 Words   |  6 Pages DNA Deoxyribonucleic acid and ribonucleic acid are two chemical substances involved in transmitting genetic information from parent to offspring. It was known early into the 20th century that chromosomes, the genetic material of cells, contained DNA. In 1944, Oswald T. Avery, Colin M. MacLeod, and Maclyn McCarty concluded that DNA was the basic genetic component of chromosomes. Later, RNA would be proven to regulate protein synthesis. (Miller, 139) DNA is the genetic material found in most virusesRead MoreDna Essay794 Words   |  4 PagesThe Interesting History and Facts of DNA Kevin T. Hoang James Martin High School Abstract This paper explores the history and some interesting facts about DNA. The last couple centuries have seen an exponential growth in our knowledge of DNA. The history of the DNA can be traced back to multiple devoted scientist. This article attempts to summarize, and review the basic history of DNA while providing some fascinating information about it. A Brief Historic Review ThroughoutRead MoreThe Discovery of DNA Essay723 Words   |  3 PagesDNA – the very molecule that defines who we are. It is still fascinating that a molecule that is so small that is not visible to the naked eye determines not just our physical appearance but also our mental wellbeing. Over 60 years, the discovery of the double helix DNA had impacted various fields relating to Biology and Chemistry, contributing to the advancement of technology and subsequently mankind too. The discovery of DNA had opened up many opportunities in the field of genetics. By analysisRead More DNA Extraction Essay586 Words   |  3 PagesDNA Extraction In extracting chromatin from the cells of wheat germ there are seven steps to follow. The optimal cell to use would be the polyploidal eukaryotic. Eukaryotes have nucleus membrane-bound organelles, while prokaryotic does not. The polyploidal eukaryotic cell has DNA that is held in the nucleus while the prokaryote has DNA that floats freely around the cell. The DNA of eukaryotes is more complex and extensive than the other. Prokaryote is a bacterial cell thatRead MoreEssay On Dna Storage790 Words   |  4 Pagesit’s literally inside everyone and everything, any guesses, it’s DNA. So, hypothetically if we’re to store information in our DNA does that make us cyborgs, ah? Before we get too hypothetical, why DNA from all things. First of all, DNA will stand time long before an individual passed and secondly DNA is universal as DNA is in everyone and everything and thirdly DNA can be easily replicated without a limitation. Therefore, will DNA be the future of storing media? Yes. It’s evident as companies and

The Slavery Of The South - 1561 Words

The South, on the other hand, was highly dependent upon the institution of slavery. It was still primarily an agricultural society that needed as many laborers as possible in order for the plantation owners to make ends meet. According to historian Douglas Harper, â€Å"In 1793 came the cotton gin, which brought a 50-fold increase in the average daily output of short-staple cotton, promoted the rapid expansion of a ‘cotton kingdom’ across the Deep South, and made large-scale slavery profitable.† Because of this, the slave became an essential tool to the farmers of the south; more money became invested in slavery rather than in industrial improvements. Based upon the 1860 U.S. Census, there were almost a whopping total of four million slaves in the South alone. In fact, the more slaves an owner had, the more prestige. â€Å"Most slave owners owned fewer than five slaves, and only 12 percent of Southerners had twenty or more slaves. Many whites who had no slaves looked with envy upon the wealthy, and to a degree admired them.† This hierarchy had a clearly defined social structure which created distinctions between rich and poor whites as well as racial segregation. This agricultural society and its strict hierarchy only increased the social and racial disparities found in the southern region of the United States. These differences in cultures inevitably led to the difference in Bible interpretations. These different interpretations occurred primarily in response to the moral debateShow MoreRelatedThe Slavery Of The South Essay810 Words   |  4 Pages The South was Agricultural, while the North had become industrial. Dutch traders brought African slaves to Virginia in 1619. These slaves were often traded for casks of rum. Samuel Slater started one of the first factories in the North. Slater built a cloth factory at Pawtucket, Rhode Island. In 1839, Charles Goodyear discovered the process for vulcanizing rubber. Elias Howe, a Cambridge mechanic, invented the sewing machine in 1845. In 1973, Eli Whitney had invented the cotton ginRead MoreSlavery in the South Essay680 Words   |  3 PagesSlavery in the South A large majority of whites in the South supported slavery even though fewer of a quarter of them owned slaves because they felt that it was a necessary evil and that it was an important Southern institution. In 1800 the population of the United States included 893,602 slaves, of which only 36,505 were in the northern states. Vermont, Pennsylvania, Massachusetts, Rhode Island, Connecticut, New York, and New Jersey provided for the emancipation of their slaves beforeRead MoreEssay on Slavery Is The South682 Words   |  3 Pages Slavery is the South Essay #3 Slavery played a dominating and critical role in much of Southern life. In the struggle for control in America, slavery was the South’s stronghold and the hidden motive behind many political actions and economic statistics. By dominating Southern life, slavery also dominated the economic and political aspects of life in the South from 1840 to 1860. By the 1840’s and 50’s the Southern economy had almost completely become slave and cash crop agriculture based. WithoutRead MoreEssay Slavery in the South631 Words   |  3 PagesSlavery in the South The introduction of slavery in the Southern colonies helped the development of their economy. The plantation owners had no choice but to turn to slaves because of the lack of colonial workers and indentured servants. Slaves increased the productivity and profits generated by the huge plantations in the South because they had advantages over indentured servants. It also caused the South grow and develop different from the North, which would later lead to conflictRead MoreNorth and South on Slavery1040 Words   |  4 PagesThe North and South have very different views on slavery. This has lead to lots of tension and fighting. When people were first settling here they had slaves. It has been going on for almost 100 years. Starting around the Revolutionary war the North became opposed to slavery. They had less use for them as time went on. The South, on the other hand, felt they needed slavery. They had to harvest tobacco and cotton as fast as possible. They knew they couldnâ€℠¢t do it themselves so they bought lots ofRead MoreSlavery And The South America896 Words   |  4 PagesSlavery and The South The three ads about the slave runaway are seen most of them happing in the 18 and 19th in the Antebellum south and most of the ads are discussed in my paper basically coming from North Carolina. The slave runaway was considered a big issue back in that time especially for the slave owners who are relied on them to make their income and enhance their life economy. As seen on three ads and in reading different sources are pertained to slaves found that The North Carolina are reliedRead MoreThe South after Slavery1659 Words   |  7 PagesThe South After Slavery It is no secret that slavery was a huge part of the southern part of the United States for a very long time. Life below the Mason-Dixon Line was forever changed because of slavery and the effects it had on Americans. It is hard for this generation to imagine the discrimination because America is such a melting pot today. There are still some people who discriminate today, however, it is nothing compared to what it was several years ago. Although slavery was a negative thingRead MoreSlavery in the South Essay868 Words   |  4 PagesSlavery in the South Slavery of the Black man in America was the cruelest ever known to man. Europeans transported slaves from Africa as early as 1505. The African Slaves were first exploited on an island named Hispaniola, in the Caribbean by the Europeans to do labor work, before they were sent to the Americas. The women usually worked the interior cooking and cleaning while the men were sent out into the plantation fields to farm. These Africans were stripped of their homes, cultures, andRead MoreThe Slavery Of The North And South949 Words   |  4 Pagesas the dominate issue that produced The Civil War. The war was caused by many disputes such as sectionalism, expansion of slavery, and abolitionist. Although there were many issues some were consider to be much more influential than the others. These include sectionalism and the expansion of slavery. The North and South could not seem to stop arguing over the expansion of slavery to the west as well as their many differences in other areas. The southern economy being primarily agricultural did notRead MoreThe Slavery Of South Carolina895 Words   |  4 Pagescontrast to the other three colonies discussed, the institution of slavery in South Carolina was initiated, legalized, and maintained for distinct reasons; the founders of the colony felt that slavery was absolutely necessary for economic prosperity and their unwavering urge to protect the institution at all costs contributed towards the severity of the slave-enforcement acts and codes. By looking at the legislation passed in South Carolina, one can grasp the extent to which slaves were legally stripped

Explain “Transfer Pricing” as presented in Stealing Africa Free Essays

Explain â€Å"Transfer Pricing† as presented in Stealing Africa. Transportation Pricing: When there is any kind of trade or merchandising or buying that occurs between two companies that are lawfully related someway so the monetary value of the goods or the merchandises that are traded between those two companies is what we call reassign pricing. Transfer pricing is fundamentally the money saved by the company by hedging revenue enhancement through selling the goods or purchasing the goods from its ain subordinate and so showing it as an disbursal in its balance sheets. We will write a custom essay sample on Explain â€Å"Transfer Pricing† as presented in Stealing Africa or any similar topic only for you Order Now GLENCORE owns the excavation Millss in Zambia and the coal that is obtained from the state is one of the biggest export points of the state and a batch of their fiscal public assistance depend upon this natural resource. What GLENCORE does is that it extracts coal from Zambia through MOPANI mines that it owns in the state and so buys the coal at a monetary value that they set for themselves. This manner they evade paying a higher revenue enhancement rate by demoing a lower income or net income that is generated by the company runing in Zambia. Legally it is of import for companies to bear down a monetary value for a merchandise that they decide to sell and purchase from its subordinate or to its subordinate at a monetary value that would hold been chosen if the company was covering or trading with a company that was non a portion of its entity that is what we normally call an arm’s length trader. Unless and until GLENCORE buys the coal that it extracts from Zambia at a monetary value that it would hold to pay in instance it was purchasing from an independent party. Since the company is non making this, the state and the people of Zambia are enduring through immense losingss in national income as companies like GLENCORE usage transportation pricing to hedge the revenue enhancements that they should really be paying. Taking advantage of the inefficient legal system present in Zambia, the company is carry oning concern in a non-ethical mode. Harmonizing to Stealing Africa and Amos Wilson, Whites are dominant globally because they are still populating on the accrued advantages gained from white privilege historically and in the present. Explain including illustrations. White privilege fundamentally means that a individual gets treated otherwise merely because of his race. When a white individual is given penchant over other people belonging to different races, he is fundamentally sing white privilege. Even though things have been a small better for people from different races late but its still non anything near perfect. Black people are discriminated badly all around the universe but particularly in the western states. The jurisprudence, the province and other establishments are ever biased towards the westerner and the fact that it has been a superior race in the past and is still ruling the universe scenario, it is hard to raise a voice against it and make something to wholly do it halt. In the docudrama, they talked about Marc Rich who had been involved in the biggest fiscal fraud and revenue enhancement fraud in the history of the United States of America but he was still pardoned because of his presence non merely socially every bit good as economically. He had the best of the best attorneies supporting him and constructing up a instance to turn out him guiltless even though there was adequate grounds to convict him and direct him to gaol. GLENCORE’s operations in Zambia are earnestly damaging the country’s environment and public wellness conditions and besides rip offing the country’s fiscal establishments by non paying the right sum of revenue enhancements utilizing transportation pricing to take down their cost and take advantage of Zambia’s uneffective legal system utilizing their expert attorneies and comptrollers that gathers informations and physiques instances and present studies that can non be countered by the Zambians. Africa is a affluent continent yet many Africans live in poorness. Explain. Africa is so a rich continent but the continent is non rich in footings of fiscal criterions and economic growing. The continent is highly affluent when it comes to holding natural resources that are an of import trade good out in the universe and that have attracted legion Multinationals in to the continent. Now even though many would state that the foreign direct investing inflow would assist the states in the continent flourish and recognize their true potency but that is non what is go oning. Majority of the African states are really a portion of the list that includes the poorest states and the little economic sizes. The major ground for this is that the legal system in these states is really inefficient as of now. There is high corruptness and really small focal point on the some of the really major issues such as wellness and instruction. The political system in these states is besides really weak which makes the provinces really vulnerable to foreign influence and puts them at a hazard of being exploited which is what is go oning. The multinationals that are runing in the states in Africa are taking advantage of the all the loopholes on the system and operating in an unethical manner which consequences in highly high net incomes for them but the states itself and the people populating there are severely affected. The negative effects on the people are non merely restricted to pollution and corruptness, there is small money available to better the substructure and no focal point on instruction as they lack even more major basic necessities like nutrient and wellness attention. The rate of unemployment is besides really high and the immense companies prefer paying below the globally recognized pay rates taking advantage of the fact that the people in these states are highly despairing for a occupation. Harmonizing to Amos Wilson ( Blueprint for Black power ) , the wealth of people is non in their things but in their heads. Explain. If the wealth you had depended upon the things that you had so Africa wouldn’t have been fighting with issues such as poorness and unemployment. Taking the illustration of Zambia as it was discussed rather briefly in the docudrama, the state is fighting with serious issues and even though it has copiousness of natural resources like coal, it still fails to better its conditions and is a direct to foreign development. The states that have leverage on other states are the 1s that can acquire what they want even if its illegal and so protect themselves from the effects. They do that by assailing at the loopholes in the system of these hapless or developing states and utilize their influence to acquire their manner. Even though Zambia has immense sums of coal with it but merely holding the resource with them is non making them any good and the state is enduring at the custodies of the multinationals that aren’t paying adequate revenue enhancement and destructing their environment and people’s wellness without any guilt. If these states had people that could be after a manner to utilize their strength in a manner that could assist them protect themselves against these multinationals and foreign influence so the province of the Zambia would hold been better than what it is now. The state lacks heads that could assist them counter the foreign menaces and influence and do people do concern on their footings since they are utilizing their resources, their land and their people. Merely because Zambia lacks a proper system and proper planning and heads that can happen a manner to leverage their place, they will maintain on enduring from legion issues even when it is highly affluent when it comes to natural resources like coal. How to cite Explain â€Å"Transfer Pricing† as presented in Stealing Africa, Essay examples

Television Broadcasters v Ashtons Nominees Pty Ltd †Free Samples

Question: Discuss about the Television Broadcasters v Ashtons Nominees Pty Ltd. Answer: Introduction: The issue that arises in this case is if Violet and Sonny can be considered as being liable Friendly Bank regarding the loan taken by Busy Bee Florist Shop. For deciding this question, it has to be seen if Violet and Sonny can be considered as partners and therefore liable to repay the loan. According to the Partnership Act, a partnership has been mentioned as a relationship that exists between the parties who are carrying on business in common and for making a profit. Hence, in case of a partnership, two or more parties enter into an agreement. According to which they were going to join the legally binding relationship. As a result, this relationship can be described as being contractual in nature. In this regard, Tindal J. had stated in Green v Beesley (1835), that the definition of partnership has always provided to be a medium of participation, but in such a case, the result is not the creation of a legal entity even when a partnership is created by the participants. There is another decision given in Smith v Anderson (1880), where the concept of partnership has been described by James LJ. According to them, there are definite individuals present in case of partnership for bound together by the contractor has been formed between such persons to jointly make efforts t o achieve a joint objective, either during the pleasure or for the time prescribed by them. Such agreement essentially comprises of the persons who originally intended to become a part of the contract with each other. On the other hand, although a number of definitions of partnership are present, but still limitations are present on the number of persons who may become partners. The Corporations Act also provides the relevant provisions in this regard. According to the law of partnership, the partnership will have its own name and it will be called the name of the firm (Lang v James Morrison Co Ltd., 1911). The partnership law finds its origin in case law and also in statute law. The rendering legislation in this regard is the Partnership Act, 1892. According to the partnership law, it has been mentioned as a special type of agency. The reason given in this regard is that when a partner is acting in course of business of the partnership, the partner is treated to be acting as an agent of the other partners (Lang v James Morrison Co Ltd., 1911). In order to decide the presence of a partnership, the law requires that there are three elements, the presence of which is necessary in order to come to the conclusion that the relationship between the parties can be described as a partnership. Hence, in order to create a partnership, it is necessary that the parties should be carrying on business; the business should be carried on in common are the parties and in order to make profit. The law provides that all the above-mentioned elements be present for the purpose of creating a partnership. Th erefore even if a single element is missing, the relationship between the parties cannot be termed as partnership. For the purpose of deciding the meaning of "carrying on business", it has to be seen if some reputed business of action needs to be established as against a single action on the part of the parties. However, the courts have stated in several cases that it is necessary to establish a reputation or continuity of action. An example can be given of Smith v Anderson (1880), where a group of investors decided to purchase the shares in submitting cable companies. For this purpose, they decided to form a trust. The shares were sold by the trustees to the investors along with the certificate. After some time, Smith made an application to wind up the trust. It was alleged that the trust was illegal association as a result of the application of section 4, English Companies Act, 1862. It was mentioned in this section that it was not possible to form a company, association of partnership having more than 20 persons for carrying on business, if it has not been registered. Therefore in this case th e issue before the court was to see if the trust formed by the parties can be described as a partnership. In order to deal with this issue, the court looked at the nature of the trust and also the relationship between the parties were formed the trust. The court noted that even if the persons holding certificate were allowed to elect trustees and to receive a trust report, the trustees were also given some powers of management but at the same time, it was also noted that there just isn't not have the authority to speculate. In the same way, mutual rights and obligations have not been imposed on the persons involved in the trust. Under these circumstances, the court arrived at the conclusion that in this case, the trust was not a partnership as there was no association in order to "carry on business". The Partnership law contains certain rules that can be applied for making a decision if a particular decision can be described as a partnership,. In this regard, section 2(2) has provided that only due to the fact that a person is sharing the gross returns of the business, does not in itself mean that the person is a partner, where the persons sharing their returns do not have a joint or a common right in the property. Therefore, only as a result of the fact that the gross profit of the business is being shared, it cannot be claimed that a partnership has been created. For example, in Cribb v Korn (1911) Korn was given employment by a land owner as a rural worker. At the same time, the landowner had also entered into a contract with Cribb. The provisions of this agreement provided that the landowner was going to have exclusive control and observation over a particular part of the land belonging to Cribb. It was also mentioned in this agreement that Cribb will provide the machinery and stock and in return, the land owner will give half of the proceeds of sale. These were the circumstances when Korn suffered an injury while working on the land. Our very decided to claim compensation from Cribb. The reason given by Korn, was that there was a relationship of partnership between landowner and Cribb. By deciding the case, the conclusion of the High Court was that the relationship between the parties cannot be described as a partnership and it was merely a tenancy. The reason given by the court was that in the present case, the landowner has been given the exclusive right over the land while Cribb did not have any control on the working of the landowner on the land. As a result, the parties had not intervened to partnership and the relationship was that of tenancy. The court also stated that view of the legal position with provides that merely sharing the gross returns cannot be treated as sufficient in order to establish a partnership, it only amounted to rent. Hence, for the purpose of the creation of a partnership, it is necessary that the parties with be able to establish that they had an agreement to carry on some business. In the present case, for example, the parties were going to be involved in farming. The business should be carried on in, and with a view to make profit. Later on the profit was going to be divided among the parties or, it was going to be applied. For some agreed objective. On the other hand, if the case mentioned above, it would not be established that the appellant had the intention of being involved in forming or to be related with the transition that goes beyond the right to receive compensation. The next rule that is relevant in this regard, deals with the sharing of profit and loss. According to the partnership law, when a person is going to receive a share from the profit of the business, prima facie, it has to be considered as evidence regarding the fact that the person is a partner. But it needs to be mentioned at this point than only the fact of sharing the profit on receiving a payment that is based on the profit of the business, does not provide that the person can be treated as a partner. The partnership law has not described the term profit. Dealing with decision, the court had stated in Re Spanish Prospecting Co Ltd [1908-10] that to decide the prophet, a company needs to be made between the position of the business on two particular dates. Generally these dates are separated by a year. In this way, the basic meaning of profit can be described as the amount that has been achieved by the business during that particular period. In the present case, a difficulty may arise while applying the above mentioned test. The reason is that the term 'prima facie' has been used before the term evidence. Therefore, on these grounds can be stated that the fact of a profit sharing scheme between the parties can be considered to be evidence supporting the existence of a partnership, but only due to this thread, it cannot be claimed that there is a partnership present between the parties (Television Broadcasters Ltd v Ashtons Nominees Pty Ltd (No 1), 1979). Cox v Hickman (1880) is also an important case in this regard. In this case, the Smiths were acting as partners, and they were doing the business of iron masters and corn merchants. When the business started the face financial problems, they assigned the property of the business to its creditors as trustees. The agreement provided that the creditors were going to run the business as trustees. After paying the current expenses, the income generated by the business was to be divided among the creditors. After the creditors have received their payment in full, they were going to reconvene the property to the Smiths. In this regard, Wheatcroft and Cox, along with other creditors, have been appointed as trustees. But Cox never assumed the position of a trustee and Wheatcroft also acted as that only for six months. After some time, the other trustees had incurred a debt from Hickman. Therefore, Hickman started legal proceedings against Cox and Wheatcroft. He claimed that both of them were the partners in business. Therefore they should be held liable for these debts. However, the decision of the court was that while it was argued that the creditors including Cox and Wheatcroft were interested in the profit made by the business and consequently, they should be treated as partners, however generally the test related with the assistance of partnership requires to be seen if the person can receive an amount out of the profit. Generally, this is a sufficientl y accurate test. However the real test that is applicable in such cases is to see if some other person was acting on behalf of the other. And so in such cases it can be the person was liable for the obligations of the business. As a result, the court gave the verdict that in this case, Cox Wheatcroft cannot be held liable as they were not partners. When the above-mentioned legal position is applied to the facts of this case, it can be concluded that Violet had given a loan of $20,000 to the business. It was provided by the loan agreement that the lender was to receive a share of 20 percent from the profit made by the business. However, the agreement provided that Violet was not going to be considered as a partner. But in the present case, all the requirements are fulfilled and therefore Violet needs to be treated as a partner. Sonny had agreed to lend $10,000 to the business. The agreement provided that Sonny would be receiving his salary as well as one eighth share, from the profit of the business. But as mentioned above, it is not conclusive evidence that a person is going to receive a share from the profit of the business. Hence, in the present case, the essential elements are not present, therefore Sonny cannot be treated as a partner. It can be concluded that Violet is liable to repay the loan, but Sonny is not liable to Friendly Bank regarding the loan. References Cox v Hickman (1880) 8 HL Cas 268 Cribb v Korn (1911) 12 CLR 205 Green v Beesley (1835) 2 Bing N C 108 Lang v James Morrison Co Ltd (1911) 13 CLR 1 Re Spanish Prospecting Co Ltd [1908-10] All ER Rep 573 Smith v Anderson (1880) 15 Ch D 247 Television Broadcasters Ltd v Ashtons Nominees Pty Ltd (No 1) (1979) 22 SASR 552