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There are various reasons given for militarisation by the countries – 1)        Some defend their acts by saying that they are preparing one’s country for the possible conflicts of the future. 2)       Still some people might like to defend the humongous spending done by the countries by suggesting that building these weapons leads to the economic welfare by bringing valuable foreign exchange reserves by selling the weapons to the other countries. Moreover, the weapons built indigenously also encourage social welfare in the following way – The private company in the country builds the weapons for which the company sets up the industry which in turn employs people of the country. The revenue generated by selling these weapons to the country will result in revenues for the company and the company can invest the amount in getting new technologies and further scale up the production processes which in...

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Science cannot start from nowhere and progress from there. There should be some base or belief which gives the initiation. For scientific community, such basis or initiation is provided by a set of shared beliefs. People may think that science always tries to explore something unknown . The fact is that Science researches what is already known. By exploring something unknown, scientists do not want to spoil their reputation of knowing all about the world. So research in Science is not about finding something new but it is only an effort to encapsulate nature into conceptual boxes devised by professional education. Kuhn opines that scientific community depends more on shared thought than on individual commitment to science to continue their scientific activity. These shared thoughts survive as long as they are not challenged and replaced by new ones. These new assumptions are called by Kuhn as ‘paradigms’. Kuhn opines that the concept of paradigm...

The conduct of Townsville in the present circumstances, whether or not amounts to economic duress has to be determined on various touchstones and parameters including the changing approach of the Australian Judiciary on the topic of economic duress because the judicial sensibilities have undergone a sea of change regarding the subject of economic duress. To develop a better understanding of the same, a very brief insight into the facts of the case is being submitted here. The agreement was entered into between the two parties when the market was very volatile and the price was fixed for a period of 24 months. For a delivery made in March, CML would receive payment in June.   A concession of three months was granted to Townsville for each shipment. It can be safely stated that the terms offered to Townsville were quite liberal and favourable to Townsville. After the decline in the free/spot market price of bauxite, it communicated to CML that ...

A partnership is a type of unincorporated business organization in which multiple individuals, called general partners, manage the business and are equally liable for its debts; other individuals called limited partners may invest but not be directly involved in management and are liable only to the extent of their investments. Unlike a Limited Liability Company or a corporation, in a partnership each partner shares equal responsibility for the company's profits and losses, and its debts and liabilities. The partnership itself does not pay income taxes, but each partner has to report their share of business profits or losses on their individual tax return. Excellences of partnership firm include operation of business being very simple and uncomplicated in nature. No written agreement for the business structure is required and the profits belong to the partners completely. Another advantage of a partnership firm is that resources of different par...