Uses For Derivatives And Hedging Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 3081 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? In  finance, a  derivative  is a financial instrument (or, more simply, an agreement between two parties) that has a value, based on the expected future price movements of the asset to which it is linked-called the  underlying asset  such as a  share  or a  currency. There are many kinds of derivatives, with the most common being  swaps, futures, and  options. Derivatives are a form of  alternative investment. Don’t waste time! Our writers will create an original "Uses For Derivatives And Hedging Finance Essay" essay for you Create order For example, a  cotton  farmer and a  miller  could sign a  futures contract  to exchange a definite amount of cash for a certain amount of cotton in the future. Now by doing this both the parties have reduced their risk. The cotton farmer was saved from the price uncertainty and the miller got saved from the unavailability of cotton. However, there are certain situations where still risk is present. There would be no availability of cotton due to vague reasons or the miller couldnt pay the quantified amount. For these reasons a third party is formed which is called as Clearing House. Although it sloves most of the future contract but not all the derivated that are insured against counter-party risk. From another perspective, both the farmer and the miller have obtained certain amount of risk and also have lessened certain amount of risk. From the farmers perspective he has lessen the risk that the price of the cotton may drop down and has simultaneously gained the risk if the cotton prices go high. Thinking from the millers perspective it has gained the risk if the prices fall down because he might have paid extra from the current prices and it has reduced the risk if the prices go up. Concluding from this situation is that both the parties are under certain type of risk. Speculation and arbitrage Derivatives can be used to obtain risk, rather than to insure or hedge against risk. Thus, some individuals and institutions will get into a derivative contract to gamble on the value of the fundamental asset, betting that the party seeking insurance will be wrong about the future value of the fundamental asset. Speculators will want to buy an asset in the future at a low price according to a contract when the future market price is high, or to sell an asset in the future at a high price according to a contract when the future market price is low. Individuals and institutions may also look for  arbitrage   opportunities, as when the current buying price of an asset falls below the price specified in a futures contract to sell the asset. Derivatives Market The Derivatives Market is meant as the market where exchange of derivatives takes place. Derivatives are one type of securities whose price is derived from the underlying assets. And value of these derivatives is determined by the fluctuations in the underlying assets. These underlying assets are most commonly stocks, bonds, currencies, interest rates, commodities and market indices. As Derivatives are merely contracts between two or more parties, anything like weather data or amount of rain can be used as underlying assets. The Derivatives can be classified as Future Contracts, Forward Contracts, Options, Swaps and Credit Derivatives. Types of Derivatives Market OTC Exchange-traded In broad terms, there are two groups of derivative contracts, which are distinguished on the way they are traded in the market : Over-the-counter  (OTC) derivatives  are contracts that are traded (and privately negotiated) directly between two parties, without going through an exchange or other intermediary during the trade. Products such as  swaps,  forward rate agreements, and  exotic options  are almost always traded through OTC. The OTC derivative market is the largest market for derivatives, and is largely free from revelation of information to other parties except the parties trading with each other, since the OTC market is made up of banks and other highly cultured parties, such as  hedge funds. Revealing of OTC amounts is difficult because trades can occur in private where the transaction is not visible on any exchange. According to the  Bank for International Settlements, the total outstanding notional amount is US$684 trillion (as of June 2008). Of this total notional amount . Because OTC derivatives are not traded on an exchange, there is no intermediary counter-party. Therefore, they are subject to  counter-party  risk, like an ordinary  contract, since each party relies on the other to perform. Exchange-traded derivative contracts  (ETD) are those derivatives instruments that are traded via dedicated  derivatives exchanges  or other exchanges. A derivatives exchange is a market where individuals trade pre-defined contracts that have been standardized by the exchange. In the Exchange Traded Derivatives Market or Future Market, exchange acts as the main party and by trading of derivatives actually risk is traded between two parties. One party who purchases future contract is said to go long and the person who sells the future contract is said to go short. The holder of the long position owns the future contract and earns profit from it if the price of the underlying asset goes up in the future. On the contrar y, holder of the short position is in a profitable position if the price of the underlying asset goes down, as he has already sold the future contract. A derivatives exchange acts as a middle person to all related transactions, and takes  Initial margin  from both the parties to act as a guarantee. Common derivative contract types There are three major classes of derivatives: Forwards Futures Options Swaps Illustration Consider 2 parties (X and Y) settle into a contract on 1st June, 2010 where, X agrees to give 10000 stocks of Hindalco to Y, at a price of Rs. 10 per share, on 29th June, 2010 (expiry date). In this contract, X, who has committed to sell 10000 shares of Hindalco at Rs. 10 per share on 29th June, 2010 has a short position and Y, who has committed to buy 10000 shares at Rs. 10 per share is said to have a long position. In scenario of physical settlement, on 29th June, 2010 (expiry date), X has to actually give delivery of 10000 Hind alco shares to Y and Y has to pay the price (10000 * Rs. 10 = Rs. 1, 00, 000) to X. In case X does not have 10000 shares to deliver on 29th June, 2010, he/she has to acquire it from the market and then deliver the stocks to Y. On the expiry date the profit/loss for each party depends on the settlement price, that is, the end closing price in the market on 29th June, 2010. Depending on the closing price, three different scenarios of profit/loss can be concluded for each party. They are as follows: Scenario I. Closing price on 29 June, 2010 is greater than the Forward price. We assume that the closing price of Hindalco on 29th June, 2010 is Rs. 10.5 Since the short investor has sold Hindalco at Rs. 10 in the Forward market on 1 June, 2010, he can get 10000 Hindalco shares at Rs. 10.5 from the market and then can be delivered them to the long investor. Therefore the person with a short position makes a loss of (10 10.5) X 10000 = Rs. 5000. If the long investor tends to sel l the shares in the market immediately after getting them, he would make a profit of (10.5 10) X 10000 = Rs. 5000. Scenario II. Closing price on 29th June, 2010 is the same as the Forward price. The short seller will get the stock from the market at Rs. 10 and give it to the long investor. As the settlement price is same as the Forward price, no contractor will gain or lose anything. Scenario III. Closing Spot price on 29th June is less than the forward price. Assume that the closing price of Hindalco on 29th June, 2010 is Rs. 9.5 The contractor who has short the shares, who has sold Hindalco at Rs. 10 in the Forward market on 1st June, 2010, will buy the share from the market at Rs. 9.5 and give it to the long investor. Therefore the contractor with a short position would make a profit of (10 9.5) X 10000 = Rs. 5000 and the contractor with a long position in the contract will lose an amount of Rs. 5000, if he sells the shares in the market immediately after getting them. The major shortcoming of physical settlement is that it results in massive transaction costs in terms of actual purchase of securities by the contractor holding a short position (in this case X) and transfer of the security to the contractor in the long position (in this case Y). Further, if the contractor in the long position is actually not interested in holding the security, then he/she will have to incur further transaction cost in disposing off the security. A different way of settlement, which helps in reducing this cost, is through cash settlement. Cash Settlement Cash settlement doesnt include actual delivery of the security. Each contractor either pays (receives) cash equal to the net loss (profit) emerging out of their respective position in the contract. So, in case of Scenario I, where the price at the expiry date (ST) was greater than the forward price (FT), the contractor with the short position will have to compensate an amount equal to the net loss to the c ontractor at the long position. In the illustration above, X will simply pay Rs. 5000 to Y on the expiry date. The reverse case is in the Scenario (III), when expiry date is less than forward price. The long contractor will be at a loss and have to pay an amount equal to the net loss to the short contractor. In the illustration above, Y will have to pay Rs. 5000 to X on the expiry date. In case of Scenario (II) where expiry date equals forward price, neither X nor Y will pay anything to anyone. In case of the physical settlement and cash settlement, the overall loss and profit position is same except for the transaction cost which is involved in physical settlement. Default risk in forward contracts A major drawback of forward contracts is that they are subject to default risk. Irrespective of whether the contract is for physical or cash settlement, there is always a possibility for one party to dishonor the contract. It could either be the seller or the seller. This ultima tely results in the other contractor suffering a loss. The risk of making losses to any of the contractor due to the other contractor dishonoring the contract is called as counter party risk. The major cause behind such risk is the lack of any negotiator between the parties, who could have taken the job of striking a contract properly between the two contractors. Default risk is also known to as counter party risk or credit risk. Forwards Futures Privately negotiated contracts Traded on an exchange Not standardized Standardized contracts Settlement dates can be set by the parties Fixed settlement dates as declared by the exchange High counter party risk Almost no counter party risk Illustration Suppose X has bought a call option of 1000 shares of Tata Steel at a price of Rs 200 per share at a premium of Rs 10. This option gives X, the buyer, the right to buy 1000 shares of Tata Steel from the seller of the option, on or before June 27th, 2010 (exp iry date of the option). The seller has the obligation to sell 1000 shares of Tata Steel at Rs 200 per share on or before June 27th, 2010 (i.e. whenever asked by the buyer). Suppose instead of buying a call, X has sold a put option on 1000 HUL shares at a price of Rs 1000 at a premium of Rs 10. This option is an obligation to X to buy 1000 shares of HUL at a price of Rs 1000 per share on or before June 27th (expiry date of the option) i.e., as and when asked by the buyer of the put option. It depends on the option buyer as to when he exercises the option. As stated earlier, the buyer does not have the obligation to exercise the option. Table 2.2: Differences between futures and options Futures Options Both the buyer and the seller are under an obligation to fulfill the contract The buyer of the option has the right and not an obligation whereas the seller is under obligation to fulfill the contract if and when the buyer exercises his right. The buyer and the seller are subject to unlimited risk of loss The seller is subjected to unlimited risk of losing whereas the buyer has limited potential to lose (which is the option premium). The buyer and the seller have potential to make unlimited gain or loss The buyer has potential to make unlimited gain while the seller has a potential to make unlimited gain. On the other hand the buyer has a limited loss potential and the seller has an unlimited loss potential. Swaps Swaps are contracts to exchange cash (flows) on or before a stated future date based on the fundamental value of currencies/exchange rates, bonds/interest rates, commodities, stocks or other assets. More complex derivatives can be created by combining the elements of these basic types. For example, the holder of a  swaption  has the right, but not the obligation, to enter into a swap on or before a specified future date. Just like trading of equity-linked contracts or commodity contracts; t he trading of foreign exchange traded derivatives or the future contracts has evolved as very important financial activity all over the world. The derivatives whose fundamental assets are credit, energy or metal, have shown a considerable growth rate over the years around the world. Interest rate is the only factor which influences the global trading of derivatives, the most. Derivative Market and Financial Risk Derivatives play a vital role in risk management of both financial and non-financial institutions. But, in the present world, it has become an intensifying concern that derivative market operations may destabilize the productivity of financial markets. To manage risk and to increase returns, the companies, the financial and non-financial firms are using forward contracts, future contracts, options, swaps and other various combinations of derivatives. It is true that in todays competitive world derivatives market is used an instrument for risk management. But, the major concern over here is the main components of Over the Counter (OTC) derivatives that are interest rates and currency swaps. So, the economy of the country is bound to suffer surely if the derivative market instruments are misused and if a major fault takes place in derivatives market. For example: The bubble that bursts during the phase of Harshad Mehta and Ketan Parikh. They used derivatives instrument to arbitrarily increase the rates of some commodity which helped up to certain extend but in the end the bubble burst and the whole countrys economy tumbled. Examples of Derivatives market The overall derivatives market has five major classes of fundamental asset: Interest rate derivatives  (the largest) Foreign exchange derivatives Credit derivatives Equity derivatives: Commodity derivatives: Property (mortgage) derivative Economic derivatives Freight derivatives Inflation derivatives Weather derivatives Valuation Market and arbitrage-free prices Two common measures of value are: Market price, i.e., the price at which traders are willing to buy or sell the contract; Arbitrage-free price, meaning that less profits can be made by trading in these contracts with very little risk. The contractors look at  rational pricing. Determining the market price For exchange-traded derivatives, market price is usually transparent. They are often broadcast and published in real time by the exchange. It includes all the bids and current market price of the particular contract at any point of time. With OTC or floor-traded contracts there are certain complications. As trading is handled manually, it makes difficult to automatically broadcast prices. As there is no central exchange to collate and disseminate prices, there is more complications with OTC contracts. Determining the arbitrage-free price The arbitrage-free price for a derivatives contract is multifaceted, and there are many diff erent variables to consider. The main topic of financial marketing is Arbitrage-free pricing. The  stochastic process  of the price of the underlying asset is very crucial; so a simplified version of the valuation technique is developed the  binomial options model. OTC represents the biggest task in using models as these contracts are not publicly traded and, therefore, no market price is available to authenticate the theoretical valuation. The results i.e. the final price of the most of the models depend heavily on how we have derived our input variables. It is, therefore, common that OTC derivatives are priced by Independent Agents and that both counterparties taking part in the deal should upfront when signing the contract. Criticism Derivatives are often subject to the following criticisms: Possible large losses The use of derivatives can result in increasing use of  leverage, or borrowing. The problem doesnt occur in borrowing the money but when the individual or organization is unable to repay the debt. Derivatives allow  investors  to earn large profits with a little movement in the prices. However, investors could lose large amounts if the price of the underlying moves in an unfavour condition. Counter-party risk Some derivatives (especially swaps) expose investors to  counter-party risk. For example, suppose a person wanting a fixed interest rate loan for his business, but finding that banks only offer variable rates, swaps payments with another business who wants a variable rate, synthetically creating a fixed rate for the person. However if the second business goes bankrupt, it cant pay its variable rate and so the first business will lose its fixed rate and will be paying a variable rate again. If interest rates have increased, it is possible that the first business may be adversely affected, because it may not be prepared to pay the higher variable rate. Large notional value Derivatives typically have a  large notional value. There is a risk of the investor unable to compensate for the losses that he has incurred. Now as the losses has occurred once then the investor would enter into the market to bid come out of those losses but he enters more in to losses. This could possibly lead to a chain reaction ensuing in an economic crisis which has been pointed out by famed investor  Warren Buffett  in  Berkshire Hathaways 2002 annual report. Buffett called them financial weapons of mass destruction. Benefits The use of derivatives also has its benefits: Derivatives facilitate the buying and selling of risk and many people  has a positive attitude towards derivatives on economic system. Although someone loses money while someone else gains money with a derivative, under normal circumstances. But trading in derivatives should not adversely affect the economic system because it is not  zero sums  inà ‚  utility.

Professionalism in Forensics Computing - Free Essay Example

Sample details Pages: 10 Words: 3046 Downloads: 4 Date added: 2017/06/26 Category Law Essay Type Case study Did you like this example? Professionalism in Forensics Computing For the first time following the case of Jones v Kaney [UKSC 2011, 13] experts are open to being challenged under the tort of negligence for their work. Discuss the case and its implications of risk for forensics or security experts involved in the investigation and presentation of findings within the legal process. à ¢Ã¢â€š ¬Ã…“Expert witnesses lose 400-year-old immunityà ¢Ã¢â€š ¬Ã‚  [1]Lawgazette.co.uk. This title appeared in the Law Society Gazette on March 30th 2011 following a Supreme Court decision in Jones v Kaney ([2011] UKSC 13) abolishing expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ immunity from suit. Don’t waste time! Our writers will create an original "Professionalism in Forensics Computing" essay for you Create order The immunity of expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ have been challenged a number of times, most of which occurred after the case of Hall v Simons ([2000] UKHL 38) [2]where advocatesà ¢Ã¢â€š ¬Ã¢â€ž ¢ immunity has been abolished. It has been questioned whether expert witnesses should be treated the same as the witnesses of facts, and whether the immunity is necessary. The case of Jones v Kaney (2011) considered a dispute over an expert witness service provided by Dr Kaney to the court in personal injury case which also considered Mr. Jones. In that case, the claimant was involved in road accident causing him physical and psychiatric injuries. His solicitor has then instructed Dr Kaney to advise the court about the (psychiatric) health condition of the claimant. In her initial report she stated that the victim suffered from Post-Traumatic Stress Disorder (PTSD). The other side raised an objection on the basis that the expert witness hired on behalf of the insurance company acknowle dged that it may only have been exaggeration by Mr Jones which may or may not have been conscious. After the raised dispute, the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ were instructed to hold a discussion, which took place in November 2005. It was then held in the form of the joint statement signed by the both parties that Kaney agreed that the psychiatric injury that Jones has suffered was not PTSD, but only an adjustment reaction. She has also suggested that he might, in purpose, give the experts incorrect information. When Kaney was asked for reasoning of her indecisiveness she explained that she felt to be under the pressure of agreeing to the document and that it did not exactly represent her view. Whilst being interviewed she upheld that Jones suffered from PTSD however it was no longer relevant after the joint statement was signed. Her actions have weakened Jonesà ¢Ã¢â€š ¬Ã¢â€ž ¢ claim significantly, and subsequently, the personal injury claim was settled outside the court roo m.[3] Jones issued a claim for professional negligence against Kaney in respect of a road traffic case which had to be settled for considerably lesser amount due to Kaneyà ¢Ã¢â€š ¬Ã¢â€ž ¢s change of her expert witness statement. He argued that à ¢Ã¢â€š ¬Ã…“It was alleged (but not proved, because the case proceeded as a strike out application on assumed facts) that she had negligently agreed the terms of a joint statement with the opposing expert without seeing her opponentà ¢Ã¢â€š ¬Ã¢â€ž ¢s report, under pressure to sign and despite the fact that it did not truly reflect her viewà ¢Ã¢â€š ¬Ã‚  https://www.kchgardensquare.co.uk/[4] Although Kanye did try to strike out on the basis that Stanton v Callaghan 1998 case upheld that the expert witness may not be sued for negligence when preparing the joint statement, a certificate under section 12 of the Administration of Justice Act 1969 was granted (in the high court) allowing Jones to go straight through Supreme Court. The appeal was heard in January 2011 by 7 judges, which by majority (5/7) allowed the appeal which at the same time meant overruling the Stanton v Callaghan 1998. It also meant that the immunity from suite for expert witness is abolished by the decision of the Supreme Court. The majority decision considered that it was up to the Kaney to justify why the immunity from the suite should be upheld. It was a concern for the judges whether the joint statement should remain immune from the suit. Lord Phillips expressed his surprise that the immunity from the suite in regards to the expert witnesses have not yet been challenged. He noted that the immunity was first upheld in Cutler v Dixon (1585) before the tort of negligence was hardly developed. Lord Phillip stated that the expertsà ¢Ã¢â€š ¬Ã¢â€ž ¢ witnesses are benefiting the court voluntary and doing so for the payment. He felt that abolishing the immunity from suit would not impact the evidence giving at court, even though it will b e possible to suit them for negligence. He notes that the aspect of giving the evidence at could will be looked upon differently, however it should not discourage expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ from giving their testimony at court. Lord Phillips comment the decision of Hall v Simons (2001) to be incorrect in the respect that it failed to distinguish between the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ and witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ of facts. He states that the expert witness besides of having a duty to serve the court, also have a binding contract agreement with the client. At this occasion he states that the expert witnesses are more like advocates in the respect of having a duty to the court and the client. It is in his opinion that removing the immunity from the advocates has not lead to any decrease of such professionals performing their duty. He then concluded that there was no justification to uphold the immunity for breach of duty and should therefore be abolished. Lord Br own has added that the abolishing the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ will impact the quality of the services provided positively and so that it will limit the experts to give exactly what they were asked for to avoid embarrassment. This was to be due establishing initially by the experts whether their client case is not too high, or inflexible. Lord Collins has also added that it will give the client the right to retrieve appropriate remedy for insufficient services provided by the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢. Lastly Lord Kerr adds that there should be no fear about changing the decision from the original if such need is required. As long as it is held truthfully and there are strong grounds to do so. On the other side, there were 2 judges that were voting to uphold the decision to maintain the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ immunity from being suit. Lord Hope and Lady Hale felt not to be in the position of removing the à ¢Ã¢â€š ¬Ã…“long standingà ¢Ã¢â€š ¬Ã‚  immunity, and they have expressed that it should be up to the consideration of the Law Commission and Parliament and not the Supreme Court at all. Lord Hope expressed that the immunity was in place for the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ to come and give their testimony voluntarily without being in fear of being suit by the employing party. It was his concern that removing the immunity was one way process and without the legislation it will not be possible to overrule the decision. His fears are that the decision will destabilise the protection give to witnesses in general. Lord Hope disagrees with the concept of getting a remedy for what has been done wrong because of the impact it will have on expertsà ¢Ã¢â€š ¬Ã¢â€ž ¢ work. He establishes a potential problem that derives from the decision, namely how to amend the decision to allow the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ be suite under the negligence but not for defamation. He pointed out that the roles of advocates and expert witnesses differ and therefore cannot be compared. Lady Hale was concerned about the consequences of the decision. She pointed than rather than changing their original submission, the expert witnesses will be more likely to confirm the original decision, even if they believed it is wrong, in order to prevent being suit for the negligence. This may have substantially impact the duty to court and the reliability on which the court has to base the decision. She concluded stating that the decision was irresponsible in the context of law, and the decision should not be made by the judges but the legislative body. Historically the immunity for the expert witnesses was first establishedin Curtler v Dixon (1585). Originally immunity from suite was known as an absolute privilege to all the parties that took part in the legal proceeding, and was also recognised (Dawkins v Rokeby (1873)LR 8 QB 255)[5], and was later clarified in the form of immunity from suit(Hargreaves v Bretherton [1 959] 1QB 45)[6]. The justifications, as stated in Darker v Chief Constable of the West Midlands Police [2001] 1 AC 435[7] for immunity of witnesses in general stated: To protect witnesses who have given evidence in good faith from being harassed and vexed by unjustified claims. To encourage honest and well meaning persons to assist justice. To secure that the witness will speak freely and fearlessly.[8] What is more appealing to the expert witnessà ¢Ã¢â€š ¬Ã¢â€ž ¢ immunity is the case of Stanton v Callaghan [1998]EWCA Civ 1176 (which was overruled by Jones v Kaney). The case has upheld that immunity had protected Callaghan who was accused for breach of retainer and negligence. It must be mentioned at this point that Jones have not suit Kaney on the basis that she changed her decision à ¢Ã¢â€š ¬Ã¢â‚¬Å" which is allowed by the Civil Procedure rule Part 35(para 2.5)[9], if there are reasonable grounds to do so. Jones has accused Kaney of being negligent by signing a document because of the outside pressures. Furthermore she has not seen the opposing party expertà ¢Ã¢â€š ¬Ã¢â€ž ¢s report, the joint statement did not set out what were her reflections and still, she has signed it. Once the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ immunity from suit was abolished, the case returned to High Court. There were a number of risks that was carried with the overruling decision some of which were expressed by Lord Hope and Lady Hale. The identified risks was decrease in the truthfulness on the expert witness side because rather than changing their original decision and exposing themselves with a possibility of being suite, it would be rather easier to go with what has been already submitted. There was a possibility in the decrease of the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ willing to take part in the trail from the fear and the pressure that was put upon the expert witnesses. On the same level, there is a problem in regards to the difference between the negligence and defamation. The dfference between the two terms is very thin however these are still two completely different terms. Defamation refers directly to the words spoken, and is more sophisticated word for à ¢Ã¢â€š ¬Ã…“lyingà ¢Ã¢â€š ¬Ã‚ . It is defamation when the person is not telling the truth, the information given was hearsay and the words have harmed or caused a loss to an individual. Whereas the negli gence is neither intentional, nor planned but may have cause some type of injury. It is therefore unclear as to where the border line draws, although only the immunity for being suit for negligence has been abolished. Some of the judges have also mentioned the Civil Procedure Rules that applies to this case. There is a specifically designed part in the CPR that relates directly to the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢, CPR Part 35 and accompanying supplement which is directed to the reports. CPR Part 35 setà ¢Ã¢â€š ¬Ã¢â€ž ¢s out the rules for the advocates and the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ as to the correctness of information, duties in court, requirements for the expert witness report, single joint experts and so on. It is important that the Justice system provides such professional with guidelines which should be followed when serving the court. Some may argue that if an individual will apply the guidelines into the investigation and presentation process, it is s afe to say that the negligence would not apply. However it must be remembered that the negligence is the unconscious act, and therefore there is no guarantee that that the expert will be completely safe. Besides of CPR which outlines the correctness of the report, and the structure that is applied when the expert witness is hired, there is also an ACPO guideline. The ACPO guides the experts whose job is to investigate a case with 4 principles which should have been maintained at all times. à ¢Ã¢â€š ¬Ã…“No data should be changed, the data may only be changed if it is a necessity, an audit of trail must be kept at all times, and person in charge is responsible for the evidenceà ¢Ã¢â€š ¬Ã‚ . Although I is not directly relevant to the negligence claims being allowed, if at least the two guidelines were applied to the investigation and the person himself, it would substantially decrease the chance of being negligent at any stage of the investigation or presentation. Unfortuna tely, in reality these are only the guidelines for the expert witness. The drawback of it is that it does not give the individual guarantee to not be suit. For this reason it may be that the experts will apply what I refer to as à ¢Ã¢â€š ¬Ã…“minimalist approachà ¢Ã¢â€š ¬Ã‚ . What I mean about the minimalist approach is that the investigation for the case will be kept to the bare minimum to decrease any chances of being negligent at any stage of investigation/presentation. This may also impact the amount of information provided by the expert witnesses, because they only perform the tasks they were specifically asked to perform. The drawback may be enormous. Because the experts are only performing to the minimal standards set out by the client, the information provided back will also be minimal. If this would influence the amount of work which may now decrease due to fear of being suit, it may be possible to observe the success rate of the convictions which have employed expert witness. Moreover, on top of what has already been discussed, there are a number of factors that may impact individual experts, and their opinion. In my opinion the most common factor will be the additional stress that lies upon the experts, to pedantically apply to the procedures and rules in order not to leave any chances of being suit. A pressure, which made Dr Kaney sign the joint statement will now be even more affecting the experts and their opinion. Although there are a number of risks associated with the abolition of the immunity from being suite, there are also potential benefits that may serve the court as well as the client. It is now on behalf of the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ to ensure the best quality of service is provided. This includes assessing the data/information more carefully and providing the parties with the more accurate statements and balanced reasoning. On the client side, it provides an assurance policy that if the expert was neglect at any stage of the trail; it gives the possibility to seek the remedy. It is now clear what was the reasoning behind the overruling the decision which was upheld in Stanton v Callaghan ([1998]EWCA Civ 1176) and the impact it had on the forensic and security expert witnesses. The question now is, why was the decision overruled, abolishing the experts immunity from being suit after 400 years. Well, Lord Phillips give us an indication of why it might have been. At the time the immunity was established (1585) the tort of law negligence was not much developed. It was assumed for a number of years that the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ had to be correct about their proceedings and testimonies, only in the late 19th century it started to be questioned. However the immunity was upheld for another 100 years. It was then challenged a lot more frequently as society got more educated and mishaps were discovered. Abolishing the immunity as described during the Jones v Kaney was a à ¢Ã¢â€š ¬Ã… “healthy developmentà ¢Ã¢â€š ¬Ã‚ [10], which was directed to refresh the legal system in this domain. One may argue that the decision was reasonable. It provided the client with the assurance of being able to suit the expert witness for his negligence. A number of cases up until this point have tried and not succeeded in this area, making the expert witnesses untouchable even if there was a clear evidence of his negligent behaviour. On the other hand it may be argued that the decision was not reasonable, and as Lady Hale has pointed out, was not up to the Supreme Court to decide on such important and long lasted legislation. It has opened up a new broad area not only in expert witness field but also in witness of facts. Moreover it has to be distinguished between the negligence and defamation. One of the arguments that cannot be argued is that the decision was in benefit for the public interest. The only concern may be an opening floodgate for negligent claims regarding t he expert witnesses. The final point to be made in this article is the analysis of the risks balancing benefits and whether abolishing the immunity was for better or for the worst? It must be considered that the abolition of the immunity was challenged by 7 judges out of which 5 voted to remove it, and so it was. The rationale behind it was that the world has moved on since 1585 and a number of things have changed. One of the major impacts was the technological advancement that took place over the last 50 years. In regards to the forensics and security experts this causes a lot of issues to follow the most recent technological trends, know all the software and devices that has to be investigated, and it keeps changing on a day-to-day basis. This have made it harder to proceed with established procedures and chances for negligent action is fairly high as compared to, for example the medicine. On the benefit side it must be considered that it has been abolished for the public interest, giving the clients more manoeuvring space when it comes to negligence by the expert that was hired. It must be concluded that the risks are balancing the benefits and there are people that support the idea and those that are opposite. The importance now, is that the immunity has been abolished and every efforts needs to be put in by the expert witnessesà ¢Ã¢â€š ¬Ã¢â€ž ¢ to make sure to comply with the rules, regulations and the guidelines set by the governing body. It must be remembered at all times that the law is designed to benefit the experts giving them a number of tools, which if followed correctly will not cause issues. Word Count: 2994 Page | 1 [1] https://www.lawgazette.co.uk/59804.article [2] Link do sprawy [3] High Court decision, paras. 4à ¢Ã¢â€š ¬Ã¢â‚¬Å"5 [4] https://www.kchgardensquare.co.uk/userfiles/files/KCHGS-JonesvKaney.pdf [5] [6] [7] [8] [9] https://www.justice.gov.uk/courts/procedure-rules/civil/rules/part35/pd_part35#IDAXKD2 [10]

Meaning of Suteki in Japanese

Suteki is a Japanese word that means great; lovely; splendid; or wonderful. Read below for more information on this Japanese word. Pronunciation Click here to listen to the audio file. Meaning great; lovely; splendid; wonderful Japanese Characters ç ´  Ã¦â€¢ µ 㠁™ã  ¦Ã£   Example Translation Sono kamigata suteki da ne.㠁 Ã£  ®Ã© « ªÃ¥Å¾â€¹Ã§ ´  Ã¦â€¢ µÃ£   Ã£  ­Ã£â‚¬â€š or in English: You look great with that hairstyle.

Rhetorical Analysis of the Jungle Essay example - 872 Words

Rhetorical Analysis of Upton Sinclair’s The Jungle The Jungle, being a persuasive novel in nature, is filled with different rhetorical devices or tools used by Sinclair to effectively convey his message. Sinclair’s goal of encouraging change in America’s economic structure is not an easy feat and Sinclair uses a number of different rhetorical devices to aid him. Through his intense tone, use of periodic sentencing, descriptive diction and other tools of rhetoric, Upton Sinclair constructs a moving novel that makes his message, and the reasoning behind it, clear. Sinclair’s use of periodic sentences allows him to cram details and supporting evidence into his sentence before revealing his interpretation of the evidence. Take for†¦show more content†¦By horrifying his audience with the brutal truth, Sinclair secures a proper response and wish for change from his audience. His tone gives fuel to his cause by effectively showing his audience why his cause is worth fighting for. Sinclair’s use of descr iptive, in depth diction serves to promote a reaction out of the reader, by depicting as thorough as possible his evidence and reasoning, similar to the purpose of his intense tone. However, this descriptive diction does more than just provoke a response out his audience as his tone does, it also strengthens the supporting evidence and reasoning behind his message.Show MoreRelatedEssay about Rhetoric Analysis of the Jungle809 Words   |  4 PagesRhetoric Analysis of an excerpt from The Jungle by Upton Sinclair Rhetorical devices are used to strengthen writing and add dimension. When used properly, they add layers of complexity to any prose as well as further evidence for an argument. No one understood this better than Upton Sinclair. Four strong rhetoric devices are periodicity, the Rule of Three, metaphor and rhetorical questions. Sinclair masterfully demonstrates these in a speech featured in his novel, The Jungle. Read MoreIntroduction. In â€Å"The Man With The Muck-Rake,† Theodore1327 Words   |  6 Pagescorruption within industry, urban life, and the government. This would ultimately lead to one of his most memorable speeches in United States history, a speech that announced what it meant to be progressive in a time of immorality and unfairness. Rhetorical Analysis Throughout Roosevelt’s speech, his use of diction is prevalent with each sentence he had formulated. Each connotation is used in a way that amalgamates his main idea into a clear picture of the dishonest man and of a dishonest America, and alsoRead MoreWilliam Damon s The Death Of Honesty1102 Words   |  5 Pages William Damon’s â€Å"The Death of Honesty† presents a solemn analysis of the decline of modern virtue due to a â€Å"dysfunctional tipping point† where honesty is no longer viewed as a moral characteristic worthy of pursuing. Dishonesty is presented as both a virtue and a vice that is shaping our contemporary society. The Hoover Institution of Stanford University published Mr. Damon’s article in 2012 under the Task Force on the Virtues of a Free Society, which would provide a target audience of studentsRead MoreAnalysis of The Wasteland by T.S. Eliot Essay1620 Words   |  7 PagesAnalysis of The Wasteland by T.S. Eliot Q5 Much of what Eliot writes about is harsh and bleak, but he writes about it in a way that is often beautiful. Comment fully on both parts of this assertion. Most first time readers of Eliots work would, probably, agree that his poems read as bleak and depressing. They would also say that many of his poems portray society as having a terminal illness, but when we look deeper you can see that amid the anguish not all is lost and there is hopeRead MoreEssay On Phantom Comics1882 Words   |  8 Pagesand legends as that of King Arthur and Eil cid (Walker n.p). Drawing inspiration from such imaginary characters Falk first thought to portray Phantom as a wealthy lover boy fighting against all sorts of evil but we see that Falk moved Phantom to the jungle in his first story, â€Å"The Singh Brotherhood†3. Lee Falk was hardly nineteen years old when he started writing these comics. When he worked as a cabin boy he told others the incident of how he came up with a story in order to please his agent’s publicityRead MoreKevin Hernandez Midyr Ushist3156 Words   |  13 Pages2014-15 STUDENT VERSION PAGE 1 Return to ​ TABLE OF CONTENTS 11th Grade Mid-Year History Writing Task TABLE OF CONTENTS INTRODUCTION BUILDING HISTORICAL CONTEXT READING THE SOURCE DOCUMENTS DOCUMENT #1: New York City Tenements DOCUMENT #2: The Jungle DOCUMENT #3: Muller v. Oregon, Supreme Court Decision DOCUMENT #4: Anti-Lynching Writing DOCUMENT #5: Women’s Suffrage Poster DOCUMENT #6: Map of Conservation Lands DOCUMENT #7: Child Labor and Education Statistics DOCUMENT #8: United States Anti-TrustRead Moreen1320 graded assignments 11131313296 Words   |  54 PagesAssignment 2: Reflection on Essay Writing 14 Unit 3 Exercise 1: Analyzing Paragraphs 15 Unit 3 Exercise 2: Guided Reading 16 Unit 4 Lab 1: Revised and Polished Essay—Memoir or Profile 21 Unit 4 Project Part 1: Team Roles and Selection of Materials for Analysis 22 Unit 4 Assignment 1: Rà ©sumà © 24 Unit 4 Assignment 2: Cover Letter 25 Unit 4 Exercise 1: Guided Reading 26 Unit 5 Assignment 1: Genre Essay—Proposal Draft 33 Unit 5 Assignment 2: Peer Review Feedback Form 34 Unit 5 Exercise 1: Guided Reading 35Read MoreBiblical Allusions in Lord of the Flies2536 Words   |  11 Pagesbecause of their plane crash. But this fall from the sky symbolically represents their fall from the state of innocence. The end of innocence in the novel takes place just after the first chapter. Startlingly quickly, the boys feel comfortable in the jungle hunting down wild pigs. After Jack fails to kill the piglet at first, he states that â€Å"next time there would be no mercy.† This almost immediate regression to violence and revenge proves that humans transfer their inner evil into outward behavior.Read MorePoems: City Planners15330 Words   |  62 Pages amnesia, hypnosis’, which suggests control, numbness. Like Atwood’s poem, the second half of Cheng’s poem shifts into violent imagery: ‘hurt’ ‘bleed’ and ‘stain’ - to show that this ‘gleaming’ vision, when imposed by force, hurts. STRUCTURAL Analysis THEME - IMAGERY - LANGUAGE TECHNIQUES Atwood uses an irregular structure, which gives the effect that ideas, and flow, are forcibly cut short, as where she breaks the sentence ‘what offends us is / the sanities’. Cleanliness here seems almost antisepticRead More Cultural Activism and Culture Jamming Essay5153 Words   |  21 Pageslarge-scale impromptu street-parties which call attention to the need to reclaim social space. Klein makes the connection to culture activism this way: like adbusters, RTSers have transposed the language and tactics of radical ecology into the urban jungle, demanding uncommercialized space†¦ Klein describes others groups like the Uksubs a subvertising group, and Activist video networks like the Oxford-based Undercurrents, but places emphasis upon those activities described above. Her discussion uncovers

B.I.C. Ca 100 †Research Project †Charlie Trotter Free Essays

100 Jonathon Roehl September 30, 2010 Charlie Trotter Charlie Trotter specializes in Degustation, which is a careful, appreciative tasting of various foods and focusing on the senses. His inspiration came while he was in college and his roommate, Joel Fish, prepared various courses for his friends to taste. Trotter became interested in what Joel was doing, and soon found himself immersed in the world of cookbooks and preparing meals as a way of entertainment for his friends and roommate. We will write a custom essay sample on B.I.C. Ca 100 – Research Project – Charlie Trotter or any similar topic only for you Order Now Mid way through his college tenure at The University of Wisconsin in Madison, WI, he decided to take a year off and read every book he could, this included cookbooks. As a way to make a living while on this break from school, he took a job as a waiter. Not long after he returned to college, he earned his Bachelor’s of Science degree in Political Science, then began once again cooking and actually doing small catering parties. Upon graduating from college, Charlie traveled around the U. S. and Europe to dine at only the finest restaurants. He wanted to learn how the â€Å"best† gained that title, and see what the future could possibly hold for him. Charlie actually never went to culinary school, he completely taught himself. Soon he returned to the States and began doing catering parties for his friends and families. His first cooking job was at a restaurant in the North Shore area of Chicago called Sinclair’s where he was a cook there and worked under many now well-known chefs including Norman Van Aken. After doing this for just over a year, he decided to open Charlie Trotter’s with his now deceased father, Robert Trotter, as his partner. Charlie’s cuisine now comes from the finest foodstuffs available. Networks provide the fresh, healthful ingredients which inspire him to create his masterpieces. From the naturally raised meat and line caught seafood to the organic produce, every component of each dish is the most pure available. Bobwhite quail from Indiana, petite greens from Farmer Jones, heirloom tomatoes from Illinois, buffalo from North Dakota and gindai from Hawaii are just a few of the products that arrive each day for him to crafts his menus. Trotter rather ave sauce with vegetable juice-based vinaigrettes, light emulsified stocks, and purees as well as delicate broths, and herb-infused meat and fish essences then sauces that have a lot of butter or cream. According to the Mobil Travel Guide, Charlie’s restaurant was giving 5 stars back in 1996 and remains that way even now. For his wine Charlie was awarded The Best Restaurant in the World for Wine and Food in 1998, The Best Restaurant in the Un ited States back in 2000, America’s Best Wine-Driven Restaurant in 2006 as well as The Grand Award in 1993, which he still holds. From the International food Manufacturers Association he was earned both the Silver and Gold Plate award in 2008. Trotter has been awarded many more other then these. I feel that Trotter is an excellent example of chefs with imagination and how you really do need to use your head and alter and expand anything from simple recipes to your whole cuisine choice considering this man NEVER went to a culinary arts school. How to cite B.I.C. Ca 100 – Research Project – Charlie Trotter, Essays

Effects of Social Media on Life free essay sample

Over Relying on Social Media Have you ever spent more than 2 hours checking your social media? Nowadays, a majority of people, especially teenagers use social media almost all the time. We will write a custom essay sample on Effects of Social Media on Life or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Thus, social media in todays world has become a part of peoples daily lives and people use them to update their lives, find new friends or maintain the relationships with their old friends and family. However, the overbalance on social media is having a negative effect on the way people socialize because it makes people waste their time, it affects relationships between people in the real world, and it causes people to have a robber with their writing skills. First of all, people who over rely on social media waste almost all of their time on their computers or smartness. It is easy to go online and check our social media, especially on smartness, which gives us a very easy function that takes less than 1 minute to go online and they improve it to be easier and more convenient all the time. Because of its ease and convenience, people go online and check their social media very often. Even though it takes less time to go online, it takes more time to explore in the online world. When you start, it is hard to stop because you cannot intro your curiosity. In the article, Confessions of an Instant Messenger, Condor Bollard claims that instant messaging is like a snowball, it will become bigger and bigger, and when you notice, you are not able to stop. This seems to be undemanding, but it makes you have no time to study, work or do other things. For example, I am addicted to social media. I always check my social media on my phone before doing my homework, going to shower and going to sleep and it always makes me go to bed late because I spend more than 2 hours on it. It seems like it is not hard to stop this bait, but when it really happens, you are unconscious of it. Second, over using social media affects the relationships between people in the real world. When people feel that they know a lot about others from Backbone and Twitter, they do not want to know them anymore. Social media creates the world in which everybody can contact others and show their emotions by writing on their pages all the time. As a result, writing too much about yourself and daily life in your social media will make others learn a lot about you, but they may lose interesting in you. For instance, my friend, Ann, was sick, and she tweeted about her sickness on re Twitter and posted her pictures on Backbone and Instating, and she updated almost every hour. Almost all of her friends on Backbone, Twitter and Instating posted many comments in her pages. However, I did not see that any of her friends wanted to go to see, talk and stay with her. In my opinion, it is sad that she has a lot of friends who wrote comments to her online life, but no one wanted to see her in the real life. Thus, this example showed me that the social media affects the relations between people in the real world. I also have another example, which happened with e about my relationship with my friends after I used social media too much. Two years ago, when I Just graduated from the university, I spent almost all of my time in front of my computer because at that time I had nothing to do except wait for a Job. I wasted my time by looking at my friends Passbooks. I read and commented on all the things that my trends posted on their pages. I tell like I was continually getting closer to them more and more. However, this feeling made me happy with my life in front of the computer. I felt that I did not want to go out to see and hang out with them anymore. This happened to me for a month until my close friend, Cloy, told me that she had not seen me for more than a month and she thought that we should meet. Her words helped me to realize that I should have my real life not only the life in front of the computer. So, I gave that life up and tried to spend more time outside with my friends and family. Third, people have a problem with their writing skills when they depend on social media too much. Using social media lets people post and comment all the time. Therefore, it makes people try to create short words to save their time which make it ore convenient for them to type. In contrast, the short words, which the new generation created, may make their writing skills become worse. In the article, Twitter as Newsweek, Art Silverberry states, Twitter is anti-democratic. It helps create a young generation that not only cannot spell but is also incapable of examining the implications of ideas, challenging information, and thinking independently. So, in addition to social media making teenagers not spell words correctly, which is an important skill for writing, other skills such as thinking by your win, critical thinking and investigative the insinuations of ideas are also essential for writing. Silverberry declares that the young generation is incapable of using these skills well. Furthermore, many people start to write a formal essay or paper, which was assigned by their teacher or professor, by using informal words or the words which they use for chatting with their friends. For example, I saw my friend using r instead of are while writing an email to his professor. That made me feels strange. I dont like the way he wrote even though I know it will happen more increasingly in he future. Some people believe that using social media can help them make more friends. In the article, Im so Totally, Digitally Close to You, Clive Thompson argues that Backbone and Twitter make the users think that they are not lonely, and following some strangers for a couple months lets them no longer feel like strangers. It might be true that social media such as Backbone and Twitter can help people make more friends. However, the people whom we call friends in social media are not truly our friends in the real world. We Just know their names, their pictures and whatever they cost on their pages. On the contrary, we rarely have the time for face to face relations these days. This is a very significant thing because humans always require real relationships in the real world. Like my example above, where I talked about my friend who was sick and none of her social media friends wanted to see her. These are not real friends and real relations. So, it is nothing to have a thousand online friends whom you have never met. Having only 10 friends who are always with you is better. In summary, it is okay to use social media to follow the trend, stay up to date, and understand the people in this and next generations. However, people in this and next generations should not rely on using social media too much to the point that they cannot control it because over relying on social media has negative effects on the way people socialize. Moreover, they should use it to get benefits, try to take advantage of it, and create their own elite in which they can manage a g virtual life and the real life. References 1 . Bollard, Condor. Confessions of an Instant Messenger. Twitter as Newsweek. 3. Thompson, Clive. Im so Totally, Digitally Close to You. balance be 2. Silverberry, Art.

Impact of Water Pollution-Free-Samples-Myassignmenthelp.com

Question: Using the Deepwater Horizon oil spill as an example, describe the impact of water pollution on the environment and discuss a strategy that has been used to control or prevent these impacts. Answer: Introduction: Water covers the 2/3rd of the surface of the Earth. The population of earth is growing over the years as a result; they are creating pressure on the water resources of the Planet. Human activities are spoiling the water resources. The quality of water is being destroyed and as a result, water pollution occurs. Water pollution is one of the major types of environmental pollution. Water is the essential thing for sustainability and is a part of the biosphere (Peukert et al. 2014). Therefore, it is necessary to save the water for the wellbeing of the planet. It helps to provide energy, minerals and balance the life- cycle. The assignment focuses on the causes of water pollution and the incidence of deepwater horizon oil spill. The significance of the incidence of deepwater horizon oil spill is discussed. Water pollution has a strong impact on environment and it needs to be reduced. The impact and the strategies to prevent the water pollution are discussed. Causes of water pollution: Human activity is the main reason of the water pollution. These activities reduced the quality of water. Water pollution occurs due to various reasons and this is a critical issue in present days. The main causes of the water pollution are stated below: Sewage: As the number of people on the earth is increasing with the time, the number of sewage is also increasing and becomes the major problem of the world. The sewage is mixed with the drinking water as it goes to the river, and ocean (Laws 2017). This is harmful for the human health. It causes the diseases like diarrhea. Wastewater: Another major reason of the water pollution is the wastewater. Most of the industries are set up at the bank of the rivers and they throw the wastewater of chemicals in the river. Some of the times, the chemicals are washed off from the drains of the factories and the harmful chemicals mixed in the water (Klein 2013). These chemicals mix in the water and cause the death of the fishes and results respiratory problems in human. Chemical waste: Most of the detergents are made of toxic chemicals like polychlorinated biphenyls. This type of chemicals is mainly used to make the electronic circuit boards. When this type of chemicals mixes in the water and pollutes the water, it harms the aquatic life as well as terrestrial and avian lives. This type of chemical reduces the amount of oxygen, nitrogen, and essential minerals from the water and as a result, the amount of carbon dioxide increases (Kneese 2015). Radioactive waste: Radioactive waste is the great danger for the people. It is the powerful ray and can spread the pollution in the environment. The waste material of the nuclear power plants pollutes the water (Prouty et al. 2016). From the past decades, the number of shell and fishes death rate increases in the present decades due to the water pollution. Oil pollution: Most of the ocean pollution occurs due to the oil spill in the water. Due to the tanker accident, the oil spill occurs and the oil enters into the water of ocean. This mainly kills the aquatic animals and destroys the biodiversity system (Chanton et al. 2014). When the oil mixes with the water, the water becomes contaminated. This may cause food borne illness, cancer, and other problems in human being. Plastics: Plastic is the most dangers component that is harmful for the human being. Plastic does not decay and floats with the wave, when it is thrown to the water. It contains poisonous chemicals that cause water pollution. Incidence of Deepwater Horizon Oil Spill: The deepwater horizon oil spill is the disaster that occurred in the Gulf of Mexico in April 2010. Due to this disaster, eleven people died. King et al. (2015) mentioned it as the biggest marine oil spill in petroleum industrial history. The US government has estimated total discharge at the 4.9 million barrel oil after the occurrence of the accidents. In September 2010, the well became sealed. However, in 2012, the seal became leaked and the threat of the accidents rose. After the accident, the protection in the beaches and wetlands were increased. It took long time to remove the spill from the water of Gulf of Mexico. It killed various aquatic animals and the ecosystem of the water became hampered. Huge damage occurred in the water life. From a report of 2013, it is found that, most of dolphins and other aquatic animals continued to die that is much higher than the normal rate of death (Lamendella et al. 2014). As per a report of 2014, after come in contact with oil spill, the defo rmation of heart and nervous system is seen in the tuna and amberjack. These types of deformities reduce the life span. The amount of the carbon dioxide has increased in the water of the Gulf of Mexico. Significance of Deepwater Horizon Oil Spill: The explosion of the deep- water horizon oil spill is significant in the history of the water pollution. In causes severe damages among the aquatic life as well as the terrestrial life. Due to this, 11 workers were killed and this the largest oil spill at marine. Huge damage occurred in the water life. From a report of 2013, it is found that, most of dolphins and other aquatic animals continued to die that is much higher than the normal rate of death (Michel et al. 2013). The spill changed the water composition and damaged the water for using. It took a long time to clear the spill and preserver the eco system again. The crisis spoilt the conservation system of the coast that was running from 25 years. Different scientists of different countries checked the water after the incident occurs. The pH balance of the water of Gulf of Mexico became misbalanced as different types of chemicals were mixed in the water like methane, PHAs, and carbon dioxide. It damaged the natural resources. Sc ientists revealed that the disease among the aquatic animals is the result of the oil spill. The infants of the aquatic animals became abnormal after came in contact with the oil spill. The habitants of the water were damaged and damaged the lifestyle of the habitants. The dolphins were injured much. This incident not only damaged the surface level of water but also damaged the deep water. The oil spills contained 40% of methane that was high than the normal oil. Methane can create a suffocating environment and makes a dead zones. For this reason, the BP had to come in a settlement and they had to provide a compensation of $8.8 billion. This money was spent for the restoration of and recreational purpose. However, Yuan et al. (2014) mentioned that it is not easy to restore the natural resources again. The impact of this incident of deepwater horizon oil spill on the environment is very significant and for longtime. Impact of Deepwater Horizon Oil Spill on environment: The area, where the spill occurred, hosts approximately 8,332 species. This includes near about 1270 fishes, 1456 mollusks, 218 birds, 1503 crustaceans, 604 polychaetes, 29 marine mammals, and 4 sea turtles. Before the spill, the water contains 40 times less polycyclic aromatic hydrocarbons. The PAHs contains the carcinogenic compounds that are harmful for the aquatic and terrestrial living beings (Incardona et al. 2014). The oil spills contained 40% of methane that was high than the normal oil. Methane can create a suffocating environment and makes a dead zones. Due to the depletion of oxygen, the death rate of aquatic animals increases. The toxins of the oil spill can causes of the irregular heartbeat in the aquatic animals. Gulf of Mexico is one of the productive ocean and had the best ecosystem in the world. After the incident, the number of the predator fishes decreased and the effect of this is found in human being also. The oil spill polluted not only the surface water of the Gulf of Mexico but also the deep water in unpredictable amount. It damaged the natural resources (Gray et al. 2014). The habitants of the water were damaged and damaged the lifestyle of the habitants. Moreover, the oil spill increased the temperature and the water level of the ocean. It destroyed the eggs of the aquatic animals. Some of the fishes were found with oozing sores and lesions. The ecosystem of the Gulf of Mexico became endangered. It damaged the ocean floor and the number of unusual death increased. The most important thing is that most of the death bodies of the aquatic bodies were not found and they decade in the underwater of Gulf of Mexico (Brame et al. 2013). This increases the pollution rate also. The birth rates of the aquatic life decreased. The dead bodies of dolphins washed up on the ocean at the coastal area of Mississippi and Alabama. From that time, only 17% of the dolphins are surviving and many deformities are seen in the aquatic animals after the incident occurred (Gutierrez et al. 2013). Scientists revealed that the disease among the aquatic animals is the result of the oil spill. The infants of the aquatic animals became abnormal after came in contact with the oil spill. Prevention of water pollution: The water pollution needs to be prevented. People should be aware. They should pour hot water or waste material in the water of river or ocean. The cooking products like fat, grease, and oil should not be thrown in the water. The most dangerous thing is the plastic that contains the harmful chemicals. These chemicals are harmful for the respiratory system and decrease the rate of the rate of the reproduction (Garcia-Pineda et al. 013). Hence, people should not throw the plastic in the water. Moreover, the people of industrial belt need to be careful and should not throw the wastewater and chemicals into water. The waste materials of human and other living beings also should not be exposed to the drinking water. The government needs to pass strict rules and regulation for the sustainability of the water. In future, the people may suffer from the water crisis. Therefore, it is necessary to save the drinking water. The human activity needs modification and they should obey the rules and regulation of the government to avoid the spoilage of water. The disposal of the decaying things is harmful for the water and it should be banned. The government needs to check the pH of the oceans and rivers in every two years. The use of pesticides and chemicals in the fields also should be avoided. The government needs to take appropriate steps to avoid the spoilage of water and should take the steps to preserve the water (Kleinnijenhuis et al. 2015). The clearance of the sewage needs proper maintenance so that it cannot mix in the rivers. To save the eco system of the water, the government of U.S. took some steps that the citizens need to follow and should not break the rules, which is punishable offence. Conclusion: Based on the above discussion, it can be said that human activities are spoiling the water resources. Water is the essential thing for sustainability and is a part of the biosphere. Therefore, it is necessary to save the water for the wellbeing of the planet. Human activity is the main reason of the water pollution. . It took long time to remove the spill from the water of Gulf of Mexico. It killed various aquatic animals and the ecosystem of the water became hampered. Most of dolphins and other aquatic animals continued to die that is much higher than the normal rate of death. The impact of this incident of deepwater horizon oil spill on the environment is very significant and for longtime. After the incident, the number of the predator fishes decreased and the effect of this is found in human being. The birth rates of the aquatic life decreased. The dead bodies of dolphins washed up on the ocean at the coastal area of Mississippi and Alabama. References Brame, J.A., Hong, S.W., Lee, J., Lee, S.H. and Alvarez, P.J., 2013. Photocatalytic pre-treatment with food-grade TiO 2 increases the bioavailability and bioremediation potential of weathered oil from the Deepwater Horizon oil spill in the Gulf of Mexico.Chemosphere,90(8), pp.2315-2319. Chanton, J., Zhao, T., Rosenheim, B.E., Joye, S., Bosman, S., Brunner, C., Yeager, K.M., Diercks, A.R. and Hollander, D., 2014. Using natural abundance radiocarbon to trace the flux of petrocarbon to the seafloor following the Deepwater Horizon oil spill.Environmental science technology,49(2), pp.847-854. Garcia-Pineda, O., MacDonald, I., Hu, C., Svejkovsky, J., Hess, M., Dukhovskoy, D. and Morey, S.L., 2013. Detection of floating oil anomalies from the Deepwater Horizon oil spill with synthetic aperture radar.Oceanography,26(2), pp.124-137. Gray, J.L., Kanagy, L.K., Furlong, E.T., Kanagy, C.J., McCoy, J.W., Mason, A. and Lauenstein, G., 2014. Presence of the Corexit component dioctyl sodium sulfosuccinate in Gulf of Mexico waters after the 2010 Deepwater Horizon oil spill.Chemosphere,95, pp.124-130. Gutierrez, T., Singleton, D.R., Berry, D., Yang, T., Aitken, M.D. and Teske, A., 2013. Hydrocarbon-degrading bacteria enriched by the Deepwater Horizon oil spill identified by cultivation and DNA-SIP.The ISME journal,7(11), p.2091. Incardona, J.P., Gardner, L.D., Linbo, T.L., Brown, T.L., Esbaugh, A.J., Mager, E.M., Stieglitz, J.D., French, B.L., Labenia, J.S., Laetz, C.A. and Tagal, M., 2014. Deepwater Horizon crude oil impacts the developing hearts of large predatory pelagic fish.Proceedings of the National Academy of Sciences,111(15), pp.E1510-E1518. King, G.M., Kostka, J.E., Hazen, T.C. and Sobecky, P.A., 2015. Microbial responses to the Deepwater Horizon oil spill: from coastal wetlands to the deep sea.Annual review of marine science,7, pp.377-401. Klein, L., 2013.Causes and Effects: River Pollution. Elsevier. Kleinnijenhuis, J., Schultz, F., Utz, S. and Oegema, D., 2015. 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