Free Essays on Procrastination

Procrastination is more than just a negative custom that needs to be weeded out of society; it is also a clichà ©Ã¢â‚¬Å¡ a small-talk joke, boast, or complaint. After all, we all do it. Most everybody I know is willing to admit it is an exasperating problem in their life, and would benefit from a course in How to Eliminate Procrastination, but say they have to much to catch-up on, and will take it later. There are many underlying issues and causes of procrastination. Lack of relevance and interest is two of the most common causes. While perfectionism having extremely high standards, which are almost unreachable is another problem all together. Evaluation, anxiety, ambiguity, fear of failure and self-doubt, fear of success, inability to handle the task, lack of information needed to complete the task, environmental conditions, physical conditions, moreover, and anxiety over expectations that others have of you, are all very serious causes of procrastination. Poor time management is a great cause of procrastination. Procrastination means not managing time wisely. One may be uncertain of one's priorities, goals, and objectives. Procrastinators may also be overwhelmed with the task. As a result, they keep putting off the assignments for a later date, or spending a great deal of time with your friends or worrying about upcoming examination, class project and additional papers rather than completing them.... Free Essays on Procrastination Free Essays on Procrastination Have you ever put something off to the last minute†¦such as a project or a paper? I’m sure at some point in your life you have. You may procrastinate more than you realize. Procrastination is one of the main reasons that so many companies lose money and you don’t want to be the one losing money for your company. However there are solutions to procrastination and it can be overcome. Today we are going to talk about identifying underlying issues that cause procrastination, developing solutions, and overcoming procrastination. IDENTIFY UNDERLYING ISSUES Discover your pattern of procrastinating and make a note of it. One reason you procrastinate is because of fear. Sometimes you may fear the task or project at hand because you have to move out of your comfort zone. Becoming aware of your fear can enable you to eliminate it. Perfectionism is one of the more common reasons for procrastinating. Perfectionists avoid starting because they fear they will fall short of their highest standard. If they avoid starting they never have to worry about imperfections in the end if the task isn’t done. Crisis Making- one who thrives on adrenaline. Cannot get motivated until the very last moment. Infuriates friends and colleagues and makes you look bad in the process. Expectation anxiety. Stop becoming a better person for other people and realize that the person you are is just fine. Your faults can be wonderful teachers and weaknesses are just hidden strengths. Accept yourself and always do your best. Overextenders often have the har dest time recognizing themselves because everything is important. Set goals for what is to be done and when, break goals into smaller sub-goals. DEVELOPING SOLUTIONS. Face procrastination head on. Ask yourself what is blocking you? Write it down/ record it. This exercise should help you begin. Choose to easily begin. Making this choice is often enough to get you going. In National Public Acco... Free Essays on Procrastination I’m what most people might call lazy, lethargic, and a procrastinator. How did it start? The first specific instance that I can remember was in 5th grade math class. I didn’t do my math. My mentality was that school consumed more then half of my waking hours and I wasn’t going to let it take anymore then that. So my assignments were partially completed, from the day before, and handed in unfinished. I knew that my parents and teachers would raise hell itself when I did this but my mind wouldn’t waiver on this. Since I had been able to get through all of grade school without homework why should I have any now? Great reasoning for a 5th grader, but this thinking contained a few flaws. To start out, there are 3 types of people in the world. The first kind will generally always try their best and be a competitor in life. They treat life as a marathon that needs a steady vigil pace to complete. The second is the person the will try to complete the absolute bear minimum to survive and occasionally misjudges what is needed done. The third and final is the person that absolutely cannot find any reason to try at all and hope for the best to come to them but never actively seek it. This is the lowest form of life that will suckle away your money, forgiveness, and love never sharing it back with you. To thoroughly understand the three classes of people, a more detailed analysis is needed. The first kind is the ideal person. One, which all parents and communities hope to produce. They are considered the leaders, overachievers, and well standing citizens. The second class is the C student of life. They’re the average person who occasionally does exceptional work but for the most part will be in the shadows of the first class. Procrastination and laziness is most common to occur in this class and becomes extreme when we reach the third class. The 3rd class no longer tries or cares too much about their life to do anything about their... Free Essays on Procrastination Procrastination is more than just a negative custom that needs to be weeded out of society; it is also a clichà ©Ã¢â‚¬Å¡ a small-talk joke, boast, or complaint. After all, we all do it. Most everybody I know is willing to admit it is an exasperating problem in their life, and would benefit from a course in How to Eliminate Procrastination, but say they have to much to catch-up on, and will take it later. There are many underlying issues and causes of procrastination. Lack of relevance and interest is two of the most common causes. While perfectionism having extremely high standards, which are almost unreachable is another problem all together. Evaluation, anxiety, ambiguity, fear of failure and self-doubt, fear of success, inability to handle the task, lack of information needed to complete the task, environmental conditions, physical conditions, moreover, and anxiety over expectations that others have of you, are all very serious causes of procrastination. Poor time management is a great cause of procrastination. Procrastination means not managing time wisely. One may be uncertain of one's priorities, goals, and objectives. Procrastinators may also be overwhelmed with the task. As a result, they keep putting off the assignments for a later date, or spending a great deal of time with your friends or worrying about upcoming examination, class project and additional papers rather than completing them....

The Two Types of Titans in Greek Mythology

The Two Types of Titans in Greek Mythology Often counted among the gods and goddesses, there are two main groups of titans in Greek mythology. They come from different generations. The second generation is probably the one youre familiar with. They are depicted as humanoid, even if giant. The earlier ones are even bigger - as large as is visible to the naked eye - so its no wonder titanic signifies exceptional size. This page introduces both, provides mates, and spheres of influence. First Generation Titans of Greek Mythology The titans in the first generation are the aunts, uncles, and parents of Zeus and company - the well-known Olympian gods and goddesses). These titans are the 12 children of the primordial personifications of the earth (Gaia) and the sky (Uranus). (Now do you see why I said the titans were really big?) Female titans may sometimes be distinguished from their brothers as titanides. This isnt perfect, though, since there is a Greek ending on this term that should be reserved for the children of the titans rather than female version of the same. Here are the names and areas of first generation titans: Oceanus [Okeanos] - the ocean(father of nymphs)Coeus [Koios and Polos] - questioning(father of Leto Asteria)Crius [Krios, probably Megamedes the great lord [source: Theoi]](father of Pallas, Astraeus, and Perses)Hyperion - light(father of sun-god, moon, dawn)Iapetus [Iapetos](father of Prometheus, Atlas, and Epimetheus)Cronus [Kronos] (aka Saturn)Thea [Theia] - sight(Hyperions mate)Rhea [Rheia](Cronus and Rhea were the parents of the Olympian gods and goddesses)Themis - justice and order(Zeus second consort, mother of the Hours, Fates)Mnemosyne - memory(mated with Zeus to produce the Muses)Phoebe - oracle, intellect [source: Theoi(Coeus mate)Tethys(Oceans mate) The titans Cronus (#6 above) and Rhea (#8) are the parents of Zeus and the other Olympian gods and goddesses.​ Besides the Olympian gods and goddesses, the titans produced other offspring, mating with either other titans or other creatures. These offspring are also called titans, but theyre the titans of the second generation. Second Generation Titans of Greek Mythology Some of the children of the first generation titans are also referred to as titans. The major second generation titans are: AsteriaAstraea (Dike)AstraeusAtlasEos (Dawn)Eosphorus (or Hesperus)Epimetheus (see Pandoras Box)HeliusLetoMenoetiusPallasPersesPrometheusSelene As for most aspects of mythology, Carlos Parada has an excellent page on the titans. Also Known As: Ouranià ´nes, Ouranidai Examples Dione, Phorcys, Anytus, and Demeter are sometimes added to the list of 12 titans: Oceanus, Coeus, Crius, Hyperion, Iapetus, Cronus, Thea, Rhea, Themis, Mnemosyne, Phoebe, and Tethys. Youll find titans in the following stories: The castration of Ouranos,The creation of man,The fight with the gods, known as the Titanomachy, but often mixed up with the story of the gods battle with the giants, andThe imprisonment of the titans in Tartarus.

Case Vignettes Essay Example | Topics and Well Written Essays - 1000 words

Case Vignettes - Essay Example He refers to these states as sort of frenzied; when he finally gets out of the rut he’s been in and gets back on track. He says that they will occur for days at a time and are always followed by a crash, in which he becomes suicidal and bed-ridden. Jessica is 28 and she is a new mother. While her pregnancy was a life-altering experience and challenge, the steadfast support of her husband and family made sure she was able to handle the experience without losing her sanity. Jessica reports welcoming the responsibility of mother-hood, but since giving birth 3 months earlier has started to feel increasingly hopeless and guilty about her situation. When asked to describe the guilt she was experiencing she was not able to identify a specific example of something she was guilty, instead indicating that it was more of an abstract pervading sensation. While her husband attributes her feelings to the stress of adapting to motherhood, she has begun to fear that the depression will last forever and it’s actually a change in perspective. Ashley has is 6 years old. She began the first grade a number of months back and from the beginning has had difficulty relating to other students. At times she will remove herself from the other students in the class and refuse to interact. Other times she will lash out physically and verbally at the other students. Her progress throughout the year has shown a steady decrease. The teacher, Mr. Wilson, sent a letter home with Ashley asking to speak with her parents in a conference. After receiving no response, he phoned Ashley’s parents and relayed to them Ashley behavior. Ashley’s mother informed Mr. Wilson that their family is going to have to move into a homeless shelter soon. He also discovered that Ashley’s mother is not able to read. Paul is a 9 year old third grade student. He has shown a talent for sports, and last semester won the school’s track meet for his age bracket. He is very popular at recess, but has

Senior Project - Team Video Analysis Report Essay - 1

Senior Project - Team Video Analysis Report - Essay Example Without clear goals or a financial projection, the ideas are being tossed at the team who is left feeling vulnerable and without direction. 6. Team members do not know how to organize and create strategy. It is clear that the basic tools of strategic management are outside of the knowledge of most of the team. This means that a part of the team is not working up to their potential, decreasing the efficiency with which goals are met. The head of the company is unaware of the steps that were taken to create the success that she has achieved. The problem with this lack of understanding is that she is unable to create a future without having a clear picture of the past. Understanding the importance of the past is the first step in creating a strategic methodology for continuing into the future. Charting how the company was built, all the milestones and the ways in which they were achieved would allow for Elizabeth to create a clearer picture of how her company evolved. Recognizing how she was prepared for opportunities and how she utilized those opportunities would give her a better grasp of her current success. In addition, she needs to look for lost opportunities and how she can be better prepared from them in the future. Once this understanding has been developed, she can move forward to create the business plan that she needs to continue her success. In order to address the problem of a business plan, Elizabeth needs to establish what her company stands for in regard to its mission and goals. This development of a business plan will provide a framework for expansion as new markets are examined for potential benefit. Through a clear statement of who the business and how it operates, she can better establish a strategic plan towards the future. The business plan needs to be built upon the establishment of a mission statement. A mission statement will help to define the business so that it can stay

Technology in Fashion Product Development and Manufacturing

Technology in Fashion Product Development and Manufacturing INTRODUCTION According to Tyler, (2008, p.1) Clothing manufacture is an activity dominated by the need for human skills, with a great range of raw materials, product types, production technologies, production volumes, retail markets and brands. These days, consumers are being influenced by fashion trends, thereby having the enticement of the ongoing newness and needs to buy and keep up with the latest appearance have become the order of the day. People believe their look is what matters most and so are very much keen in updating it with fashion. The term fashion describes the current prevailing trends in the society for example, concerning a particular way of dressing, lifestyle, pattern of thought and the development of the arts (Eberle et al, 2004, p.217) The move towards so-called ‘Fast-fashion within many retailers means that the designers have a much shorter development period so that the store can respond to new trends within a matter of weeks (Goworek, 2006, p.31). Fast fashion in my own understanding simply means the ability to respond immediately to current fashion trends. Hence, because of the increasing demand of products by customers, new technologies are constantly being introduced to fashion industries to improve and quicken production. The aim of this study is to discuss the technologies  involved in the development and assembly of new product and find out how it has contributed to fast fashion. Technology is the process of applying technical devices and knowledge to suit a particular work or purpose, therefore, fashion technology is the process by which these technical devices and knowledge are applied to the construction and manufacturing of fashion products. However, working in the fashion industry requires an adapt knowledge and understanding of technologies involved in the development and assembly of new products. LITERATURE REVIEW The aim of this literature review is to establish that relevant work has already been completed in the field. In particular I am keen to demonstrate in this section that this term paper is based upon a thorough understanding of the field, and to establish evidence that I have researched into the subject. Fast fashion is a term that refers to affordable basics and disposable trends. It has also been used as a term to describe clothing collections which are based on the most recent fashion trends. (Apparel search, 2009) ‘‘Fashion products have a limited life cycle, more so than other products. (Gowerek, 2004, p. 142) According to Tyler, (2008), Fashion requires a quick response, that is to say that fashion apparel has a short product life and differentiation advantages can be built on the images and styles of brands which can be quickly imitated. Fashion producers have continually worked hard to provide new products to capture the imagination of the consumers with these innovative styles and images and so technological advancement has brought about the introduction of ready-to-wear/mass production apparel. Integration of quick response has given the fashion producers a lot of advantage as they have developed new capabilities known as quick response strategies to supplant timing and know-how which helps them in the assembly and development of only clothes that sells. DISCUSSION GARMENT ASSEMBLY The steps involved in garment assembly are called operations. (Frings, 2008, p. 260) the three methods of operations are; the progressive-bundle system, the tailor or whole garment system, and the modular manufacturing system. Automated systems are now being used in fashion factories to speed up production and cut lead time. There several computer technologies being used in the process of garment assembly; computer-aided manufacturing(CAM), unit production system(UPS), computer-integrated manufacturing(CIM) , computer simulation, and flexible manufacturing. PRODUCT DEVELOPMENT Product development is a process of creating new style within a given companys image or identity. (Frings, 2008) The two technologies involved in the development and assembly process of new product are; Seam technology and Machinery technology. SEAM TECHNOLOGY The seam technologies are; seam type, stitch type, needle, thread and feed mechanism. SEAM TYPE A seam is a joint where a sequence of stitches unites two or more pieces of material. (cooklin, 2006, p. 110) Seams have several properties; strength, extensibility, elasticity, security, durability and good appearance all of which will be considered during product development. According to Tyler, (2008), the British standard has classified seam into eight classes according to the minimum number of parts that make up the seam. These classes are; Class 1- superimposed seam that consists of Plain, French and Piped seams, Class 2- lapped seam which consist of basic lapped, lap-felled and welted seam, Class 3- bound seam, Class 4- flat seam- consisting of butt and flatlock seams, Class 5- decorative stitching, Class 6- edge neatening, Class7- addition of trims, and Class 8- one-place components. (Tyler, 20008) STITCH TYPE Thread and stitches are the primary means of garment assembly. (Glock et al, 2000, p.427) British standard has also classified stitches into six categories; Class 100- single thread chain stitches, used for temporary stitching, Class 200- hand stitches used for sewing edges, Class 300- lockstitches that are suitable for closing, lapping and decorating, Class 400- multi-thread chain stitches used as cross over seams and side seams, Class 500- overedge chain stitches used to neaten and bind of cut edges of a woven and knitted fabrics, and Class 600- covering chain stitches used to make flat extensible seams on knitted fabrics. Each of the above classified stitches has various stitch types within them. (Eberle et al, 2004, p. 167) SEWING MACHINE NEEDLES Machine needles come in various shapes and sizes and should be used on individual machines, stitch types, threads and fabrics. The two basic classes of needle points are Round and Cutting points needles. Round points needles includes slim set points which are used for blind stitches and for fine densely woven fabrics, set cloth points, heavy set point used especially for button sewing machines, light ball points used for sensitive fabrics such as knits, medium ball point and heavy ball points. Cutting points needles which are used sewing leather and films or coated and laminated textiles are left cutting points and spear points. (Eberle et al, 2004) SEWING THREAD The threads are used to form stitches on fabrics. They are made from either natural or synthetic fibres or both and are chosen according to suitability for sewing in relation to uniform thickness, smoothness, elasticity and strength. Cotton is used to make natural fibre threads and nylon is used to make synthetic fibre threads. Sewing threads undergo the same process of production with yarns. The fibres are carded, combed, drawn and spun into yarns which in turn are twisted into sewing threads. Sewing threads can either be Z or S twist. The fibre on the surface of a Z twisted thread are faced to the right when the thread is held vertically while the fibre on the surface of an S twisted fabric are faced to the left when the thread is held vertically. The properties of threads are; colours, diameter, finish, size, twist and cord content. Characteristics of sewing thread are colours, fastness, flexibility, elongation, strength, shrinkage, twist balance, etc. FEED MECHANISM It is essential to consider the issues of feed mechanism in the process of product development. Feed mechanism is a process used in a sewing machine to join fabrics together whereby mechanism feeds the fabrics past the needle to achieve good fit, style appearance and performance. The sewing machine feed system are drop feed, differential feed, variable top and bottom feed (before and behind the needle), compound feed, alternating compound feed, puller feed (roller feed) and clamp feed(jig). Feed mechanism is made up of three sewing machine parts; presser foot, throat plate and feed dog. Material feed is achieved by the feed dog which contains several rows of serrated teeth. The feed dog is moved upwards and forwards through slits in the throat plate to engage with the other side of the material being sewn and to advance it by a distance of one stitch length. Contact between feed dog and material is is controlled by the spring-loaded presser foot. The feed dog is then lowered and move d back to its starting position. (Eberle et al, 2004, p.162) MACHINERY TECHNOLOGY Machinery technologies are; basic sewing machines, simple automatics, automated workstations and reprogrammable automated system. Machinery is a very important aspect of product development because it is very important to note the available machines as well as their capabilities. There are various classes of sewing machines used in clothing manufacture and these include; basic sewing machines, simple automatics, automated workstations, reprogrammable automated systems. BASIC SEWING MACHINE Basic sewing machines consist of a stand, table, electric motor, and a head. It offers one stitch type and has various shapes with means which helps the operator to control the speed of sewing, stitch density and presser foot position. (Tyler, 20008) there are several types of basic sewing machine; flat bed, raised bed, post bed, cylinder bed, feed-off-arm bed, side bed, etc. SIMPLE AUTOMATICS These are controlled manually but the movement of the components to be sewn are being controlled by special cams during the entire sewing operation. Simple automatic machine produces only one configuration of sewing. Examples of simple automatic machines are buttonholers, buttonsewers, bar tack machines and label sewers. (Tyler, 20008) AUTOMATED WORKSTATIONS These make use of electric, electronic and pneumatic control and incorporate sophisticated conveyor and clamp technology and perform complex functions in addition to sewing. (Tyler, 20008) These machines are, profile sewing system, CNC sewing machines and robots. Examples are patch pocket setting on jeans and shirts, run stitching collars or flaps, long seam joining, making jetted pockets, serging trousers and sequential buttonholing. Apart from loading and removing the garment after sewing, the machine controls the rest of the handling and sewing. (Tyler, 20008) Sophisticated automated workstations have numerical control, automated loading, unloading, edge sensors and other intelligent features. (Lecture note) REPROGRAMMABLE AUTOMATED SYSTEMS In reprogrammable automated system, garment parts are loaded and a series of machines carries out a series of operations to a section of a garment, for example, one system utilises robotic handling to assemble a three-part jeans pocket. (Tyler, 20008) However, these reprogrammable automated systems are not yet being used commercially. ANCILLARY MECHANISMS FOR HIGH SPEED SEWING MACHINES These are industrial machines known as high speed machines, generally provided with several ancillary mechanisms whose function is to reduce the time needed by the operator for non-sewing activities. (Eberle et al, 2004) The ancillary equipment for industrial high speed sewing machines are; thread cutter, thread wiper, automated presser foot, needle positioning, stitch compression, bar tacking, automatic start using an optical sensor, automatic stop using an optical sensor, edge trimmer and edge trimmer(stepped). (Eberle et al, 2004) CAD TECHNOLOGY CAD which means computer aided design is another technology identified as quick response element. ‘‘CAD systems are now the essential tools required to integrate and achieve success taking the role of the ‘comfigurator between manufacture and retail. (Beazley and Bond, 2003, p. vii) CAD is used in the designing of new styles, as well as ethical specifications and functions of pattern creation, grading, production of cutting markers and lay planning in garment production. CONCLUSION Technology is a very important part of product development as it ensures quality, with suitable fit, fashionable and attractive appearance and speeds up production to meet with consumer satisfaction. Fashion needs depend on the creative technical development of the fashion industry because only innovative technology and manufacture can break through into the ongoing fast fashion. Much innovation and interest in fashion has given consumers a lot of choice in keeping up with fashion trend. The fashion industry is now being faced with a lot of challenges because fashion is an everyday activity which we can never do without. According to Fan (2004, p.1), ‘‘our appearance is our most apparent individual characteristicsrelying on appearance to guide personal decisions and social interactions is not only natural, but inescapable. The body and the way it is clothed and presented is a primary medium of expression, for it makes statements on the condition of society itself. Hence, fashion demands are drastically increasing every now and then so as to meet up with the fast fashion. The ultimate goal of manufacturers and retailers of clothing is to provide clothing for the whole range of their target market that constantly fits well to increase customer satisfaction and ultimate sales. (Ashdown, 2007, p. 348) To achieve this ultimate goal, manufactures must always create and interpret new trends, thereby making sure they comply with the norms and technologies that are involved in the day-to-day process of product assembly. Hence, current technologies are the basic requirements of product development which helps to brings about an innovation known as quick response. Quick response is a term used for the strategies being used to achieve fast fashion.

Intellectual and social development of infants Essay

Nature can influence a child’s intellectual development, by genetic inheritance, the child could have inherited Down syndrome, which could cause a later development with the children’s speech and language, Down syndrome can also affect the muscles for them to become weak. They can also develop behaviour issues, such as autism, stubbornness, tantrums, compulsive and obsessive disorders. Children with Down syndrome can also develop a brain disorder which can affect the memory, judgement and function in later life. Another genetic disorder that can affect a child’s intellectual development is Angelman syndrome. If a child has inherited Angelman syndrome this will affect the child’s nervous system. The characteristic that are affect by this condition can include, intellectual disability for example learning difficulties, looking after themselves and communicating. These genetic inheritances can affect the child’s learning skills and also the social skills for the child. Nurture can affect the child’s intellectual development, when the child is in school, the teacher might not be teaching the child the best way. This will affect the child’s learning skills. Another affect that nurture has on intellectual development would be the environment, if a child is brought up in crime, then there is a possibility that the child will grow up to commit crime. Another affect would be if the child parents do not spend time with the child after school, to help complete their homework then they can fall behind in lessons. Nature can affect a child’s social development, if the child has inherited Autism. People with Autism find it hard to build relationships with people. This will make it hard from them to communicate in school, with other children. Autistic people also have difficulty with their speech and language. They also prefer to be alone which can also affect the child’s social development. Nurture can affect the child’s social development, by the child brought up in an abuse family the child will have to look outside the family for stability and affection. The environment can affect social development. If the child interacts with people doing crime, the child will also be lead into crime in the future. An example of nurture which can affect the social development would be a boy 12-13 years who was found running around with wolves in France. When the child was brought back into society, he could not talk or walk and he never developed as a normal human being, this shows that if a child needs to be taught socially to develop in the right way. Physical and emotional development of adolescents Nature can affect adults physical development, Nurture can affect an adults physical development, by environmental influences such as; exposure to toxins, illnesses and being raised in poor living conditions can also affect physical development. Head injuries, infections, lead poisoning are few of the many environmental reasons for affected physical development. Another affect for physical development would be if an adult has been in a car accident, amputation may be needed; this will lead to the adult not being able to walk. Old age can also affect physical development, as the adult is getting older their muscles, bones and internal organs are becoming weaker. When they reach old age their muscles and bones, will become stiffer, this will affect their walking. Nature can affect adults emotional development, with the hormones in the adult body, the hormones can affect emotional development. For example people born with high levels of testosterone can become more courageous and aggressive, where as someone with extreme levels of estrogen will lead to sensitivity and emotion. Nurture can affect an adult’s emotional development, if a family or friend has passed away, this can affect the adults emotional development. Another affect for emotional development would be marriage and divorce,

Summary of Pennzoil v Texaco - Free Essay Example

Sample details Pages: 7 Words: 2204 Downloads: 1 Date added: 2017/06/26 Category Law Essay Type Analytical essay Did you like this example? Case Summary Getty Oil Company had two major shareholders, Gordon Getty, Getty Museum. Gordon Getty who was also the trustee of the Sara Getty Trust owned about 40% of the outstanding shares of Getty Oil. The Getty Museum held about 12% of shares of Getty Oil. In January 1984, Pennzoil Company rendered an offer to buy 3/7ths of Getty at $110 per share. Then representatives of Pennzoil, Gordon Getty and Museum reached the Memorandum of Agreement by signing on the agreement. The agreement stated that $110 per share offer was subject to the approval of the board of Getty oil and it would expire by its own terms if not approved at the board meeting in later days. Few days later, the board of directors of Getty Oil voted to reject the agreement price of $110 per share on the meeting as it was too low. Afterwards, Getty Oilà ¢Ã¢â€š ¬Ã¢â€ž ¢s investment banker, Geoffrey Boisi, started looking for other companies that are able to offer a higher price. Meanwhile, the b oard reconvened to revise Pennzoil proposal to $110 per share plus a $3 à ¢Ã¢â€š ¬Ã…“stubà ¢Ã¢â€š ¬Ã‚  to be paid from the proceeds of the sale of ERC, a Getty Oil subsidiary. On the same day, the board accepted an updated proposal in which the guaranteed minimum for the stub was increased to $5. Towards the end of the meeting, representatives from Pennzoil and Getty Oil agreed on the proposal by shaking hands. After the meeting, lawyers began preparing definitive merger documents and press release to announce the deal. Next day, both Getty Oil and Pennzoil made the same announcement about this deal; however, the merger documents were not ready yet. At the course of the merger document preparation, the Gettyà ¢Ã¢â€š ¬Ã¢â€ž ¢s investment banker Boisi still continued to contact other companies that could offer a higher price than Pennzoil offered. As a result, Texaco decided to offer simpler deal of $125 per share in cash. One day after the Texacoà ¢Ã¢â€š ¬Ã¢â€ž ¢s offer, Ge tty board changed their mind to accept Texacoà ¢Ã¢â€š ¬Ã¢â€ž ¢s offer instead, then Texaco issued a press release stating the merger between Getty Oil and Texaco immediately. Next day, the merger agreement was signed together with stock purchase agreement with the Museum and stock exchange agreement with the Trust. This had resulted in lawsuit in Delaware and Texas brought by Pennzoil against Getty Oil, Gordon Getty, Getty Museum, and Texaco in order to get the deal back to Pennzoil. Later on, Pennzoil added tortious interference with a contract to its claims against Texaco as Texaco had agreed to indemnify Getty Oil from any claims arising out of its sale to Texaco. In Texas court, Texaco affirmed that Pennzoil never had a contract because the parties had not yet agreed on the essential terms of the deal and that, even if a contract did exist, Texaco did not tortuously interfere with it. Neither Getty nor Texaco treated handshake as a symbol of agreement. Pennzoil presented the amount of damages caused by the agreement withdrawal. It was totaled at 7.53 billion in compensatory damages. In the end, the jury awarded Pennzoil $7.53 billion in compensatory damages and $1 billion in punitive damages. Analysis The issue here is whether both Pennzoil and Getty were bound to the Memorandum of Agreement, whether there was a binding contract, and whether Texaco tortuously interfered with a contract between Pennzoil and Getty. The determination of these three factors is a question of fact for three parties. The terms of a contract could determine whether the contract is binding or not. Once it shows that there is a binding contract, we could start focusing on whether Texaco intentionally or unintentionally interfered with the contract. There was a substantial evidence of Pennzoil and Gettyà ¢Ã¢â€š ¬Ã¢â€ž ¢s intention to be bound subject to approval by their boards of directors. This intent was clearly shown by the Memorandum of Agreement and press release by both parties. However, the most confusing part is à ¢Ã¢â€š ¬Ã…“subject toà ¢Ã¢â€š ¬Ã‚ . There is an arguable difference between a transaction being subject to various requirements, and the formation of an agreement being conditioned upon completion of such requirements. Any intent of the parties not to be bound before signing a formal document was not so clearly expressed in their press releases to establish that there was no contract at that time. The press release does refer to an agreement in principle and states that the transaction is subject to execution of a definitive merger agreement. But the announcement as a whole is allegedly stated in indicative terms, not in subjunctive or hypothetical ones. The press release describes what shareholders will receive, what Pennzoil will contribute, that Pennzoil will be granted an option, etc. Pennzoils witnesses testified that when business people use agreement in principle, it means that the parties have reached a meeting o f the minds with only details left to be resolved. Other than the preliminary financial arrangements made by Pennzoil, there was little relevant partial performance in this case that might show that the parties believed that they were bound by a contract. However, the absence of relevant part performance in this short period of time does not compel the conclusion that no contract existed. At the end of the January 3 board meeting, the Getty Oil Company, the Museum, the Trust, and Pennzoil intended to be bound to an agreement that provided that Getty Oil would purchase the Museums shares forthwith as provided in the Memorandum of Agreement. There is evidence in the record to support this finding. Based on the criterion to determine whether the parties intended to be bound only by a formal signed writing, we should know whether a party expressly reserved the right to be bound only when a written agreement is signed; whether there was any partial performance by one party that discla imed the contract was accepted; whether all essential terms of the alleged contract had been agreed upon; and whether the complexity or magnitude of the transaction could require that a formal and executed writing would normally be expected. In order to figure out whether Texaco interfered with the merger agreement between Pennzoil and Getty Oil, we need to identify elements of the tort of interference with contract: existence of a contract, tortfeasorà ¢Ã¢â€š ¬Ã¢â€ž ¢s knowledge of the contract, tortfeasorà ¢Ã¢â€š ¬Ã¢â€ž ¢s intentional inducement of a breach of contract, and damages. As we discussed above, there were a binding contract and pecuniary damages resulting from the breach of contract. Under the common law, a party who suffers a breach of contract is entitled to recover in tort from a third party whose improper interference induced the breach. This right is over and above any claim for contract damages the aggrieved party may have against the breacher. Damages for th e same injury may not be recovered twice, but it is possible for the aggrieved party to recover compensatory damages from the breacher, and exemplary or punitive damages from the inducer. Note that under the Restatement, liability in tort can attach even if there is no breach of contract; all that is needed is nonperformance. A defendant who induces a contracting party to exercise her bargained-for right of termination may be liable for the other partyà ¢Ã¢â€š ¬Ã¢â€ž ¢s losses, if the inducement is found to be improper. The contract need not even be fully enforceable; courts have held that one who induces a contracting party to avoid a voidable contract (for example by asserting the Statute of Frauds or a defense of mistake) may be liable for the counterpartyà ¢Ã¢â€š ¬Ã¢â€ž ¢s pecuniary losses. There are differences between New York law and Texas law. Under New York Law, if parties do not intend to be bound to an agreement until it is reduced to writing and signed by both parti es, then there is no contract until that event occurs. If there is no understanding that a signed writing is necessary before the parties will be bound, and the parties have agreed upon all substantial terms, then an informal agreement can be binding, even though the parties contemplated evidencing their agreement in a formal document later. In the beginning, Pennzoil tried to block the Getty-Texaco merger at court in Delaware, but the Delaware court denied the request, and the next day Pennzoil filed suit in Houston seeking for awards of damages. Under Texas law, Judges dealt with the case and granted damages award to Pennzoil. Texaco could not appeal until it posted a bond for the full amount of the judgment, plus interest, which the company could not afford. Then, Texaco tried to move the case to New York and complained to a Federal judge about unfair ruling. Federal District Judge Charles Brieant ruled that Texaco did not have to post bond for the full amount, but could put up $ 1 billion as security. A Federal appeals court in New York affirmed his ruling. This triggered that not only Pennzoil but many outside legal experts argued that it threatened the principle of federalism by invading territory reserved for the state courts. This goes to important constitutional questions about federalism and the fairness of the legal process in different states. A big mistake Texaco made was not able to deal with evidence of damages at trial, a professor from Columbia law school said. With the benefit of hindsight, Texacos trial strategy was obviously catastrophic, said Prof. Robert Mnookin, who teaches at the Stanford law school. Additionally, most impartial observers would agree that the jurys damage award was absurdly high and was not proportionally related to Pennzoils actual damages (Lewin Tama 1989) From ethical viewpoint, this is a true story of deceit and treachery. Pennzoil spent so many days in negotiating with Getty Oil and preparing for the merger. T hey ended up making Memorandum of Agreement and shaking hands to agree with new terms. Both issued the merger announcement on their website. All of these could prove that they were very likely inclined to be bound by the agreement. However, Getty Oil backed out of the agreement for the offer by Texaco, which made Pennzoilà ¢Ã¢â€š ¬Ã¢â€ž ¢s efforts worthless. Despite whether they should be bound by the agreement or not, Getty Oil misled Pennzoil. Another issue stemmed from the lawsuit is the big winners in this case. They are all the lawyers who got paid $60 million, a professor at the University of Michigan law school said. It is hard to justify $60 million for this. Conclusion This case suggests that Pennzoil and Getty Oil had made a preliminary agreement. If the merger turns out to be profitable after uncertainties are resolved, the parties would make a formal contract later. But if the transaction turns out to be unprofitable, the parties would abandon the project toget her. Disputes aroused under the preliminary agreement after Pennzoil had invested time and efforts. Disappointed Pennzoil believed that they were entitled to compensation either for their expectation or for the investment cost, while Getty Oil thought that they were entitled to exit without liability. In order to decide whether the parties have reached a fully binding contract or not, we should looked into two things. First, the parties had agreed on all material terms and intended to memorialize the merger agreement in a formal document. Texaco court treated this type of agreement as a fully binding contract when the evidence supports a finding that the parties did not intend the formalization of their agreement to be essential. Second, the parties have made a preliminary agreement as defined above when they have agreed on certain terms but left other terms open, so that the best inference from their negotiations is that they have made a binding preliminary commitment to pursue a profitable transaction. First, the parties have engaged in preliminary negotiations when they have discussed a deal but have not agreed to one. In this event, the disappointed party can recover nothing.4 1. Does your draft essay identify and have a discussion of each of the 4 elements of the tort of interference with contract, Pennzoils cause of action against Texaco? 2. Does it have a deeper discussion of one of the elements, possibly whether there was a contract at all, possibly whether the law on wrongful inducement to breach a contract was correctly applied? Did you explain what another analyst said about that issue in a law review article? Bagley Restatement (Second) of Torts Section 766 defines interference with contract. à ¢Ã¢â€š ¬Ã…“One who intentionally and improperly interferes with the performance of a contractà ¢Ã¢â€š ¬Ã‚ ¦between another and a third person by inducing or otherwise causing the third person not to perform the contract, is subject t o liability to the other for the pecuniary loss resulting to the other from the failure of the third person to perform the contract.à ¢Ã¢â€š ¬Ã‚  Restatement (Second) of Torts 766 (1979). Based on those elements, it seems you have one of two areas in which you might explain the lack of clarity in the law: 1. What is a contract and whether there was one in this story. 2. Whether Texaco honestly believed Getty and Pennzoil had a contract and intentionally induced Getty to breach it Reference TAMAR LEWIN. 1989. Pennzoil-Texaco Fight Raised Key Questions. [online] Available at: https://www.nytimes.com/1987/12/19/business/pennzoil-texaco-fight-raised-key-questions.html. [Accessed on March 2014] Cornell University Law School. 1987. PENNZOIL COMPANY, Appellant v. TEXACO, INC. [online] Available at: https://www.law.cornell.edu/supremecourt/text/481/1#writing-type-1-POWELL. [Accessed on March 2014] https://openjurist.org/784/f2d/1133/texaco-inc-v-pennzoil-company Don’t waste time! Our writers will create an original "Summary of Pennzoil v Texaco" essay for you Create order