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BIBL 105 Study Guide - Final Guide: Psalms, Mull, Proverb

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cyangoldfish456
19 Apr 2017
School
Liberty University
Department
Bible
Course
BIBL 105
Professor
Professor Hulshof

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Document Summary

The psalms remind us that no matter how and what we are feeling, we can tell god about it. He already knows, but he invites us to spend some quality time talking with him about it. The psalms remind us that god wants to be in an honest relationship with him - nothing hidden or falsely represented. He wants to know when we are unhappy and when we are happy, when we are in distress and when we are excited, when we"re in a loving mood and when we"re downright angry. God doesn"t put any emotional qalifiers on our relationship to him. He doesn"t specify that we may only pray to him when we are happy and content with the world. He doesn"t require that we only sing praise songs. The psalms encourage us to live in a community of faith where we express our feeling and be honest about our relationship with god.

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Related Questions

PART A
Jasper is a furniture manufacturer who runs a successful business in Caroline Springs as a sole trader. He owns the land on which his existing factory is built together with plant and equipment including two motor vehicles. He wants to take on partners to help put into effect his grand plans for expansion including the setting up of several more factories. Obviously, he says to himself, I need an injection of funds to finance these great plans.
So Jasper goes to a branch of the Very Accommodating Bank (‘VA Bank’) that has just opened up in his area.
On 31 August he sees the local manager of the VA Bank, a lady called Gloria. He discusses with Gloria the amount of borrowed funds Jasper thinks he will need for his business. They agree that a loan of $750,000.00 would meet Jasper’s immediate needs.
They discuss different types of loans and Gloria says: ‘Well, Jasper that is all very interesting. Based upon my experience with similar businesses to yours, I can say that the Bank would be very interested in lending you what you need. Of course we would require security. We would certainly require a mortgage over your real property together with a fixed/floating charge over your other assets.’
Jasper says that he doesn’t want to pay high fees and requires an interest rate of no more than 7% payable quarterly for the loan. Gloria says: ‘As to interest, I can only tell you that our current rate is 7.25%. What do you think about all of this? ‘Jasper says to her: ‘I will think about it and get back to you.’ Gloria says: ‘Well, don’t take too long about it.’
Jasper is getting a little fed up with Gloria’s over bearing manner and thinks he can get a better deal elsewhere. Unfortunately, he finds that in fact no one else will lend to him. So two weeks later on 14 September Jasper emails Gloria, in which email he states: ‘I accept your offer of 31 August.’
A week later Jasper phones Gloria to ask when he can access the loan. Gloria says to him: ‘Sorry, Jasper, but there has been a downturn in the Bank’s shares and the interest rate for loans such as yours is now 8.5%.’
(a) Ignoring legislation or Codes of Conduct, advise Jasper as to whether or not VA Bank is obliged to provide him with a loan of $750,000.00 at 7.25%. Give reasons for your answer.​ [5 marks]
Although he is dismayed at the Bank’s attitude, Jasper is desperate to get his plans under way and phones Gloria saying: ‘We agree to your terms but I have one question of importance to me - Can I have the option of repaying the loan on an interest only basis instead of repaying principal and interest should my circumstances make such a change necessary?’ To which Gloria replied: ‘I am fairly certain you can have that facility.’
Jasper receives the Bank’s standard contract documents for the loan, signs them and returns the documents to Gloria. Unfortunately Jasper was pressed for time and did not actually read the contracts before signing. On reading them the next day he is dismayed to find that they contain the usual obligations to repay regular instalments of principal and interest but there is no reference to an option to pay interest only.
(b) Advise Jasper if he can insist upon the Bank including an option clause in the loan agreement.​​ [3 marks]
Finally, Jasper had previously banked at the ​Westfall Bank. In the course of discussions between Gloria and Joe, the Manager of Westfall Bank, Joe tells Gloria that Jasper needs to be kept an eye on as he was always writing cheques in favour of the local casino. Gloria passes this information on to Jasper, who is appalled at this slight on his reputation.
(c) Advise Jasper what rights he has against Westfall Bank. [2 marks]​
PART B
Chameleon Ltd is a customer of the Caring and Wealthy Bank. It is a very large company and employs more than 100 people and therefore the Code of Banking Practice does not apply to it. When it opened its account with the Caring and Wealthy Bank, Chameleon Ltd agreed to be bound by this Bank’s terms and conditions as notified to it from time to time. Six months after the account is opened Caring and Wealthy Bank sends its statement to Chameleon Ltd together with the following letter:
PLEASE READ THIS LETTER. IT CONTAINS EXCITING NEW INFORMATION ABOUT YOUR ACCOUNT.
Dear Customer (‘you’),
The Caring and Wealthy Bank (‘us’) is always trying to find new ways to service you.
To enable us to do this, however, we have decided to introduce a new term of the contract between you and us. This is to enable us to reduce costs in one area so we can provide you with exciting new services. The new clause 12 of the contract between you and us is as follows:
The customer (‘you’) must read each bank statement sent to you. If there are any inconsistencies in the statement you must notify the bank of the inconsistencies within 10 business days. Failure to notify us of such inconsistencies means the amount of the balance contained in the incorrect statement represents what you owe us or what we owe you, as the case may be.
The managing director of Chameleon Ltd receives the bank statement and letter. She doesn’t read the bank statement. She starts to read the letter but throws it in the bin after she reads the first sentence thinking the bank is trying to sell new products to the company. ‘Just another publicity stunt,’ she remarks to the office cat.
The bank statement shows that between 1 February and 1 April $1 million has been fraudulently withdrawn from the company’s bank account. Chameleon Ltd does not notify the bank of the fraudulent withdrawal within 10 business days of receiving the statement. It is later discovered by the bank that an employee of Chameleon Ltd, called Cynthia, had fraudulently withdrawn the $1 million and then proceeded to lose the whole sum at the casino. The bank was then informed.
Two months later on 1 June the managing director becomes aware that on 15 May, Colin, the company’s accounts clerk, had fraudulently stolen $2,000 from the company’s current bank account at The Caring and Wealthy Bank by forging company cheques. Colin’s wife had just died and the managing director does not tell the bank about the forgeries. On 30 July, Colin steals a further $1,000 from the company account in the same manner.
After discovering on 30 July what Colin has done, the managing director comes to you and asks you to advise Chameleon Ltd what to do and whether The Caring and Wealthy Bank is entitled to debit the company’s account for
1. the $1million stolen by Cynthia and
2. the $3,000 in total stolen by Colin.
Advise Chameleon Ltd giving reasons with relevant cases. Consider what effect, if any, the letter from the Bank purporting to introduce a ‘NEW TERM’ has on the situation? What Duties of the Banker and Customer ,if any,are involved here? ​ [7 marks]
PART C
Martin Pty Ltd has an account with the Caring and Wealthy Bank named ‘Wages Account’ used (as Martin’s CEO explained to the Bank’s Manager ) for payment of wages to staff. The balance in credit was $25,000.The company also had a current account in debit to the extent of $10,000 and a loan account so designated in debit to the extent of $15,000.
Can the Bank combine any of these accounts? Explain the concept of Combination of Accounts using case law to illustrate your answer. [3 marks]

This questions are based on FINANCE LAW subject,
If you guys can solve it using IRAC METHOD.
PART A
Jasper is a furniture manufacturer who runs a successful business in Caroline Springs as a sole trader. He owns the land on which his existing factory is built together with plant and equipment including two motor vehicles. He wants to take on partners to help put into effect his grand plans for expansion including the setting up of several more factories. Obviously, he says to himself, I need an injection of funds to finance these great plans.
So Jasper goes to a branch of the Very Accommodating Bank (‘VA Bank’) that has just opened up in his area.
On 31 August he sees the local manager of the VA Bank, a lady called Gloria. He discusses with Gloria the amount of borrowed funds Jasper thinks he will need for his business. They agree that a loan of $750,000.00 would meet Jasper’s immediate needs.
They discuss different types of loans and Gloria says: ‘Well, Jasper that is all very interesting. Based upon my experience with similar businesses to yours, I can say that the Bank would be very interested in lending you what you need. Of course we would require security. We would certainly require a mortgage over your real property together with a fixed/floating charge over your other assets.’
Jasper says that he doesn’t want to pay high fees and requires an interest rate of no more than 7% payable quarterly for the loan. Gloria says: ‘As to interest, I can only tell you that our current rate is 7.25%. What do you think about all of this? ‘Jasper says to her: ‘I will think about it and get back to you.’ Gloria says: ‘Well, don’t take too long about it.’
Jasper is getting a little fed up with Gloria’s over bearing manner and thinks he can get a better deal elsewhere. Unfortunately, he finds that in fact no one else will lend to him. So two weeks later on 14 September Jasper emails Gloria, in which email he states: ‘I accept your offer of 31 August.’
A week later Jasper phones Gloria to ask when he can access the loan. Gloria says to him: ‘Sorry, Jasper, but there has been a downturn in the Bank’s shares and the interest rate for loans such as yours is now 8.5%.’
(a) Ignoring legislation or Codes of Conduct, advise Jasper as to whether or not VA Bank is obliged to provide him with a loan of $750,000.00 at 7.25%. Give reasons for your answer.​ [5 marks]
Although he is dismayed at the Bank’s attitude, Jasper is desperate to get his plans under way and phones Gloria saying: ‘We agree to your terms but I have one question of importance to me - Can I have the option of repaying the loan on an interest only basis instead of repaying principal and interest should my circumstances make such a change necessary?’ To which Gloria replied: ‘I am fairly certain you can have that facility.’
Jasper receives the Bank’s standard contract documents for the loan, signs them and returns the documents to Gloria. Unfortunately Jasper was pressed for time and did not actually read the contracts before signing. On reading them the next day he is dismayed to find that they contain the usual obligations to repay regular instalments of principal and interest but there is no reference to an option to pay interest only.
(b) Advise Jasper if he can insist upon the Bank including an option clause in the loan agreement.​​ [3 marks]
Finally, Jasper had previously banked at the ​Westfall Bank. In the course of discussions between Gloria and Joe, the Manager of Westfall Bank, Joe tells Gloria that Jasper needs to be kept an eye on as he was always writing cheques in favour of the local casino. Gloria passes this information on to Jasper, who is appalled at this slight on his reputation.
(c) Advise Jasper what rights he has against Westfall Bank. [2 marks]​
PART B
Chameleon Ltd is a customer of the Caring and Wealthy Bank. It is a very large company and employs more than 100 people and therefore the Code of Banking Practice does not apply to it. When it opened its account with the Caring and Wealthy Bank, Chameleon Ltd agreed to be bound by this Bank’s terms and conditions as notified to it from time to time. Six months after the account is opened Caring and Wealthy Bank sends its statement to Chameleon Ltd together with the following letter:
PLEASE READ THIS LETTER. IT CONTAINS EXCITING NEW INFORMATION ABOUT YOUR ACCOUNT.
Dear Customer (‘you’),
The Caring and Wealthy Bank (‘us’) is always trying to find new ways to service you.
To enable us to do this, however, we have decided to introduce a new term of the contract between you and us. This is to enable us to reduce costs in one area so we can provide you with exciting new services. The new clause 12 of the contract between you and us is as follows:
The customer (‘you’) must read each bank statement sent to you. If there are any inconsistencies in the statement you must notify the bank of the inconsistencies within 10 business days. Failure to notify us of such inconsistencies means the amount of the balance contained in the incorrect statement represents what you owe us or what we owe you, as the case may be.
The managing director of Chameleon Ltd receives the bank statement and letter. She doesn’t read the bank statement. She starts to read the letter but throws it in the bin after she reads the first sentence thinking the bank is trying to sell new products to the company. ‘Just another publicity stunt,’ she remarks to the office cat.
The bank statement shows that between 1 February and 1 April $1 million has been fraudulently withdrawn from the company’s bank account. Chameleon Ltd does not notify the bank of the fraudulent withdrawal within 10 business days of receiving the statement. It is later discovered by the bank that an employee of Chameleon Ltd, called Cynthia, had fraudulently withdrawn the $1 million and then proceeded to lose the whole sum at the casino. The bank was then informed.
Two months later on 1 June the managing director becomes aware that on 15 May, Colin, the company’s accounts clerk, had fraudulently stolen $2,000 from the company’s current bank account at The Caring and Wealthy Bank by forging company cheques. Colin’s wife had just died and the managing director does not tell the bank about the forgeries. On 30 July, Colin steals a further $1,000 from the company account in the same manner.
After discovering on 30 July what Colin has done, the managing director comes to you and asks you to advise Chameleon Ltd what to do and whether The Caring and Wealthy Bank is entitled to debit the company’s account for
1. the $1million stolen by Cynthia and
2. the $3,000 in total stolen by Colin.
Advise Chameleon Ltd giving reasons with relevant cases. Consider what effect, if any, the letter from the Bank purporting to introduce a ‘NEW TERM’ has on the situation? What Duties of the Banker and Customer ,if any,are involved here? ​ [7 marks]
PART C
Martin Pty Ltd has an account with the Caring and Wealthy Bank named ‘Wages Account’ used (as Martin’s CEO explained to the Bank’s Manager ) for payment of wages to staff. The balance in credit was $25,000.The company also had a current account in debit to the extent of $10,000 and a loan account so designated in debit to the extent of $15,000.
Can the Bank combine any of these accounts? Explain the concept of Combination of Accounts using case law to illustrate your answer. [3 marks]

Case : Multi Projects Inc (Page 452 -454) Successful Project Management 6th Edition (Clements & Gido)

Case Study 1 Multi Projects

Multi Projects, Inc., is a well established consulting firm with 400 employees. It has many projects going on at the same time for various clients. Multi Projects has a good reputation , and nearly 30 percent of its business is from previous clients. It targets growing companies for future business and has been successful in this, too. Because of the growth, things have been quite hectic, with employees trying to keep up with the work, keep old clients satisfied, and bend over backward to accommodate new clients. Multi Projects has been hiring new employees-in fact, it has grown from 300 to 400 employees over the past two years.

Multi Projects has a matrix organizational structure. As new projects come in, a project manager is assigned. One project manager may be assigned to several projects at a time, depending on the sizes of the projects. Projects range in value from $20,000 to $1 million and can be from one month to two years in duration. Most projects are about six months in duration and worth about $60,000 to $80,000. The firm performs a range of consulting services, including market research, manufacturing system design, and executive recruiting. Its clients are medium to large corporations and include banks, manufacturers, and government agencies.

Multi Projects just got a call from Growin Corporation, which wants to go forward with a project that Multi Projects proposed nearly six months ago. Partners at Multi Projects are surprised by the good news. They had thought the project was dead. They are also very interested in carrying out a first project for Growin Corporation because it is a rapidly growing company. Multi Projects sees an opportunity to do several projects with Growin Corporation in the future.

Jeff Armstrong has been assigned as project manager for the Growin Corporation project. He has been with Multi projects far about a year and has been anxious to get a challenging project to manage. He worked on the proposal for the Growin project.

Tyler Bonilla is a senior systems engineer. He has been with Multi Projects eight years. He has an excellent reputation, and previous clients with whom he has worked usually request that he be assigned to their projects. He enjoys his work, even though he is extremely busy. He is currently working full time on a project for Goodold Company, a previous client. Goodold said that one of the reasons it does business with Multi Projects, rather than with another consulting firm, is the great work Tyler does on their projects.

Jennifer Fernandez is the manager of systems engineering. She has been with Multi Projects about 15 years. Tylet reports to Jennifer, but because of his heavy workload and associated travel, he does not get to see Jennifer very often, other than at her monthly staff meetings.

Julie Capriolo is the project manager for the Goodold Company project. She has been with Multi Projects for about two years. Tyler is assigned to her project full time. The project has a tight schedule, and everyone is putting in extra hours . Julie feels a lot of pressure, but she has a good project team--she relies heavily on Tyler. She had heard from a friend who used to work with Jeff that Jeff is very ambitious and will do whatever it takes to make himself look good. This had not been of concern to Julie because she and Jeff have separate projects and do not run into each other very often.

The day Jeff is assigned to be project manager on the Growin Corporation project, he runs into Tyler in the hallway. "We got the Growin project," he tells Tyler.

"Great," responds Tyler.

Jeff continues, "You know, one of the big reasons they gave the project to us rather than another consulting firm is because we promised you'd be the lead systems engineer on the project, Tyler. They were impressed with you when we met with them to present our proposal. When do you think you can start work on the project:"

"Unfortunately, I can't. I'm tied up on the Goodold project, and things are really hectic. I'll be on the project for another four months," says Tyler.

"No way!" exclaims Jeff. "This Growin project is too important to me--I mean, to us. I'll take care of it."

"You'd better talk to Jennifer," Tyler tells him.

Jeff stops by Jennifer's office. She's busy, but he interrupts her. "I gotta have Tyler Bonilla on my Growin project. He wants to work on it, but he said I should talk to you."

"Thats impossible," says Jennifer. "He's assigned to Julie Capriolo's Goodold project for the next four months."

"Julie? Who's she? Never mind. I'll find her and work it out. You probably have somebody else you can assign to her project." replies Jeff, as he quickly bolts out of her office in search of Julie.

"Thats my decision , not yours or Julie's!" shouts Jennifer. But by that time Jeff is gone and does not hear what she says.

Julie is meeting with her project team in the conference room. Jeff knocks on the door and opens it. "Is there a Julie in here?" he asks.

"I am Julie," she responds.

"I need to talk to you ASAP. It's important. Oh, by the way, sorry for interrupting." Looking forward Tyler, who's in the meeting, Jeff says, "Hey, Tyler, catch you later, buddy, after I talk with Julie." Jeff then shuts the door and goes back to his office. Julie is noticeably disturbed at the interruption.

After her meetin, Julie calls Jeff. "This is Julie. What did you want to talk to me about that was so urgent?'

"About reassigning Tyler to my project. He's interested, and I've already talked to Jennifer about it," answers Jeff.

"Thats impossible," declares Julie. "He's critical to the Goodold project."

"Sorry," says Jeff, "but if the Growin project is successful, we'll get more business from them than we ever got form the Goodold Company."

"It's already after 6 o'clock and I have to be out of town for a week, but I'll discuss this with Jennifer as soon as I get back," snaps Julie

"Yeah, sure, whatever," responds Jeff.

The next day Jeff calls a meeting with Jennifer and Tyler. He starts by telling them, "I called this meeting to figure how soon Tyler can begin working on the Growin project and how you [looking at Jennifer] can get somebody to take his palce on what's-her-name's project."

"I think Julie should be here for this discussion," says Jennifer.

"She couldn't make it. Apparently she's out of town for a week, and we need to get going on the Growin project." Jeff tells her. "We need to prepare for a meeting with them next week. Besides, Tyler is the one we're talking about, and he'd rather work on the Growin project. Right, Tyler?'

"Ah, well, now that you have asked, I am getting tired of working on the Goodold projects," replies Tyler. "I'm not learning anything new. I mean, it's okay, but I'd like a change.

Jennifer is astonished. "You never mentioned that to me, Tyler."

Jeff breaks in, "Well, I guess it's settled. Jennifer, you assign somebody else to the Goodold project who'll feel a little more challenged and tell Julie when she gets back. In the meantime, me and my buddy Tyler have got a lot of work to do to look good for our meeting with the Growin people next week."

Evaluate the case and propose a solution. Prioritise the steps to be taken in your approach, be systematic and motivate your assertions.

Total: [100]