Operation Plans At Toivolas Construction Firm Business Essay - Free Essay Example

Sample details Pages: 6 Words: 1842 Downloads: 7 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? The owners of Toivola Construction LLC, believe that the most important element supporting the feasibility of this company is the strength and the proven ability of our managers and employees. Toivola Constructions management team consists of Terry Toivola, Tiffany Toivola, and Kevin Toivola. Each one of us represents a strong blend of complementary skills and business experience. Don’t waste time! Our writers will create an original "Operation Plans At Toivolas Construction Firm Business Essay" essay for you Create order In addition to each one of us having a business degree, Tiffany will soon have completed her Masters degree in Accounting. Kevin also has a Masters degree in Marketing. Terry, the CEO and Vice President, started his first business at a very young age and has since worked in all areas of construction throughout the United States. Terry Toivola As Chief Executive Officer, Terrys responsibilities include team building, building a positive culture among the team and setting our overall strategy in motion. As well as being responsible for these things Terry will be responsible for heading up each and every project making sure that they are completed within our budget and time constraints. As the supervisor of Cutting Edge construction, Terry was an integral part of a team that turned a one man construction company into a 3 million dollar a year organization. Terry has more than 10 years of construction industry experience with demonstrated accomplishments in cost effective negotiation s, cost management and control, claim analysis, scheduling and purchasing. His diverse project experience includes extensive coordination with private developers, owners, real estate managers, cost consultant and contractors. Tiffany Toivola As Chief Financial Officer Tiffany is responsible for the inflow and outflow of cash, balancing the books and payroll. Tiffany is also responsible for making financial reports for meetings, creating plans that will help up maximize our profits and determining ways for our employees to work more efficiently to reduce our costs. She is currently working in the construction industry as a corporate accountant and has built a group of dedicated vendors to assist the company with necessary supplies and lines of credit. Kevin Toivola As COO Kevin will be responsible for all aspects of our operations. This includes our supply chain, quality, sales and marketing, safety and health and our environmental concerns. Through the use of performance mea surements, flowcharts, best practice information and benchmarking he can predict potential problems in our operations and create the best methods to correct the issues. Kevin has an impressive combination of academic qualifications and business experience. He has a Masters degree in Marketing, and a Bachelors degree in Business management. This is supplemented by experience in his parents very successful business. Kevin has been responsible for the development and oversight of the accounting department in this company throughout his years in college and has an ongoing role. As well as the three managers we have three other professionals that will be responsible for every aspect of physically completing the projects. Roger Wood has 16 years experience in the construction industry with a concentration in all aspects of masonry. Jay Smith has 9 years in the construction industry with a concentration in forming finishing any renovation. Dennis Locke has 15 years experience in the co nstruction industry with his concentration being roofing, siding windows. With these three professionals on our side there are literally no projects that we cant do. Operating Plan Toivola Construction LLC will be operated out of Terry and Tiffanys home in Sartell, Minnesota. We currently own all of our equipment outright as it is necessary to own your own equipment and tools in the construction industry. All three of us managers are responsible for meeting with customers, negotiating prices for the projects and bidding on new projects. Terry will be implementing strategic plans to insure the work is completed in the planned amount of time and the customers are 100% satisfied. Tiffany will make follow up calls with each customer approximately two weeks after completion to make sure their experience working with Toivola Construction was gratifying and ask for their recommendation. According to a journal that I recently read by Abdelsamad, M.H 95% of the total number of business organizations in the U.S. are made up of small businesses. After reading this journal which talks about why some businesses fail, I realized that starting a business can be a dream c ome true for us, but is also full of risks. As a new company we have to strive for 100% customer satisfaction. A large number of new businesses fail each year due owners lack of management skills, excessive optimism, failure to monitor results, financial pitfalls and excessive withdrawals. As a manager of Toivola Construction Kevin will be able to predict these potential issues before they become an issue.Starting and running a business is not all profit and great salary as I once thought, it takes sacrifices that a business owner has to make such as long working hours, and time away from their families. It takes great discipline to accomplish a days work. Understanding and studying the above mentioned issues can assist us in making this company a huge success. To start we will charge by the hour for any remodeling projects done inside or outside of the home. Since our focus is on residential homes we will require a deposit of ÂÂ ½ down upon acceptance of our contract with t he rest due upon completion. In certain circumstances we will need to rely on TM (Time and Materials) such as creating a prototype or something we have never done before. If we do have to rely on TM we will not require a down payment just a signed contract not to exceed a certain dollar amount. Once the project is bid the work begins immediately. Our three main employees will work under our leadership to get the job done in the shortest time possible with 100% accuracy. We will implement an Autocratic style of leadership in the beginning until we know their capabilities and can fully trust them to represent our company. When dealing with new employees we would use the autocratic style because we want the projects done right, our way. Therefore we will tell them how to do the job and stay in constant communication throughout the project. Once they can be trusted we will implement the democratic style of leadership. Terry, Kevin and I will be using our own money for the initial startup of Toivola Construction. We each have equal amounts invested into the company. Tiffany has the ability thru her current vendor relationships to set up accounts at Mills Fleet Farm, Menards and a private builder supply company, provided a need arises and payments dont arrive on time. Terry has a very close friend in the loan department of Security State Bank where he has banked his entire life that would be more then willing to offer us a loan also. Through our direct marketing letters and flyers, web-sites, links and local newspapers, we will position our services as an inexpensive and hassle-free way to update and maintain our customers homes. By utilizing our services, residential customers will not hear that the job is too small to take on and we will never purposely over bid the project so we dont have to take it. We will cater to the needs of the plain Jane or the outrageous. Toivola Construction LLC can and will succeed in this economy! For part two of this assig nment I will be doing this a little different. Toivola Construction LLC is a small six man operation and most likely will not ever have a need to outsource work outside of Minnesota let alone on a global scale. So here is my part two, which focuses on the global economy. Several emerging trends are impacting organizational life. Of these emerging trends, two will be examined here; globalization and diversity. These two emerging trends create tensions for organizational leaders and employees as they go through waves of changes within their organizations. These tensions present opportunities as well as threats, and if these tensions are not managed well, they will result in dysfunctional and dire organizational outcomes at the end of any change process. To stay competitive, more organizations are embracing offshore outsourcing. Many functions are being shifted to India, the Philippines, Malaysia, and other countries for their low labor costs, high levels of workforce education, and technological advantages. According to the 2002-2003 Society for Human Resource Management (SHRM) Workplace Forecast, companies such as Ford, General Motors, and Nestle employ more people outside of their headquarters countries than within those countries. Almost any company, whether in manufacturing or services, can find some part of its work that can be done off site. Forrester Research projects that 3.3 million U.S. service- and knowledge-based jobs will be shipped overseas by the year 2015, 70 percent of which will move to India. Communication and information sharing are occurring across the globe in multiple languages and multiple cultures. Global competition and global cooperation coexist in the new world economy. One major consequence of globalization is greater mobility in international capital and labor markets. This creates a global marketplace where there is more opportunity, because there are more potential customers. However, there is also more competition, as local companies have to compete with foreign companies for customers. According to Dani Rodrik, professor of international political economy at Harvards Kennedy School of Government, the processes associated with the global integration of markets for goods, services, and capital have created two sources of tensions. First, reduced barriers to trade and investment accentuate the asymmetries between groups that can cross international borders, and those that cannot. In the first category are owners of capital, highly skilled workers, and many professionals. Unskilled and semiskilled workers and most middle managers belong in the second category. Second, globalization engenders conflicts within and between nations over domestic norms and the social institutions that embody them. As the technology for manufactured goods becomes standardized and diffused internationally, nations with very different sets of values, norms, institutions, and collective preferences begin to compete head on in markets for similar goods. Trade becomes contentious when it unleashes forces that undermine the norms implicit in local or domestic workplace practices. According to Thomas (1992), dimensions of workplace diversity include, but are not limited to: age, ethnicity, ancestry, gender, physical abilities/qualities, race, sexual orientation, educational background, geographic location, income, marital status, military experience, religious beliefs, parental status, and work experience. The future success of any organizations relies on the ability to manage a diverse body of talent that can bring innovative ideas, perspectives and views to their work. The challenge and problems faced of workplace diversity can be turned into a strategic organizational asset if an organization is able to capitalize on this melting pot of diverse talents. With the mixture of talents of diverse cultural backgrounds, genders, ages and lifestyles, an organization can respond to business oppor tunities more rapidly and creatively, especially in the global arena (Cox, 1993), which must be one of the important organizational goals to be attained. More importantly, if the organizational environment does not support diversity broadly, one risks losing talent to competitors.

Stem Cell Research Questions - 626 Words

1. What examples of learning by happy accident have you experienced in your own life? In my own life, I have been lucky enough to encounter a range of happy accidents that have helped me learn and better explore the world. For instance, as a child, I was able to understand the concept of depth by trying to cram all of my possessions into a desk drawer. I was able to understand the concept of radius and diameter when I was slicing up an apple pie for my mother. The concept of evaporation was demonstrated to me firsthand as a child in that I was too lazy to clean up a glass of water that I spilled in my room. Hours later, I found that science had cleaned it up for me. Excited, I read all about evaporation and was able to understand the principles behind the subject. 2. What do you think it means for a person (especially a scientist) to have a prepared mind, as Pasteur describes? As Pasteur describes, a prepared mind is a mind which is well educated, and which has taken the time to stud y and understand certain fundamental concepts and principles in a variety of fields. A prepared mind describes a mind that has all the foundations in place so that learning, and more importantly, real discovery, can occur. This mind has all the solid foundations in place so that exploration and chance can bless it with good fortune. 3. How can a person prepare his or her mind to be open to chance within any particular discipline? What roles might education, job experience, andShow MoreRelated Stem Cell Research Essay1316 Words   |  6 PagesStem Cell Research What is a Stem Cell? Stems cells are immature cells found in embryos that can develop into any kind of specialized cells. They can form virtually any cell of the human body. These types of stem cells are known as pluripotent cells. Multipotent cells are stem cells that are more mature; they can be found in adults and children. Multipotent cells are not as flexible as pluripotent cells, as they have already developed into more specialized human cells. Benefits of StemRead MoreStem Research On Stem Cell Research1271 Words   |  6 Pages! ! ! Stem Cells Research ! ! ! ! ! ! ! Jabaree Shipp English III NCVPS Mrs.Gallos 8, December 2014 ! ! ! ! ! ! Throughout most of our lifetime on Earth many have pondered the thought of how they and the things around them have been created. They wondered what makes grass grow to what makes themselves grow mentally and physically. Through extensive research and major advancements in technology over these years, decades, and centuries we still have no answer to our own questions. But, we do howeverRead MoreMorality And Money : Stem Cell Research990 Words   |  4 PagesMoney: Stem Cell Research In 2001, with 22 human embryonic stem cell lines established, President George W. Bush signed legislation which prevented new, additional stem cell lines from being created and tightened restrictions on federal stem cell research funding. This legislation effectively constrained human embryonic stem cell research until 2009, when President Barack Obama reversed Bush’s legislation and relaxed the funding criteria. There are now 195 human embryonic stem cell linesRead MoreResearch Essay : Stem Cell Research961 Words   |  4 PagesBiology Research Essay Erica Ford In recent years, there has been a lot more talk about stem cell research than ever before. The idea of stem cells arose in the 1960 s, with the first successful bone marrow transplant in 1968. Now, stem cell research is a widely known topic in biotechnology and shows a substantial amount of scientific promise. The future of stem cell research and the impact it could have follows with many questions on people s minds, as well the simple curiosity of whatRead MoreWhat Are Unethical About Stem Cell Research?956 Words   |  4 Pagesestablished the theory that every cell comes from a precursor cell. Maximow was deeply involved in histology, the study of plant and animal tissue. Being the first to show that blood cells come from a common precursor cell, he is given the most credit in discovering what is known as stem cells (source #7). Stem cells have the ability to change into other cells such as blood, bone, tissue, and muscle cells. Researchers are trying to better understand these fo undation cells to create cures and treatmentsRead MoreIs Stem Cell Research Ethical?1252 Words   |  6 Pages Is Stem Cell Research Ethical? The question that has been asked so many times, is stem cell research ethical? To argue ethics over this topic, one must first know what a stem cell is.Stem Cells are â€Å"cells with the ability to divide for indefinite periods in culture and to give rise to specialized cells† (Stem Cell Basics: Introduction). The National Institutes of Health say that stem cells are distinguished for two different reasons. The first is â€Å"they are unspecialized cells capable of renewingRead More Embryonic Stem Cell Research: How does it affect you? Essay1557 Words   |  7 Pages Embryonic Stem Cell Research: How does it affect you? nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Embryonic stem cell research is widely controversial in the scientific world. Issues on the ethics of Embryonic Stem (ES) cell research have created pandemonium in our society. The different views on this subject are well researched and supportive. The facts presented have the capability to support or possibly change the public’s perspective. This case study is based on facts and concernsRead MoreThe Debate Concerning Embryonic Stem Cell Research Essay1406 Words   |  6 Pagesembryonic stem cell research. The embryonic stem cell debate has polarized the country into those who argue that such research holds promises of ending a great deal of human suffering and others who condemn such research as involving the abortion of a potential human life. If any answer to the ethical debate surrounding this particular aspect of stem cell research exists, it is a hazy one at best. The question facing many scientists and policymakers involved in embryonic stem cell research is, whichRead MoreThe Controversy Of Embryonic Stem Cells1034 Words   |  5 PagesFor decades, researchers’ use of stem cells has caused a controversy and the consideration of the ethics of research involving the development, usage, and destruction of human embryos. Most commonly, this controversy focuses on embryonic stem cells. Not all stem cell research involves the creation, usage and destruction of human embryos. For example, adult stem cells, amniotic stem cells and induced pluripotent stem cells do not involve creating, using or destroying human embryos and thus areRead MoreThe Debate Over Embryonic Stem Cell Research1652 Words   |  7 PagesEmbryonic stem cell research could one day hold the key to many new scientific discoveries if it is continuously funded in the years to come. I chose to base my research around the question, Should embryonic stem cell research be government funded? When I finish highschool I hope to pursue a career in the medical field. Although I wish to become a doctor and may not be directly researching stem cells, they may one day be a treatment that I will have to administer to patients. To answer this question

Career Episode †Civil Free Essays

Career Episode 3 a) Introduction This career episode describes my working activity from September till October 2xxx. I was working as a group leader at the design of water-supply and sewerage works and networks of the FFF Bauxite Mine and of a town situated in Komi Autonomous Republic. b) Background. We will write a custom essay sample on Career Episode – Civil or any similar topic only for you Order Now After reviewing the background data I had to define water-supply sources, to calculate water consumption for domestic, industrial and fire safety purposes of the mine industrial area and the town. I also had to estimate sewage runoff and to select appropriate water and sewerage works. I had to foresee the measures devoted to environmental protection. As usual I closely collaborated with relative specialists- prospecting specialists, electrical engineers, water engineers and metallurgical specialists. For this design I carried out all the necessary calculations, developed the principal main water-supply and sewerage works schemes, water consumption and water removal balance schemes. All the calculations were carried out on a computer. While I was working on the project I took part in the negotiations with the customer, where we discussed the engineering and environmental protection problems. After completing my work I gave the explanatory note to my customer for approval. c) Personal workplace activity. For this design I studied a lot of materials which contained the information about hydrological, geological and climatic parameters of the designed industrial site area. I analysed accounts of preliminary and detailed groundwater prospecting for household water-supply. The careful study of this information made it possible for me to offer the disposition of water-intake works ( artesian wells ) not at the place recommended at the reliminary prospecting. That fact excluded the possibility of chemical and bacterial contamination of the water supply source. I carried out the calculations of water consumption for domestic, industrial and fire safety needs. On the basis of these calculations I developed the water-supply scheme. This scheme was as follows: Water from the water-intake wells is distributed by the pumps to the regulating reservoirs intended for the water collectin g before the pumping station of the second raising. The pumps at the pumping station of the second raising discharge water from the regulating reservoirs to the reservoirs where fire-proof, emergency and controlling reserve of water is kept. From the reservoirs the water flows under gravity to the circular network. I made provision for a special installation of the regulating valves with the electric drive in the wells near the tanks in order to pass the fire safety reserve of water. In this project I made an important decision regarding environmental protection. I offered to disinfect potable water at the bactericidal plants. Besides, I foresaw the reserved disinfection of water with the solution of natrium hypochlorite obtained from the solution of salt in the electrolyses. For this design we (my group under my direction) worked out the borders of sanitary protection zones for water-supply sources and water storage tanks. We kept in view the further development of our object. We also included all the sanitary steps around the zone territory according to the construction standards and rules. On the industrial areas of the mine I designed the recycling water supply systems for a diesel power station, for a crushed stone factory and for a car-washer. I estimated and selected the following works and networks of the recycling water supply systems: recycling water-supply pumping stations, water-cooling towers, car-washer sewage water treatment plants, recycling water pipe-lines. These recycling water supply systems allowed to reduce fresh water consumption. The recycling water supply systems make 92 percent of the whole mine water-supply in this design. I also calculated the following sewerage systems: household, industrially-storm and industrial ones. For the household sewerage system I estimated and selected sewerage pumping stations, domestic sewage treatment plants, sewerage networks. At the disposal works waste water passes step by step the intake chamber, the racks, the grit catchers and then enters the mixing chamber. The aluminium sulphate solution and chlorine water are fed there to improve oxidising of ammonia nitrogen. Then sewage enters the sedimentation tank, where settling takes place to separate the main part of pollutants. In order to remove residual organic pollutants and unsettled suspended matter the further sewage treatment goes on by the oxidation on the surface of the pores filter bed. Treated sewage water enters the contact chamber for the disinfection. In my explanatory note I gave the description of all the sewerage works and represented the tables of pollutants concentrations in household sewage before and after the purification. I also represented the results of the suspended matter and biological oxygen demand ( BOD ) sewage purification degree design taking into account the process of the mixing with water of the river, in which sewage is discharged after purification. Disposal works which I have selected ensure household sewage purification up to the maximum concentration limits that in turn permit to discharge sewage into basins important for fish industry. I also made provision for storm water treatment. Storm water full of black oil from the territory of lubricating materials storehouse, from a car park and garage, sewage from the repair shops enter the storm water treatment plants. Here sedimentation and purification take place on the filters. After purification storm water isn’t discharged into the basin but it is utilised in the hydraulic ash removal system of the boiler house and partly used to fill the recycling water supply systems of HPP ( heating power plant ). I also designed the second sewage utilisation for the industrial sewerage system. Sewage from the hydro-washing of the floors of crushed stone factory and of grinding-sorting factory enters the pumping station and then the sewage flows to the ash dump of HPP to fill the recycling water supply systems. In this project I had to solve the problem of the FFF bauxite mine quarry water treatment working together with the water engineer and the specialist of our institute scientific research department. I provided for the sewage treatment and the sewage discharge into the river belonging to the fish-industry basins of the extra quality, where the pollutants content was carefully controlled by the present legislation. The mine quarry water is a mixture of treated industrial water and water pumped from the mine underground roadways. The water is generally polluted by the suspended matter and the oil products. First the quarry water flows into the sedimentation tank. In the sedimentation tank the averaging of seasonal movements of water consumption and the partial suspended matter sedimentation takes place. To achieve the required purification degree I developed the process flow sheet with the reagent water treatment and the following filtration. The flow sheet includes: The suspended matter treatment in the sedimentation tank with natrium aluminate as a coagulant. Filtration. The pollutants content after the purification meets the specifications of the maximum permissible concentrations of the controlled components for fishing basins. To achieve the required purification degree I provided for the centralised control of the process, the automatic adjustment of the parameters and the analytic control of the quality of influents and effluents. To ensure reliable work and optimal sanitary-engineering conditions all the reservoirs equipment is provided by the special devices. These devices give warning signals if the limiting value is achieved. All the equipment and all the pipe-lines which are exposed to the aggressive medium acting are protected by the special corrosion proof coverage. d) Summary. In this design many tasks and problems were accomplished. They are closely connected with water-supply, water draining, sewage treatment, environmental protection of the designed object. Developing this design, I managed to apply all my knowledge and skills of a construction engineer. The design was approved and co-ordinated by the customer. How to cite Career Episode – Civil, Papers

Warning Sign Affect Injury Liability

Question: Discuss about the Warning Sign Affect Injury Liability. Answer: Introduction: A valid contract had been formed between Don and the Ports hotel. The offer and acceptance took place between them at the reception of the hotel. The consideration, under Section 3 of the contract law of Singapore, should be something that holds some value. In this situation the consideration is the rent of the hotel room. The Ports Hotel was therefore under a duty to take due care of the belongings of Don. A legal obligation was thus constituted between the parties (Woan, Koh, Ho, 2015). The strict liability principle if applied to the present case makes the hotel authorities liable for the loss which has been caused due to burglary on the premises of the hotel. There is no need to prove any fault under this principle of strict liability (Singapore Law, 2016). Don would have to prove that the valuables were lost from the premises of the hotel when he was out. Infra Hospitium is one of the common law doctrines which seek to ensure that the hotel would be strictly liable in case of any loss to the guests property. The meaning of the infra hospitium is that the property is kept under the care or charge of the person who is an innkeeper and then the liability of that person gets attached (Sherry, 1993, p.438). However, the liability of the hotel was limited to a certain extent as a reasonable notice was given. These notices were posted in each and every room. The liability of the hotel was waived off thereby. The reasonability of the notice can thus be checked by the place where it has been posted. Thus, it should be a conspicuous place from where the person for whom the notice has been given can read it. In most of the State Laws, the liability of the owner is limited and therefore it cannot be held liable for any loss occurred. However, the hotel should have complied with the statutory requirements. In the case, Fleming John C v Sealion Hot els Ltd, [1987] SLR(R) 325, it was held that the liability of the hotel is strict under the common law. The proprietor of the hotel is a person who insures the property of the guests. Therefore in case of any mishap that takes place within the hospitium, the liability dwells upon the hotel itself (Singapore Law, 2016). In a case, McCutcheon v. Mc Bryan 1 W.L.R. 125 (1964), the notion of past dealings came into light. It was thus stated that if there were past dealings between the two parties and that these were very much consistent then the exemption clause would be applicable. Also what is required is that the oter party must be very well aware of it. Thus in the present case, the hotel can take the extension. The exclusion clauses which have been incorporated by the hotel would not entitle it to waive off its responsibility under the common law as held in a case with similar facts, Olley v Marlborough Court Ltd, [1949] 1 KB 532 (Poole, 2016, p.222). The hotel cannot take any defenses as it has not met any statutory requirements of the law of Singapore. Responsibility of Ports Hotel for physical injuries sustained by Don The hotel being the occupier owed a duty of care to the person who entered in its premises. Negligence refers to when the duty to fulfill a particular obligation has not been performed or has been breached. The liability of the occupier under the law of Singapore has subsumed now to the law of negligence. Don had made a contention that the conduct of the hotel was grossly negligent. In a case , it was held that establishment of gross negligence depends on various factors(Singapore Law, 2016). The existence of the risk, the type of neglect etc. are various factors that play a pivotal role. Gross negligence should be more than a mere ordinary neglect. The Ports Hotel is not grossly negligent as the warning sign was posted at the window and Don ignored it willfully (Tikriti, 2016). The claimant, Don is the guest of the hotel is a lawful visitor and therefore the hotel owes a duty of care to him. According to the tort law of Singapore, the test has been laid down for the purpose of determining whether a duty of care arises in a given situation. Under this test, firstly the relationship between the claimant and the defendant has to be determined so as to know if there exists a duty of care (Hussain, Abdullah, 2013). Then, the nature of the damage is to be assessed. In yet another case, Caparo Industries v Dickman, [1990] UKHL 2 the principle of duty of care was elaborated. Where a relationship is characterized between the one who owes a duty to the other to whom the obligation is owed then this gives rise to neighborhood. That is how the characterization of the proximate relationship takes place between the two parties. The elements of fairness and reasonableness have to be present in order to create a valid and a legal relationship between the two. Through this case, the duty of care has been very well established but Don could have avoided the situation (Acca Global, 2015). In the present case, the hotel owed a duty of care towards Don, however, the hotel was not responsible as the warning sign had been posted at the window. Also the masking tape was placed to ensure that the damage on the window is visible. Therefore, the hotel took reasonable steps to warn people about the damaged window. The hotel would be entitled to the defenses of negligence on the part of Don. If the plaintiff who is seeking compensation is himself the wrongdoer then he would not be entitled to any damages. The equity principle comes into play in the present case. The principle says that the one who seeks equity must come with clean hands. That means the person who wants to get compensated by the other person must do equity. Therefore, it cannot claim the establishment of others fault, when the person is himself at fault (Justia, 2016). His negligence is directly related to the damage he has suffered. Thus, the amount of the damages that can be claimed would be reduced to a subst antial level. Liability assessment for Dons investment loss The most essential elements of a contract are offer and acceptance. An offer has to be placed by the offeror with an intention to be bound in case there is an acceptance by the offeree. However, there lies a vast difference between the offer and invitation to treat. Where, the former is an indication given by a person to form a contract, the latter is just a provision of some information to lure the other to enter into a contract. Under section 2 of the Contract law of Singapore, the difference between them has been stated (Tan, 2012).The difference between the offer and invitation to treat has been well illustrated by the case Fisher v. Bell, (1961) 1 QB 394. In this case, a person who was the defendant had displayed a knife in his shop. A statute had made the rule that if anybody would offer such knife would be liable for a criminal offence. It was held by the court that the displaying of knife did not tan-amount to an offer. Rather, it was just an invitation of treat. (Blogspot, 2 010). Therefore, in the current situation, an invitation to treat has been made by Tom Toh Co. The offer was thus made by Don, to invest, to which acceptance had been given by the company. Therefore, the liability of the company would be diminished. However, Tom Toh was under negligent misrepresentation. In the case, Horwad Marine and Dredging Co Ltd v A Ogden Son (Excavations) Ltd, [1978] QB 574, in which it was held that when there is fraudulent misrepresentation takes place and it sounds into damages, then the burden of proof passes on to the representative with whom negligence took place and then he is liable to show that he was not negligent and had reasonable grounds to believe the misrepresentation. Therefore, Tom Toh in this case, had no reasonable grounds to believe the misrepresentation. Regarding the liability of the auditors, the application of the law of torts has to be made. A number of recent cases have limited the exposure to the auditors liabilities. As in this case, Don is a third party and therefore the liability of the auditors would be limited to that extent. The auditors owe a duty of care to anyone who uses their accounts or perhaps relies on their reports. The auditors were liable for the fraudulent misrepresentation. In the case Derry v. Peek, [1889] 58 LJ Ch 864, fraudulent misrepresentation was explained. It was stated that if anybody makes a false misrepresentation recklessly or knowingly or carelessly then he is said to commit a fraud. It does not matter whether the person knew about the truth or not. In yet another case, Panatron Pte Ltd v Lee Cheow Lee Another ,[2001] 2 SLR(R) 43, the same as above was followed. Thus in the present case, the auditors would be liable as they had recklessly prepared the reports. They did not care about the truth of the reports and had prepared these in haste. References Accaglobal. (2015). Auditor liability. Retrieved on December 26, 2015, from https://www.accaglobal.com/: https://www.accaglobal.com/in/en/student/exam-support-resources/professional-exams-study-resources/p7/technical-articles/auditor-liability.html Blogspot, (2010). Fisher v bell [1961] 1 QB 394. Retrieved on December 2016, 2016, from https://contractlawcases.blogspot.in/: https://contractlawcases.blogspot.in/2010/04/fisher-v-bell-1961-1-qb-394.html Hussain, F., Abdullah, N.,C. (2013). Uplifting the standard of duty of care towards guests: an overview of recent developments in selected countries. Sciencedirect, 101, 488-494 Justia. (2016). Manufacturers' finance co. V. Mckey 294 U.S. 442 (1935). Retrieved on December 26, 2015, from https://supreme.justia.com/cases/federal/us/294/442/. Singaporelaw. (n.d.) Sie choon poh (trading as image galaxy) v Amara Hotel Properties Pte Ltd (no 2)[2005] 3 SLR 576; [2005] SGHC 127. Retrieved on December 2016, from https://www.singaporelaw.sg/sglaw/laws-of-singapore/case-law/free-law/high-court-judgments/12643-sie-choon-poh-trading-as-image-galaxy-v-amara-hotel-properties-pte-ltd-no-2-2005-3-slr-576-2005-sghc-127 Poole, J. (2016). Casebook on contract law. New York: Oxford University Press. 222 Quimbee.(2016). McCutcheon v. David MacBrayne LTD. Retrieved on December 26, 2016, https://www.quimbee.com/cases/mccutcheon-v-david-macbrayne-ltd Sherry, J.E. (1993). The laws of innkeepers: for hotels, motels, restaurants, and clubs. London: cornell university press. 438 Singaporelaw. (2016). Bass anne hendricks v shangri-la hotel ltd. Retrieved on December 26, 2016, from https://www.singaporelaw.sg/: https://www.singaporelaw.sg/sglaw/laws-of-singapore/case-law/free-law/high-court-judgments/14705-bass-anne-hendricks-v-shangri-la-hotel-ltd-2011-sghc-232 Singaporelaw. (2016). Ch.20 the law of negligence. Retrieved on December 26, 2016, from https://www.singaporelaw.sg/: https://www.singaporelaw.sg/sglaw/laws-of-singapore/commercial-law/chapter-20 Singaporelawwatch. (2013).Visionhealthone Corp Pte Ltd v HD Holdings Pte Ltd and others and another appeal. Retrieved on December 26, 2016, https://www.singaporelawwatch.com/slw/files/2013_SGCA_47.pdf Swarb.(2016). Derry V Peek: Hl 1 Jul 1889. Retrieved on December 26, 2016, https://swarb.co.uk/derry-v-peek-hl-1-jul-1889/ Tan, P.K. (2012). Acca f4 (sgp) : corporate and business law study text. Singapore: Saa Global Education. Tikriti, A. (2016). Does a warning sign affect injury liability for a property owner? Retrieved on December 26, 2016, from https://www.alllaw.com/: https://www.alllaw.com/articles/nolo/personal-injury/warning-sign-affect-liability-property-owner.html Webstroke. (2014). Howard Marine v Ogden [1978]. Retrieved on December 26, 2016, https://webstroke.co.uk/law/cases/howard-marine-v-ogden-1978 Woan, L.P., Koh, P., Ho, C.,T. (2015). Commercial law. Retrieved on December 26, 2016, from https://www.singaporelaw.sg/: https://www.singaporelaw.sg/sglaw/laws-of-singapore/commercial-law/chapter-8