The Marine Insurance Law - Essay Example

Seaworthiness The marine Insurance Law s that any carrier has a duty to facilitate a vessel that is capable of carrying out a voyage. This is a condition that must be fulfilled in order to avoid losses. Compensation will only be guaranteed when seaworthiness is adhered to all the times. A ship is said to be fit if it is in a condition that the owner can allow it to take a voyage. The probable future events are also put into consideration in the determination of seaworthiness (Wilson 2010, p.10). Sea worthiness is determined by the type of voyage to be made, and also the class of the vessel. Kopitoff v Wilson (1876) provides the meaning of seaworthiness. Code of ethics refers to all the values that govern the working of professionals in their area of expert. It guides them especially when faced by a problem that require decision making. The success of implementation of ethics is governed by the core values in the industry. Core values refer to the guidelines upheld by professionals in their work set up. They contribute to the morality of the society. Ethics refers to the moral good or bad of an action as viewed by the society. Societal morality is based on good ethics by the residents of that community. This essay seeks to discuss the legal aspect of understanding of seaworthiness in contracts for the carriage of goods by sea. Application of Hague Rules as amended The rules were designed to clarify on the legality of the carrier of goods. A trade union is a group or an organization of workers who come together for their common goal of solidarity. Trade unions are also formed by workers to oppose any form of exploitation by their employers at the place of work (Karan 2004). Workers also demand for better pays through their grievances to the trade unions. Trade unions also fight for better work conditions for workers in their line of operation. It is the work of a trade union to bargain with employers for the workers and also negotiate all the work contracts. The safety of workers at work place is also advocated by trade unions in their grievances to the employers. Trade unions are facing many challenges in their operations in the modern society (Davies & Dickey 1995, p.2). Leaders of these unions face very challenging moments both from the organization itself and also from outside the organization. There is also the problem with membership compositions and structures of management. Political influences also affect the running of these unions especially when they are negative political influence (Thomas 2009, p.5). Contracting States The Madeline [1967] stated about the non cancellation of charter agreement before the termination of the voyage. Personal code of ethics is what determines the moral uprightness of a person. In addition, it refers to the feelings one have on an action. It guides a person in the personal life and professional life. Based on personal code of ethics, a person judges the consequentiality and non-consequentiality theories of moral ethics (Karan 2004, p.7). Priorities in life are governed by principles of good morals. Ethics determine the morality of an individual and society at large. The most important thing in life is to have a sense of morality and well being. Corporate social responsibility is one highly researched on in the recent years (Curtis 2002, p.9). The topic is a current loom in business arenas as scholars and managers seek to improve the way corporations do business. In its simplicity, corporate social responsibility refers to a school of thought of management where corporations are persuaded to engage in their business affairs in a responsible manner. It is a call for organizations to participate in making their environmental constituents happier and better. This requires that corporations participate in a legal and a socially responsible manner. Therefore, an organization should estimate the market expectation and respond accordingly (Ryder et al, 2012). Trade unions have the role of social cohesion between the workers and employers. In the exercise of this cohesion workers are guaranteed of flow of income at the same time their rights are addressed (Curtis 2002, p.13). The working environment conditions are improved, and there is peace and social justice. Workers’ freedom and dignity are upheld through the application of better working practices. Another key area of address by trade union is social security of workers. Members of a trade union are guaranteed of social benefits once they retire from work. Democratic peace structure existing in democratic societies is a trait attributed to the growth of this theorem. Russet, for instance puts forth these democratic peace structures as the key of powers in a government system. This division is the control parameter for the existences of balances in the government system. Another scholar, John M. Owen actualizes that the structures exist for the betterment of individuals, and also in harmonizing the ruling system. All these are aimed at ensuring freedom for all individuals so as to make them feel incorporated in the system of governance (Gorton et al, 2009). The twenty first century has declared a digital world in all aspects of doing business. There is the interconnectivity of people and organizations through digital platforms (Jackson 2000, p.15). Information technology has advanced business applications for a competitive edge. Many businesses have turned social media sites as the new marketing strategies. Mobile technology has also advanced in terms of functionality and interface (Sturley et al 2010, p. 26). All these global changes are attributable to the fast entry of internet all over the world. Globalization has affected the running and management of trade unions. Also, economic crisis have an impact on the organization and running of trade unions. There is the need to re-think of the strategies of running trade unions. There is shifting from the confrontational way of management to a consultative one. Globalization also encourages collaboration and use of social dialogues to bring harmony. Outsourcing is the process of contracting out part of the business process to another company. It is an emerging issue of the twenty first century business management procedures. Business outsourcing ranges from simple production methods to outsourcing of labor factor of production. Modern business management and especially in the manufacturing sector have been involved in outsourcing of business services. This is attributed to the rising cost of production and the need for higher profits. Minimum wages refers to the least hourly pay to a person. It may also refer to the lowest pay per day for those who are paid on a daily basis, or also the least minimum monthly pay for those who are paid on a monthly basis (Thomas 2009). This matter has been on the debate among many economists some of who support it while others oppose it. It is argued that higher minimum wages are likely to raise the living standards of the employees. It is also argued that higher minimum wages lowers the poverty levels of the workers. An individual should portray a professional picture to peers at work (Meeson & Kimbell 2011, p.34). There should never be any conflict of interest. One should observe the rule of law in carrying out the duties at work. Integrity should be observed all times by all employees. This promotes the level of interaction and professionalism at work. Senior management should avoid all cases of nepotism, favouritism and undue influence in making decisions of promotions (Sturley et al 2010, p.43). World Trade organization bodies such as International Labour Organization and International Organization of Employers have created a shift in the goal posts for trade unions (Davies & Dickey 1995). All the stakeholders are brought together in one spirit of social justice and equality for all. The adage which has quite penetrated minds of business leaders and other management practitioners is the concept of shareholder wealth maximization (Jackson 2000). This old pedagogical intuition can be achieved if the corporations concentrate in agendas which would enhance the corporation performance, by increasing the profits which in turn improve the share prices of the company. The role of a business is a business; those practicing in other affairs which are non-business definitely, will lose to their competitors. In this view, the call to engage in social matters is considered a deviation from the norm of the expected business practice (Karan 2004, p.25). Fair-trade movement should be enacted as a way of rewarding all those businesses who follow the labour guidelines. From an international trade point of view, imposing the fair-trade rule is of great help and will curb the businesses from violating the labor practices. Some of the guidelines include: - the introduction of price floors in the international market to cushion businesses from the fluctuation in the prices of their commodities and also certification which ensures businesses pay the right wages to their employees. A trade theorist will argue that, prices of commodities are determined by the forces of demand and supply and even also the price for labour will also be determined by the supply of it (Chircop et al, 2009). Conclusion In conclusion, the legal aspect of understanding of seaworthiness in contracts for the carriage of goods by sea has been discussed in this paper. The marine Insurance Law states that any carrier has a duty to facilitate a vessel that is capable of carrying out a voyage. This is a condition that must be fulfilled in order to avoid losses. Compensation will only be guaranteed when seaworthiness is adhered to all the times. Code of ethics refers to all the values that govern the working of professionals in their area of expert. It guides them especially when faced by a problem that require decision making. The success of implementation of ethics is governed by the core values in the industry. Core values refer to the guidelines upheld by professionals in their work set up. They contribute to the morality of the society. Ethics refers to the moral good or bad of an action as viewed by the society. Societal morality is based on good ethics by the residents of that community. References List Chircop, A. E., Mcdorman, T. L., Rolston, S., & Johnston, D. M. (2009). The future of ocean regime-building: essays in tribute to Douglas M. Johnston. Leiden, Martinus Nijhoff Publishers. Curtis, S. (2002). The law of shipbuilding contracts. London [u.a.], LLP. Davies, M., & Dickey, A. (1995). Shipping law. Sydney, LBC Information Services. Gorton, L., Ihre, R., & Sandevärn, A. (2009). Shipbroking and chartering practice. London, Informa. Jackson, D. C. (2000). Enforcement of maritime claims. London [u.a.], LLP. Karan, H. (2004). The carriers liability under international maritime conventions: the Hague, Hague-Visby, and Hamburg rules. Lewiston (N.Y.), E. Mellen. Meeson, N., & Kimbell, J. (2011). Admiralty jurisdiction and practice. London [u.a.], LLP. Ryder, N., Griffiths, M., & Singh, L. (2012). Commercial law: principles and policy. Cambridge, New York ; Cambridge University Press. Singh, L. (2011). The law of carriage of goods by sea. Haywards Heath, West Sussex, Bloomsbury Professional. Sturley, M. F., Fujita, T., & Ziel, G. J. V. D. (2010). The Rotterdam rules: the UN Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea. London, Sweet & Maxwell. Thomas, D. R. (2009). The evolving law and practice of voyage charterparties. London, Informa Pub. Wilson, J. F. (2010). Carriage of goods by sea, Harlow, Longman. Pp.9-16. Read More