The pros and cons of university ranking Essay Example | Topics and Well Written Essays - 1000 words - 1

The pros and cons of university ranking - Essay Example Ranking is aimed at evaluating the quality of education offered at institutions of higher learning often based on research produced by the institutions. This evaluation is relative; however, as quality will be perceived differently and as such, there cannot be fixed criteria (Almegren 14). Recently, there has been mounting attentiveness to ranking systems and great criticism of existing rankings. The problem with the existing rankings is that they do not include universities and higher learning institutions from various parts of the world. This has become necessary, as governments of many countries have reiterated the significance of quality in research and higher education, and linking economic growth, innovation and research. Moreover, higher education and research institutions are competing for funding and the best students and researchers, at national and international levels (Almegren 14). Among the primary benefits of rankings, is that they allow students to make well-versed decisions. When a potential student is choosing which university to join, they will need to have specific information pertinent to their desires and wishes. This will enable a choice that will suit their needs and preferences concerning both academics and extracurricular activities. The precedent is determined using outcome that is, performance of students after university, number of professors available to students where the number of research papers and articles published factors into their competence and facilities and amenities within a university. Besides that, rankings have been advocated for because they foster healthy, spirited competition among institutions of higher learning. This is because of the simple fact that every institution will want to be ranked high as this builds a positive reputation (â€Å"QS World Universities Rankings†). Notably also, rankings are supported as they offer institutions of higher learning an opportunity to improve

A key issue for the courts when deciding on the legal status of a Essay

A key issue for the courts when deciding on the legal status of a comfort letter is whether or not the party proffering the comfort letter intended to create legal relations - Essay Example Comfort letters are common in loan agreements, as an alternative from asking the lender to obtain a guarantor for the loan. In order for a claimant to be able to rely on the letter of comfort as a guarantee of payment, the claimant has to prove that the person issuing the letter intended to create legal relations between themselves and the claimant. According to Ellinger (1989) comfort letters can be identified into 3 specific types, and can include undertakings from a parent company to meet the financial commitments of the subsidiary company. Less stringent comfort letters identify that the parent company knows of the intention of the subsidiary company to enter into a contract with the other party, but makes no express guarantee to honour the agreement of the subsidiary or to actively intervene to ensure that the subsidiary company fulfils the contract. These letters can have legal effect despite the fact that they cannot be relied upon as a guarantee that the party will fulfil their part of the contract. One of the first cases to consider the effect of comfort letters was Banque Brussels Lambert S A v Australian National Industries Ltd1 in which the defendant averred that the letter should not be regarded as a binding contract. In this case, the bank insisted on a letter of comfort as a condition of the loan agreement between the parties. The bank had originally tried to force the defendant to guarantee the payments on the loan, which the defendant had refused to do. The claimant attempted to aver that the letter of comfort contained promissory paragraphs with regard to the conduct of the defendant and that the defendant had breached these promises. One such paragraph stated We take this opportunity to confirm that it is our practice to ensure that our affiliate [the borrower] will at all times be in a position to meet its financial obligations as they fall due. These