Tuesday, December 31, 2019
Great Rift Valley - Crack in the Planets Crust
The Rift Valley of eastern Africa and Asia (sometimes called the Great Rift Valley [GRV] or East African Rift system [EAR or EARS]) is an enormous geological split in the crust of the earth, thousands of kilometers long, up to 125 miles (200 kilometers) wide, and between a few hundred to thousands of meters deep. First designated as the Great Rift Valley in the late 19th century and visible from space, the valley has also been a great source of hominid fossils, most famously in Tanzanias Olduvai Gorge. Key Takeaways: Great Rift Valley The Great Rift Valley is a huge fracture in the crust of the earth in the eastern part of Africa.à Crustal rifts are found all over the world, but the one in East Africa is the largest.à The rift is a complex series of faultlines that runs from the Red Sea down into Mozambique.The Lake Turkana basin in the rift region is known as the Cradle of Mankind and has been a source of hominid fossils since the 1970s.A 2019 paper suggests that the Kenyan and Ethiopian rifts are evolving into one single oblique rift.à The Rift Valley is the result of an ancient series of faults, rifts, and volcanoes deriving from the shifting of tectonic plates at the junction between the Somalian and the African plates. Scholars recognize two branches of the GRV: the eastern halfââ¬âwhich is that piece north of Lake Victoria that runs NE/SW and meets the Red Sea; and the western halfââ¬ârunning nearly N/S from Victoria to the Zambezi river in Mozambique. The eastern branch rifts first occurred 30 million years ago, the western 12.6 million years ago. In terms of rift evolution, many parts of the Great Rift Valley are in different stages, from pre-rift in the Limpopo valley, to initial-rift stage at the Malawi rift; to typical-rift stage in the northern Tanganyika rift region; to advanced-rift stage in the Ethiopian rift region; and finally to oceanic-rift stage in the Afar range. That means the region is still quite tectonically active: see Chorowicz (2005) for much more detail concerning the ages of the different rift regions. Geography and Topography The East African Rift System stretches from the Red Sea to Mozambique. It is marked by the African Great Lakes and is currently the largest rift of the world. S. Brune; Kartengrundlage: Nasa-World-Wind The Eastern African Rift Valley is a long valley flanked by uplifted shoulders that step down to the central rift by more or less parallel faults. The main valley is classed as a continental rift, extending from 12 degrees north to 15 degrees south of our planetsââ¬â¹ equator. It extends a length of 3,500 kmà and intersects major portions of the modern countries of Eritrea, Ethiopia, Somalia, Kenya, Uganda, Tanzania, Malawi, and Mozambique and minor portions of others. The width of the valley varies between 30 km to 200 km (20-125 mi), with the widest section at the northern end where it links to the Red Sea in the Afar region of Ethiopia. The depth of the valley varies across eastern Africa, but for most of its length it is more than 1 km (3280 feet) deep and at its deepest, in Ethiopia, it is over 3 km (9,800 ft) deep. The topographical steepness of its shoulders and the depth of the valley have created specialized microclimates and hydrology within its walls. Most rivers are short and small within the valley, but a few follow the rifts for hundreds of kilometers, discharging into deep lake basins. The valley acts as a north-south corridor for the migration of animals and birdsà and inhibits east/west movements. When glaciers dominated most of Europe and Asia during the Pleistocene, the rift lake basins were havens for animals and plant life, including early hominins. History of the Rift Valley Studies Following on the mid- to late-19th-century work of dozens of explorers including the famous David Livingstone, the concept of an East African rift fracture was established by Austrian geologist Eduard Suess, and named the Great Rift Valley of East Africa in 1896 by British geologist John Walter Gregory. In 1921, Gregory described the GRV as a system of graben basins which included the valleys of the Red and Dead Seas in western Asia, as the Afro-Arabian rift system. Gregorys interpretation of the GRV formation was that two faults had opened up and a central piece dropped down forming the valley (called a graben). Since Gregorys investigations, scholars have re-interpreted the rift as the result of multiple graben faults organized over a major fault line at the plate juncture. The faults occurred in time from the Paleozoic to Quaternary eras, a time span of some 500 million years. In many areas, there have been repeated rifting events, including at least seven phases of rifting over the past 200 million years. Paleontology in the Rift Valley In the 1970s, paleontologist Richard Leakey designated the East African Rift region as the Cradle of Mankind, and there is no doubt that the earliest hominidsââ¬âmembers of the Homo speciesââ¬âarose within its boundaries. Why that happened is a matter of conjecture, but may have something to do with the steep valley walls and microclimates created within them. The interior of the rift valley was isolated from the rest of Africa during the Pleistocene ice ageà and sheltered freshwater lakes located in savannahs. As with other animals, our early ancestors may have found refuge there when the ice covered much of the planet and then evolved as hominids within its tall shoulders. An interesting study on the genetics of frog species by Freilich and colleagues showed that the valleys micro-climates and topography are at least, in this case, a biogeographic barrier that resulted in the splitting of the species into two separate gene pools. It is the eastern branch (much of Kenya and Ethiopia) where much of the paleontological work has identified hominids. Beginning about 2 million years ago, barriers in the eastern branch eroded away, a time which is coeval (as much as that clock can be called co-eval) with the spread of Homo species outside of Africa. Rift Evolution Analysis of the rift reported by German geologist Sascha Brune and colleagues in March 2019 (Corti et al. 2019) suggests that although the rift began as two overlapping disconnected rifts (Ethiopian and Kenyan), the lateral offset that lies in the Turkana depression has evolved and continues to evolve into a single oblique rift.à In March of 2018, a great crack measuring 50 feet wide and miles long opened up in the Suswa area of southwestern Kenya. Scientists believe the cause was not a sudden recent shift of the tectonic plates, but rather the abrupt erosion to the surface of a long-standing subsurface crack that developed over thousands of years. Recent heavy rains caused the soil to collapse over the crack, exposing it to the surface, rather like a sinkhole.à à Selected Sources Blinkhorn, J., and M. Grove. The Structure of the Middle Stone Age of Eastern Africa. Quaternary Science Reviews 195 (2018): 1ââ¬â20. Print.Chorowicz, Jean. The East African Rift System. Journal of African Earth Sciences 43.1ââ¬â3 (2005): 379ââ¬â410. Print.Corti, Giacomo, et al. Aborted Propagation of the Ethiopian Rift Caused by Linkage with the Kenyan Rift. Nature Communications 10.1 (2019): 1309. Print.Deino, Alan L., et al. Chronology of the Acheulean to Middle Stone Age Transition in Eastern Africa. Science 360.6384 (2018): 95ââ¬â98. Print.Freilich, Xenia, et al. Comparative Phylogeography of Ethiopian Anurans: Impact of the Great Rift Valley and Pleistocene Climate Change. BMC Evolutionary Biology 16.1 (2016): 206. Print.Frostick, L. Africa: Rift Valley. Encyclopedia of Geology. Eds. Cocks, L. Robin M. and Ian R. Plimer. Oxford: Elsevier, 2005. 26ââ¬â34. Print.Sahnouni, Mohamed, et al. 1.9-Million- and 2.4-Million-Year-Old Artifacts and Stone Tool-Cutmarked Bones from Ain Boucherit, Algeria. Science 362.6420 (2018): 1297ââ¬â301. Print.Simon, Brendan, et al. Deformation and Sedimentary Evolution of the Lake Albert Rift (Uganda, East African Rift System). Marine and Petroleum Geology 86 (2017): 17ââ¬â37. Print.
Monday, December 23, 2019
William Shakespeare s Macbeth And Fyodor Dostoevsky s...
Joanne Marius World Humanities Professor Bonaparte 17 December 2014 Similar Actions... Different Outcomes Many novels throughout the world have been known to hold insight on many life decisions. It is common to read about how positive actions have positive outcomes. Some however, give insight to negative outcomes from negative actions. Yet, how is it that some people are able to overcome these outcomes from their decisions? It does not come without hardships that affect the person mentally. Two famous narratives of literature in particular are William Shakespeareââ¬â¢s play Macbeth and Fyodor Dostoevskyââ¬â¢s novel Crime and Punishment. Both works are allegorically similar in that the situations and struggles of the protagonists have complex ways of following a decision that has lead to distinctly different outcomes. However, both narratives are also vastly different in nature. Some similarities between the two works of literature are the recurring themes of good and evil, guilt, motive, and ambition. Through an in depth understanding of the context surrounding what lead to the pr otagonists murders in both stories, and the actions that each protagonist upholds, it will be easier to understand how Macbeth ultimately destroys his life in the end of the play and how Raskonikov starts his redemption at the end of the story due to the many factors that lead them to their distinctly different outcomes. Macbeth is about how one man, who appears to be a loyal and honorable person in
Sunday, December 15, 2019
MBA Admissions Essays Free Essays
Essay # 1 List one of your most significant professional or organizational accomplishments. Describe your precise role in this event and how it has helped to shape your management skills. I started out initially as a technical support representative for a Stage Software Inc. We will write a custom essay sample on MBA Admissions Essays or any similar topic only for you Order Now in 2003 for a period of six months while presently I am associated with McKing Consulting Corporation. However for a period of two years I was associated with SunTrust Bank, where I started out as a Staff Accountant level one and in a yearââ¬â¢s time was promoted to the next level this was based on outstanding job performance and proposal. In addition during the initially stage I was one of the team members who was responsible for relocation and change of the accounting system of an acquired bank into SunTrustââ¬â¢s accounting system. (Listed as Significant Achievement in the Resume) In the beginning of my last year with the bank, SunTrust finance organization experienced some specific changes in various departments. This was done to realign its objectives to achieve strategic vision of the Bank. Consequently, my departmentââ¬â¢s operations were altered the Controllers to Finance operations. Prior to the changes the monthly financial closing constituted s cross-functional departments, ââ¬â my department was also a part of this financial closing. Following were some of the problems which existed in the past: For each financial closing a significant challenge was that most of the time some of the more important processes which were crucial for month end close were missed or delayed. Communication between team members was either limited or non-existent There was no system in place for a smooth flow of process. Understanding the need to restructure the month end process, I rose to the challenge by taking the idea of synchronizing the month end close. As I was not very familiar with the different processes, my inexperience was one of the major impediments. I succeeded in coming up with a task plan to achieve the goals. Initially I set up a meeting with the related teams and managers who were involved to get familiar with the different month end actions that needed to be processed. From the information received at the meeting I was able to draft a month end schedule, which detailed a list of responsibilities and prioritized the orders. This was presented for productive criticisms and reaction. It was accepted by the teams and the managers and after its implementation there was a remarkable improvement in the month end process. This experience taught me the importance of working as a team and the importance of communication and coordinationââ¬âa skill which is essential for business leaders and managers.à In addition the significance of organization and time management through prioritization to achieve objectives became very clear. This was my first experience as a leader as I initiated the change to create a more efficient set-up. The opportunity gave me an insight into the organizational processes. Although at a very basic level however this initiative showed me as a leader and strengthen my professional growth however it was not enough as there is a need to further strengthen and polish the skills I have and MBA degree would he helpful in these respects. I am confident that my MBA experience will provide me with ample opportunities to demonstrate my leadership skills and also learn from future leaders. Essay # 2 Of Goizueta`s core values (courage, integrity, accountability, rigor, diversity, team, community), which value resonates most with you and why? 1 page Courage is the something which I believe is a very important part of my personality and life.à Almost 8 years back when I left Nigeria leaving behind family and friends I was not sure what it would be like in the United States and the people and the environment was completely alien for me. However it was my determination and my courage which made me carry on in spite of all the adversities. I was determined to be successful in my life and through perseverance and concerted effort I was able to assimilate in the new society. Initially it was very depressing as I was all alone and had no one to turn to and I realized that if I kept on pondering about it I would have to return. For this I formed a plan to succeed and I went started implementing it. I found a group of immigrants from Nigeria ââ¬âthis group provided a sense of support to carry on and eventually I was able to familiarize myself with the surroundings. Another thing I realized was to be financially independent. In Nigeria it was the parentââ¬â¢s responsibility to put children through school however here I had to get and education and support myself at the same time. With careful research, I realized that I would be able to secure financial aid and apply for scholarship to pay for school. The immigration experience has in reality strengthened my character different ways and this strength would be helpful both for my career and my personal life. Though it may sound clichà ©d, but courage in the face of adversity inadvertently leads to success. Through this experience I also learned to value and be sensitive to other cultures and to enrich others with mine. I also discovered myself, a thing that would not have happened if I had not been exposed to this kind of experience. I was brave and I had a vision of my future, my resilience and optimism have paved the way for success. Essay # 3 Of Goizueta`s core values (courage, integrity, accountability, rigor, diversity, team, community), which value resonates most with you and why? 1 page Courage is the something which I believe is a very important part of my personality and life.à Almost 8 years back when I left Nigeria leaving behind family and friends I was not sure what it would be like in the United States and the people and the environment was completely alien for me. However it was my determination and my courage which made me carry on in spite of all the adversities. I was determined to be successful in my life and through perseverance and concerted effort I was able to assimilate in the new society. Initially it was very depressing as I was all alone and had no one to turn to and I realized that if I kept on pondering about it I would have to return. For this I formed a plan to succeed and I went started implementing it. I found a group of immigrants from Nigeria ââ¬âthis group provided a sense of support to carry on and eventually I was able to familiarize myself with the surroundings. Another thing I realized was to be financially independent. In Nigeria it was the parentââ¬â¢s responsibility to put children through school however here I had to get and education and support myself at the same time. With careful research, I realized that I would be able to secure financial aid and apply for scholarship to pay for school. The immigration experience has in reality strengthened my character different ways and this strength would be helpful both for my career and my personal life. Though it may sound clichà ©d, but courage in the face of adversity inadvertently leads to success. Through this experience I also learned to value and be sensitive to other cultures and to enrich others with mine. I also discovered myself, a thing that would not have happened if I had not been exposed to this kind of experience. I was brave and I had a vision of my future, my resilience and optimism have paved the way for success. Essay # 4 What do you expect to accomplish in the Goizueta Business School MBA program? How will your participation in the MBA program fit in with your experiences and responsibilities as well as your short and long-term career goals? My life and the experiences since 1998 have been anything but normal. Emigrating from Nigeria was the first important landmark in my life. However, when I graduated from Georgia State University with a major in Accounting and Computer Information Systems I realized that in fact my BBA Cum Laude was the first goal in procession goals I had lined up. After my graduation my past four years experience in different organizations mentioned in the resume have helped me gain the knowledge and experience I feel was necessary to start my MBA degree which I regard as the final step before seriously starting a career. Even as my professional experiences have facilitated me to develop strong skills in Accounting with the application of technology, I believe that at this point my career objective is to evolve into corporate finance by channeling my experience and developing further my knowledge of finance. I am convinced that an MBA with concentration in finance coupled with my professional familiarity will be an important asset creating a path to achieve my career goals. My short-term goal is to obtain a job related to Corporate Finance in a Fortune 500 company or to enter corporate finance practice of a consulting firm. This goal has been formed because of my experience working as a second level accountant in the Controllersââ¬â¢ division of SunTrust bank. My experience at SunTrust has given me the experience needed to understand the dynamics of finance and operational activities through the various accounting assignments I participated in. My long term objectives are strategic objectives based on the short term ones, because my ultimate goal ââ¬â after gaining extensive knowledge and experienceââ¬âis to form a financial advisory services firm that will cater to the needs of small to mid-size companies by helping organizations with raising capital, and ground-breaking financial planning solutions that will improve financial performance and value of business. An MBA from Emory University is necessary because will provide the additional knowledge base that are vital to fulfill the different short term and long term career goals. What particularly interests me is Gozuietaââ¬â¢s commitment to leadership development through the plus programs and extracurricular activities which would give ample opportunity for me to further improve and enhance my leadership skills.à Also, Goizuetaââ¬â¢s flexible program will not only help polish my skills in other fundamental functional business areas but will also allow me to modify my selection of courses according to detailed career interests. Most importantly, my visit to Emory University was both informative and inspirational I was able to obtain more information about the structure of the program. In addition, it gave me the chance to interact with alumni, current MBA students and a faculty member. I it was very beneficial listening to their first hand experiences and also learn about the close-knit community at Goizueta. This I believe is very significant as it allows the fostering of meaningful relationships. Overall, I was really impressed with the talent and diversity of the students this has certainly strengthened my resolve to be a part of Goizueta business school. If given an opportunity I assure you that I would contribute through my hard work and experiences to the classroom and more importantly gain knowledge and an understanding of the corporate world. How to cite MBA Admissions Essays, Essays
Saturday, December 7, 2019
The Smallest Difference free essay sample
During the summer of 2010, I spent a lot of my time working at baseball camps for Americaââ¬â¢s Game Baseball Facility. I was a staff member there, and I got the chance to teach the game of baseball to young children. There were two groups of kids that I worked with, the first group was ages 6-9, and the second group was ages 9-11. The camps were each a week in length, and there were five different sessions, so I had the opportunity to work with a lot of different kids. However, there was one youngster that stood out to me. He was a seven year old boy by the name of Kevin, and he was a little different from most of the other kids at the camp. Kevin was small for his age, he was not the most skilled player, and he was somewhat of an outcast of the group. We will write a custom essay sample on The Smallest Difference or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Kevin did not seem to have much confidence in himself when he arrived at the camp, which I believe caused him to hold back and not play to the best of his ability. Day after day, I worked with the kids, paying special attention to Kevin; not necessarily focusing on improving his swing or correcting his throwing motion, but more so on simply talking and getting to know him a little bit more every day. Slowly, but surely, I noticed him starting to gain confidence in himself while he was amongst his peers, and after the first couple days Kevin started feeling more comfortable around me as well. He would come sit next to me on our lunch break and engage in conversation as if we had known each other for years. Often we would not even discuss baseball; we would talk about whatever Kevin could think of; his siblings for example, or what television shows he enjoyed watching. Just as I had thought, the more Kevin talked and gained confidence, the better he would do in the physical aspect of the game. By the end of the week, Kevin was no longer the shy, self-conscious kid that I had seen on the first day. He had come such a long way in every sense; he had made new friends and improved his baseball skills tremendously. On the last day of camp when parents were coming to pick up their children, Kevin ran up to me and gave me a hug. With a big smile on his face, he said ââ¬Å"Thank you, Coach Adamâ⬠. This is one moment that I will never forget for as long as I am a coach. It is a great feeling to know that you personally made even the smallest difference in a young kidââ¬â¢s life, even if it is something as insignificant as teaching the game of baseball. It did not show up on any score card or stat sheet, but helping Kevin was a personal home run for me; one that I would not trade for anything.
Friday, November 29, 2019
The Brain Essay Essays - Emerging Technologies, Brain,
The Brain Essay The human body is divided into many different parts called organs. An organ called the brain, is the center of the nervous system and it is the center of all voluntary and involuntary activities. It is also responsible for other complexities such as thought, language, and emotion. The brain weighs merely three pounds in an adult but it contains thousands of millions of nerve cells that make up the nervous system. For years scientists have been studying the enigmas of the brain and still today, there are many aspects of the brain that remain a mystery. In order to comprehend the brain, it's necessary to understand the protection it has from injuries. It's also imperative to discover medical advances through tests and analysis to treat devastating neurological diseases. Twenty-eight bones make up the skull. Eight of these bones are interlocking plates. These plates form the cranium. The cranium provides maximum protection for the brain while the other twenty bones make up the face. Another way the brain is kept safe is by keeping itself in liquid. Nearly one fifth of the blood pumped by the heart is sent to the brain. The brain then sends the blood through an intricate network of blood vessels to where the blood is needed. Specialized blood vessels produce a protective fluid. This fluid is what the brain literally floats in. A third protective measure taken by the brain is called the blood brain barrier. This barrier consists of a network of unique capillaries. These capillaries are filters for harmful chemicals carried by the blood, but do allow oxygen, water, and glucose to enter the brain. By understanding the nature in which the brain is kept, a person can assume that it is the most important organ in the body. A person can then learn how to treat brain juries and many neurological diseases. Today, many experiments are being conducted that may be medical advances for the future. For instance, brain grafting is one procedure that may be used in the future. Brain grafting is transplanting a very thin layer of brain skin from one person to another. This would result in the treatment of Parkinson's disease and other seizure related disorders. Another radical idea that has already been successfully been tried on rhesus monkey's is, total body transplants. This would allow someone with total body cancer to live with another body. However, the spine can't be reattached and scientists are pondering ways on how to spark cell growth in the spinal column to grow back in the broken area of the spine. The ethics and legal problems for such a transplant would probably never let this operation be performed on humans. This is because the person would not be the same. The last idea of the future is called artificial seeing. Artificial seeing is achieved by planting small electrodes in fr ont of the visual cortex of the brain. The electrodes are connected to a small camera that is some where on the person's ear. A computer is attached to the camera. The computer sends the images from the camera directly to the implanted electrodes. They flash as the picture from the camera, thus enabling the person to see. But as of yet this procedure is not practical because of the size of the computer, and because of the cost of the package. After all of the work and research that we have done it is very evident to us that the brain is one of the most wondrous organs that humans could have. It guides us through almost every second of our life. Even after exploring the world and the universe, the brain has never ceased to amaze people, and probably never will. Science
Monday, November 25, 2019
Analog vs. Digital
Analog vs. Digital Analog vs. Digital Analog vs. Digital By Mark Nichol Whatââ¬â¢s the difference between analog and digital, and why is the latter word, which originally referred to fingers, now the antithesis of ââ¬Å"hands-onâ⬠? An analog is something related to physical quantities (hence the name; analog comes from a Greek word meaning ââ¬Å"proportionâ⬠): An analog clock, for example, shows the passage of time by measuring it with a ââ¬Å"handâ⬠that pivots on a central axis, while a measuring tape represents the length of a tangible phenomenon such as a roomââ¬â¢s dimensions. By contrast, digital refers to a deviceââ¬â¢s reading of binary units, zeros and ones, to perform functions and to the storage of information as binary units rather than an analog recording medium such as magnetic ribbon. Ironically, however, digit stems from the Latin term digitus, meaning ââ¬Å"fingerâ⬠or ââ¬Å"toe.â⬠The path from appendages to algorithms involves the use of fingers to count, thus the extension of the definition of digit to ââ¬Å"number below ten.â⬠The use of zeros and tens as the basis of the on-off duality of binary computer systems led the technology to be referred to as digital technology. Indeed, the word bit, referring to the basic unit of digital information, is a contraction of the phrase ââ¬Å"binary digit.â⬠The adjective digital now refers both to something done or having to do with fingers (for example, ââ¬Å"digital manipulationâ⬠) and something related to digitally rendered numbers, or to computerized data or to electronics. Two other terms with the same root word are digitalis, referring to a plant popularly known as the foxglove and to a medicine extracted from it, and prestidigitation, a sesquipedalian synonym for magic. Digitalis is a Latinized form of the German word fingerhut (ââ¬Å"thimbleâ⬠), because of the resemblance of the plantââ¬â¢s flowers to the sewing implement. Prestidigitation, meanwhile, is another Latin-looking invention influenced by prestige, which comes from the Latin word praestigiae, ââ¬Å"jugglerââ¬â¢s tricks.â⬠(Prestige acquired a laudatory meaning and connotation only in the early twentieth century.) Itââ¬â¢s a combination of the Italian word presto and digit hence, ââ¬Å"quick fingers.â⬠Analog, meanwhile, calls to mind its full-form predecessor analogue (which spelling for the adjectival form is also preferred in British English), which means ââ¬Å"something similar.â⬠An analogy is also a similarity, or it can refer to a correspondence or to another form of comparison. Analogous is the adjectival form. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:25 Subordinating ConjunctionsDifference between "Pressing" and "Ironing"Wood vs. Wooden
Friday, November 22, 2019
Contract Law Exam Practice Essays Essay Example | Topics and Well Written Essays - 1250 words
Contract Law Exam Practice Essays - Essay Example In the case of Trident, an attempt was made to alter the Privity Clause around trust principles and did not succeed because it was only obiter dicta. The doctrine of Privity does not allow a third party such as a consumer for example, to sue a manufacturer who has produced defective goods ââ¬â classified as vertical privity ââ¬â or indeed sue a retailer who has sold him faulty goods via a friend who has purchased the product for him - this is a case of horizontal privity. This places the consumer at a great disadvantage, especially if the retailer has gone out of business and is unable to compensate for the defective goods - he cannot sue the manufacturer unless he can establish a collateral contractual relationship, which is possible only in rare cases (Carlill vs. Carbolic Smoke). Generally, the consumer would be considered a third party to the contract between the manufacturer and retailer and therefore deprived of any rights. Modern day transactions are rarely linear in nature. Financial and commercial transactions involve several parties and the Doctrine of Privity makes no allowance for the ramifications of multiple secondary and tertiary parties involved in contracts. But the Doctrine of Privity remains strong in Australian law and is a contentious issue, impeding recoveries from third parties. This is especially so in the case of subordinated debts, where the implementation of the ââ¬Å"security cushionâ⬠provided by a senior creditor is impeded by the Privity Doctrine. Common law principles such as promissory estoppel offer scope for development in favor of third parties (Walton Stores vs. Maher). The introduction of Section 563c into the Corporations Law of 2001 has been ineffective in the face of the Doctrine of privity and further reform is necessary. In Queensland, some statutory modifications have been carried out to the Privity Principle at Section 55 of the
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