|
Tontine Association
A tontine () is an investment linked to a living person which provides an income for as long as that person is alive. Such schemes originated as plans for governments to raise capital in the 17th century and became relatively widespread in the 18th and 19th centuries. Tontines enable subscribers to share the risk of living a long life by combining features of a group annuity with a kind of mortality lottery. Each subscriber pays a sum into a trust and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the final member, the trust scheme is usually wound up. Tontines are still common in France. They can be issued by European insurers under the Directive 2002/83/EC of the European Parliament. The Pan-European Pension Regulation passed by the European Commission in 2019 also contains provisions that specifically permit next-generation pension produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tontine Hotel Sign, Ironbridge, UK
A tontine () is an investment linked to a living person which provides an income for as long as that person is alive. Such schemes originated as plans for governments to raise capital in the 17th century and became relatively widespread in the 18th and 19th centuries. Tontines enable subscribers to share the risk of living a long life by combining features of a group annuity with a kind of mortality lottery. Each subscriber pays a sum into a trust and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the final member, the trust scheme is usually wound up. Tontines are still common in France. They can be issued by European insurers under the Directive 2002/83/EC of the European Parliament. The Pan-European Pension Regulation passed by the European Commission in 2019 also contains provisions that specifically permit next-generation pension produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Method Patent
Business method patents are a class of patents which disclose and claim new methods of doing business. This includes new types of e-commerce, insurance, banking and tax compliance etc. Business method patents are a relatively new species of patent and there have been several reviews investigating the appropriateness of patenting business methods. Nonetheless, they have become important assets for both independent inventors and major corporations. Background In general, inventions are eligible for patent protection if they pass the tests of patentability: patentable subject matter, novelty, inventive step or non-obviousness, and industrial applicability (or utility). A business method may be defined as "a method of operating any aspect of an economic enterprise". History France On January 7, 1791, France passed a patent law that stated that "Any new discovery or invention, in all types of industry, is owned by its author...". Inventors paid a fee depending upon the desired ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bath, Somerset
Bath () is a city in the Bath and North East Somerset unitary area in the county of Somerset, England, known for and named after its Roman-built baths. At the 2021 Census, the population was 101,557. Bath is in the valley of the River Avon, west of London and southeast of Bristol. The city became a World Heritage Site in 1987, and was later added to the transnational World Heritage Site known as the "Great Spa Towns of Europe" in 2021. Bath is also the largest city and settlement in Somerset. The city became a spa with the Latin name ' ("the waters of Sulis") 60 AD when the Romans built baths and a temple in the valley of the River Avon, although hot springs were known even before then. Bath Abbey was founded in the 7th century and became a religious centre; the building was rebuilt in the 12th and 16th centuries. In the 17th century, claims were made for the curative properties of water from the springs, and Bath became popular as a spa town in the Georgian era. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bath Assembly Rooms
The Bath Assembly Rooms, designed by John Wood the Younger in 1769, are a set of assembly rooms located in the heart of the World Heritage City of Bath in England which are now open to the public as a visitor attraction. They are designated as a Grade I listed building. During the Georgian era Bath became fashionable, and the architects John Wood, the Elder, and his son laid out new areas of housing for residents and visitors. Assembly rooms had been built early in the 18th century, but a new venue for balls, concerts and gambling was envisaged in the area between Queen Square, The Circus and the Royal Crescent. Robert Adam submitted a proposal that was rejected as too expensive. John Wood, the Younger raised funding through a tontine, and construction started in 1769. The new or upper assembly rooms opened with a grand ball in 1771 and became the hub of fashionable society, being frequented by Jane Austen and Charles Dickens, along with the nobility of the time. The bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Works
Public works are a broad category of infrastructure projects, financed and constructed by the government, for recreational, employment, and health and safety uses in the greater community. They include public buildings ( municipal buildings, schools, and hospitals), transport infrastructure (roads, railroads, bridges, pipelines, canals, ports, and airports), public spaces (public squares, parks, and beaches), public services (water supply and treatment, sewage treatment, electrical grid, and dams), and other, usually long-term, physical assets and facilities. Though often interchangeable with public infrastructure and public capital, public works does not necessarily carry an economic component, thereby being a broader term. Public works has been encouraged since antiquity. For example, the Roman emperor Nero encouraged the construction of various infrastructure projects during widespread deflation. Overview Public works is a multi-dimensional concept in economics and poli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tontine Coffee House
The Tontine Coffee House was a coffeehouse in Manhattan, New York City, established in early 1793. Situated at 82 Wall Street, on the north-west corner of Water Street,Nathans, p. 133 it was built by a group of stockbrokers to serve as a meeting place for trade and correspondence. It was organized as a tontine, a type of investment plan, and funded by the sale of 203 shares of £200 each. The May 17, 1792, creation of the Buttonwood Agreement, which bound its signatories to trade only with each other, effectively gave rise to a new organization of tradespeople.Sobel, p. 21 History In its prime, the Tontine was among New York City's busiest centers for the buying and selling of stocks and other wares, for business dealings and discussion, and for political transaction.Antol, p. 53 Having had a dual function as a combination club and a meeting room, the coffee house played host to auctions, banquets, and balls, among others. After hours, gambling and securities dealings were tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
England
England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe by the North Sea to the east and the English Channel to the south. The country covers five-eighths of the island of Great Britain, which lies in the North Atlantic, and includes over 100 smaller islands, such as the Isles of Scilly and the Isle of Wight. The area now called England was first inhabited by modern humans during the Upper Paleolithic period, but takes its name from the Angles, a Germanic tribe deriving its name from the Anglia peninsula, who settled during the 5th and 6th centuries. England became a unified state in the 10th century and has had a significant cultural and legal impact on the wider world since the Age of Discovery, which began during the 15th century. The English language, the Anglican Church, and Engli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foss V Harbottle
''Foss v Harbottle'' (1843) 2 Hare 46167 ER 189is a leading English precedent in corporate law. In any action in which a wrong is alleged to have been done to a company, the proper claimant is the company itself. This is known as "the proper plaintiff rule", and the several important exceptions that have been developed are often described as "exceptions to the rule in ''Foss v Harbottle''". Amongst these is the "derivative action", which allows a minority shareholder to bring a claim on behalf of the company. This applies in situations of "wrongdoer control" and is, in reality, the only true exception to the rule. The rule in ''Foss v Harbottle'' is best seen as the starting point for minority shareholder remedies. The rule has now largely been partly codified and displaced in the United Kingdom by the Companies Act 2006 sections 260–263, setting out a statutory derivative claim. Facts Richard Foss and Edward Starkie Turton were two minority shareholders in the "Victoria Par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Called ''retirement plans' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Penny Policy
A penny is a coin ( pennies) or a unit of currency (pl. pence) in various countries. Borrowed from the Carolingian denarius (hence its former abbreviation d.), it is usually the smallest denomination within a currency system. Presently, it is the formal name of the British penny ( p) and the ''de facto'' name of the American one-cent coin (abbr. ¢) as well as the informal Irish designation of the 1 cent euro coin (abbr. c). It is the informal name of the cent unit of account in Canada, although one-cent coins are no longer minted there. The name is used in reference to various historical currencies, also derived from the Carolingian system, such as the French denier and the German pfennig. It may also be informally used to refer to any similar smallest-denomination coin, such as the euro cent or Chinese fen. The Carolingian penny was originally a 0.940-fine silver coin, weighing pound. It was adopted by Offa of Mercia and other English kings and remained t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gaming The System
Gaming the system (also rigging, abusing, cheating, milking, playing, working, or breaking the system, or gaming or bending the rules) can be defined as using the rules and procedures meant to protect a system to, instead, Psychological manipulation, manipulate the system for a desired outcome. According to James Rieley, a British advisor to CEOs and an author, structures in companies and organizations (both explicit and implicit policies and procedures, stated goals, and mental models) drive behaviors that are detrimental to long-term organizational success and stifle competition. For some, error is the essence of gaming the system, in which a gap in protocol allows for errant practices that lead to unintended results. Although the term generally carries negative connotations, gaming the system can be used for benign purposes in the undermining and dismantling of corrupt or oppressive organisations. History The first known documented use of the term "gaming the system" is in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Longevity
The word " longevity" is sometimes used as a synonym for "life expectancy" in demography. However, the term ''longevity'' is sometimes meant to refer only to especially long-lived members of a population, whereas ''life expectancy'' is always defined statistically as the average number of years remaining at a given age. For example, a population's life expectancy at birth is the same as the average age at death for all people born in the same year (in the case of cohorts). Longevity is best thought of as a term for general audiences meaning 'typical length of life' and specific statistical definitions should be clarified when necessary. Reflections on longevity have usually gone beyond acknowledging the brevity of human life and have included thinking about methods to extend life. Longevity has been a topic not only for the scientific community but also for writers of travel, science fiction, and utopia A utopia ( ) typically describes an imaginary community or society that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Penny Policy")
