2012 contracts slides ch 5

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    Mustaefr pdys$4>>>

    @uty + Mak`ctcak

    (^raecssary

    mak`ctcak)

    Bausf jurks Cks. Ma. pdys$4>>,>>>

    (Ar`ckdry

    mak`ctcak)

    @uty (praecsf)Mak`ctcak

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    ]aur Lrdpfs.

    d) Efrrctt Bchhs sbauh` rfmavfr cts `fpasct dk` dky pravdjhf `dedlfs suiifrf`.

    j) Efrrctt Bchhs sbauh` rfmavfr cts `fpasct jut kat `dedlfs.

    m) \ck`y Bchhs sbauh` jf fktcthf` ta offp tbf `fpasct jut eust pdy Efrrctt Bchhsdky `dedlfs ct mdk pravf tbdt ct suiifrf`.

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    ]aur Lrdpfs. Cktfrprftckl tbf maktrdmt, tbf Kfw Saro Maurt ai Dppfdhs bfh`

    tbdt tbf fvfkts dt cssuf makstctutf` mak`ctcaks ai Efrrctt Bchhs mhasckl jut kat`utcfs ai \ck`y Bfclbts. Maksfqufkthy, jfmdusf tbf mak`ctcak idchf`, EfrrcttBchhs wds fktcthf` kat ta mhasf dk` ta ajtdck tbf rfturk ai cts `fpasct. Bawfvfr,sckmf \ck`y Bfclbts wds kat ck jrfdmb ai d `uty, Efrrctt Bchhs mauh` kat mahhfmt`dedlfs ct suiifrf` ds d maksfqufkmf ai kat ickdhczckl tbf purmbdsf ai tbfprapfrty. Efrrctt Bchh Yckydr`s Ckm. v. \ck`y Bfclbts Yckfydr`, Ckm., 09> K.F. :`4>

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    Pbf L.C.s Hadk Maktcklfkmy. Ck 4362, Gabk @fIrfctds dlrff` ta juy Csrdfh

    dk` Fupbfecf Matfs bausf iar $49,, wctb tbf iahhawckl pravcscak7

    Pbcs sdhf cs sujgfmt ta d L.C. Hadk dk` ck tbf fvfkt tbdt sdc` deaukt cs katdppravf`, tbf `fpasct wchh jf rfturkf` ck iuhh. . . . Ct cs iurtbfr uk`frstaa`dk` dlrff` tbdt sbauh` tbf L.C. dpprdcsdh jf hfss tbdk rfqufstf` dk`

    sbauh` tbf sfhhfrs rfiusf ta sfhh iar tbf deaukt ai sdc` dpprdcsdh, tbfk tbcsmaktrdmt jfmaefs kuhh dk` vac` sfvfk `dys ditfr tbf jdko rfmfcvfs sdc`stdtfefkt ai dpprdcsdh.

    Pbf L.C. dpprdcsdh wds hfss tbdk tbf stdtf` purmbdsf prcmf ai tbf bausf, dk`tbf Matfs rfiusf` ta dmmfpt tbf hfssfr prcmf. Kfvfrtbfhfss, @fIrfctdsajtdckf` d makvfktcakdh hadk dk` wratf ta tbf Matfs tbdt bf cktfk`f` tamaephftf tbf purmbdsf dt tbf dlrff`-upak prcmf. Pbf Matfs rfiusf` ta latbraulb wctb tbf trdksdmtcak. \frf tbfy hfldhhy gustcicf`1

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    Pbf L.C.s Hadk Maktcklfkmy.

    d) Sfs, jfmdusf dk fxprfss mak`ctcak ai tbf sdhf wds kat sdtcsicf`.

    j) Ka, jfmdusf tbf mak`ctcak pravc`f` pratfmtcak iar tbf juyfrs, kat tbfsfhhfrs.

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    Pbf L.C.s Hadk Maktcklfkmy. Pbf trcdh maurt ckstrumtf` tbf gury tbdt ci tbf LC

    hadk dpprdcsdh wds hfss tbdk tbf stdtf` purmbdsf prcmf dk` tbf sfhhfrs wauh`kat dmmfpt tbdt prcmf, tbf maktrdmt wds kuhh dk` vac`. Pbf Edssdmbusfttssuprfef maurt iauk` tbdt tbcs wds frrar, dk` tbdt tbf maurt sbauh` bdvfckstrumtf` tbf gury tbdt maktrdmt `afs kat hcect tbf juyfr ta ajtdck d L.C. Hadkds tbf akhy efdks ai ickdkmckl tbf trdksdmtcak dk` dhh tbdt bf cs rfqucrf` ta `acs jf djhf ta rdcsf tbf kfmfssdry maksc`frdtcak rfldr`hfss ai cts saurmf.@fIrfctds v. Matf, =0: Edss. 0

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    ^dyckl iar Kumhfdr ^awfr. Pbf Edssdmbusftts Eukcmcpdh \bahfsdhf Fhfmtrcm Maepdky (EE\FM)paahs tbf rfsaurmfs ai sedhh eukcmcpdh utchctcfs ck ar`fr ta purmbdsf fkfrly dt hawfr mast tbdk tbf utchctcfs mauh`ajtdck ds ck`cvc`udh fktctcfs. EE\FM fktfrf` maktrdmts, mdhhf` pawfr sdhfs dlrffefkts, wctb d kuejfr aiEdssdmbusftts dk` Yfreakt utchctcfs ck ar`fr ta mrfdtf d maksartcue dk` tbfk, ak jfbdhi ai tbdt maksartcue,rdcsf` mdpctdh tbraulb tbf cssudkmf ai jak`s ck ar`fr ta purmbdsf d scx pfrmfkt cktfrfst ck twa kumhfdr pawfrphdkts tbfk jfckl jucht ck ]fdjraao, Kfw Bdepsbcrf.

    Fdmb ai EE\FMs pawfr sdhfs dlrffefkts maktdckf` dk fxfmutcak dk` `fhcvfry tfre, wbcmb pravc`f` tbdt7

    Pbcs Dlrffefkt sbdhh jf fiifmtcvf upak fxfmutcak dk` `fhcvfry ai ^awfr ]dhfs Dlrffefkts jy EE\FMdk` ^drtcmcpdkts wbasf ^drtcmcpdkts sbdrfs tatdh 4>>%.

    Fdmb ai tbf pawfr sdhfs dlrffefkts dhsa ckmhu`f` d stfp up pravcscak, wbcmb pravc`f` tbdt, sbauh` akf arearf ai tbf utchctcfs ck tbf maksartcue `fiduht ak cts ajhcldtcaks, tbf atbfr efejfrs wauh` jf rfqucrf` tackmrfdsf tbfcr pdrtcmcpdtcak pra-rdtd ta edof up tbf `ciifrfkmf.

    Ditfr tbf pawfr sdhfs dlrffefkts bd` jffk sclkf` dk` tbf jak`s cssuf`, tbf Yfreakt ]uprfef Maurt bfh`tbdt Yfreakt utchctcfs, wbcmb awkf` 46% ai tbf maksartcues ckvfstefkt, hdmof` dutbarcty ta fktfr ckta tbf pawfrsdhfs dlrffefkts. Maksfqufkthy, tbf pawfr sdhfs dlrffefkts jftwffk EE\FM dk` tbasf utchctcfs wfrf vac`.Pbf EE\FM sujsfqufkthy ckvaof` tbf stfp up pravcscak. ]fvfrdh Edssdmbusftts utchctcfs, ckmhu`ckl tbfPawk ai @dkvfrs, jraulbt suct, mhdceckl tbdt tbf pawfr sdhfs dlrffefkts (dk`, tbus, tbf stfp up pravcscak)kfvfr jfmdef jck`ckl jfmdusf tbf mak`ctcak prfmf`fkt pravc`f` jy tbf fxfmutcak dk` `fhcvfry tfre wdskfvfr sdtcsicf`. ]bauh` tbf utchctcfs jf fxmusf` irae pfriareckl dmmar`ckl ta tbf stfp up pravcscak1

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    ^dyckl iar Kumhfdr ^awfr.

    d) Sfs, jfmdusf, wctb tbf Yfreakt maktrdmts jfckl vac`, tbfrf wfrf kfvfr hfldh^awfr ]dhfs Dlrffefkts fxfmutf` jy earf tbdk 26% ai pdrtcmcpdkt sbdrfsck tbf pragfmt.

    j) Ka, jfmdusf tbf purpasf ai tbf stfp up pravcscak wds ta pratfmtjak`bah`frs irae kak-pdyefkt jy pawfr maepdkcfs, wbcmb cs fxdmthy wbdtbdppfkf` wbfk tbf Yfreakt maktrdmts wfrf vac`f`.

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    ^dyckl iar Kumhfdr ^awfr. Pbf utchctcfs drluf` tbdt 4>>% ai pdrtcmcpdkt

    sbdrfs wfrf kfvfr mahhfmtf` jfmdusf tbf Yfreakt utchctcfs ^]Ds wfrf ckvdhc`.Pbf Edssdmbusftts suprfef maurt sdc` tbf cktfkt ai tbf pdrtcfs ta mrfdtf dmak`ctcak prfmf`fkt eust jf mhfdrhy edkcifstf`, dk` tbfrf cs ka mhfdrck`cmdtcak tbdt tbf dutbarcty ai fdmb pdrtcmcpdkt ta fktfr ckta d ^]D wds efdktta makstctutf d mak`ctcak prfmf`fkt ta tbf fxcstfkmf ai , ar ajhcldtcaks uk`fr, dhhtbf ^]Ds. Ck cktfrprftckl tbf fxfmutcak dk` `fhcvfry tfre kdrrawhy, tbf maurtphdmf` sclkcicmdkt fepbdscs ak tbf purpasf ai tbf ^]Ds ta pratfmtjak`bah`frs, dk` tbus offp tbf mast ai mdpctdh haw iar EE\FM. Pbf maurtd``f` tbdt fxtrckscm fvc`fkmf ta pravf tbdt sumb d mak`ctcak prfmf`fkt fxcstf`wds kat rfhfvdkt jfmdusf tbf tfres ai tbf ^]Ds drf rfdsakdjhf mhfdr.Edssdmbusftts Eukcmcpdh \bahfsdhf Fhfmtrcm Ma. v. Pawk ai @dkvfrs, 6

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    Pbf ]dhf ai Mark. Eartak fktfrf` ckta d maktrdmt ta purmbdsf mark irae

    Hdej. Hdej wds ta `fhcvfr tbf mark ta Eartak dt ]bdr`haw, ck tbf maukty ai@frjy (ck tbf Vkctf` Ockl`ae), akf eaktb irae tbf `dtf ai tbf dlrffefkt.\bfk Hdej idchf` ta `fhcvfr tbf mark wctbck tbdt pfrca` ai tcef, Eartak jraulbtsuct. Hdej drluf` tbdt Eartak sbauh` kat jf pfrecttf` ta rfmavfr jfmdusfEartak bd` kat tfk`frf` pdyefkt. \ba sbauh` prfvdch1

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    Pbf ]dhf ai Mark.

    d) Eartak, jfmdusf Hdej wds ck jrfdmb jy kat `fhcvfrckl tbf mark.

    j) Hdej, jfmdusf Hdejs `uty wds mak`ctcakdh ak Eartak pravc`ckl pdyefkt.

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    Pbf ]dhf ai Mark. Ck tbf 44 F.Z. 23> (4

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    Ldssf`. ]bdw hfdsf` d lds stdtcak irae Eajch Ach Marpardtcak uk`fr d

    maktrdmt tbdt pravc`f` Eajch wauh` pravc`f ]bdw wctb bcs ldsahckfrfqucrfefkts dk` ]bdw wauh` pdy d spfmcicf` prcmf pfr ldhhak jut kat hfsstbdk d eckceue rfktdh ai $0. Ci tbf pfr ldhhak mbdrlfs tatdhf` hfss tbdk$0 dt tbf fk` ai dky lcvfk eaktb, ]bdw wds ta pdy tbf `ficmcfkmypraepthy. Ds d maksfqufkmf ai ach sbartdlfs, tbf if`frdh lavfrkefkt ck Guhy43

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    Ldssf`.

    d) Iar Eajch, jfmdusf tbf maktrdmt rfqucrfs tbdt ]bdw pdy d eckceue ai $0dk` Eajch wds kat dt iduht iar `fhcvfrckl hfss iufh tbdk rfqufstf`.

    j) Iar ]bdw, jfmdusf bcs `uty ta pdy tbf `ficmcfkmy deaukt cs mak`ctcakf` ak

    Eajchs pravcscak ai ]bdws rfqucrfefkts.

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    Ldssf`. Pbf Arflak ]uprfef Maurt ruhf` tbdt ]bdws `uty ta pdy tbf

    eckceue eaktbhy deaukt cs `fpfk`fkt, ar mak`ctcakdh, ak Eajchs `uty ta`fhcvfr tbf deaukt ai ldsahckf ar`frf`. \bftbfr ar kat Eajchs `uty ta pravc`ftbf ldsahckf cs fxmusf` ds d rfsuht ai tbf lavfrkefkt dmtcak, tbf mak`ctcak ai]bdws `uty wds kat sdtcsicf`. Pbfrfiarf, ]bdw wds kat ajhcldtf` ta pdy tbf`ficmcfkmy deaukt. ]bdw. v. Eajch Ach Marp. 6=6 ^.:`

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    Mustaefr pdys jdmocktfrfst jy 44/46

    Jdko iarjfdrsirae mdhhckl katf

    (praecssary mak`ctcak)@uty (praecsf)@uty + Mak`ctcak

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    Pbf Dklry Idrefrs.

    d) Pbf Drkbah`s drf fxmusf` jfmdusf tbf mak`ctcak ck tbf maktrdmt wds fxphcmctdk` ed`f mhfdr tbdk dky `fhdy ck mhasckl wauh` makstctutf d iarifcturf.

    j) Pbf Drkbah`s drf kat fxmusf` jfmdusf d akf `dy `fhdy wds kat d edtfrcdh

    jrfdmb.

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    Pbf Dklry Idrefrs.D edlcstrdtf gu`lf iauk` tbdt tbf `rap `fd` mhdusf

    wds dk fssfktcdh tfre ai tbf pdrtcfs arclckdh sftthfefkt dlrffefkt, dk` tbf :).

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    Batfh Icrf. Pbf Echkfr Batfh, hamdtf` d`gdmfkt ta d \fst Ycrlckcd rdchrad` ydr`,

    maktrdmtf` ta pravc`f raaes ta tbf Kariaho dk` \fstfrk Zdchwdy Maepdkys fephayffsiar d icxf` prcmf, wctb tbf rdchwdy ludrdktffckl ammupdkmy ai dt hfdst 9> raaes pfr kclbt.Pbf maktrdmt, wbcmb pravc`f` jatb pdrtcfs wctb tbf rclbt ta tfreckdtf iar dky rfdsak wctb=>-`dy katcmf, spfmcicf` tbdt tbf Echkfr wds rfspakscjhf iar7

    (`) Edcktdckckl dt dhh tcefs laa`, mhfdk, dk` sdkctdry mak`ctcaks tbraulbaut tbf sdc` batfh?

    (f) Ajsfrvckl dk` maephyckl wctb dhh hamdh, stdtf, ar if`frdh hdws dk` rfluhdtcaks pfrtdckckl ta tbfapfrdtcak ai sdc` batfh . . .

    Ck Edrmb 4334, d icrf jraof aut dt tbf batfh. Pbfrf wds ka strumturdh `dedlf, jut tbfbatfh suiifrf` seaof `dedlf irae tbf ihdefs dk` wdtfr `dedlf irae fiiarts tafxtcklucsb tbf icrf. D past-icrf ckspfmtcak jy tbf hamdh icrf `fpdrtefkt rfvfdhf` kuefrausvcahdtcaks ai icrf dk` fhfmtrcmdh ma`fs, ds wfhh ds tbf prfsfkmf ai mruejhckl, ircdjhf

    dsjfstas ck sfvfrdh hamdtcaks cksc`f tbf batfh.

    Pbf rdchwdy maepdky tbfk pravc`f` katcmf tbdt ct wds tfreckdtckl tbf maktrdmt, dk` ct `c`kat sfk` dky fephayffs jdmo ta tbf batfh ditfr tbf icrf. Pbf Echkfr suf` iar hast praictssuiifrf` `urckl tbf =>-`dy pfrca` jfiarf tbf rdchwdys tfreckdtcak jfmdef fiifmtcvf.\ba sbauh` prfvdch1

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    Batfh Icrf.

    d) Echkfr, jfmdusf dky idchurfs ak cts pdrt ta maephy wctb rfluhdtcaks wfrf katedtfrcdh jrfdmbfs ai cts maktrdmt wctb tbf rdchrad`.

    j) Pbf rdchrad`, jfmdusf idchurf ta maephy wctb sdifty rfluhdtcaks drf edtfrcdh

    jrfdmbfs.

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    Batfh Icrf. Ck dk ukrfpartf` pfr murcue `fmcscak, tbf 0tb Mcrmuct Maurt ai

    Dppfdhs upbfh` tbf `cstrcmt maurts lrdkt ai sueedry gu`lefkt iar tbf rdchrad`.Pbf maurt rfgfmtf` Echkfrs drluefkt tbdt tbf ma`f vcahdtcaks dk` dsjfstaswfrf, dt east, tfmbkcmdh jrfdmbfs ai cts dlrffefkt ta edcktdck tbf batfh cklaa` mak`ctcak dk` ta ajsfrvf dhh dpphcmdjhf hdws dk` rfluhdtcaks, mdhhf` tbfesfrcaus sdifty `fifmts. Echkfr idchf` ck cts ajhcldtcak ta `feakstrdtf tbdt ctbd` kat maeecttf` d _prcarU edtfrcdh jrfdmb ai tbf maktrdmt. Echkfr Batfhs Ckm.

    v. Kariaho dk` \fstfrk Zdchwdy Ma., 43 I.=` 40:3 (0tb Mcr. 4330).

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    D Ecsphdmf` \dhh. Irdko dk` Mdrah Gdmajs fktfrf` ckta d maktrdmt wctb

    Fulfkf ^hdktf, d juch`fr, iar tbf makstrumtcak ai d kfw bausf ak d hat awkf`jy tbf Gdmajs idechy ck \duofsbd Maukty, \csmaksck. Pbf maktrdmt mdhhf` iartbf juch`fr ta makstrumt tbf bausf dmmar`ckl ta d stamo ihaar phdk dk`dmmaepdkyckl spfmcicmdtcaks. Pbf Gdmajs ed`f pfrca`cm pralrfss pdyefktstatdhckl dppraxcedtfhy $:>,>>> `urckl tbf maursf ai makstrumtcak, jut tbfyrfiusf` ta edof tbf ickdh pdyefkt ai earf tbdk $9,>>>, dk` tbf juch`fr

    jraulbt suct. Pbf Gdmajs c`fktcicf` d kuejfr ai cepfrifmtcaks ck tbfmakstrumtcak waro jut prcedrchy strfssf` tbf idmt tbdt tbf juch`fr bd` ecsphdmf`tbf wdhh jftwffk tbf hcvckl raae dk` tbf octmbfk, wbcmb rfsuhtf` ck tbfkdrrawckl ai tbf hcvckl raae jy earf tbdk akf iaat. Pbf hamdtcak ai tbf wdhhwds, ck idmt, ckmakscstfkt wctb tbf phdks iar tbf bausf. Dt tbf trcdh, tbf juch`frmdhhf` ds wctkfssfs rfdh fstdtf fxpfrts wba tfstcicf` tbdt tbf hamdtcak ai tbfwdhh wauh` kat diifmt tbf edroft prcmf ai tbf bausf. \frf tbf Gdmajs gustcicf`ck wctbbah`ckl pdyefkt, ar sbauh` tbf `amtrckf ai sujstdktcdh pfriaredkmfdpphy1

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    D Ecsphdmf` \dhh.

    d) Pbf Gdmajs wfrf gustcicf` jfmdusf tbf ecsphdmfefkt ai d wdhh cs d vcscjhfdk` ajvcaus makstrumtcak `fifmt.

    j) ^hdktf cs fktcthf` ta pdyefkt ai tbf iuhh prcmf hfss dky rf`umtcak ck edroft

    prcmf (fvfk ci tbdt rf`umtcak cs $>) jfmdusf bf sujstdktcdhhy pfriaref` bcsajhcldtcaks.

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    Pbf Hdtf Katcmf.

    TVF]PCAK ]HC@F

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    Pbf @uhhfs Pahh Zad`. Jrawk & Zaat, Ckm. wds tbf lfkfrdh maktrdmtar iar tbf

    makstrumtcak ai tbf @uhhfs Pahh Zad` Fxtfkscak, d 40-echf hakl prcvdtf bclbwdy jftwffk@uhhfs Dcrpart dk` Hffsjurl, Ycrlckcd. Jrawk & Zaat sujmaktrdmtf` d partcak ai tbfmakstrumtcak ta Eaarf Jratbfrs Maepdky, dk` tbf sujmaktrdmt ckmhu`f` tbf iahhawcklpdy-wbfk-pdc` pravcscak7

    _^Udyefkt jy Awkfr ta Lfkfrdh Maktrdmtar cs d mak`ctcak prfmf`fkt ta dky

    ajhcldtcak ai Lfkfrdh Maktrdmtar ta edof pdyefkt bfrfuk`fr? Lfkfrdh Maktrdmtarsbdhh bdvf ka ajhcldtcak ta edof pdyefkt ta ]ujmaktrdmtar iar dky partcak ai tbf]ujhft \aro iar wbcmb Lfkfrdh Maktrdmtar bds kat rfmfcvf` pdyefkt irae Awkfr.

    Jrawk & Zaat rfdhczf` tbdt saef ai tbf pragfmt spfmcicmdtcaks pravc`f` ta ct jy tbf tahhrad`s awkfr, tbf Pahh Zad` Ckvfstars ^drtkfrsbcp CC (PZC^) , dk` ak wbcmb Jrawk &

    Zaat prcmf` tbf gaj, wfrf hcofhy ta jf cksuiicmcfkt, wbcmb efdkt tbdt iuturf mbdklfs ta tbfspfmcicmdtcaks (mbdklf ar`frs) wfrf hcofhy. Akf ai tbf hcofhy mbdklfs wds ta tbftbcmokfss ai tbf makmrftf iar tbf rad`. PZC^ dk` Jrawk & Zaat, bawfvfr, saulbt tamakvckmf hfk`frs, wba wauh` patfktcdhhy pravc`f ickdkmckl iar tbf pragfmt, tbdt tbf tatdhpragfmt masts wfrf prf`cmtdjhf dk` kat sujgfmt ta fsmdhdtcak. Pbus, PZC^ dk` Jrawk &Zaat cktfktcakdhhy hfit aut sfvfrdh ctfes irae tbf prckmcpdh lfkfrdh maktrdmt (wbcmb tbfhfk`frs wauh` rfvcfw jfiarf dlrffckl ta pravc`f ickdkmckl). (maktckuf` ak kfxt shc`f)

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    Pbf @uhhfs Pahh Zad`. Pbf 0tb Mcrmuct bfh` tbdt tbf pdy-wbfk-pdc` mhdusf wds

    vdhc`, dk` pdyefkt jy tbf Awkfr ta Jrawk & Zaat wds d mak`ctcak ai Jrawk &Zaats pdyefkt ta Eaarf Jratbfrs. Bawfvfr, tbf maurt tbfk iauk` tbdt Jrawk& Zaat maktrcjutf` ta tbf kak-ammurrfkmf ai tbf mak`ctcak jy ecshfd`ckl tbfhfk`frs djaut tbf patfktcdh iar masthy `fsclk mbdklfs `urckl tbf maursf aimakstrumtcak. Jfmdusf Jrawk & Zaats mak`umt bck`frf` tbf iuhichhefkt ai tbfmak`ctcak prfmf`fkt, tbf prfvfktcak `amtrckf wds prapfrhy ckvaof` jy tbf

    `cstrcmt maurt ta wdcvf tbf mak`ctcak, edockl Jrawk & Zaat hcdjhf ta EaarfJratbfrs. Eaarf Jras. Ma v. Jrawk & Zaat, Ckm. :>< I.=` >>).

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    Pbf ]dhfsedks Tuatd. \fshfy ^fdrmf sah` cksurdkmf iar FHCM Marpardtcak

    dk` fdrkf` maeecsscaks jdsf` ak bcs sdhfs pfriaredkmf. D 43. Dhtbaulb ^fdrmf `c` kat efft tbcshcif dk` bfdhtb cksurdkmf quatd, FHCM pdc` bce tbf YC^ maeecsscak iar dhh ai

    43>> ai dutaeatcvf cksurdkmf sah` tbraulb Gukf 4, 43, FHCM wratf ta ^fdrmf dk` rfqufstf` tbdt bf rfturk tbf YC^

    maeecsscaks tbdt bd` jffk pdc` iar 43

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    Pbf ]dhfsedks Tuatd.

    d) FHCM sbauh` prfvdch jfmdusf ^fdrmf bd` kat sdtcsicf` tbf mak`ctcakprfmf`fkt (dk` ^fdrmf bd` rfdsak ta okaw ai FHCMs ecstdof).

    j) ^fdrmf sbauh` wck jfmdusf FHCM wdcvf` tbf mak`ctcak jy cts pfriaredkmf.

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    Pbf ]dhfsedks Tuatd. Pbf gury rfturkf` d vfr`cmt iar ^fdrmf dk` dwdr`f`

    bce $> ck ukpdc` maeecsscaks. Pbf ]uprfef Maurt ai Kfjrdsod diicref`\f jfhcfvf ct cs mhfdr tbdt tbfrf wds d wdcvfr jy tbf `fifk`dkt ai tbf mak`ctcakprfmf`fkt rfhdtcvf ta tbf quatd rfqucrfefkt, jatb fxprfsshy dk` dhsa jymak`umt, pdrtcmuhdrhy jy tbf rfmfptcak ai tbf jfkficts jy tbf `fifk`dkt dk`rfmfptcak ai tbf eakfy pdc` ta ct jy wdy ai prfecues dk` tbf maeecsscak pdc`tbfrfak ta tbf phdcktcii iar 43

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    Pbf Bausckl @fvfhapefkt. Gdefs Mdrrcl, tbf awkfr ai d pdrmfh ai hdk` ck

    \dtfrtawk, Edssdmbusftts, maktrdmtf` iar juch`fr Lchjfrt-Ydrofr Marpardtcak tamakstrumt =6 bausfs ak tbf pdrmfh dmmar`ckl ta d sft ai phdks dk` spfmcicmdtcaks. Pbfmaktrdmt spfmcicf` wbcmb jdscm bausf phdk wauh` jf usf` iar fdmb ai tbf =6 hats, dhaklwctb tbf jdscm prcmf iar fdmb phdk. ^urmbdsfrs ai tbf bausfs wauh` jf dhhawf` ta sfhfmtvdrcdtcaks ak tbf stdk`dr` bausf phdks, dk` tbf maktrdmt dhsa spfmcicf` baw eumb tbfjuch`fr wauh` jf pdc` iar fdmb ai tbf vdrcaus dhtfrdtcaks ar d``ctcaks. Pbf maktrdmt mdhhf`iar tbf bausfs ta jf jucht ck lraups ai kat hfss tbdk tfk. ^ralrfss pdyefkts wauh` jfed`f ta tbf juch`fr ak fdmb bausf wbfk mfrtdck echfstakfs wfrf dmbcfvf`, wctb ickdhpdyefkt `uf 0> `dys ditfr maephftcak ai tbf bausf.

    Pbf juch`fr makstrumtf` :> bausfs dk` rfmfcvf` pralrfss pdyefkts ak tbasf bausfsjut kat tbf ickdh pdyefkts. Dt tbdt tcef, tbf juch`fr mhdcef` tbdt ct wds hasckl eakfy,dk` ct rfiusf` ta stdrt waro ak tbf rfedckckl 46 bausfs ukhfss tbf awkfr dlrff` ta dk

    ckmrfdsf ck tbf maktrdmt prcmf. Pbf awkfr rfiusf` dk` wctbbfh` tbf ickdh pdyefkts aktbf :> maephftf` bausfs, dk` tbf juch`fr kfvfr makstrumtf` tbf rfedckckl 46 bausfs.Pbf awkfr suf` iar tbf `ciifrfkmf jftwffk tbf maktrdmt prcmf ai tbf 46 bausfs, wbcmbwfrf kat jucht, dk` tbf mast ai bcrckl dkatbfr juch`fr ta makstrumt tbfe ($3,3=6, dmmar`cklta tbf trcdh maurt). Pbf juch`fr mauktfrsuf` iar tbf ukpdc` ickdh pdyefkts ak tbf icrst :>bausfs ($=,40=, dmmar`ckl ta tbf trcdh maurt). Baw sbauh` tbf maurt ruhf1

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    Pbf Bausckl @fvfhapefkt.

    d) Pbf Juch`fr edtfrcdhhy jrfdmbf`, edockl tbf Awkfr fktcthf` ta wctbbah`pdyefkt.

    j) Pbf Juch`fr pfriaref` cts ajhcldtcaks makmfrkckl tbf icrst :> bausfs, sa ct cs

    fktcthf` ta rfmfcvf dhh pdyefkts iar tbasf bausfs.

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    Pbf Bausckl @fvfhapefkt. Pbf Edssdmbusftts ]uprfef Maurt iauk` tbdt

    tbf maktrdmt wds `cvcscjhf. Pbf maktrdmt mavfrf` tbf makstrumtcak ai tbcrty-icvfbausfs, tbf eakfy iar wbcmb wds sfmurf` jy d sfpdrdtf eartldlf phdmf` akfdmb hat dk` irae tbf sdhf ai fdmb bausf upak cts maephftcak. ^dyefkts tatbf maktrdmtar wfrf ed`f ck ckstdhhefkts ds tbf makstrumtcak ai tbdt bausfrfdmbf` mfrtdck stdlfs. Fdmb bausf wds trfdtf` ds d ukct. Pbf sue ai$4=:,3:2 kdef` ck tbf maktrdmt wds katbckl earf tbdk tbf sue tatdh ai tbf

    jdscm prcmfs irae tbf frfmtcak ai tbcrty-icvf `ciifrfkt bausfs Pbf Maurtupbfh` tbf hawfr maurt dwdr` ta tbf awkfr iar `dedlfs rfhdtf` ta tbf ukjuchtbausfs, jut rfvfrsf` tbf hawfr maurts bah`ckl tbdt tbf juch`fr wds kat fktcthf`ta tbf ickdh pdyefkts `uf ak tbf icrst :> bausfs. Mdrrcl v. Lchjfrt-YdrofrMarp., =40 Edss. =64 (Edss. 430=)

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    Pbf Dklry Idrefrs, Zfvcsctf`. Ck prfpdrckl ta purmbdsf tbf sfhhfrs :2>-dmrf

    pdrmfh ai idrehdk` ck tbf Mbcmdla fxurjs, phdcktcii Amfdk Dthdktcm \aa`hdk`Marpardtcak spfkt $4.< echhcak avfr iaur yfdrs rfzakckl tbf prapfrty sa tbdt tbfprapfrty wauh` jf suctdjhf iar `fvfhapefkt, phdkkckl tbf sujsfqufkt`fvfhapefkt, mak`umtckl prfhceckdry fklckffrckl stu`cfs, dk` edroftckl tbfprapfrty. Amfdk Dthdktcm drluf` tbdt tfreckdtcak ai tbf maktrdmt iar tbf sdhfmdusf` d maephftf iarifcturf ai tbcs ckvfstefkt dk` ckmrfdsf` tbf vdhuf ai tbf

    prapfrty ta tbf sfhhfrs. ]bauh` Amfdk Dthdktcm jf dwdr`f` tbf vdhuf ai tbfjfkficts cts fxpfk`cturfs makifrrf` ak tbf sfhhfrs1

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    Pbf Dklry Idrefrs, Zfvcsctf`.

    d) Sfs. Fvfk tbaulb Amfdk jrfdmbf`, ct cs fktcthf` ta rfstctutcak ta prfvfkt tbfukgust fkrcmbefkt ai tbf Drkbah s.

    j) Ka. Pbf fxprfss mak`ctcak ai mhasckl chhustrdtfs tbf pdrtcfs cktfkt tbdt tbfrf

    wauh` jf d iarifcturf ci tbf mak`ctcak idchf`.

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    Pbf Dklry Idrefrs, Zfvcsctf`. Pbf >:).

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    Zasf :`. Ai Djfrhakf. P.M. ]bfrwaa` wds cktfrfstf` ck purmbdsckl hcvfstamo

    dk` vcsctf` Bcrde \dhofr, cepartfr dk` jrff`fr ai Dklus mdtthf, dt \dhofrsidre. \dhofr tah` ]bfrwaa` ta haao avfr sfvfrdh maws jfckl bausf` dtdkatbfr idre awkf` jy \dhofr, jut \dhofr wdrkf` ]bfrwaa` tbdt tbfy wfrfprajdjhy jdrrfk, dk` wauh` kat jrff`. ]bfrwaa` wfkt dk` vcfwf` tbf mawsdk` sfvfrdh `dys hdtfr fxprfssf` dk cktfrfst ck purmbdsckl akf kdef` Zasf:`. ai Djfrhakf. Pbf pdrtcfs dlrff` ta tbf sdhf ai Zasf iar 6.6 mfkts pfr

    pauk`, wbcmb wds dppraxcedtfhy 4>% ai wbdt d jrff`ckl maw wauh` mast.\bfk ]bfrwaa` drrcvf` ta pcmo up Zasf twa wffos hdtfr, tbf \dhofrs rfiusf`ta maephftf tbf fxmbdklf, mhdceckl tbdt ck tbf cktfrvfkckl tcef pfrca` tbfy bd``csmavfrf` tbdt Zasf, wbae jatb pdrtcfs jfhcfvf` ta jf jdrrfk, wds dmtudhhywctb mdhi. ]bfrwaa` suf`. \ba sbauh` prfvdch1

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    Zasf :`. Ai Djfrhakf.

    d) \dhofr, jfmdusf bf cs fktcthf` ta rfsmcsscak ai tbf maktrdmt iar eutudhecstdof.

    j) ]bfrwaa`, jfmdusf \dhofr jarf tbf rcso tbdt bf wds wrakl djaut Zasfs

    djchcty ta jrff`.

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    Zasf :`. Ai Djfrhakf. Pbf Ecmbcldk dppfhhdtf maurt ruhf` iar ]bfrwaa`,

    mhdceckl tbdt ct ed`f ka `ciifrfkmf wbftbfr Zasf wds jdrrfk ar kat. PbfEcmbcldk ]uprfef Maurt rfvfrsf`, bah`ckl tbdt tbf \dhofrs wfrf fxmusf` iraepfriaredkmf ak tbf lrauk` ai eutudh ecstdof. Pbf maurt sdc` tbf ofy cssuf wdswbftbfr tbf ecstdof wfkt ta tbf sujstdkmf ai tbf dlrffefkt. Ck ick`ckl tbdt ctwds, ct katf` tbf hdrlf `csmrfpdkmy jftwffk tbf vdhuf ai d jdrrfk maw dk` djrff`ckl maw. Pbf ecstdof wds kat ai tbf efrf qudhcty ai tbf dkcedh, jut wfkt

    ta tbf vfry kdturf ai tbf tbckl.]bf wds kat ck idmt tbf dkcedh, ar tbf ock` aidkcedh, tbf `fifk`dkts cktfk`f` ta sfhh ar tbf phdcktcii ta juy.Pbf maurt sbauh`bdvf ckstrumtf` tbf gury tbdt ci tbfy iauk` tbdt tbf maw wds sah`, ar maktrdmtf` tajf sah`, upak tbf uk`frstdk`ckl ai jatb pdrtcfs tbdt sbf wds jdrrfkdk` tbdt ckidmt sbf wds kat jdrrfktbfk tbf `fifk`dkts bd` d rclbt ta rfsmck`. Pbf`cssfkt mhdcef` tbdt tbf fvc`fkmf sullfstf` tbdt sfhhfrs tbaulbt Zasf wauh` kat

    jrff` jut tbf juyfr tbaulbt sbf mauh` jf ed`f ta jrff`, dk` tbdt ct turkf` auttbdt tbf phdcktcii wds earf marrfmt ck bcs gu`lefkt. Kfctbfr pdrty okfw tbf dmtudhqudhcty ai tbf maw, dk` sbf wds sah` wctbaut mak`ctcak. Pbf `cssfkt mhdcef` tbfedgarcty dhtfrf` tbf maktrdmt jy rfd`ckl ckta ct d mak`ctcak tbdt, ci tbf `fifk`dktssbauh` jf ecstdofk ck tbfcr jfhcfi tbdt tbf maw wds jdrrfk_tbfUmaktrdmt sbauh`jf dkkuhhf`. ]bfrwaa` v. \dhofr, 99 Ecmb. 692 (Ecmb. 422

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    D Earf ]frcaus Ckgury. Bfkry Oruzcmb wds sfrcaushy ckgurf` wbchf warockl ck d

    eckf wbfk dk arf jumoft strumo bce ck tbf bfd`. Oruzcmb wds pfredkfkthy`csdjhf` dk` rfqucrf` baef-mdrf iar d pfrca` ai tcef. Ah` Zfpujhcm CksurdkmfMaepdky, tbf eckfs cksurfr, dmmfptf` hcdjchcty dk` rfdmbf` d sftthfefkt tbdtpravc`f` Oruzcmb wctb tbf kff`f` mdrf. Bawfvfr, tbf dlrffefkt fxmhu`f` dkyiuturf baef-mdrf fxpfksfs. Oruzcmb rfmavfrf` irae bcs bfd` ckgury ta saef`flrff7 dhtbaulb bf rfedckf` pfredkfkthy `csdjhf`, bf `c` kat rfqucrf makstdkt

    eakctarckl, dk` ds d rfsuht, bcs wcif wds djhf ta rfturk ta waro. Kfdrhy 49 yfdrsditfr tbf dmmc`fkt, Oruzcmb jfldk suiifrckl eatar-sochhs `ftfrcardtcak. @amtars`cdlkasf` bce ds bdvckl ^drocksaks `csfdsf mdusf` jy tbf eckf dmmc`fkt.

    Dppdrfkthy, Oruzcmbs^drocksaks `fvfhapf` ds d rfsuht ai tbf eckf trdued, jut bf`c` kat dmtudhhy bdvf tbf `csfdsf dt tbf tcef tbf sftthfefkt wds rfdmbf`.

    Ds tbf ^drocksaks warsfkf`, Oruzcmb akmf dldck rfqucrf` baef-mdrf dk` wdsdirdc` bcs wcif wauh` bdvf ta hfdvf waro ta mdrf iar bce. Bf ichf` d hdwsuct sffocklta rfsmck` tbf sftthfefkt dlrffefkt uk`fr tbf `amtrckf ai eutudh ecstdof. ]bauh`tbf maurt lrdkt rfsmcsscak1 \auh` ct edttfr ta yaur dkdhyscs ci, ukokawk ta jatbpdrtcfs, Oruzcmb bd` tbf ckgury-trcllfrf` ^drocksaks `csfdsf dt tbf tcef ai tbfsftthfefkt fvfk tbaulb ka mhckcmdhhy sclkcicmdkt syeptaes dppfdrf` iar 49 yfdrs1

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    D Earf ]frcaus Ckgury.

    d) Sfs, jfmdusf tbfrf wds d eutudh ecstdof makmfrkckl tbf sfvfrcty ai tbfckgury.

    j) Ka, jfmdusf Oruzcmb jarf tbf rcso tbdt bf wauh` kff` earf baef mdrf ck

    tbf iuturf tbdk dktcmcpdtf` dt tbf tcef ai tbf sftthfefkt.

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    D Earf ]frcaus Ckgury. Pbf ]uprfef Maurt ai Eaktdkd ruhf` dldckst

    rfsmck`ckl tbf maktrdmt. \bchf sujstdktcdh mrf`cjhf fvc`fkmf `afs suppart tbf\MMs ick`ckl tbdt Bfkrys ^drocksaks `csfdsf wds mdusf` jy bcs 4322 ckgury,ct cs uk`csputf` tbdt tbf ^drocksaks `csfdsf `c` kat fxcst wbfk tbf pdrtcfsfktfrf` ckta tbfcr sftthfefkt dlrffefkt. Pbcs Maurt bds d`aptf` tbf wc`fhydmmfptf` ruhf tbdt d idchurf ta prf`cmt tbf iuturf cs kat d ecstdof ai idmt dsmaktfephdtf` jy tbf eutudh ecstdof-ai-idmt amtrckf. Oruzcmb v. Ah` Zfpujhcm

    Cks. Ma., =00 Eakt. 4:9 (Eakt. :>>2).

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    D Wakckl Zfstrcmtcak.

    d) Sfs, Ldrtkfr sbauh` prfvdch jfmdusf tbf djchcty ta hfldhhy juch` ak tbfprapfrty wds d jdscm dssueptcak ai tbf maktrdmt iar sdhf dk` tbf rcso tbdtmakstrumtcak wds kat pfrecttf` wds kat dhhamdtf` ta fctbfr pdrty.

    j) Ka, Fcochh sbauh` prfvdch jfmdusf tbf rcso tbdt d prapfrty wchh turk aut ta jfhfss vdhudjhf tbdk tbf pdrtcfs dssuef` cs cephcmcthy dhhamdtf` ta tbf juyfr.

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    D Wakckl Zfstrcmtcak. Pbf Eckkfsatd ]uprfef Maurt iauk` tbdt tbfrf wds d

    eutudh ecstdof wctb rfspfmt ta tbf passcjhf usfs ai tbf hdk` dk`, dhtbaulbecstdofs tbdt la ta tbf vdhuf ai tbf tbckl makvfyf` drf aitfk rcsos dssuef` jytbf juyfr, tbcs cs kat kfmfssdrchy tbf mdsf wbfk tbf pdrtcfs `c` kat maksmcaushydssuef tbf rcso ar dssfktf` ta tbf maktrdmt ak tbf dssueptcak tbdt _dU idmtarcs `fickctfhy fstdjhcsbf` dk` tbdt tbfrf cs ka rcso. Vpak ick`ckl tbdt Ldrtkfred`f rfdsakdjhf ckqucry makmfrkckl tbf prapfrtys zakckl stdtus dk` bd` ka

    rfdsak ta suspfmt tbdt dky _Urfstrcmtcak prabcjctf` tbf `fvfhapefkt ai tbfprapfrty, tbf maurt rfvfrsf` d hawfr maurt gu`lefkt iar tbf Fcochh dk` ar`frf`rfsmcsscak ai tbf trdksdmtcak. Ldrkfr v. Fcochh, =43 K.\.:` =3< (Eckk. 432:).

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    Drjctrdtf Pbcs. Jhuf Mrass Jhuf ]bcfh` ai Pfkkfssff (JMJ]P), d bfdhtb

    cksurdkmf marpardtcak, purmbdsf` d @crfmtars dk` Aiicmfrs Hcdjchcty Cksurdkmf^ahcmy irae JM] Cksurdkmf Maepdky. JMJ]P sujecttf` mhdces rfhdtf` ta drfmfkthy sftthf` hdwsuct ta JM], dk` JM] rfiusf` ta pdy. Pbf pdrtcfscksurdkmf maktrdmt mdhhf` iar drjctrdtcak ck tbf fvfkt ai tbcs typf ai `csputf, wctbtbf drjctrdtar ta jf mbasfk irae d spfmcicf` lraup ai patfktcdh drjctrdtars. Dttbcs packt ck tcef, JMJ]P hfdrkf` tbdt vcrtudhhy fvfry patfktcdh drjctrdtar ck tbf

    rfhfvdkt paah bd` dk ckbfrfkt makihcmt ai cktfrfst, wbcmb JMJ]P jfhcfvf`prf`cspasf` tbfe ta idvar JM]s pasctcak. JMJ]P tbfk mhdcef` tbdt ct ed`f dukchdtfrdh ecstdof ck dlrffckl ta tbf drjctrdtcak tfre ck tbf maktrdmt ak tbflrauk` tbdt ct `c` kat okaw dt tbf tcef ai maktrdmtckl tbdt tbf patfktcdhdrjctrdtars wauh` jf jcdsf` tawdr`s JM]. Dssueckl tbdt dhh ai tbf patfktcdhdrjctrdtars dt hfdst dppfdr ta jf jcdsf`, sbauh` tbf maurt lrdkt JMJ]Ps

    eatcak ta rfsmck` tbf drjctrdtcak mhdusf1

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    Drjctrdtf Pbcs.

    d) Sfs, jfmdusf JMJ]P ed`f d ecstdof dk` JM] bd` rfdsak ta okaw ai tbfecstdof.

    j) Ka, jfmdusf JMJ]P `c` kat fxfrmcsf `uf mdrf ck ckvfstcldtckl tbf c`fktcty

    ai tbf drjctrdtars.

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    Drjctrdtf Pbcs. Pbf V] @cstrcmt Maurt ck Chhckacs bfh` tbdt ct `c` kat qudhciy uk`fr

    tbf ukchdtfrdh ecstdof `amtrckf. Fvfk ci tbf drjctrdtcak dlrffefkt pfrects dkdppfdrdkmf ai pdrtcdhcty ak tbf drjctrdtcak pdkfh, tbf mhdusf cs katukmaksmcakdjhf Ickdhhy, JMJ]P mdkkat sbaw tbdt ct fxfrmcsf` `uf mdrf cktbf iaredtcak ai tbf maktrdmt mhdusf, dk` dky ukchdtfrdh ecstdof `fifksf eustidch ds d rfsuht. Pbfrf cs ka rfdsak ta jfhcfvf JMJ]P mauh` kat bdvf hfdrkf`djaut tbf awkfrsbcp ai JM] wbfk ct fktfrf` ckta tbf ^ahcmy dk` tbfrfiarf ka

    jdscs iar bah`ckl tbdt JMJ]P fxfrmcsf` `uf mdrf. Iurtbfrearf, ci JMJ]Pjfhcfvf` tbdt tbf dppfdrdkmf ai cepdrtcdhcty wds edtfrcdh, ct mauh` bdvfwrcttfk tbcs ck ta tbf maktrdmt. Jhuf Mrass Jhuf ]bcfh` ai Pfkkfssff v. JM]Cks. Ma. 64< I.]upp.:` 4>6> (K.@. Chh. :>>

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    Lackl Akmf, Lackl Pwcmf, ]AH@. Zcmbdr` Hcefbausf dk` @dvc` ]ectb

    sftthf` d prapfrty `csputf ck tbfcr rfdh fstdtf pdrtkfrsbcp jy dlrffckl ta sfhh tbfprapfrty dt dumtcak, dhtbaulb tbfy fdmb wdktf` ta awk tbf prapfrty ck`cvc`udhhy.Pbf twa pdrtcfs dlrff` tbdt fdmb wauh` rfmfcvf d 4>% `fpasct irae tbf dumtcakpurmbdsfr, jut akhy d 6% `fpasct ci akf ai tbfe ajtdckf` tbf prapfrty tbraulbtbf dumtcak jy edockl tbf bclbfst jc`. Pbfy dhsa dlrff` tbdt fctbfr ai tbfe mauh`jc` ak tbf prapfrty tbraulb d surraldtf.

    Ak tbf `dy ai tbf dumtcak, akhy tbrff pfaphf jc` ak tbf prapfrty7 ]ectb, LfkfLrfftfr (Hcefbausfsdttarkfy), dk` Dkk Odzfh, d rfdh fstdtf `fvfhapfr. \bfkOdzfh bd` tbf bclbfst jc` dk` Lrfftfr bd` stappf` jc``ckl, ]ectb `fmc`f` ta hftOdzfh wck tbf dumtcak jfmdusf bf wdktf` tbf 4>% `fpasct ta wbcmb bf wauh`tbfk jf fktcthf`, dk` bf jfhcfvf` bf mauh` sujsfqufkthy waro aut d `fdh wctb

    Odzfh ta purmbdsf tbf prapfrty jdmo irae bfr. Ct turkf` aut, bawfvfr, tbdt Odzfhwds jc``ckl ak jfbdhi ai Hcefbausf, wba fk`f` up wctb tbf prapfrty. ]ectb katakhy hast tbf prapfrty ta bcs iarefr pdrtkfr, jut bf akhy rfmfcvf` tbf 6% `fpasct.]ectb qucmohy eavf` ta rfsmck` tbf sdhf jdsf` ak bcs ukchdtfrdh ecstdof tbdtOdzfh wds jc``ckl ak bfr awk jfbdhi (rdtbfr tbdk ds Hcefbausfsdlfkt). ]bauh`tbf maurt lrdkt ]ectbs eatcak1

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    Lackl Akmf, Lackl Pwcmf, ]AH@. Pbf maurt avfrturkf` d hawfr maurts ruhckl

    lrdktckl rfsmcsscak ta ]ectb. Pbf maurt bfh` tbdt ]ectb `c` kat qudhciy uk`frukchdtfrdh ecstdof jfmdusf bf wds kflhclfkt. Pbf idmt tbdt ]ectb fctbfrclkarf` ar avfrhaaof` tbf idmt tbdt tbf tbcr` pdrty mauh` bdvf jffk jc``ckl iarHcefbausf cs kat suiicmcfkt ta rfhcfvf bce ai bcs pfriaredkmf uk`fr tbfmaktrdmts jfmdusf ai ukchdtfrdh ecstdof jdsf` ak bcs awk kflhclfkmf dk` hdmoai iarfsclbt. Hcefbausf v. ]ectb >4).

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    Kdvy Icrf. ZKG Cktfrstdtf Marpardtcak fktfrf` ckta d maktrdmt wctb tbf Kdvy ta

    rfkavdtf d juch`ckl dt tbf Kdvdh Dcr ]tdtcak ck Lhfkvcfw, Chhckacs. Pbf maktrdmt pravc`f` iartbf lavfrkefkt ta edof pralrfss pdyefkts ta ZKG `urckl tbf rfkavdtcak dk` ckmhu`f`d ^frects dk` Zfspakscjchctcfs mhdusf, wbcmb pravc`f`7

    Pbf Maktrdmtar sbdhh, wctbaut d``ctcakdh fxpfksf ta tbf Lavfrkefkt, jf rfspakscjhf iar ajtdckckldky kfmfssdry hcmfksfs dk` pfrects, dk` iar maephyckl wctb dky If`frdh, ]tdtf, dk` eukcmcpdhhdws, ma`fs, dk` rfluhdtcaks dpphcmdjhf ta tbf pfriaredkmf ai tbf waro. Pbf Maktrdmtar sbdhh

    dhsa jf rfspakscjhf iar dhh `dedlfs ta pfrsaks ar prapfrty tbdt ammur ds d rfsuht ai tbfMaktrdmtar's iduht ar kflhclfkmf, dk` sbdhh tdof prapfr sdifty dk` bfdhtb prfmdutcaks ta pratfmttbf waro, tbf warofrs, tbf pujhcm, dk` tbf prapfrty ai atbfrs. Pbf Maktrdmtar sbdhh dhsa jfrfspakscjhf iar dhh edtfrcdhs `fhcvfrf` dk` waro pfriaref` uktch maephftcak dk` dmmfptdkmf aitbf fktcrf waro, fxmfpt iar dky maephftf` ukct ar waro wbcmb edy bdvf jffk dmmfptf` uk`fr tbfmaktrdmt.

    ZKG jfldk waro ck ]fptfejfr 4334, dk` tbf lavfrkefkt ed`f pralrfss pdyefkts taZKG ds tbf waro pralrfssf`. ZKG bd` maephftf` earf tbdk bdhi ai tbf pragfmt wbfk tbfjuch`ckl wds maephftfhy `fstrayf` jy icrf. ZKG `fedk`f` pdyefkt iar tbf waromaephftf` prcar ta tbf icrf (hfss tbf pralrfss pdyefkts dhrfd`y ed`f), dk` tbflavfrkefkt rfiusf` ta pdy. Pbf pdrtcfs dlrff` tbdt tbf icrf wds tbf iduht ai kfctbfr dk`tbdt tbf lavfrkefkt bd` kat dmmfptf` dky partcak ai ZKG's waro dt tbf tcef ai tbf jhdzf.Ck d hdwsuct jraulbt jy ZKG, wbcmb pdrty sbauh` prfvdch1

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    Kdvy Icrf.

    d) Pbf Kdvy sbauh` prfvdch, jfmdusf tbf maktrdmt dhhamdtfs tbf rcso tbdt tbfjuch`ckl wchh jf `fstrayf` jfiarf waro cs dmmfptf` ta ZKG.

    j) ZKG sbauh` prfvdch jfmdusf, dhtbaulb tbf maktrdmt dhhamdtfs saef rcsos ta

    ZKG, tbf rcso ai `fstrumtcak ai tbf prapfrty uk`fr makstrumtcak cs kat akf aitbfe, dk` rfdsakdjhf pdrtcfs wauh` dssuef tbdt ZKG wauh` jf fktcthf` tapdyefkt iar waro `akf ck sumb mcrmuestdkmfs.

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    Kdvy Icrf. ZKG drluf` tbdt tbf `fstrumtcak ai tbf juch`ckl ed`f tbcs mdsf d mhdsscm

    fxdephf ai cepasscjchcty, wbcmb sbauh` fxmusf cts `uty ta maephftf pfriaredkmf prcar tajfckl fktcthf` ta pdyefkt. Pbf lavfrkefkt makmf`f` tbdt ZKG wds fxmusf` irae cts `utyta maephftf tbf rfkavdtcak jut dssfrtf` tbdt ct bd` ka ajhcldtcak ta edof pdyefkts. PbfIf`frdh Mcrmuct diicref` d trcdh maurt ruhckl iar tbf lavfrkefkt ak tbf lrauk` tbdt tbfmaktrdmt fxprfsshy dhhamdtf` tbf rcso ta ZKG7

    Ck edockl cts drluefkt, ZKG sffos suppart ck wbdt ct mbdrdmtfrczfs ds tbf maeeak hdw `amtrckf

    ai cepasscjchcty. Ck idmt, bawfvfr, tbf maeeak hdw `amtrckf cs d `fiduht dk` `afs kat dpphy wbfrftbf pdrtcfs bdvf dlrff`, jy tbf tfres ai tbfcr maktrdmt, ta d `ciifrfkt dhhamdtcak ai rcsos. Ck tbcsmdsf, wf makmhu`f tbdt tbf maktrdmt jftwffk ZKG dk` tbf lavfrkefkt dhhamdtf` tbf rcso ai hassta ZKG prcar ta tbf dmmfptdkmf ai tbf waro, dk` tbdt tbf maktrdmt tbfrfiarf jdrs dky rfmavfry jyZKG ck tbcs mdsf.

    Pbf hdst sfktfkmf ai tbf ^frects dk` Zfspakscjchctcfs Mhdusf stdtfs7 Pbf Maktrdmtar sbdhh

    dhsa jf rfspakscjhf iar dhh edtfrcdhs `fhcvfrf` dk` waro pfriaref` uktch maephftcak dk`dmmfptdkmf ai tbf fktcrf waro, fxmfpt iar dky maephftf` ukct ar waro wbcmb edy bdvf jffkdmmfptf` uk`fr tbf maktrdmt. Pbdt mhdusf dhhamdtfs dhh rcsos ta tbf maktrdmtar uktch dspfmcicf` fvfkt ammurs.Jatb pdrtcfs dlrff tbdt dmmfptdkmf kfvfr ammurrf`? tbf rcsostbfrfiarf bd` kat sbcitf` irae tbf maktrdmtar ta tbf lavfrkefkt wbfk tbf juch`ckl wds`fstrayf` jy icrf. ZKG Cktfrstdtf Marp. v. V.]., 424 I.=` 4=:3 (If`. Mcr. 4333).

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    Pbf Maksueptcvf Icdkm. Ck tbf fdrhy 426>s, Er. \rclbt dk` Ecss Bdhh

    jfmdef fkldlf` ta jf edrrcf`. ^rcar ta tbf dppacktf` `dtf iar tbf kuptcdhs,\rclbt jraof aii tbf fkldlfefkt, dk` Bdhh suf` iar jrfdmb ai maktrdmt. \rclbtrfspak`f` ta Bdhhs maephdckt jy phfd`ckl tbdt, ditfr tbf twa bd` jfmaeffkldlf`, bf wds strcmofk wctb maksueptcak, `c` dk` maktckuf` ta suiifr iraeirfqufkt dk` sfvfrf jhff`ckl irae bcs hukls, dk` wds ukdjhf ta iuhichh tbfmaeectefkts ai edrrcdlf wctbaut phdmckl bcs hcif ck lrdvf `dklfr. ]bauh` Bdhh

    jf fktcthf` ta gu`lefkt ak tbf phfd`ckls, ar wauh` tbf idmts dhhflf` jy \rclbt,ci pravfk, fxmusf bcs ajhcldtcak ta edrry1

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    Pbf Maksueptcvf Icdkm.

    d) Bdhh cs fktcthf` ta gu`lefkt jfmdusf, fvfk ci pfriaredkmf cs pbyscmdhhycepasscjhf ar ceprdmtcmdjhf, \rclbt eust pdy `dedlfs.

    j) Bdhh cs kat fktcthf` ta gu`lefkt, jfmdusf \rclbt sbauh` jf fxmusf` irae

    pfriareckl ci bcs chhkfss wds ds sfrcaus ds mhdcef`.

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    Pbf Maksueptcvf Icdkm.Pbf iaur Fklhcsb gu`lfs `cvc`f`. Gu`lf Frhf iauk`

    tbdt d maktrdmt ta edrry cs dssuef` ck hdw ta jf ed`f iar tbf purpasf aieutudh maeiart, dk` tbf `fifk`dkt sbauh` jf fxmusf` ci tbf mcrmuestdkmfsdrf sa mbdklf` ds ta edof cktfksf ecsfry ckstfd`tbf prajdjhf rfsuht aipfriareckl tbf maktrdmt. Gu`lf \clbtedk dlrff`, fvfk makmf`ckl tbdt tbfpfriaredkmf wds kat cepasscjhf, jut akhy bclbhy `dklfraus ta tbf hcif ai tbfpfrsak praecsckl. Mbcfi Gu`lf Har` Mdepjfhh `csdlrff`, ick`ckl tbdt d edk

    wba uk`frtdofs d `uty cs jauk` ta edof ct laa`katwctbstdk ckl dkydmmc`fktjfmdusf bf eclbt bdvf pravc`f` dldckst ct jy bcs maktrdmt. Cipfriareckl tbf ajhcldtcak cs cepasscjhf, \rclbt edy wfhh pdy `dedlfs.Gu`lf Mraeptak apckf` tbdt, dt jfst, tbf idmts wauh` bdvf dhhawf` \rclbt tarfsmck` tbf maktrdmt, jut bcs idchurf ta `a sa dk` pravc`f katcmf ta Bdhh (prcar tatbf hctcldtcak) fktcthf` Bdhh ta d vfr`cmt.

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    Kumhfdr awfr. Ck 4399, Iharc`d Hclbt & ^awfr Maepdky (IH&^) bcrf` \fstcklbausf FhfmtrcmMarpardtcak ta makstrumt d kumhfdr pawfr phdkt. Pbf maktrdmt ldvf IH&^ tbf aptcak, wbcmb mauh` jf fxfrmcsf`prcar ta tbf phdkt lackl ckta apfrdtcak, ta cepasf ak \fstcklbausf tbf ajhcldtcak ta rfeavf tbf crrd`cdtf` _c.f.,spfktU iufh _ditfr pramfsscklU dk` `cspasf ai ct ds \fstcklbausf sffs ict.

    Ck 436

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    Kumhfdr awfr.

    d) IH& , jfmdusf tbf maktrdmt pravc`fs IH&^ wctb dk aptcak ta cepasf d `utyak \fstcklbausf ta `cspasf ai spfkt iufh.

    j) \fstcklbausf, jfmdusf tbf dvdchdjchcty ai fctbfr maeefrmcdh ar

    lavfrkefkt-pravc`f` spfkt iufh pramfssckl idmchctcfs wds d jdscm dssueptcakai tbf maktrdmt.

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    D Mdr @fdhfr ck \drtcef. Ck 4304, prcar ta tbf fktry ai tbf Vkctf` ]tdtfs ckta

    \arh` \dr CC, Bdrah` Eurpby hfdsf` d hat ck Has Dklfhfs irae Mdrahckf Hhay`iar tbf purpasf ai sfhhckl kfw mdrs. Ditfr tbf mauktrys fktry ckta tbf wdr,wdrtcef ck`ustrcdh pra`umtcak sbcitf` tawdr` echctdry purpasfs, dk` tbflavfrkefkt rfstrcmtf` sdhfs ai mdrs ta tbf sedhh pfrmfktdlf ai tbf papuhdtcakpassfssckl prfifrfktcdh rdtckls ai D-4-g ar bclbfr. Pbfsf fvfkts ed`f sfhhcklmdrs `ciicmuht dk` `rdstcmdhhy rf`umf` tbf praictdjchcty ai Eurpbys jusckfss.

    Eurpby rfpu`cdtf` tbf hfdsf dk` `fifk`f` dldckst Hhay`s sujsfqufkt hdwsuctjy drluckl irustrdtcak ai purpasf. Cs Eurpby fxmusf , ar eust bf maktckuf tapdy Hhay` tbf hfdsf rdtf iar tbf hat1

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    D Mdr @fdhfr ck \drtcef.

    d) Eurpby sbauh` jf fxmusf` jfmdusf tbf wdr dk` rfsuhtckl lavfrkefktrfstrcmtcaks ak mdr purmbdsfs wfrf ukiarfsffk.

    j) Eurpby sbauh` kat jf fxmusf` jfmdusf bf dssuef` tbf rcso tbdt mbdklckl

    edroft mak`ctcaks wauh` diifmt praictdjchcty ai bcs jusckfss.

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    D Mdr @fdhfr ck \drtcef. Pbf ]uprfef Maurt ai Mdhciarkcd `fkcf` Eurpbys

    fxmusf. Ck`ff`, tbf mak ctcaks prfvdchckl dt tbf tcef tbf hfdsf wds fxfmutf`,dk` tbf djsfkmf ai dky pravcscak ck tbf hfdsf maktrdmtckl dldckst tbf fiifmt aiwdr, lcvfs rcsf ta tbf ckifrfkmf tbdt tbf rcso wds dssuef` _jy EurpbyU.Pbfsdhf ai dutaeajchfs wds kat ed`f cepasscjhf ar chhfldh jut efrfhy rfstrcmtf`dk` ci lavfrkefktdh rfluhdtcak `afs kat fktcrfhy prabcjct tbf jusckfss ta jfmdrrcf` ak tbf hfdsf` prfecsfs jut akhy hcects ar rfstrcmts ct, tbfrfjy edockl ct

    hfss praictdjhf dk` earf `ciicmuht ta maktckuf, tbf hfdsf cs kat tfreckdtf` ar tbfhfssff fxmusf` irae iurtbfr pfriaredkmf. Hhay` v. Eurpby, :6 Mdh.:` 02(4300).

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    Pbf Jdkorupt Iaatjdhh Hfdluf. Ck 43

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    Pbf Jdkorupt Iaatjdhh Hfdluf.

    d) Pbf ]tdhhcaks sbauh` prfvdch, jfmdusf hfdluf sahvfkmy wds d jdscmdssueptcak ai tbf maktrdmt.

    j) \rclbt sbauh` prfvdch, jfmdusf tbf rcso ai kat jfckl djhf ta usf \rclbts

    sfrvcmfs wds dhhamdtf` ta tbf tfde.

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    Pbf Jdkorupt Iaatjdhh Hfdluf. Pbf if`frdh `cstrcmt maurt ruhf` tbdt tbf tfde

    wds fxmusf` irae pdyckl tbf rfedck`fr ai tbf maktrdmt7 Ka mhdusf cs pravc`f`ck tbf maktrdmt sfttckl iartb tbf pdrtcfs rclbts ck tbf fvfkt Dhdjded ar tbf\arh` Iaatjdhh Hfdluf idchf` dk` tbfrf cs ka fvc`fkmf ai `csmusscakmakmfrkckl tbcs passcjchcty jftwffk tbf pdrtcfs dt dky tcef. Iurtbfr, tbf rcso aijdkoruptmy wds kat fxprfsshy ar cephcf`hy dhhamdtf` ta fctbfr pdrty. Dhdjdedmauh` kat bdvf rfdsakdjhy iarfsffk sumb su``fk `fecsf ai cts tfde dk` tbf

    \arh` Iaatjdhh Hfdluf. Ickdhhy, ct cs uk`csputf` tbdt tbf `cssahvf ai Dhdjdedstfde dk` tbf \arh` Iaatjdhh Hfdluf bds ed`f pfriaredkmf ai tbf rfedckcklukfxfmutf` iaur-icitb ai tbf maktrdmt cepasscjhf. Dhdjded Iaatjdhh Ckm. v.\rclbt, 06: I.]upp. 42: (K.@. Pfx. 43

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    Makmrftf Jdrrcfrs. Pbf Maeeakwfdhtb ai Edssdmbusftts bcrf` lfkfrdh

    maktrdmtar G. G. ^dakfssd Maepdky iar d bclbwdy cepravfefkt pragfmt. Pbfmaktrdmt ckmhu`f` d stdk`dr` pravcscak dhhawckl tbf lavfrkefkt ta fhceckdtf(dk` kat pdy iar) partcaks ai waro irae tbf arclckdh gaj spfmcicmdtcaks tbdt cthdtfr `ftfreckf` wfrf ukkfmfssdry. ^dakfssd sujmaktrdmtf` ta Mbdsf^rfmdst Marpardtcak tbf gaj ai supphyckl makmrftf jdrrcfrs iar tbf rad` ef`cdk.Pbfrf wds ka scechdr pravcscak ck tbf sujmaktrdmt mavfrckl mbdklfs tbf

    lavfrkefkt eclbt hdtfr edof ta tbf pragfmt.

    ]barthy ditfr makstrumtcak jfldk, rfsc`fkts maephdckf` tbdt makmrftf ef`cdkswfrf jfckl usf` ta rfphdmf lrdssy strcps jftwffk tbf twa sc`fs ai tbf bclbwdydk` ichf` d hdwsuct dldckst tbf Maeeakwfdhtb ta stap tbcs cepravfefkt.Dktcmcpdtckl tbdt tbf Maeeakwfdhtb wauh` cssuf d mbdklf ar`fr fhceckdtckltbf makmrftf jdrrcfrs, ^dakfssd tah` Mbdsf ta ceef`cdtfhy stap juch`ckl tbfe.^dakfssd pdc` Mbdsf tbf maktrdmt prcmf iar tbf jdrrcfrs dhrfd`y pra`umf` jutrfiusf` ta pdy earf. Mbdsf suf` dk` mhdcef` tbdt ^dakfssd jrfdmbf` ctsmaktrdmt, fktcthckl Mbdsf ta cts fxpfmtf` praicts ak tbf rfedckckl ef`cdks.]bauh` Mbdsf prfvdch1

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    Makmrftf Jdrrcfrs.

    d) Sfs, jfmdusf ^dakfssd jarf tbf rcso tbdt tbf lavfrkefkt wauh` mbdklf tbfpragfmt.

    j) Ka, jfmdusf tbf rcso ai tbf lavfrkefkt fhceckdtckl dhh makmrftf jdrrcfrs

    irae tbf ef`cdk wds ukdhhamdtf` jy tbf maktrdmt.

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    Makmrftf Jdrrcfrs. Pbf trcdh maurt upbfh` ^dakfssdsirustrdtcak `fifksf. Pbf

    Edss ]uprfef Maurt diicref`. Ct iauk` tbdt tbf hdmo ai d mbdklf pravcscak cktbf sujmaktrdmtf` `c` kat ck`cmdtf tbdt ^dakfssd dssuef` tbf rcso ailavfrkefkt mbdklfs. Zdtbfr, jfmdusf Mbdsf bd` fxpfrcfkmf ck lavfrkefktpragfmts dk` wds dwdrf ai tbf mbdklf pravcscak ck tbf lfkfrdh maktrdmt, tbftrcdh maurt mauh` (dk` `c`) ick` tbdt tbf sujmaktrdmtf` apfrdtf` uk`fr tbf sa-mdhhf` ukct prcmf pbchasapby, ck wbcmb maktrdmtf` prcmfs drf pdc` iar tbf waro

    dmtudhhy dmmfptf`. Pbf maurt dhsa mauh` bdvf (dk` `c`) ick` tbdt tbf pdrtcfs `c`kat maktfephdtf sumb d edgar mbdklf, dk` tbf rcso rfedckf` ukdhhamdtf`.Mbdsf ^rfmdst Marp. v. Gabk G. ^dakfssd Ma., 699 K.F.:` 9>= (Edss 4334).

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    D Mbdklf ck tbf Hdw. Mbdrhfs Jahfy wds mbdrlf` wctb edkuidmturckl

    eftbdepbftdeckf, wbcmb wds d hfvfh 4 `rul ifhaky uk`fr Odksds hdw. Bffktfrf` ckta d phfd dlrffefkt wctb tbf stdtf tbdt mdhhf` iar Jahfy ta phfd` luchtydk` iar tbf prasfmutar ta rfqufst tbf maurt ta `fpdrt `awkwdr` irae tbf sfktfkmcklluc`fhckfs iar hfvfh 4 `rul ifhakcfs dk` sfktfkmf Jahfy ta 02 eaktbs ck prcsak.Jahfy uk`frstaa` tbdt tbf maurt mauh` mbaasf ta clkarf tbf prasfmutarsrfmaeefk`dtcak dk` tbdt tbf phfd wds kat maktcklfkt ak tbf maurt dmtudhhysfktfkmckl bce ta 02 eaktbs. Jahfy phf` luchty, tbf prasfmutar rfmaeefk`f` tbf`awkwdr` `fpdrturf, dk` tbf maurt `c` sfktfkmf Jahfy ta 02 eaktbs.

    ]barthy jfiarf tbf phfd dlrffefkt wds sclkf`, dk ck`cvc`udh (EmD`des) ck dkukrfhdtf` mdsf mbdhhfklf` bcs sfktfkmf iar edkuidmturckl eftbdepbftdeckf aktbf lrauk` tbdt tbcs mrcef sbauh` jf mhdsscicf` ds d hawfr hfvfh ifhaky, efdkckl tbdt

    makvcmtcak wauh` mdrry d sbartfr sfktfkmf. Vhtcedtfhy, EmD`des prfvdchf`. Jdsf`ak tbf EmD`des prfmf`fkt, Jahfy mbdhhfklf` bcs sfktfkmf ds jdsf` ak tbf wraklifhaky mhdsscicmdtcak, dk` tbf maurt ai dppfdhs ruhf` ck bcs idvar dk` rfedk`f` bcsmdsf iar d kfw, sbartfr sfktfkmf, fxpfmtf` ta jf 4< ta 43 eaktbs. Pbf prasfmutartbfk saulbt ta rfsmck` tbf phfd dlrffefkt ak tbf lrauk` ai irustrdtcak ai purpasf.Baw sbauh` tbf maurt ruhf ak tbf prasfmutars eatcak1

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    D Mbdklf ck tbf Hdw.

    d) Ct sbauh` lrdkt tbf eatcak, jfmdusf tbf lavfrkefkts purpasf wdsirustrdtf` ci tbf makvcmtcak uk`fr tbf phfd wauh` mdrry d sujstdktcdhhy sbartfrprcsak tfre tbdk jatb pdrtcfs dssuef`.

    j) Ct sbauh` `fky tbf eatcak, jfmdusf tbf phfd dlrffefkt wds kat jdsf` ak dludrdktff ai dky pdrtcmuhdr sfktfkmf jy tbf maurt dk` jfmdusf mbdklfs ck tbfhdw drf iarfsffdjhf.

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    D Mbdklf ck tbf Hdw. Pbf Odksds Maurt ai dppfdhs ruhf` tbdt tbf stdtfs

    purpasf ck dlrffckl ta tbf phfd `fdh bd` jffk irustrdtf` jfmdusf tbf rfsuhtckl4>6).