3 resultados para Reservations

em CentAUR: Central Archive University of Reading - UK


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This paper is the second of two papers which aim to examine the major legal liability implications of changes to the commercial property loan valuation process caused by the recession in the UK property market and to make recommendations to valuers and their professional institutions to improve the quality of the process and the result. The objectives of this paper are to address a number of the practical implications of changes to the loan valuation process within the context of legal liability. The results of an interview survey of lenders and valuers are reported and analysed. The survey examined the loan valuation process including the selection and instruction of valuers, bases of valuation and valuation reporting. In the selection and instruction process, the findings of the survey reveal two potential problems within the valuer/lender relationship. First, valuers still occasionally accept instructions from borrowers and this could lead to a conflict of interest as lenders may rely on the survey. Second, the occasional lack of formal instructions prior to the delivery of reports casts doubt on the valuer’s ability to correctly identify the needs of clients. Regarding the basis of valuation, it was found that valuers are providing valuations on bases which they do not think are appropriate. Valuers may be legally liable if they do not inform clients of their reservations and this situation must be urgently addressed. The survey also confirms previous research that valuation reports are considered to be light on contextual information concerning markets. The paper concludes by making a number of specific recommendations concerning possible improvements to the commercial property loan valuation process.

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Paul Crutzen (2006) has suggested a research initiative to consider whether it would be feasible to artificially enhance the albedo of the planet Earth to counteract greenhouse warming. The enhancement of albedo would be achieved by intentionally injecting sulfur into the stratosphere. The rational for proposing the experiment is the observed cooling of the atmosphere following the recent major volcanic eruptions by El Chichon in 1984 and Mount Pinatubo in 1991 (Hansen et al., 1992). Although I am principally not against a research initiative to study such a potential experiment, I do have important reservations concerning its general feasibility. And its potential feasibility, I believe, must be the key motivation for embarking on such a study. Here I will bring up three major issues, which must be more thoroughly understood before any geo-engineering of climate could be considered, if at all. The three issues are (i) the lack of accuracy in climate prediction, (ii) the huge difference in timescale between the effect of greenhouse gases and the effect of aerosols and (iii) serious environmental problems which may be caused by high carbon dioxide concentration irrespective of the warming of the climate.

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I summarise certain aspects of Paul Feyerabend’s account of the development of Western rationalism, show the ways in which that account is supposed to run up against an alternative, that of Karl Popper, and then try to give a preliminary comparison of the two. My interest is primarily in whether what Feyerabend called his ‘story’ constitutes a possible history of our epistemic concepts and their trajectory. I express some grave reservations about that story, and about Feyerabend’s framework, finding Popper’s views less problematic here. However, I also suggest that one important aspect of Feyerabend’s material, his treatment of religious belief, can be given an interpretation which makes it tenable, and perhaps preferable to a Popperian approach.