Ancient examples[ edit ] A possible early concept which later developed into what today is understood as a trust related to land. An ancient king settlor grants property back to its previous owner beneficiary during his absence, supported by witness testimony trustee. In essence and in this case, the king, in place of the later state trustor and holder of assets at highest position issues ownership along with past proceeds to the original beneficiary: On the testimony of Gehazi the servant of Elisha that the woman was the owner of these lands, the king returns all her property to her.
It defines risk as: Exposure to the possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility.
This definition, using project terminology, is easily made universal by removing references to projects. The possibility that an actual return on an investment will be lower than the expected return. A situation where the probability of a variable such as burning down of a building is known but when a mode of occurrence or the actual value of the occurrence whether the fire will occur at a particular property is not.
The probability of a loss or drop in value. Trading risk is divided into two general categories: Also called market risk. Also called non-market risk, extra-market risk or diversifiable risk. Product of the consequence and probability of a hazardous event or phenomenon.
For example, the risk of developing cancer is estimated as the incremental probability of developing cancer over a lifetime as a result of exposure to potential carcinogens cancer-causing substances. In this definition, uncertainties include events which may or may not happen and uncertainties caused by ambiguity or a lack of information.
It also includes both negative and positive impacts on objectives. Many definitions of risk exist in common usage, however this definition was developed by an international committee representing over 30 countries and is based on the input of several thousand subject matter experts.
Other[ edit ] Very different approaches to risk management are taken in different fields, e.
Risk can be seen as relating to the probability of uncertain future events. In computer science this definition is used by The Open Group.
References to negative risk below should be read as also applying to positive impacts or opportunity e. The related terms " threat " and " hazard " are often used to mean something that could cause harm.
Practice areas[ edit ] Risk is ubiquitous in all areas of life and risk management is something that we all must do, whether we are managing a major organisation or simply crossing the road. When describing risk however, it is convenient to consider that risk practitioners operate in some specific practice areas.
Economic risk[ edit ] Economic risks can be manifested in lower incomes or higher expenditures than expected. The causes can be many, for instance, the hike in the price for raw materials, the lapsing of deadlines for construction of a new operating facility, disruptions in a production process, emergence of a serious competitor on the market, the loss of key personnel, the change of a political regime, or natural disasters.
Health[ edit ] Risks in personal health may be reduced by primary prevention actions that decrease early causes of illness or by secondary prevention actions after a person has clearly measured clinical signs or symptoms recognised as risk factors. Tertiary prevention reduces the negative impact of an already established disease by restoring function and reducing disease-related complications.
Ethical medical practice requires careful discussion of risk factors with individual patients to obtain informed consent for secondary and tertiary prevention efforts, whereas public health efforts in primary prevention require education of the entire population at risk.
In each case, careful communication about risk factors, likely outcomes and certainty must distinguish between causal events that must be decreased and associated events that may be merely consequences rather than causes.
In epidemiology, the lifetime risk of an effect is the cumulative incidencealso called incidence proportion over an entire lifetime. Health, safety, and environment HSE are separate practice areas; however, they are often linked.
The reason for this is typically to do with organizational management structures; however, there are strong links among these disciplines. One of the strongest links between these is that a single risk event may have impacts in all three areas, albeit over differing timescales. For example, the uncontrolled release of radiation or a toxic chemical may have immediate short-term safety consequences, more protracted health impacts, and much longer-term environmental impacts.
Events such as Chernobyl, for example, caused immediate deaths, and in the longer term, deaths from cancers, and left a lasting environmental impact leading to birth defects, impacts on wildlife, etc.cases are often mentioned under more than one topic, Family law – Parent and child – Access to child.
Mini Summary: the parent in whose care the child is, no longer has the locus standi to claim payment of maintenance on behalf of the child.
case no. / e du p in the supreme court of south africa (appellate division) in the matter between: the cabinet of the transitional government for the territory of south west africa appellant and ulrich detlef stephan eins respondent.
coram: rabie acj, jansen, van heerden, hefer et grosskopf jja. Jul 06, · (1) If at any time there should not be a quorum of the Judges of the Supreme Court available to hold or continue any session of the Court, the Chief Justice of India may, with the previous consent of the President and after consultation with the Chief Justice of the High Court concerned, request in writing the attendance at the sittings of the Court, as an ad hoc Judge, for such period as .
DEVICE 'DEVICE' is a 6 letter word starting with D and ending with E Crossword clues for 'DEVICE'. Guest post by Ruth M. Mestre i Mestre, Human Rights Institute, University of Valencia.
The G.J. v. Spain Decision (App. no.
/12) shows many of the problems victims of human trafficking encounter to access justice. It is, sadly, one of those cases where formalities swallow justice, since the outcome could have been totally different had. India is militarily engaging a state actor from the soil of a third country over a piece of land its partner country does not even control.
Not even the mighty US does that.