Monday, February 24, 2020

Water Cycle Assignment Example | Topics and Well Written Essays - 500 words

Water Cycle - Assignment Example The water then return to the ground inform of liquid (rain) or solid (snow, sleet) precipitation. The water that results from the rain flows back into rivers as surface runoff and groundwater. The stages involved in the water cycle include evaporation, condensation, precipitation, and runoff and groundwater flow. Evaporation occurs when the sun radiant energy heats up the water from the surface changing it into vapor. The vapor enters the atmosphere in a gaseous form. Transpiration is also part of the process whereby plants releases water through the leaves after intake in the roots. When both evaporation and transpiration occur, evapotranspiration emerges (Gardner, 2011). Evaporation acts as a purification process. The salty water from the sea or ocean evaporates into steam that is pure water. After the clouds form, the water drops from the atmosphere in form of rain, snow, hail or sleet in a process called precipitation. Clouds are an important part of the precipitation process because raindrops are the drops of the cloud that had condensed from vapor. As condensation adds more water to the cloud particles, gravity pulls them down which results into precipitation. When the rain hits the ground, much of the water infiltrates into the ground becoming groundwater. This will depend on the terrain where the rain drops. If the surface has more openings (cracks, joints), then more infiltration will occur. However, if the water does not infiltrate the soil, then it flows on the surface as runoff. The water flows into rivers that later empties back into the ocean and the whole water cycle begins again. UAE is a country with hyper-arid climate that is associated with high temperatures and infrequent irregular low rainfall. This means that it experiences high evaporation that lead to less rainfall and therefore low groundwater. The water cycle therefore does not favor much the country that meant that they had to

Saturday, February 8, 2020

Gharar in Islamic Law Assignment Example | Topics and Well Written Essays - 2500 words

Gharar in Islamic Law - Assignment Example Finally, even if the relevant agreements amounted to agreements to pay Riba, the principal sums advanced could validly be claimed (Usmani, 2001). Hence, Murabaha Agreements should be in accordance with Islamic law, all that is required is certification by Islamic Bank’s Religious Supervisory Board and the principal amounts are dispensed in accordance with the terms of Murabaha Agreements (Usmani, 2001). The Gharar contains uncertainty in a contract or sale where the goods may or may not be available (the bird in the air or the fish in the water). It shows ambiguity in the consideration or terms of a contract. As such the contract would not be void. An example tainted with Gharar is an agreement to sell goods which have already been sold (Vogel and Samuel, 1998). This paper finds Gharar in depth in three contracts. The three contracts that I have analyzed in this paper are about car, property and stocks. The Bank has followed the methods of Islamic banking while still Gharar ca n be found in them. Elements of Riba and Gharar are present in the contractual documents. The transactions if carried out under the mentioned products (cars, stocks and property) require Murabaha Financing. The important ingredients of the Murabaha Financing Agreement are The Preamble: it is an integral part of the agreement; Definitions: incorporation of the terms: a) Account b) Agency Agreement c) Agreement d) Client Financials e) Declaration f) Due dates g) Goods h) Murabaha Account i) Purchase Price j) Security k) Security Deposits; Purchase and Sale Agreement; Mode of Payment; Representation of the Client; Representation of the Institution; General Covenants of the Client; General Covenants of the Institution; Warranties of the Institution; Security; Risk of Loss; Takafol; Damages; Governing Law and Jurisdiction; Set off; Acceleration; General; Execution of document by the Counterparts ( The Institution and The Client); Dated; Witnesses; Schedule of Documents: a) Agency Agreeme nt b) Declaration c) Promissory Note d) Description of Security (Ghafoor, 1995). Murabaha Finance Agreement for Car The first contract is about Murabaha Finance Agreement for car. The contract is about a client bank agreement on buying a car in instalments but there are several conditions for the client, which he has to adhere in order to get the car. A down payment is given after which, monthly instalments are fixed for the customer. As this is a Murabaha contract, therefore it is essential to know about Murabaha. Murabaha is a term in Islamic Fiqh and it refers to a particular kind of sale having nothing to do with financing in its original sense. If a seller agrees with his purchaser to provide him specific commodity on a certain profit added to his cost it is considered Murabaha transaction. The basic ingredient of Murabaha is that the seller discloses the actual cost he or she has incurred in acquiring the commodity and then adds some profit thereon. This profit may be lump sum or may be in fraction (Al-Qardawi, 2001). In conventional financing, the financier lends money to the client on interest. After giving the interest bearing loan, the financier has nothing to do with its usage. In the case of Murabahah no money is advanced by the financier. Instead the