Case Studies of Leadership at the CEO Level - Free Essay Example

Sample details Pages: 5 Words: 1398 Downloads: 4 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? Leadership is an influence relationship among leaders and followers who intend real changes and outcomes that reflect their shared purposes. That is, leadership is an influence which a leader shows over his subordinates .The influence is focused to achieve the goal of the organisation. It also involves lot of skills and traits which a leader should have. Don’t waste time! Our writers will create an original "Case Studies of Leadership at the CEO Level" essay for you Create order It includes responsibility, integrity, intention, etc. These traits should influence the subordinates and the colleagues of the leader. Leadership skills need not be born within a person; It can also be developed. Not every leader is born with the leadership skills. Leadership skills can be developed by training or practice. The development and growth of the organisation is purely dependent on the leader and his leadership. The success and the failure of the business is based on the decisions which the leader takes. Mostly the company is managed by the Chief Executive Officers. Why are CEOs very important in an organisation? The Chief Executive Officer is the foundation of any company. They are driven by strong leadership and personal integrity, immense communication skills and with strategic focus on the goal of the company. CEOs are responsible for all the activities right from the starting of the business till its failure. All the decisions regarding the functioning of the business is taken by the CEOs. They head the Operations, Finance and budgeting, marketing, human resource and other departments. Even though there are separate work forces allocated for these departments, it is the duty of the CEOs to decide upon the issues like: setting the target for the business, decisions regarding new products, product lines, fund raising, merger or partnership, hiring and reducing manpower, build corporate culture and organise all the departments and synchronise them to the goal of the organisation. So it is very important that the higher level management takes a careful decision in appointing a CEO. N ow in this Essay let us discuss on the leadership of Carly Fiorina and Dick Fuld. Carly Fiorina: Fiorina started her career as a low level manager in ATT. She was very dynamic in her work and she quickly grasped the attention of the top level management due to this. She showed interest in the tough assignments and tasted the fruit of success in those. She played a very important role in ATTs spin off of Lucent Technologies and was again successful in its operations. She was made the head of the sales and marketing group of lucent technologies. During her period, the stock price of Lucent was increasing but ATTs stock price was reducing. After her continuous success in lucent technologies, she moved to Hewlett Packard as CEO in the year 1999. She was the only outsider, who was appointed by the company as the chief executive officer. Since she was working in the sales and marketing department at ATT, she changed the focus of HP to marketing. She spent about $200 million in the branding and advertisement strategy. And only few women were there in the top level management of He wlett Packard. After she entered the organisation of Hewlett Packard, she concentrated more on the marketing side of the company. She signed many purchase and sales agreement with many big players in various industries. They include Ford Motor Company, Delta Airlines, General Electric, Walt Disney Company and the United States Department of Homeland Security. Prior to her entry as CEO, HPs focus was more on the product development and not on the consumer support. After Fiorina took charge as CEO of Hewlett Packard, she shifted this context of product development to customised software. She has been marked number one in Fortune magazines list of 50 most powerful women for six times. She believed that her leadership was strong in Hewlett-Packard. Dick Fuld: Dic fuld began his career as a commercial paper trader with Lehman Brothers in 1969.During his course of 40 years, Dic saw many changes in the organization. He worked as a CEO of Lehman Brothers from 1994 to 2008. He was the longest tenured CEO on Wall Street during the time of the financial crisis of 2008. He helped the company to successfully cross the financial crisis which occurred at 1997.Dick was very successful during his period as CEO. He tasted the fruit of success when he turned the loss occurred in 1993 to profit of $4.2 billion in the year 2007. Dic Fuld was very conscious about the welfare of his workers. His workers were very highly paid and were very happy to work under his leadership. Dic Fuld was named as Americas top chief executive officer in the private sector by Institutional Investor magazine in the year 2006.In the year 2007; he received a bonus of $22 million. In March 2008, he was given the title Mr Wall Street. Dic has served as one of the board of d irectors of the Federal Reserve Bank of New York. He was a member of the international business council of the World Economic Forum and the Business Council. He also served as the board of directors for the Robin Hood Foundation but due to the bankruptcy of Lehman Brothers , he has been removed from the position. He took huge risk in piling up the mortgages. And he even succeeded in that business. Dic Fuld was very successful in handling the mortgage crisis than his competitors. This made Dic Fuld to underestimate the opponent and overestimate self. And when his company went into bankruptcy, he failed to rescue the firm as he refused for the merger with Warren Buffett and also for the capital injection. During the financial crisis of 2008, Dic refused to resign the office when other CEOs were forced to do quit their job. In December 2008 , Fuld was given the award by Financial Times as Lex Overpaid CEO and thief for receiving $34m in 2007 and $40.5 in 2006, and that too before the banks failure. CNBC named him as the Worst American CEOs of all time. What are the factors that contributed to the meteoric rise of these CEOs? Rise of Carly Fiorina:- As mentioned earlier, Ms Carly Fiorina started as a manager in ATT. She showed interest in her work in sales department. She was very talented and was able to achieve the sales target of the company. She made it a habit to achieve huge targets setup by her company. Due to this kind of attitude towards work, she attracted the attention of the organisation. As a next step in her career, the impressed organisation offered her a challenging position in its new spin off lucent technologies. She was the head of the sales and marketing group of the new company. She had a good moral contact and support with the fellow employees. Due to this type of attitude and leadership in the company, she had the support of the employees. In her leadership, the lucent technologys share price was rising. Her aggressive sale s record made the Hewlett Packard to turn towards her. Carly Fiorina had a good opportunity to move to a higher position in her career. That was a golden opportunity for her to get an offer from Hewlett Packard. But to get it, she had to face lot of obstacles; she was scrutinised in the interview process by the management of Hewlett Packard for the post of Chief Executive Officer. Since she was one of the few female in the organisation, she found it very difficult in the initial stage to cope up with the work force. And the fact is that she was the only outsider, who was appointed as a Chief Executive Officer of Hewlett Packard. And moreover, she was from marketing background. At that period, Most of the top level managers were of the engineering background. Due to her immense potential and hardworking attitude, she was able to overcome these obstacles. She not only focused in the revenue and profit of the company but also on the innovation and development of new and existing pro duct. Fiorina increased the profits by bringing in the radical changes in the organisational focus of the company. She was the most powerful woman in the United States of America. She was very famous for the big risks which she takes regarding the functioning of the business. She was leading the list in the Fortune magazines most powerful women in business for the continuous six years. Rise of Dick Fuld:-

The South Asian Collection Of The Asian Art Museum

The South Asian collection of The Asian Art Museum, in gallery four, houses The Hindu Deity Brahmani [Figure 1], originally from Kanchipuram, Tamil Nadu state and is dated approximately 875-950 AD. The artist is unknown. Her dimensions are 29 X 21 X 10 inches. In Hinduism, Brahmani is the shakti of the god Brahma, the creator of the universe and senior member of the Hindu Trinity, and is one of the seven mother-goddesses that may have been located in the temple of her origin (The Hindu Deity Brahmani). The sculpture was created during the Chola Dynasty, also known as the Golden Age of Tamil Culture, and carved from either granite or hornfels granite. The Dravidian style of art and architecture attained brilliance under the Cholas, and the dynasty’s triumphs are considered the greatest in South Asia containing some of the most beautiful masterpieces ever produced in India (Dehejia, 1990). This sculpture is an excellent representation of this goddess, confirming that the artisti c vision of the Chola dynasty is paramount in Indian art. Equally as stunning, ornate temples were built to house sacred symbols to help Hindu devotees comprehend the incomprehensible. The temple is considered the dwelling place of the deities and sculptures of Hindu gods set there is a visual representation used to generate a sense of reality of the invisible. The temples provided a space for worshippers to perform rituals, leave offerings, touch, and feel the Gods. The purpose of the marvelous artShow MoreRelatedPhiladelphia Museum : A Three Floored Building1173 Words   |  5 PagesPhiladelphia Museum, a three-floored building, has different artwork distributed chronologically, conceptually and according to nationality. 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What really brings thisRead More Visit to the Metropolitan Museum of Art and Viewing the Asian Art Collections1562 Words   |  7 PagesVisit to the Metropolitan Museum of Art and Viewing the Asian Art Collections The Metropolitan Museum of Art has one of the finest Asian art collections that has enlightened and strengthened my understanding in my personal art experience. The Museum itself is an artistic architectural structure that graces the entire block on 82nd Street in Manhattan. Entering inside, I sensed myself going back into an era, into a past where people traded ideas and learned from each other. It is a past, whereRead MoreThe Art Institute Of Chicago988 Words   |  4 PagesThe Art Institute of Chicago is a great place to see the Asian art. The Art Institute receives a four out of five stars. The positives are that there are a huge variety of visual arts to appreciate. The first negatives of the Art Institute of Chicago is that the Islamic Asian art is under developed. There are two pieces that represent Islamic influence Indian art. The second is the expense to visit is high. Parking and admission for someone who lives out of state will cost fifty dollars. There areRead MoreArt Institute Of Chicago Art993 Words   |  4 PagesArt Institute of Chicago Review The Art Institute of Chicago is a great place to see the Asian art. The Art Institute receives a four out of five stars. The positives are that there are a huge variety of visual arts to appreciate. The first negatives of the Art Institute of Chicago is that the Islamic Asian art is under develop. There are two pieces that represents Indian Islamic art. The second is the expense to visit is high. Parking and admission for someone who lives out of state will costRead MoreThe Metropolitan Museum Of Art Has Always Had One Of The2017 Words   |  9 PagesThe Metropolitan Museum of Art has always had one of the most renowned and respected Islamic art exhibits in the western world. 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There are museums in almost every major city in the world and in many smaller communitiesRead MoreThe Los Angeles County Museum Of Art1301 Words   |  6 Pagesa trip to the Los Angeles County Museum. However, I was trapped with the challenging choice of choosing only one museum for my cultural visit. Since, there are so many prodigious and amazing museums to choose from to visit in the county. But, I have heard many great feedbacks about the Los Angeles County Museum of Art from fellow classes mates, friends and family. So, I finally, had my destination set to and planned a v isit to the Los Angeles County Museum of Art. Upon my visit my attention was alreadyRead More australia Essay example1484 Words   |  6 Pageslargest country in the world. It lies in the Southern Hemisphere between 11 ° and 44 ° south latitude and 113 ° and 154 ° east longitude. The entire area of land is about the same size as the continental United States, or about one and a half times the size of Europe. The mainland of Australia has an area of 2,967,909 square miles. The country is divided into six states: Queensland, New South Wales, Victoria, Tasmania, South Australia, and Western Australia. The geological activity that created the country’sRead MoreWsj Case1192 Words   |  5 Pagesamount of Latinos as its primary international race. However, the Asian population has accounted for 8% of Florida’s international property buyers in the year of 2014, of those, 2% belong directly to the Chinese economy. On a much larger scale though, the entire Chinese market for international buyers within the United States comes to a staggering 16% according to the National Association of Realtors during the 2014 data collection. It is no wonder that the developers and marketers in charge of the

Depression And The Card Diversion Essay - 1475 Words

Loneliness makes individuals troubled and can leave voids; depression can drive individuals to numerous psychological issues. hose voids with numerous unfortunate kinships, connections, and propensities. The book  ¨Of Mice and Men ¨ gives a look at how it carrying on with the farm life in the 1930 s could get amazingly forlorn. People attempted to discover approaches to get away from their depression amid that time by creating companionships and connections; even unfortunate ones. There were three fundamental characters that show confirmation of this. Every one of the three characters indicate how loneliness can drive you to second thoughts, dreams, sacrifice, He utilizes names and words, for example, the town close to the farm called Soledad, which shows depression and the card diversion Solitaire Which implies by oneself. He makes it clear that every one of the men on the farm are desolate, with specific individuals lonelier than others. In the opening part, Steinbeck presents the possibility of depression and men who chip away at farms living transitory lives, with no point in life. Steinbeck utilizes the setting to pass on these thoughts. As they were strolling along the way, it is depicted as a way thumped by hard young men originating from the farms to swim in the profound pool, and beaten hard by tramps who come tediously down from the interstate at night to wilderness up close water (p.18) This makes a setting and shows how men who chip away at the farm haveShow MoreRelatedAnalysis Of The Book The Round Oak Essay1576 Words   |  7 PagesItems for sale at the confectionery, in addition to those listed in the centennial narrative, included over-the-counter medical and veterinary supplies, toiletries, greeting cards, knick-knacks, and holiday specific novelties. 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Now or Never - 870 Words

Now or Never â€Å"When should we leave? Should we leave now?† I said to my friends Sean, Charlie, Nick, Ben, Megan, and Melanie. We were on our second day of spring break, in our high school senior year, getting ready to hit the road and get on our way to Destin, Florida. It was a frantic time before we were actually on our official way. Of course, it was traffic hour when we all decide to leave, that just added to the chaos. We weren t going on this trip alone though, we were going with a whole flock of people. There were seven parent chaperones and about fourteen other friends/ siblings and a couple of their friends too. With all of these people we obviously weren t going to fit into one car. We took three cars between all of us. and†¦show more content†¦We were slammed packed, but we were all young and nimble. We all loved each other dearly; we were all best friends. Now we have all the pieces to our puzzling friends together, and I finally caught back up to the rest of the caravan by dusk. It took us twenty-two hours to make it there. We had twenty-two hours left. Once we were there the wild times times began to brew. The guys and the girls each had their own condo, that alone I think says a lot about the mood of the trip. It was party party from the moment we arrived in Florida. Day three of the trip, I was enjoying some adult beverages since I was on vacation. Drinking is something we would do as a family when we went on vacation, mostly wine though.This time it was vodka and coconut rum, and just enough to make me feel great. In my mind, I was on top of the world. My buddy Sean’s parents rented a three wheel motorcycle/go-cart hybrid that I knew I could drive. Sean’s little brother drove it away from his parents with me in shotgun, aka the passenger s seat. This thing drove like a motorcycle, so I thought it could handle like a motorcycle. 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Why is it important for the external auditor to be independent free essay sample

Throughout the years, banks, shareholders, possible investors and creditors always relied on the financial statements produced by a company. Since the management of a company is producing these documents it has been assumed that the managers may act dishonestly so that their performance looks better. To monitor the company’s performance better the directors along with the shareholders employ external auditors to check all these financial statements for both intentional and unintentional errors. Therefore, external auditors have no motivation to produce dishonest reports, hence they are regarded as being truly independent. But can they actually be independent when their current and probably future fees are determined by the board of directors and knowing that a negative report may reduce or completely cease their future income flow? What if there is built-up loyalty or some personal relationships between the auditors and the audited company? What is the primal role of external auditors? Before proceeding further, it is important to note that an audit has any value to the financial statements’ readers, so long as the auditor is both technically competent (qualified enough to uncover significant errors) and truthful (All mistakes are corrected and presented to the public). For all the further contemplation, auditors are assumed technically competent. First of all, the primal role of an audit body is monitoring and examining financial statements. It is to serve to all financial statements readers as a reassurance on the truthfulness and reliability of these documents. Hence the external auditor has to act in an independent honest fashion. But even if he is economically independent, why should the auditor act honestly? Independence is an attitude of mind, it is the person’s independent viewpoint that protects him from being influenced and pressured by his clients. There are two groups of auditors, concerning ethical reasoning: These who take into consideration the consequences of their actions (consequentialists) and these who analyse the moral quality of the action, no matter how dreadful the consequences can be (deontologists). The latter will always be honest, while the consequentialists may occasionally produce dishonest reports. However, when economic dependence is taken into consideration (since the clients are the one who pay) the consequentialist becomes rational self-interested auditor, who tries to maximize his own economic wealth and minimize the risk related to this future income (there is a risk of being sued for negligence if the report is found to consist any significant errors). What is interesting here is that to avoid risk from being sued, the auditor may undertake additional work, hence better quality of the report. Another point worth mentioning is that different audit firms have different quality reputations- some are paid more, some less. To go further the auditing as a profession has the benefits of self-regulating monopoly, since all the regulations are made by recognised supervisory bodies (organisations whose members are all auditors or accountants) with little interference from the Government. Therefore all auditors are connected and their decisions affect the whole industry. An auditor should be independent because not only does he expose himself to risk of being sued and reducing his firm reputation but also bears responsibility to the whole audit profession. Besides auditors, the one who pays the price of fraud are shareholders, employees and sometimes even the society. There are many examples when dependent auditors concealed fraud, and the results are always disastrous, examples such as WorldCom, Enron, Rita Aid and Tyco. But let’s see what happened in the 6th largest cable operator in US- Adelphia. In the beginning of the 2002 Adelphia Communications Corporation was found guilty for fraud, amounting to 2. 3 billion dollars of concealed liabilities. The SEC (The Securities and Exchange Commission) distinguished 3 types of fraud- Hiding debt, misleading information concerning the performance of the corporation and many deceitful omissions. Deloitte was providing Adelphia with external Audit for more than 15 years, but suddenly (in the end of 2001) they stopped working, claiming that the information provided by Adelphia was unreliable. After the criminal investigation conducted by the SEC, Deloitte was accused of negligence, deception and failure to reveal fraud. According to the SEC (2005), the results are â€Å"Deloitte Touche LLP has agreed to pay $50 million to settle charges stemming from its audit of Adelphia Communications Corporations fiscal year 2000 financial statements. † Although Deloitte wasn’t pronounced guilty, it is obvious that they could have easily detected and disclosed the omissions and fraud that they could have found. If that had happened, probably the scale of this catastrophe would have been smaller and Adelphia wouldn’t have gone totally bankrupt. This case inevitably shows us the importance of independent auditing. Another threat to the independence of the auditors is a phenomenon which took place around 3 or 4 decades ago. During that time the number of firms which required audits stopped expanding, the codes that prohibited advertising accounting firms were abolished, which enabled all these firms to steal market from each other. Furthermore, a lot of audit bodies engaged into consulting, bookkeeping assistance, investigation and tax advices. This trend resulted in accounting firms gaining more revenue from consulting practices than from their main role in the society- monitoring and overseeing financial statements. Thus this led to a great conflict of interests, since consulting firms are supposed to be dependent and in good relationships with their clients but on the other hand audits should be carried in an independent manner. However, ‘money makes the world go round’ and auditors were reluctant to perform strict audits because they risk losing sufficiently more income than before, so they lost their independence to a great scale. Typically, this loss of independence was followed by the Enron and Arthur Andersen great failures. Not surprisingly, the public’s trust and confidence in accounting firms started to vanish in a fast pace. Fortunately, The Sarbanes-Oxley Act of 2002 forbid audit companies to offer both consulting and auditing services to the same firm, which helped improving the independence. Nowadays, the act is still in power and audit providing firms have the choice whether to provide auditing or consulting to publicly held companies. An interesting, really recent example of playing with fire, with regards to The Sarbanes-Oxley Act of 2002, is the business alliance between PwC and Thomson Reunters in China. While according to U. K. regulations and U. S. law business coalitions between and auditor receiving company and the auditor itself are forbidden, it has just been announced that Thomson Reunters (audited by PwC) has already signed a contract with PwC to provide PwC with corporate tax technology in China. Apart from that, Thomson Reunters provides PwC U. K. with software for dealing with tax clients. According to Francine McKenna (2012), Forbes, â€Å"It’s not known if PwC receives any financial incentives or special considerations for its exclusive use of Thomson Reuters software to provide tax services to its clients in China and the U. K. PwC did provide a significant amount of tax services to Thomson Reuters as part of its audit. † In this case it is not sure if there are any distinct violations. Maybe there is a slight chance that this will be the next big failure, maybe not. What is for sure is that close business relationships tend to have negative influence on independence. In summary, the primal role of an external auditor is to provide an independent assessment of a company’s financial statements. His assessment is an assurance to the readers of the financial statements, that these statements are fair and true, free of significant errors and misleading information. It is of utmost importance that the audit performer is truly independent, to have an independent attitude of mind, because, otherwise, under the pressure and influence of his clients, the auditor may act in a dishonest fashion. Every disclosure of fraudulence has detrimental effect not only on the auditing company or the auditor who produced the report, but on the audit profession, as a whole. The auditor’s economic interest reduces his independence and can cause conflict of interests, which can result in dreadful failures and catastrophes. There are many regulations that try to protect auditor independence by limiting and decreasing the auditor’s economic interest. So it is important for an external auditor to be independent because in the end, the cost of fraudulent report is paid by all people engaged to the examined company, sometimes it is even paid by the society.

Commercial and Company Law Regards of Advertising

Question: Describe about the Commercial and Company Law for Regards of Advertising. Answer: Solution There are three basic problems that are raised in the given scenario: Solution 1 Law of contract Issue Is there a valid contract between Vanessa and Nikhil car sales Pty. Ltd? Law The question raised relates to the law of contract. A contract is said to be formed between two persons when there is an offer made by an offeror and the same is accepted by another person known as offeree[1]. But only an offer and an acceptance does not brings a contract into existence as there must be presence of consideration, intention and capacity of parties to make a valid contract[2]. An offer is an intent to carry out certain acts or inactions desired by one person (offeror) which is communicated to another person (offeree) with a desire of consent[3]. However, an invitation to treat is not an offer, rather, it is an invitation to invite offers from persons and upon receiving offers the same might be accepted or rejected by the person inviting the offer. In Pharmaceutical Society of Great Britain v Boots advertisement ware considered as invitations.[4] An acceptance is said to be made when the offer is assented to by the offeree upon the terms contained in offer. An acceptance must be same as an offer[5]. A consideration is the value which is paid in return for the performance of the promise by one party to the other [6]. The parties to the contract must have capacity i.e. they must be of sound mind and major. There must be intention to be in legal relation with each other by the parties. Generally presence of legal intention is presumed to be there are commercial contracts and absent in domestic/ social contracts unless otherwise proved[7]. All the elements are necessary to formulate a valid contract[8]. Now, the law is applied to the given factual scenario. Application Nikhils Car Sales Pty Ltd gave an advertisement regarding sale of Mazda. In the ewspaper it was stated Used car sale. Unbeatable offers on 3-year old models. Low kilometres. 12-month warranty. Vanessa wanted a car and visited Nikhils Car Sales Pty Ltd and liked a yellow Mazda. She notes that the odometer showed that the car had run 75,000. The salesman further told her: Personally, I think this one is the best of the lot. Vanessa tells that she can pay $9,500 cash Nikhil assents to the same. Nikhil prepares sale document but here is no mentioning of warranty over it and Vanessa signs the same. Three months later car had slipping out of gear mechanic tells her that repairing that will cost her $2,500. And moreover the mechanic from the service record shows actually the car covered 175,000 kilometres. The advertisement in the newspaper by Nikhils Car Sales Pty Ltd was an invitation to treat as held in Pharmaceutical Society of Great Britain v Boots (1953). Thus an offer was made by Vanessa upon the same and was accepted by Nikhil. Furthered, the parties are capable and intent to create a legal relationship with a valid consideration of $9500. So all the elements of contract that is an offer its acceptance, consideration, intention to be in legal relation and capacity are present. Conclusion So there is a binding contract in the instant case. Solution 2 Law of Misrepresentation Issue Can Vanessa claim anything from Nikhil car sales Pty. Ltd. under common law? Law The question raised relates to the common law of misrepresentation. Whenever a contract is entered between the parties and one of the parties while entering into a contract misrepresents or deceives the other party then in that case the other party can sue the defaulting party under common law. Remedies under Common Law Misrepresentation exists in common law when one party knowingly makes a false statement to another party in order to mislead that other party and persuades him to enter into contract with such mislead party on the basis of such false statement. The various elements that are mandatory for establishing misrepresentation are[9]: The statements made must not be future statements and they must pertain to present or past only[10]. The statements in the form of opinion are not misrepresentations[11]. The party who makes a false statement must have knowledge that the same is false[12]. The statements must be made with the intention to influence the other party to give its assent to the contract[13]. A party who had been misrepresented can rescind the contract and also has the right to claim damages[14]. Now, the law is applied to the given factual scenario. Application A contract was made between Vanessa and Nikhils Car Sales Pty Ltd but still there are remedies which Vanessa can avail the common law as she had been misrepresented by Nikhil. She was told that the car had run 75000 but in fact it had 175000 which was the major reason for purchase of instant car by Vanessa. Hence a factual statement was made to induce her to make a contract. Moreover about the opinion of the salesperson that this was the best in lot would not be covered under misrepresentation as it was an opinion and hold no value. Conclusion So, has right to rescind the contract and can claim damages in instant case. Solution 3 Section 18 of the ACL Issue Can Vanessa claim anything from Nikhil car sales Pty. Ltd. under Australian Consumer Law? Law The question raised relates to section 18 of the Australian Consumer law. If there is misleading conduct by any party then the Australian Consumer Law (ACL) incorporates the liabilities that can be imposed upon such breaching party. As per Section 18 of the ACL, the parties while in trade and commerce should not engage themselves in deceptive or misleading conduct. The elements which are necessary to establish that the party had mislead are[15]. The statement can be written or oral one. The statement must relate to commercial transactions. Silence does not amounts to misrepresentation unless otherwise is proved[16]. In case the party who is being deceived knows that it is being misrepresented then the above section does not applies[17]. As per case law of Yorke v Lucas (1985) in case there is no intentional deception by any party and the other party suffers then in that case the section does not applies[18]. This section does not apply when the deception relates to future transaction and only applies to past and present events. In case of violation of section 18 of the Australian Consumer law the following consequences may follow:[19] As per section 236 of Australian Consumer law damages can be seeked by the suffering party. As per section 243(2) of Australian consumer law the suffering partty may get ancillary orders against the deceiving party. The suffering party can get its money refunded. The suffering party can get declaration regarding the contrcat as void from court and can get avoid the contract entered into by it with he deceiving party. As per section 232 to 236 of Australian Consumer Law the suffering party can get injunction orders from court. Now, the law is applied to the given factual scenario. Application As per statutory law i.e. Australian Consumer Law Vanessa has certain rights. As per section 18 of Australian Consumer Law, Nikhils Sales Pty Ltd deceived Vanessa and gave her wrong information about the previous run of car which leads to purchase of that car by Vanessa. The same was done in trading with Vanessa by Nikhils Sales Pty Ltd. So Vanessa has rights and remedies as per section 18 of the Australian Consumer Law in which she can avoid the contract and claim from Nikhils Sales Pty Ltd. Also apart from other remedies in said section as stated. Conclusion It can be stated that Vanessa has rights under statutory law and Nikhil will have to pay for the deception on its part and Vanessa will be able to rescind the contract entered with Nikhil as per law stated above.