Connect with us

Finance

Bank Repossessed Motorcycles – Buying the Best Bikes Repossessed by Banks

Avatar Of Rajesh Khanna

Published

on

Buying bank repossessed motorcycles is one of the best ways for you to start cruising along the highway with your own dream bike. These units are recovered by various financial institutions from previous owners who failed to meet their financial obligations; consequently, they recovered the collateralled units in order to minimize their losses and sold them at auction places.

Depending on the state of the unit, most bank repossessed motorcycles are in great condition; however, you still need to make an actual inspection of the bike in order to properly make a good valuation of the item. The fact that you are planning to get this type of vehicle means that you are also well familiar with its features, specifications and working condition; in this case, you can apply your skills and knowledge about this vehicle and make competent assessment on its condition.

If you are not well familiar then it is best to bring along an expert to inspect the item for you. One of the great benefits that you will get from bank repossessed motorcycles is that you get the chance to buy them at incredibly low price. Considering the fact that most financial institutions incur higher cost on storage of recovered units, they always make it a point to immediately dispose them as soon as possible to minimize expenses and save the vehicles from further depreciation that will lower their value; hence, they offer them at much reduced prices. This creates an excellent chance for you to own them at lower cost on your part which can easily fit in to your projected budget.

There are many ways to gain access to these vehicles; one of the best ways is to visit the bank and request more detailed information about their recovered items. Another method is to visit several auction sites where most of these bikes are placed on auction for people to bid on. And still another option for you is to go online and check some websites that offer to give you access to their database of recovered items from various institutions and government agencies.

In any case, you should always remember to make an ocular inspection of the item in order to fully assess its real value and get the best deal of your acquisition of bank repossessed motorcycles.

Advertisement

Finance

Top 10 Video Conferencing Software Must Have Features

Avatar Of Rajesh Khanna

Published

on

Video conferencing Software

The term network marketing is often linked to businesses that coerce you, to sell to all you friends so that you end up with no friends. Sorry to be so blunt, but that is, what the general understanding of what network marketing is.

But what if you had a product that is tied to business productivity and is a tool that people are using all the time.

If I said videoconferencing to you instead of network marketing perhaps your eyes would not roll into the back of your head. So, if the product had a network marketing element and a business productivity element, you’d be getting the best of both worlds.

Business and network marketing connections.

As a business owner or in the chain of command, as something that can boost your business and save transport and meeting costs, Web video conferencing has a place in your business.

So what is Web videoconferencing, how does web videoconferencing work, well as the name suggests, It’s a way to communicate via the Internet or World Wide Web.

What are the tools needed for this way of communicating? this is what differentiates a good Web conferencing software from a bad one. Basically, what is needed is a computer, and Internet access.

You may need a WebCam with an inbuilt microphone, depending on the top of conference you want to hold. A good solution is competent software that takes all the expensive items away for you, for a very low minimal fee on a monthly basis

Types of desktop video conferencing software.

If live video conferencing is not necessary, and you just need audio, your Internet connection speed is not so important, but with high speed broadband increasingly available you can do both. With using a dedicated conference room you can conduct a meeting between executives and all personnel with very little technology.

VoIP software is understood well by most people, with Skype being a tool that is used, and would generally be seen to be the leader. But with a business security mind, you need something more secure.using a dedicated conference room powered by a leader in the industry you will be able to get all the tools that are necessary.

What is the gold standard for videoconferencing rooms

  1. AUDIO/VIDEO CONTROLLERS /TALK NOW Click to enable voice to be broadcast to members logged into your conference room.
  2. MODERATOR FUNCTIONS hands-free mode, new current speaker mode, remove current Speaker. Remove guest speaker from chat room, text message all guests,Moderator can issue moderator functions to end-user
  3. MEMBERS Lists all guests present in room / Take live on the spot poles
  4. ACCESS TO SHARED FILES Send files to guests in room
  5. 1-1 FULL DUPLEX Enable moderator to go into a private video and audio conversation with an end user.
  6. DESKTOP SHARING Moderator can display desktop to end users
  7. FLAGS Moderator can see country flag to members location
  8. PRESENTATION Converts and presents your Power Point
  9. SHOW Live streaming video / Broadcast video and movies to your end-users
  10. RECORD Moderator can record full audio/video of presentation

A big issue is to ensure the software is COMPATIBLE WITH ALL OPERATING SYSTEMS Windows/Linux/Mac. Usually Web conferencing allow important communication for people on the go to keep up with the office or down line communication. If understood and implemented properly, office productivity and business profits will be helped by the adoption of this technology, welcome to the 21st century

Continue Reading

Finance

Doctrine of Accord and Satisfaction

Avatar Of Rajesh Khanna

Published

on

Doctrine of Accord and Satisfaction

Accord and satisfaction is the purchase of the release from an obligation, whether arising under contract or tort by means of any valuable consideration not being the actual performance of the obligation itself. The accord is the agreement by which the obligation is discharged. The satisfaction is the consideration which makes the agreement operative. The consideration may be executory.

Under English law, an accord without satisfaction is of no effect. In Indian law, an accord is an agreement, there must be consensus ad idem; its validity liable to be judged by the general law of contract quite apart from the provisions of sections 62 and 63 of the Indian Contract Act, 1872.

A liability arising out of breach of contract may be discharged by the doctrine of accord and satisfaction. An accord is an agreement made after breach whereby some consideration other than the legal remedy is to be accepted by the party not in fault, followed by the performance of the substituted consideration.

The question is, whether an arbitration clause in a contract survived despite the purported satisfaction of the terms of the contract. Normally, an accord and satisfaction by itself would not affect the arbitration clause for even rights and obligations of the parties are worked out, the contract does not come to an end. If the dispute is that the contract itself does not subsist, the question of invoking the arbitration clause may not arise. But in the event it be held that the contract survives, recourse to the arbitration clause may be taken.

The doctrine of accord and satisfaction has many underlying principles, including the acceptance of a lesser sum and acceptance of any satisfaction. The Privy Council gave its views on the doctrine in Payan Reena Saminathan v. Puna Lana Palaniappa [41 IA 142]. The doctrine and its usage in India have been derived from the American Common Law.

BACKGROUND OF THE DOCTRINE

Section 63 of the Indian Contract Act allows a party to a contract to dispense with the performance of the contract by the other party, or to extend the time of performance or to accept any other satisfaction instead of the performance.

According to Section 62 of the Indian Contract Act, on the other hand, every person who accepts a proposal may dispense with or remit wholly or in part, the performance of the proposal made to him which he has accepted, or may extend the time for such performance or may accept instead of it any satisfaction which he thinks fit.

In accordance with section 62 and section 63 of the Indian Contract Act, 1872, the party who has the right to demand the performance may:

(i) dispense with or remit the performance; or

(ii) extend the time for performance; or

(iii) accept any other satisfaction instead of performance.

The sections 63 and 62 must be construed so as to not overlap with each other. This can be done by holding that agreements referred to in section 62 are agreements which more or less affect the rights of both the parties to the contract discharged by such agreements. Those referred to in section 63 are such as to affect the right of only one of the parties.

The former case necessarily implies consideration, which may be either the mutual renunciation of right, or, in addition to this, the mutual undertaking of fresh obligations, or the renunciation of some right on the one side and the undertaking of some obligation on the other. It is only when the agreement to discharge affects the right of only one party that consideration might be found wanting. There alone the Indian law departs from the English law by making provisions for every such possible case in section 63. The result is that the agreement set up by the defendant which falls under section 63 is binding, though without consideration.

This section enables the defendant in a suit filed by the promise, dispensing or remitting performance or accepting satisfaction and subsequently trying to enforce, the promise made to him, to plead that he was relieved from performance that which the plaintiff told he need not do. It has been held, in the case of New Standard Bank Ltd. v. Probodh Chandra Chakravarty [AIR 1942 Cal 87], that an agreement made between the parties after the breach of contract may be enforced under this section.

Difference from the English Contract Law:

Under the English law, it is competent for both parties to an executor contract by mutual agreement, without any satisfaction, to discharge the obligation of that contract; in other words, reciprocal promises are a sufficient consideration for each other, so are reciprocal discharges. A contract rescinded by an agreement, stands completely discharged and cannot be revived.

But an executed contract cannot be discharged except by release under seal, or by performance of the obligation, as by payment where the obligation is to be performed by payment. Subject to that exception, ‘the new agreement in rescission or alteration of the prior contract must in general satisfy all the requirements of an independent contract’, and so must an agreement to accept satisfaction for a right of action which has arisen by breach of contract.

This section makes a wide departure from the English law, and the principles of that law cannot be relied upon to interpret the section. The intention of the present section to alter the rule of the common law is clear; and this has been recognised in several Indian cases.

Necessity of satisfaction in a contract:

In 1903, the High Court of Bombay had held (Abaji Sitaram Modak v. Trimbak Municipality) that a dispensation or remission under this section involved a promise as defined by section 2(b) or an agreement within section 2(e), so that ‘there must be a proposal of the dispensation or remission which is accepted’: in technical terms, that the effect of the section is only to allow an accord to be good without satisfaction.

Many jurists have continuously protested against this ruling and suggested that the words of the section ought to be construed according to their natural meaning and a promise could discharge the promise not only without consideration but without a new agreement.

Views of the Privy Council:

The principle of accord and satisfaction has been stated by the Privy Council as a principle of substituted agreement thus in the cases of Reena Saminathan v. Puna Lana Palaniappa [41 IA 142] and UOI v. Kishorilal Gupta & Bros [AIR 1959 SC 1362].:

“The ‘receipt’ given by the appellants and accepted by the respondent, and acted upon by both parties proves conclusively that all the parties agreed to a settlement of all their existing disputes by the arrangement formulated in the ‘receipt’. It is a clear example of what used to be well-known in common law pleading as ‘accord and satisfaction by a substituted agreement’. No matter what were their respective rights of the parties inter se they are abandoned in consideration of acceptance by all of a new agreement. The consequence is that when such an accord or satisfaction takes place, the prior rights of the parties are extinguished. They have, in fact, been extinguished by the new rights; and the new agreement becomes a new departure and the rights of all the parties are fully represented by it.”

There have been two interpretations of this doctrine till date, the situation in which the party not at fault accepts any satisfaction in place of the original consideration and most importantly, when he or she accepts a lesser sum as satisfaction until the previous contract is discharged.

ESSENTIAL ELEMENTS OF THE DOCTRINE

The doctrine of accord and satisfaction is merely a method of discharging a claim whereby the parties agree to give and accept something in settlement of the claim and perform the agreement, the accord being the agreement and the satisfaction its execution or performance, and it is a new contract substituted for an old contract which is thereby discharged, or for an obligation or cause of action which is settled, and must have all of the elements of a valid contract.

To constitute an accord and satisfaction, there must have been a genuine dispute that is settled by a meeting of the minds with an intention to compromise. Where there is an actual controversy, an accord and satisfaction may be used to settle it. The controversy may be founded on contract or tort. It can arise from a collision of motor vehicles, a failure to deliver oranges ordered and paid for, or a refusal to finish constructing an office building, etc.

An accord and satisfaction can be made only by persons who have the legal capacity to enter into a contract. A settlement is not binding on an insane person, for example; and an infant may have the right to disaffirm the contract. Therefore, a person, such as a guardian, acting on behalf of a person incapable of contracting for himself or herself may make an accord and satisfaction for the person committed to his or her charge, but the law may require that the guardian’s actions be supervised by a court.

An executor or administrator may bind an estate; a trustee can accept an accord and satisfaction for a trust; and an officer can negotiate a settlement for a corporation.

A third person may give something in satisfaction of a party’s debt. In such a case, an accord and satisfaction is effected if the creditor accepts the offer and the debtor authorizes, participates in, or later agrees to, the transaction.

For example, a widower has an automobile accident but is mentally unable to cope with a lawsuit because his wife has just died. He gratefully accepts the offer of a close family friend to talk to the other driver, who has been threatening a lawsuit. The friend convinces the other driver that both drivers are at fault to some extent. The friend offers to pay the other driver $500 in damages in exchange for a written statement that she will not make any claim against the widower for damages resulting from the accident. The family friend and the other driver each sign a copy of the statement for the other, and when the payment is made, the accord and satisfaction is complete. If the other driver then sues the widower for more money on account of the accident, the widower could show that he agreed to let his friend negotiate an accord and satisfaction, and the court would deny relief.

Most commonly, this is seen in situations where people lack the capacity to consent and negotiate legal agreements, and the person negotiating the contract may be supervised to confirm that the agreement is in the best interests of the person being represented. People can also reach accord and satisfaction on behalf of someone else more informally; for example, a parent may help an adult child settle a debt to a landlord, acting on behalf of the child to resolve the matter. However, the law may require that the guardian’s actions be supervised by a court. An executor or administrator may bind an estate; a trustee can accept an accord and satisfaction for a trust; and an officer can negotiate a settlement for a corporation.

An accord and satisfaction is a contract, and all the essential elements of a contract must be present. The agreement must include a definite offer of settlement and an unconditional acceptance of the offer according to its terms. It must be final and definite, closing the matter it covers and leaving nothing unsettled or open to question. The agreement may call for full payment or some compromise and it need not be based on an earlier agreement of the parties. It does not necessarily have to be in writing unless it comes within the statute of frauds.

Unless there are matters intentionally left outside the accord and satisfaction, it settles the entire controversy between the parties. It extinguishes all the obligations arising out of the underlying contract or tort. Where only one of two or more parties on one side settles, this ordinarily operates to discharge all of them. The reason for this is the rule that there should be only one satisfaction for a single injury or wrong. This rule does not apply where the satisfaction is neither given nor accepted with the intention that it settle the entire matter.

An accord without satisfaction generally means nothing. With a full satisfaction, the accord can be used to defeat any further claims by either party unless it was reached by fraud, duress, or mutual mistake.

A valid accord does not discharge the prior contract, it suspends the right to enforce it in accordance with the terms of the accord contract, in which satisfaction, or performance of the contract will discharge both contracts (the original and the accord). If the creditor breaches the accord, then the debtor will be able to bring up the existence of the accord in order to enjoin any action against him.

The accord agreement must be transacted on a new agreement. It must therefore have the essential terms of a contract, (parties, subject matter, time for performance, and consideration). If there is a breach of the accord there will be no “satisfaction” which will give rise to a breach of accord. In this instance the non-offending party has the right to sue under either the original contract or the accord agreement.

A mere retaining of the money sent by the promisor does not imply satisfaction. Whether or not the money is taken in satisfaction is a question of fact to be determined keeping in view all the circumstances of the case. An award of damages for breach of a contract is not the same thing as a party to the contract accepting satisfaction of the contract other than in accordance with the original terms thereof.

ACCEPTANCE OF ANY SATISFACTION

According to the doctrine of accord and satisfaction, the promise may accept, instead of performance of the promise, such satisfaction as he thinks fit. But until the satisfaction agreed upon remains executory, the original cause of action is not discharged. But where the promise accepts the promise itself in satisfaction, the original cause of action is discharged.

In the case of Manohur Koyal v. Thakur Das Naskar [(1888) ILR 15 Cal 319], the defendant executed a bond of a certain sum of money in favour of the plaintiff, to be repaid on a certain date at eighteen percent per annum. If not paid on that date, the rate would be increased to twenty – four per cent per annum. The defendant came to the plaintiff on the day of repayment and expressed his inability to pay the said amount. Instead, he offered to pay Rs.400 cash and agreed to issue another bond in favour of the plaintiff to be paid at a much later date. The plaintiff accepted theses terms, but the defendant failed to carry them out. The plaintiff filed a suit for recovery of the original balance and the later promised amount from the defendant. The Court applied the principle of accord and satisfaction from section 63 of the Indian Contract Act and entitled the plaintiff to the entire sum demanded by him, stating that the reason was that the plaintiff had accepted the promise to carry out a different set of terms and conditions as the satisfaction for the later contract.

A contract between a debtor and a creditor that the debtor should sell and the creditor should accept any property in satisfaction for the debt, may operate in one of three ways, namely:

(i) the contract by itself may operate as an absolute discharge of the debt, giving the creditor thereafter only the remedy by way of the specific performance of the contract; or

(ii) it may operate only as a conditional discharge of the debt, giving the creditor in case of the debtor’s default, a right to claim either a performance of the contract or if he elects to put an end to it, the payment of the debt; or

(iii) the contract may be an independent transaction, in the sense that it does not affect the rights of the creditors or the obligations of the debtor till the sale is actually completed.

In which of these ways the contract is to have operation will depend upon the intention of the parties to be gathered in the absence of any express stipulation, from their conduct and the surrounding circumstances in the particular case.

It was held in the case of Sakarchand Shamji v. Ismail Hoosein [AIR 1931 Rang 189], that where on the breach of contract for sale, the buyer accepted a promissory note to reimburse loss on breach, and the receipt for one of the payments stated that the whole amount was not paid within a particular time, there was no agreement to revive the original cause of action.

In the case of Ram Swaroop Mam Chand v. Chhaju Ram & Sons. [(1937) 1 Cal 757], the Court held that before a party can be said to accept something other than the performance stipulated for in satisfaction of the contract, it should be open to him to refuse such satisfaction and to insist on the performance of the contract in accordance with its terms.

Thus, if any party instead of original satisfaction of a claim accepted another satisfaction, deemed fit by it, such unilateral acts were covered under section 63 of the Indian Contract Act.

ACCEPTANCE OF A LESSER SUM

Although the rule that the court does not enquire into the adequacy of the consideration is applicable in general, and therefore anything different in kind from what is due may be good satisfaction without regard to its apparent value, yet the court cannot help knowing that nineteen pounds is not equal to twenty pounds. Accordingly, a less sum of money cannot be good for a greater sum already due. This last rule was confirmed with great reluctance by the House of Lords in the case of Foakes v. Beer [[1881 – 85] All ER Rep 106].

However, in Indian law, neither consideration nor an agreement is necessary for enabling a promise to dispense with or remit the performance of the promise or accept any other satisfaction in place of the original satisfaction.

This is one of the most common manifestations of the doctrine of accord and satisfaction. Where there has been a true accord under which the creditor voluntarily agrees to accept a lesser sum in satisfaction and the debtor acts upon that accord by paying the lesser sum and the creditor accepts it, then it is inequitable for the creditor afterwards to insist on the balance.

The real emphasis is not on the acceptance of a smaller sum, but on the debtor’s condition that if the tendered money be at all accepted, it must be in discharge of the entire debt. A creditor accepting payment on a condition cannot accept the payment and repudiate the condition. Such accord and satisfaction are a question of fact, implying an agreement to take the money in satisfaction of the claim in respect of which it is sent; and preclude the creditor promise from claiming the amount under the original contract.

This was seen in the case of State of Maharashtra v. Nav Bharat Builders [(1994) SC 3 SCC 83], where in a mutual agreement pending a suit, a contactor agreed to receive on account of his claim, labour escalation charges, an amount calculated according to specified principles aand in order to withdraw the suit, there was accord and satisfaction after he had accepted the amount and withdrawn the suit.

The same principle was applied in the case of PK Ramaiah v. CMD, National Thermal Power Corpn. [(1994) Supp 3 SCC 126], in which when the creditor accepted the final measurements of the work completed and issued a receipt stating that the amount had been received in full and final settlement, there was accord and satisfaction and the creditor was not entitled to claim the balance.

Once any dispute is settled in this manner, no arbitral dispute remains, and the arbitration clause cannot be invoked.

If a cheque for a smaller amount than the debt due is sent to the creditor in full satisfaction, it does not discharge the debt if the latter does not accept it as such. It depends upon the intention of the parties as expressed in the correspondence and the character of the transaction.

For instance, in the case of Union of India v. Gangaram Bhagwandas [AIR 1977 MP 215], the railway sent a cheque for a smaller sum than the claim of the plaintiff in court in full and final satisfaction as settlement of the claim. The plaintiff encashed the cheque but continued his suit for the balance. The court held that the plaintiff had not accepted the cheque in full and final settlement as he continued the suit.

Similarly, in the case of Tata Locomotive & Eng. Co. Ltd. v. Sardar Kartar Singh [AIR 1961 Pat 37], a cheque for a smaller sum was sent to the creditor with the request that it be accepted in full payment, accompanied by a receipt to be signed by the creditor in full satisfaction. The cheque was cashed but no receipt was sent. On the contrary, before cashing the cheque a demand for the rest was made. The payment was held not to be in discharge of the entire debt.

Further, in respect of a works contract, if a contractor accepts the final bill, it would not mean that he was not entitled to make any claim. He was not precluded in law from raising the rest of his claim. The judgement is clearly right since under section 63 of the Indian Contract Act, there have to be accord as well as satisfaction to discharge the liability of the debtor.

The acceptance of a lesser sum of money where more is due, is a good discharge of the whole liability. The Supreme Court decision in Kapur Chand Godha v. Mir Nawab Himayatali Khan [(1963) 2 SCR 168] illustrates this. In this case, the liability was above twenty-seven lakhs of rupees. A Committee was formed to clear up the matter, which offered the creditor twenty lakhs in full satisfaction of the debt. The plaintiff after some initial protest expressed his readiness to accept the sum sent in full satisfaction of his claim and discharge the promissory note making endorsement of full satisfaction and received the payment. After the settlement, the creditor sued the debtor for the balance amount.

Justice S.K.Das held that “the facts of the case are completely covered by section 63 and illustration (c) thereof. The appellant having accepted the payment in full satisfaction of his claim was not entitled to sue”.

For this principle to lie, there must be proof that the a lesser sum has been accepted by the party not at fault.

FULL SATISFACTION AS THE ACCORD

It is the general rule that full satisfaction equals the accord. That is, after a party not at fault has accepted the satisfaction for an extension in the performance of the previous contract, the accord is complete and the other party cannot back out of the performance of his part of the contract so formed.

This rule has certain exceptions. If the party was made to enter into the contract despite protesting against it, the accord does not hold good. For instance, in the case of Union of India v. Gangaram Bhagwandas [AIR 1977 MP 215], the railway sent a cheque for a smaller sum than the claim of the plaintiff in court in full and final satisfaction as settlement of the claim. The plaintiff encashed the cheque but continued his suit for the balance. The court held that the plaintiff had not accepted the cheque in full and final settlement as he continued the suit and this was clearly a protest against the acceptance of the satisfaction.

Similarly, if the second party gave his assent to the accord under undue influence, mistaken belief or coercion, this rule is not applicable. Also, if the second party entered into the agreement for accord and satisfaction under the pressing circumstances, the doctrine does not apply, as in the case of Usman v. Union of India.

POSITION IN THE AMERICAN COMMON LAW

In the American common law, the term “accord and satisfaction” is used to express “the legal consequence of a creditor’s acceptance of a substitute performance for a previously existing claim or prior original duty.” As the conjunctive name implies, accord and satisfaction consists of two distinct parts. The “accord” of an accord and satisfaction is an agreement in which the creditor promises to accept the substitute performance for the pre-existing claim or duty. The “satisfaction” is the actual acceptance by the creditor of that substitute performance. Used together, these terms represent the legal consequence of accepting performance of the accord as satisfaction, the legal consequence being the discharge of the prior claim or duty.

There are three requirements for a valid discharge of an existing claim or duty by accord and satisfaction:

(1) existence of a claim or duty,

(2) offer and acceptance of a substitute performance in full settlement, and

(3) proper consideration.

The first requirement-existence of a prior claim or duty-is clearly met in the hypothetical. An existing claim or duty is required, because, without it, there is nothing for which to offer a

substitute performance.

For the second requirement to be met, the offer and acceptance must be for a substitute performance. In the common law, a substitute performance must be distinguished from a substitute contract. Though the two are very similar, the distinction between them for the purposes of accord and satisfaction is the timeline by which each discharges the prior existing claim or duty. A substitute contract discharges the prior duty at the moment the parties reach an agreement. A substitute performance does not discharge the existing duty until the performance is executed.

The last requirement for a valid accord and satisfaction to exist is that “new, valuable, and legal consideration” be present. Consideration is a bargained for performance or return promise. Therefore, for a promise to give, do, or not do, there must be a quid pro quo, something given, done, or not done in return. In the context of accord and satisfaction, courts have held that “the consideration is the resolution of the disputed claim”.

A COMPARATIVE STUDY

Although the principle of accord and satisfaction has been said to be similar to other forms of dispute settlement and often confused for being synonymous with compromise and settlement and some forms of arbitration, it can clearly be distinguished from them.

Accord and satisfaction is the purchase of the release from an obligation, whether arising under contract or tort by means of any valuable consideration not being the actual performance of the obligation itself. The accord is the agreement by which the obligation is discharged. The satisfaction is the consideration which makes the agreement operative.

An accord and satisfaction can be distinguished from other forms of resolving legal disputes. A payment or performance means that the original obligations were met.

A release is a formal relinquishment of the right to enforce the original obligations and not necessarily a compromise, as in accord and satisfaction.

An arbitration is a settlement of the dispute by some outside person whose determination of an award is voluntarily accepted by the parties.

A composition with creditors is very much like an accord but has elements not required for an accord and satisfaction. It is used only for disputes between a debtor and a certain number of his or her creditors, while an accord and satisfaction can be used to settle any kind of controversy-whether arising from contract or tort-and ordinarily involves only two parties.

Although distinctions have occasionally been drawn between an accord and satisfaction and a compromise and settlement, the two terms are often used interchangeably.

A novation is a kind of accord in which the promise alone, rather than full performance, is satisfaction, and is accepted as a binding resolution of the dispute.

CONCLUSION

The principle of accord and satisfaction implies that after a breach of contract has been made, the parties may enter into a subsequent contract by which the party not at fault may accept some other consideration other than the legal remedy.

This principle has also been described as only a method of discharge of a contract, as not annihilating the contract itself, but only making the obligation arising out of it unenforceable. The principle of accord and satisfaction is seen as a defense to legal action.

As per Chitty on Contracts,

‘It is a good defense to an action for the breach of any contract that the cause of action has been discharged by accord and satisfaction, that is to say, by an agreement after breach whereby some consideration other than his legal remedy is to be accepted by the party not in fault’.

An accord and satisfaction which secures a release from such an obligation is really based on the existence of the contract instead of treating it as non-existent. When an action is brought for non-performance an accord and satisfaction furnishes good defense. The defense is not that the contract has come to an end, but that its breach has been satisfied by accord and satisfaction, and therefore the plaintiff in the action is not entitled to the usual remedy for the breach.

Through accord and satisfaction, a lessee can agree to acceptance of a lesser amount by way of full satisfaction of all claims. But when the debtor paid still lesser amount, his liability could not come to an end. In such a case, there would be no accord even though the creditor had accepted the said amount.

Continue Reading

Finance

9 Downsell Campaign Offers to Get Abandoned Shopping Cart Contacts to Buy From You

Avatar Of Rajesh Khanna

Published

on

Shopping cart abandonment is a huge problem that leads to lost ecommerce sales.

Shopping cart abandonment is when a prospective customer who starts the process of buying a product or service online, but then drops out before buying.

Shopping cart abandonment can be as high as 80 percent. In one study by Barilliance, shopping cart abandonment rates were 77.24% in 2016 and 78.65% in 2017. That’s over three-quarters of consumers that land in the shopping cart. The rate is over 80 percent among mobile users.

There are many reasons why consumers abandon shopping carts. Unexpected shipping fees, long and confusing process, too many clicks and pages, plus website errors and crashes.

Yet all is not lost if you have a downsell campaign. In fact, a downsell campaign with good sales offers can help you recover these lost revenues and get the consumer back to buy.

A downsell campaign occurs after a prospective customer abandons a shopping cart or order page. It involves a series of emails each with a link to a distinct landing page with a new offer. This new offer fulfills the customer’s needs and wants while lowering their perceived risk. In some cases, it reduces the price of a product or service.

While you can have downsell offers for all types of contacts, they are best to use to convert a lead into a new customer than an established customer. That’s because some customers will take advantage of your strategy, causing you to lose profits.

Here are 9 downsell campaign sales offers you can present to consumers who abandon their shopping cart.

Downsell Campaign Strategy #1: Free Trial Offer

A free trial sales offer lowers perceived risk of buying. It enables the customer to experience the benefits of the product or service. Then when the trial period is over you charge their credit card if they did not previously cancel. The two drawbacks are NOT getting paid in advance and potential loss of sale if the customer cancels. At least you’ve got them back to try it.

Downsell Campaign Strategy #2: Offer Same Product at Same Price Plus Add a Bonus

Adding a bonus to your offer increases the value of the deal. The customer can feel they are getting more from you, so their perceived value is higher. The thing is you can be creative with the types of bonuses you offer. It can involve a complimentary product or service, a consultation, educational product or event.

Downsell Campaign Strategy #3: Offer the Same Product or Service at a Lower Quantity

By offering the same product at a lower quantity, such as size, the customer wins by getting what they want for less cost. You win by earning a customer and lowering the quantity you give for a lower price, so you can earn a profit. This strategy enables you to develop a loyal customer rather than losing them entirely.

Downsell Campaign Strategy #4: Coupon For Next Offer

Offer a coupon for their NEXT purchase if they buy now. For example, if you have an eBook you sell for $30, then offer the contact a 10% off next purchase of any product if they purchase the eBook for $30 now. There is little risk to you because you get full price for the first product sale.

Downsell Campaign Strategy #5: Offer Same Product For Less at Prompt Redemption

You could offer the same product at a lower cost. But with a twist that they must take you up on your offer now or it expires. The customer wins by getting a better deal. You win with a new customer. You’ll gain profits by selling to the customer in the future.

Downsell Campaign Strategy #6: Offer the Same Product With Discount Plus Bonus

Here you give them two things they did not have before. First, they get a discount on the same product. Plus, they receive a free gift. The customer gets a double win. Greater value at a lower price. You win by getting a happy customer who can buy again from you. If your sales offer is a digital product bonus, then there’s no added out of pocket cost after the first creative fee.

Downsell Campaign Strategy #7: Offer a Different Product or Service at a Lower Quantity

You could have a sales offer for a different but less costly product that may satisfy the customer. The customer wins by getting a product at a lower cost. You win by getting the customer.

Downsell Campaign Strategy #8: FREE Shipping

FREE shipping is a cost saver to the customer if you sell a physical product. The cost of shipping is an expense that can offset your tax liability. The upside is you get a customer with potential for future sales and repeat orders. Shipping costs are among the biggest reason for abandoned shopping carts. A sales offer with FREE shipping can get the customer to buy.

Downsell Campaign Strategy #9: Double the Offer Plus a Bonus

This strategy appeals to customers who want greater value, rather than lower price. Not every prospect walks away from an initial offer because the price is higher than what they want to spend. Some prospects have money, but want greater value. Doubling what you sell – or increasing quantity – can boost customer perceived value. When you add a bonus on top, they see they get more than what you offered the first time.

In summary, an abandoned shopping cart is very common in ecommerce. But you can recover some of these lost sales with a compelling sales offer that gets these contacts back to buy.

Continue Reading

Finance

5 Essential Steps For Launching A Life Coaching Business

Avatar Of Rajesh Khanna

Published

on

What is life coaching?

It’s motivating people to change something in their lives so they can experience greater joy and less pain. It can be in any area of a person’s life, and different areas of life overlap and influence each other. A relationship problem can affect finances, and vice versa. A health problem can affect a career issue, and vice versa.

So, probably he first thing to consider once you’ve decided to become a coach is:

“Do you want to be a general life coach, or do you want to specialize in one area?”

The main areas of a person’s life are:

· Health

· Relationships

· Personal Development

· Career

· Finances

· Spiritual Development

If you have experience in one area of life where you solved a problem that many others have, then you might want to specialize in that area. For example, if you taught yourself some ways to get through a divorce amiably, you could coach others on how to do that. Or, if you developed a technique for recovering faster from cancer treatments, you may want to share that with others.

Or you may have training in a specific area. For example, you took a training in how to help someone change their diet by using specific techniques you are now certified to teach. Then you may want to use a specific title for your coaching, such as “Massey Method Coach.”

But if you want to coach a person in all areas of their life, then you may want to call yourself a “General Life Coach,” a “Personal Growth,” or a “Personal Development” coach.

No matter what you choose, your job as a life coach is to motivate people to take action to change their lives for the better. You do that with methods, processes, accountability and inspiration to do the work. The problem is that most people want change, but they don’t want to do the work. So they hire a life coach to help them stay motivated while they do the hard work.

In fact, about 90% of people pay for life coaching just to hold them accountable. But they also want you to be an expert in the area they are working on. So it’s important for you to get proper training.

Notice I didn’t say get “certified.” There are many certification programs for life coaching. But there are also courses that aren’t for certification but may be helpful. So just be aware of that.

What’s important is that you get the necessary training, so you know how to deliver life coaching to clients. And, if it’s a certification program, that will just add to your credibility. Or you may be someone who has had a lot of experience in coaching already, and that in itself may be enough credentials.

Most people won’t ask for your credentials, but if you have them, it’s good to display them on your website and in your email signature.

Launching Your Coaching Business

Starting any kind of business can be fulfilling, but it also can involve hard work, difficulties and challenges. Having an awareness of where the obstacles in the road lie in a life coaching business, gives you an advantage. So I’ll share some basic information you need to know when launching.

There are several components that need to be in place in order to start and run a life coaching business:

1. An entrepreneur mindset

2. A coaching process/program to offer

3. Basic bookkeeping skills

4. Business systems

5. Tools for running a business online

Let’s dive a little deeper into each one of these.

1-Mindset is half the battle.

When starting any kind of business, you need to have an entrepreneurial mindset. That means making decisions based on statistics and not on emotions. It definitely means doing income-producing activities such as, market research to determine the needs of your audience, rather than only doing easier and more fun activities.

Most of the entrepreneurs I’ve met who are not having the kind of success that they desire, have a problem with their mindset. I can sense it when I hear them talk about their business. Unfortunately, they aren’t aware of their mindset, so they don’t know that it’s the problem. Before their finances improve and their business thrives, their attitude toward business needs to improve.

Mindset is something quite intangible. You can’t just say, “Oh, you’re spending too much money; that’s your problem.” Or “Your conversion rate isn’t high enough to justify your advertising expenses.” Those are tangible problems. Mindset is illusive, and harder to pinpoint.

One way to discover if your mindset is aligned with your business is to try to uncover any hidden beliefs that are holding you back. Beliefs that don’t support your desires are the main culprits that can keep you stuck in an undesirable situation. But beliefs are just thought patterns that are habitual. This is good news because habits can be changed. The best way to change a belief is to substitute a new one that’s more in alignment with your desires.

Just like being in any long-term relationship, as an entrepreneur, all of your issues will come up and need to be dealt with. One common issue is your relationship with money… how much you think you deserve, how much you can ask for, how much you can keep, and how you treat money in your personal life.

Another major issue that comes up is lack of self-confidence. The best way to handle this is to coach 10-20 people. It doesn’t matter if it’s a practice session or a 6-month program. You will learn a lot from your first coaching clients and it will also give you the potential for referrals, more confidence, and possible revenue.

A third issue that can come up is in how you handle stress. Do you stay calm and strong when a client is venting on a stressful experience, or do you get caught up in their drama? Do you leave the office and your business behind you at the end of the day and relax with family/friends, or do you tend to “take your business with you” and think and strategize too much on your off time?

One thing that happens when running a life coaching business is that you find you must adapt and evolve with it. Things happen that force you to either change something in your business or change something in yourself in order to move forward. And it’s helpful to know how to keep a positive attitude.

2-Your Life Coaching Program

Besides developing the right mind-set, you need to develop a program to offer clients. It may be the process you developed when you solved the problem that you now can help others with. It may be a method that you got training on. Or it could be a combination of the two.

Planning out your program in advance is necessary in order to have something concrete to offer in enrollment conversations (discovery calls). And you need to plan out what results your clients can expect to have from your program.

Here are some steps to consider:

· How long your program will last? One-to-one coaching programs range from a few weeks to a year or more, depending on the depth of the information and the outcome clients will achieve.

· What steps does the client need to go through to achieve the desired results?

· What tools will need to be included in your program?

· How will you connect with your clients, and when and where will the contact happen? Will you deliver via phone calls, zoom calls or email support?

The bottom line here is:

What will make your clients feel supported, without causing you to burnout?

Pricing your services

Perhaps the most difficult decision to make when it comes to your private coaching program is pricing your services. That may take market research.

Beginning life coaches might charge as little as $97/month, while top business coaches can easily command $40,000, $50,000 or even $100,000 per year. Where will your program fit? It depends on a variety of factors:

· Niche

· Duration

· Outcome

· Your experience level

Once your coaching program is planned out and priced, you will be ready to market yourself.

3-Bookkeeping

Every business owner needs to know how to determine whether they can stay in business, i.e., if they are making a profit. Life coaches are no exception. That’s where basic bookkeeping skills come in. Keep track of both expenses and income on a spreadsheet, or (I suggest) in a simple software program such as, Quicken . Quicken is inexpensive and is all you need for a small business.

Then you need to keep accurate records and track where your money is going and how much you are actually earning. Income always starts slowly, and you may have more expenses than income at first. But there are so many low-cost or even free tools available that you should be able to keep operating costs to a minimum.

4-Tools for running a business online

The Internet has opened up a “world” of opportunity for life coaches. You can coach anyone anywhere in the world. But that means knowing how to use online tools to market and run your business. Fortunately, there are many helpful tools, resources, and software to make your business life easier. Earlier, I mentioned having a bookkeeping tool.

Here are 5 other essential ones:

a) Website

b) Scheduler

c) Autoresponder

d) Delivery Platform

e) Documents

Website

Some coaches have asked me if they need a website. You don’t necessarily need a website—I have members in my life coaching association who don’t, and they have other ways of getting clients—but it does look more professional to have a website. A simple one is a WordPress site. You’ll need to get a domain name for it and a hosting service. You can start out with a one-page site that just has information about what you do, and your contact info.

There are a number of tools associated with a website. For example, if you want to track how many people come to your site, you can install Google Analytics. There are also a number of WordPress plug-ins that make the operation of your site more efficient. Your webmaster will know what you need.

Scheduler

You’ll also need a way for clients to book appointments with you. Don’t get caught in the “email tag” game! Get a scheduler with a link that you can send to any client or prospect. Basic free tools include Calendy, Setmore, and Squareup.

Autoresponder

If you are running an online business, and are sending traffic to your website through your marketing, not everyone who comes to your site will be ready to hire you. So, you need a way to stay in touch with those people. An easy way is with an autoresponder, such as MailChimp or AWeber. It’s a tool that sends out emails automatically to people who sign up on your website. You write up the emails once, and they go out without any more work on your part. Usually, you’ll need to offer some kind of “freebie” (or “lead magnet”) to get people to sign up for your emails.

Delivery Platform

If you have materials such as PDFs, templates, checklists, or recordings, you’ll need a way to deliver them to your clients. For documents, it can be as simple as using Google Docs. You upload the document and give the link to your clients. But if you want something fancier, you can use a platform such as Teachable, LearnDash, Kajabi, or OptimizePress Member. Using one of these software programs ensures that your materials are only available to people you designate (password-protected).

Coaching Documents

You will also need some coaching documents such as a client agreement, client feedback form, Wheel of Life chart, intake session form, invoice form, client action sheet, and client info form. There may be others that you’ll need depending on your topic.

5-Business systems

You will need to set up several systems so your business runs smoothly.

Here are the ones I recommend:

a) Content Creation system

b) Lead generation system

c) Social media marketing system

d) Sales conversion system

e) Onboarding clients system

f) Client retention system

g) Follow-up system

Content Creation system

The first system you will need to set up is content creation for your business. That means creating valuable content that educates people, tells them what you do, and how to hire you. As you market your business, you will always be creating content. This includes content in your branding, your blogs, your website pages, and your email campaigns, and it all supports lead generation. You will always be creating content to keep your name in front of the people in your audience.

Lead generation system

How will you find prospects to talk to about your services? That’s what we call “lead generation.” Leads are potential clients who are attracted to your content. So you need to have a system for attracting them.

There will be people who are attracted to your content and consume it, but aren’t ready to hire you yet. And if you don’t have a system for staying in touch with them until they are ready, you’re leaving money on the table. That’s where your autoresponder comes in—you can use it to build a list of leads that you can keep in touch with.

It’s helpful to have a gift of some kind to offer potential leads, so they get on your list. Called a “freebie” or “lead magnet”, this is a small piece of content that your audience wants and needs so much that they are willing to give you their email address, knowing that you will be sending them more content.

The lead magnet leads them to an email series that you have on your autoresponder. These emails educate your leads more about the problem they face and how you can help them solve it. Your autoresponder email series leads to an enrollment conversation, a free consultation or “discovery call,” where you enroll them into your coaching program.

This system also may include using ads to re-target people who clicked on your links to encourage them to connect with you.

Social media marketing system

A necessary part of lead generation is marketing on social media. It’s a whole system in itself! You will need to make social media posts, which include content and graphics, to distribute to the platforms you are using. Part of this system involves having a regular time for engaging with people on social media who are potential clients. You will have to do more market research to find out where to find your ideal leads on social media.

This system can also include advertising on various platforms. Each one is different, and, to stay organized, you should focus on one platform at a time, so you can get a steady stream of leads from it before you start working on another one. Also, there are ways to automate your social media marketing.

Sales conversion system

Once you get a lead into a free sales conversation, you need to have a set of steps to take them through to see if they are right for your program or service.

Here is a sample conversation formula:

a) Warm Up Questions – icebreakers

b) Setting Expectations – your agenda for the call

c) Making the Promise – what they will get out of the call

d) Qualifying Questions – their ability to invest

e) Personal Questions – their reason for consulting with you

f) Offer – your solution

g) Close – your call-to-action

h) Technical Questions/Objection handling – help them make a decision

There are many courses available on sales conversation techniques and formulas. Know that salesmanship is an acquired skill that anyone can learn.

Onboarding clients system

Once you have enrolled a new client, there needs to be a procedure or onboarding process that they go through. This can include a welcome letter or welcome package, registration on your delivery platform, getting their personal information, or filling out a questionnaire.

Client retention system

It’s a lot easier to reenroll a current client than to find a new client, so it’s a good idea to have a client retention system. Current clients have already been sold once and they know and trust you. So it doesn’t take as much work to convince them to buy again. Part of this system is how you treat your clients while they are working with you. The other part is keeping in touch with them after their program is over and introducing them to the next step or another program. This can be done through an email series or phone calls.

Follow-up system

One more system a life coach needs is for following up with people. There are 4 follow-up series that you need to create:

a) People opting in for your “lead magnet

b) Prospects you meet on social media platforms

c) Current clients who are in one of your programs

d) Past clients who need the next step

The thing to keep in mind is that people are more likely to buy from you if you follow up with them regularly with courteous, helpful, non-pushy contact via email or phone calls.

In Conclusion

Becoming a life coach can be as exciting as it is formidable! And as a life coach you may run into some unique challenges. But there are ways to deal with it. We discussed what life coaching is and the 5 steps that need to be in place in order to launch a coaching business.

There are other things you can do too. You can hire a coach to help you. You can take extra trainings. And you can become a member of a life coach association, such as the International Association of Professional Life Coaches®. Membership will give you visibility, credibility, and business and marketing training. Visit the website to see if it’s a good fit for you!

Continue Reading

Finance

Benefits of Online Foreign Exchange (Forex) Trading

Avatar Of Rajesh Khanna

Published

on

The advent of the internet has made it easy for investors, and particularly online Forex investors. Therefore, Forex trading can be performed online. It is different from stock trading because it involves exchanging currency online for purposes of making profits.

Online Forex trading offers the benefit of convenience, by allowing investors to trade anytime and from anywhere around the globe. All you need is a computer and an understanding of the trading requirements, to start the practice.

An understanding of online Forex trading is crucial for purposes of ensuring proper investment of money. There are several Forex trading websites that offer practice accounts to help investors learn the ups and downs. The benefits of online Forex trading include:

· 24 hour trading

The market is open 24 hours around the world. This means you can trade anytime, day or night, because there is an open market in some part of the world. Trading is usually open in many parts of the world from Sunday evening to Friday evening. A 24 hour market allows investors who are busy during the day, perhaps because of being in full employment or business, to participate in the market during their free time.

· High liquidity

An asset is said to be liquid if it can be converted into cash readily, without employing price discounts to attract buyers. Online Forex trading is highly liquid in the sense that large amounts of currency can be moved in and out of most currencies with very little price movements. Furthermore, you can exchange currency anytime, day and night with no restrictions being posed on you.

· Low transaction costs

Forex trading carries lower transaction costs compared with trading at the physical market. The broker is able to share some of the benefits in the form of costs savings, arising from facilitating the trade online. The cost of the transaction is covered by the price, referred to as the spread, which is the difference between price of buying and selling.

· Leverage

There are many trading strategies that can be employed by investors, such as leveraging to maximize the trading benefits. Leverage is the capacity to trade more currency than what is available in the investor’s account.

Online trading accounts allow investors to start trading with as little as $50. In contrast, trading with stocks and bonds requires a huge financial investment. Therefore, if you chose to trade at 60:1 leverage, you could trade $60 for every $1 in your account. Hence, you could end up controlling $60,000 using $1,000 of capital.

Continue Reading

Finance

Keep Your System Simple! Self-Defense And The Science Of Stress Performance

Avatar Of Rajesh Khanna

Published

on

“There Are No Superior Martial Arts,

Only Superior Martial Artists”

I’ve read, heard, repeated and written that phrase so often I can’t even remember where it came from. The reason I like it so much is because it’s true!

This article is not another effort to debate the merits of one self-defense system over another. Nor is it to argue about which style will or won’t work “on the street.” All martial arts have components within them that are powerful fighting techniques. It’s important to know which ones they are!

Self-Defense Systems Differ,

But Self-Defense Principles Don’t

On the surface, martial arts and self-defense systems seem different. However, if they are legitimate and effective, the principles underlying them are the same.

Principles are the rules about the way things are. They are inarguable, non-negotiable and unchanging. They have nothing to do with the way we think things are or the way we want them to be. Like the laws of physics, they just are.

As “Martial Scientists,” our goal is to explore, discover, test and confirm the operative principles that define and influence the reality of combat. Your ability to produce a desired result, in this case to effectively defend yourself, is a direct result of how well you understand and apply the principles of combat and human performance.

What Do You Know About

Performance Under Pressure?

This article is about how fear and stress affect fighting performance. Whether you consider yourself a seasoned martial artist, a self-defense enthusiast, or a self-taught “ham & egger” who just wants to stay in shape and boost your confidence, this information is important to know. If you are training for self-defense, you need to select and develop skills that will be effective in the chaos of a violent conflict. This article will help you in that process.

FEAR, STRESS AND SELF-DEFENSE

Stress Is Good, But Only If It

Works For And Not Against You

Stress is our response to a real or perceived threat that we inherited from our ancestors. It was, and is, essential for our survival as a species. That survival mechanism, often called the “Fight or Flight Response,” is a good thing. If properly managed, it can be a powerful force in fighting off (fight) or escaping from (flight) a violent assailant. However, if ignored or misunderstood, stress can impair our mental and physical performance and compromise our effectiveness in a fight.

What Is “Self-Defense Stress?”

Stress, as it relates to violence, is the response to a perceived discrepancy between a threat and your ability to control it under conditions where the outcome has the potential for death, injury or physical degradation.

The Symptoms Of Stress

Stress causes a variety of psychological and physiological changes. Without getting into the specifics of those changes, the affects of intense stress on performance fall into three categories:

1. Perceptual Distortion – loss of peripheral vision and depth perception, hearing may be impaired, changes in pain sensitivity, etc.

2. Cognitive Impairment – the emotional centers in the brain become predominant and creative or logical thinking is impaired.

3. Motor Skill Deterioration – the ability to perform certain physical actions is impaired by stress. However, other actions can actually be enhanced by stress.

Each of these categories could form an article (or book) of their own. However, for the purposes of this article, I’ll confine myself to information pertaining to the selection and performance of physical skills.

THE KYSS! PRINCIPLE (Keep Your System Simple!)

Why Do Black Belts Get Beat Up?

Why is it that so many martial artists get beat up? I’m sorry to burst your bubble if you thought otherwise but the fact is that many people, even after years of training, have been thumped by “unskilled,” intoxicated adversaries. How can that be?

Often people train with a distorted mental map of what it’s like to be in a real, knockdown, drag-out, anything-goes street-fight. They confuse sparring with fighting and find themselves hesitant, overwhelmed by fear or attempting techniques that just don’t work.

The more clearly you understand the realities of a “fight” and the affects of being in one, the better you can prepare yourself for the chaos of personal combat.

Motor Skills Classification

Motor Skills is a fancy name for physical actions or techniques. They can be divided into three categories:

1. Fine Motor Skills – are actions involving small muscles, dexterity and eye-hand coordination. The ability to perform fine motor skills deteriorates at low to moderate levels of stress.

2. Complex Motor Skills – are actions that link three or more components in a sequence that requires timing and coordination. At moderate to high levels of stress, the ability to perform these skills is also impaired. Many martial arts techniques are complex motor skills. This explains why techniques that may work fine in low-stress training fail in a high-stress street-fight.

3. Gross motor skills – are simple, large-muscle group actions like a squats, pushups and push/pull-type movements. This includes basic fighting skills like a straight punch, a hook punch or a Thai boxer’s knee strike for example. Unlike fine and complex motor skills, gross motor skills DO NOT deteriorate under stress. In fact, they are enhanced by the affects of fear and stress.

Obviously we want to rely predominantly on gross motor skills when designing a self-defense response system.

The “Less-Is-Best” Theory

Some self-defense and martial arts instructors believe in the “More-Is-Better” philosophy. They think that learning a high number of techniques will increase the ability to respond effectively to a wider variety of situations; that the more elaborate the fighting system the more adaptable it becomes.

If you hold this philosophy yourself, please forgive my bluntness but…YOU’RE WRONG!!! The More-Is-Better approach does not withstand scientific scrutiny. Complex or elaborate techniques don’t work in a real fight. It’s as simple as that.

In contrast, the “Less-Is-Best” approach is more practical, realistic and consistent with what science tells us about the way we perform under stress. Here are a few of the benefits of keeping the number of techniques to a minimum.

Faster Reaction Time

As far back as the 1800’s, researchers knew that the more responses you have to a stimulus, the longer it takes react. In 1952, a researcher named Hicks confirmed that for every response choice added, the amount of time required to react doubles! This is widely known as “Hicks Law,” and has been repeatedly confirmed by subsequent research. In a self-defense situation, the longer you take to respond to a threatening action, the more likely you will be injured and defeated.

Fast Results With Minimal Training

Another issue that supports the idea of keeping your inventory of techniques to a minimum is the amount of time you have to practice and the time it takes to build technique competence. (remember: competence builds confidence which reduces stress!)

Imagine you work on 20 techniques and you train for an hour per session. That means you have 3 minutes to invest on each technique. If however, you reduce the number of self-defense techniques to three (just an arbitrary number), you invest 20 minutes on each technique, conceivably investing 600% more time and repetition on each one. What technique wouldn’t be improved by six times more training?

The Brass Knuckle Effect (Cognitive Clarity)

Imagine you knew you were about to be attacked by a large, strong, psychopathic assailant. There is no way of avoiding the fight. Let’s say your self-defense system consists of 20 different techniques. In the stressful moments preceding the encounter your mind is reeling; trying to figure out the most appropriate course of action.

Keep in mind that your cognitive abilities are impaired by stress. Stress-related “brain damage” prevents you from forming a logical or creative solution to your predicament. What will you do?

Seeing your dilemma, a good friend (if he wasn’t before he is now!) discretely passes you a set of brass knuckles. What do you suppose has just happened to your thought process?

I’ll hazard a guess that the mental fog begins to lift, your stress decreases and your objective becomes clear. It’s now a simple matter of taking those brass knuckles and slamming them repeatedly into vulnerable parts of your opponent’s anatomy. Seems simple now doesn’t it?

The potential of you winning the encounter has been significantly enhanced. That same affect can be achieved without the brass knuckles by sticking to a limited, yet adaptable, inventory of dependable fighting skills.

THE SCIENCE OF STRESS POINTS TO THE NEED TO SPECIALIZE

Virtually all accomplished fighters are known for specific techniques that they excel at. However, if you ignore their “bread & butter” techniques, most of them would be considered “average.” Those fighters excel because of their ability to simplify their system and build on their superior techniques.

Knowing what you now know about technique selection and stress performance, what do you think about the merits of “specializing” in a core set of fighting skills? Here’s how to get started.

Explore Your Strengths

Don’t just latch onto a fighting tactic arbitrarily. Evaluate your existing skills and select a strike, a kick, or a finishing hold that seems like a “good fit” for you. What technique to you consistently land or apply when sparring? What is your best or favorite technique? What technique do you feel you would resort to under pressure? Answering these questions will get you started with the specialization process.

Adaptability

Having as few techniques as possible doesn’t mean that you limit your ability to respond to a wide variety of situations. The idea is to take that specialty strike, kick, joint lock or choke and train it in as many different ways as possible. Learn to apply those basic skills at different ranges (striking, clinching or on the ground), against different partners, against different apparatus and in as many drills as you can think of. Learn how to set them up and follow them up. Strive to learn a lot about a little, not vice versa.

Train to Momentary Exhaustion

A good way to see how well a technique holds up under stress is to train it to extreme fatigue. You can bring on the physiology of intense stress by exerting yourself. I call this “blitz training” in the heavy bag article: “There’s nothing like a swift kick to the bag.” on my site at:

http://www.protectivestrategies.com/heavybag.html

Blast out a technique or combination repeatedly for a specified duration or until you can’t do it any more. I can guarantee that gross motor skills will be the only ones conducive to this type of training.

Keep in mind that you wouldn’t do this training all of the time. You need time to recover between intense workouts like this.

Obviously you must be healthy and in good physical shape to do in this training. Refer to my disclaimer page for precautions before following this advice.

http://www.protectivestrategies.com/disclaimer.html

Simplicity Is Not Inflexibility

A final note in keeping things simple is that the process of specialization doesn’t mean that you stop learning, experimenting or that you abandon your existing training program in lieu of a “bare-bones” self-defense program.

If you are proud of your traditional martial arts system stick with it. If you love to jump up, spin around and kick things, then by all means, go for it! Just don’t confuse techniques that will work in a street fight with those that won’t. Apply the science of stress performance by adding specialty training to the degree that you want to develop practical self-defense skills.

SO WHAT? HOW TO USE THIS INFORMATION

Using The “KYSS! Principle”

To Evaluate A Potential Specialty Technique

Now its time to put this stuff into practice: Based on the priority you place on “fighting skill.” (there are several other benefits and reasons to train) Take a good, hard look at the skills you have in your inventory and the amount of time you plan to invest in training.

Decide on what proportion of your training you want to dedicate to self-defense. Design your system based on the following “KYSS Criteria.”

=> is the technique a “gross motor skill?”

=> do you have confidence in your ability to perform the skill under pressure?

=> What technique is most successful for you in training sparring or competition? (however don’t confuse those activities with fighting)

=> Is the technique applicable in a wide variety of situations, at different ranges, in different environments, ring clothing that you were during your day-to-day activities?

=> Are you able to construct a wide variety of training drills to build adaptability and flexibility in your chosen techniques?

=> Are there techniques that you’ve selected that are redundant?

=> Do you understand the underlying principles and biomechanics of performing and applying the skill with optimal efficiency?

CONCLUSION

Stress in a combative situation is a given. Expect it. It’s going to be there. Your performance is the result of how confident and well prepared you are in addition to how well designed your self-defense response system is. Attack the problem of stress performance this way:

=> Simplify your system through specializing in a handful of effective and adaptable techniques.

=> Artificially create stress in your training sessions to inoculate yourself to it to some degree (more on this in future articles) and…

=> Select gross motor skills that will be efficient under stress.

Knowing what you now know about stress performance isn’t it obvious that the “KYSS! (Keep Your System Simple!) Principle” is worth incorporating into your training? Scrutinize and evaluate your inventory of fighting skills and select those that meet the KYSS criteria and you will improve your performance in a combative situation dramatically. The bottom line of what I want you to take away from this article is that if you are training for self-defense Keep Your System Simple!

Take care, train smart and stay safe,

Randy LaHaie

Protective Strategies

============== Self-Defense Quote =================

“There are no superior or inferior martial arts, there are only warriors and non-warriors”

“Each martial art is based on doctrine, a set of broad and general beliefs. People who study a single doctrine tend to shut out ideas from other sources and convince themselves that their’s is the one true way of fighting. They become slaves to the very doctrines they profess.”

Forrest E. Morgan, Maj. USAF

Living The Martial Way

A Manual For The Way A Modern Warrior Should Think

================================================================

Continue Reading

Trending