Transcript Some Points about PowerPoint

Some Points About PowerPoint
Eric J. Gouvin
Associate Dean &
Professor of Law
Western New England School of Law
[email protected]
AALS Annual Meeting
January 3, 2004
How Not to Use PowerPoint
What’s the likely outcome?
If Player 1 knew that Player 2 was going
left, he would too, and vise versa
If Player 1 wanted to play left, but heard
ahead of time that Player 2 was
choosing right, then Player would would
abandon his strategy and go right.
Although Player 1 slightly prefers left, he
would rather have right than no payoff
Nash Equilibrium
Although neither player has a dominant
strategy, this game is said to have two
“Nash equilibria.”
A Nash Equilibrium is the combination of
strategies that players are likely to
choose because no player could do
better by choosing a different strategy
given the strategy the other chooses.
That is, the strategy of each player is the
best response to the strategy of the
other.
Ways that I Use PowerPoint
•
Text of Statutes/Restatements/Opinions
•
Present drawings I would have made on
the Board
•
Liven up the presentation
Text of Statutes, etc.
§ 24. OFFER DEFINED
An offer is the manifestation of willingness to enter into a
bargain, so made as to justify another person in understanding
that his assent to that bargain is invited and will conclude it.
§9-301 Governing Law
Except as otherwise provided in Sections
9-303 through 9-306, the following rules
determine the law governing perfection,
the effect of perfection or nonperfection,
and the priority of a security interest in
collateral:
(1) Except as otherwise provided in this section,
while a debtor is located in a jurisdiction, the
local law of that jurisdiction governs perfection,
the effect of perfection or nonperfection, and
the priority of a security interest in collateral.
§9-301 Governing Law
Except as otherwise provided in Sections
9-303 through 9-306, the following rules
determine the law governing perfection,
the effect of perfection or nonperfection,
and the priority of a security interest in
collateral:
(1) Except as otherwise provided in this section,
while a debtor is located in a jurisdiction, the
local law of that jurisdiction governs perfection,
the effect of perfection or nonperfection, and
the priority of a security interest in collateral.
PROPERTY COVERED BY
ARTICLE 9
Goods 9-102(a)(44)
Consumer goods (23)
Farm products (34)
Inventory (48)
Equipment (33)
Semi- Intangibles
Instruments (47)
Promissory notes (65)
Documents (30)
Investment property (49)
Chattel paper (11)
Money
Letter of credit rights (51)
Supporting Obligations (77)
Intangibles
Accounts (2)
Health ins. receivables (46)
Commercial tort claims (13)
Deposit accounts (29)
General intangibles (42)
Payment intangibles (61)
Software (75)
Things in action
Real Estate Related Items
Fixtures (41)
Standing Timber/Crops (44)
“As extracted Collateral” (6)
Next
Drawings
Timelines
8/4
a.m.
noon
Byer shows
house to N&K
House listed
w/ Hawkins
eve.
12:30
later 8/5 am! 2 pm 5 pm
Miller makes
counteroffer
B inks deal
w/ Segal
Byer helps N&K
pp offer -- must accept N&K want
to sleep on it
by 5 pm on 8/5
N&K
accept
CO
“You snooze
You lose”
3/26
March
1952
Ad in
paper
S sends
letter
L makes
inquiry
4/7
4/8
4/12
S writes back
“better act
fast”
L writes
to S
4/14 4/15 4/28
L rec’s
4/8 ltr
S sells to
3rd party
S refuses
to convey
L
“accepts”
What if…..
3/26
March
1952
Ad in
paper
S sends
letter
L makes
inquiry
4/7
4/8
4/13 4/14
4/12
4/15
S writes back
“better act
fast”
L writes
to S
L puts
acceptance
in the mail
L rec’s
4/8 ltr
S rec’s L’s
4/12 ltr
S sells to
3rd party
Illustrating the case/problem
Mortgage and Note
$$$
Mortgagee
$$$
Working Capital
Lender
Note and
Security Agmt
Vendor
Fixtures
?
Inventory
Equipment
BNIOCOB
Bankruptcy T’ee
Statutory Lienor
Judgment Creditor
General Creditors
Acme, Inc.
Accounts
Instruments &
Intangibles
BIOCOB
Chain Link
Fence
Visitor’s
Bullpen
Right Field
Bleachers
(Re-enactment)
HA HA!
Orioles
Suck!
D’OH!
I’ve had enough
of that guy
Grimsely
Manning
(Re-enactment)
LoC Transaction -- Set Up
Transmit LoC
Advising
Bank
Issuer
Applies for Correspondent
LoC, Pays fee
Buyer
(Applicant)
Negotiated K Terms
Confirm
Seller
(Beneficiary)
LoC Transaction -- Payment
$
Advising
Bank
Issuer
$
Correspondent
$
Seller
(Beneficiary)
Buyer
(Applicant)
Ship Goods
Maps
Warren
Graphs
Supply and Demand
Price
Demand
Supply
p*
Quantity
q*
Price
Supply and Demand
Consumer Surplus
Demand
Supply
p*
Producer Surplus
Quantity
q*
Legal Restrictions on Interest
rates
Price
Demand for Loans
Supply of Loans
p*
Maximum Interest Rate
qs
q*
Quantity
qd
Legal Restrictions on Interest
rates
Price
Demand for Loans
Supply of Loans
p*
Maximum Interest Rate
Gained Consumer Surplus
qs
q*
Quantity
q
Legal Restrictions on Interest
rates
Price
Demand for Loans
Supply of Loans
Lost Producer Surplus
p*
Maximum Interest Rate
qs
q*
Quantity
q
Legal Restrictions on Interest
rates
Price
Demand for Loans
Lost Consumer Surplus
Supply of Loans
Lost Producer Surplus
p*
Maximum Interest Rate
Deadweight Loss
qs
q*
Quantity
q
Legal Restrictions on Interest
rates
Price
Demand for Loans
Lost Consumer Surplus
Supply of Loans
Lost Producer Surplus
p*
Maximum Interest Rate
Deadweight Loss
qs
q*
Quantity
qd
Numbers
Strategy A
Medium-Risk Allocation of Assets
Scenario Yield on Assets
Owners' Profit
Cost to
Depositors
Worst Case
(25 percent)
7 %
0
0
Middle Case
(50 percent)
8%
1
0
Best Case
(25 percent)
9%
2
0
AVERAGE
8%
1
0
Strategy B
Low-Risk Allocation of Assets
Scenario
Yield on Assets
Owners' Profit
Cost to
Depositors
Worst Case
(25 percent)
7.25 %
0.25
0
Middle Case
(50 percent)
7.5 %
0.50
0
Best Case
(25 percent)
7.75 %
0.75
0
AVERAGE
7.5 %
0.5
0
Strategy C
Higher-Risk Allocation of Assets
Scenario
Yield on Assets Owners' Profit
Worst Case
(25 percent)
5%
(1)
Cost to
Depositors
(1)
Middle Case
(50 percent)
9%
2
0
Best Case
(25 percent)
13 %
6
0
AVERAGE
9%
2.25
(0.25)
Comparison of Returns
Strategy
Ave Return
Expected
Expected Cost
Profit for Owner to Depositors
A
8.0%
$1
$0
B
7.5%
$ 0.5
$0
C
9.0%
$ 2.25
($0.25)
Liven Up the Presentation
Livening things up
•
Stuff you can’t do on the board:
Web Links
 Pictures
 Sounds
 Movies

Web Links
Mechanics of Incorporation
CALI Lesson
Pictures
Mrs. Carlill
Wampum
Continental Notes -- 1776
Private Notes-- Banks
Stonington Bank -- 1858-1865
1862 -- The “Greenback” -- U.S. Notes
These were obligations of the US government
1863 -- National Bank Notes
Issued by a local National Bank
1913 -- Federal Reserve Notes
Issued by the 12 federal reserve banks -First truly national currency
McKinley’s Minions
Plucky Americans
Wm. J. Bryan
Industrial Workers
American Farmers
Listing to Port in the Bushey Shipyard
“The Coast Guard’s Only Submarine”
Sounds
Clauses
Movies
Rules For Monica
What is the “Holding”?
The Normal Form Game
Player 2
Cooperate
Cooperate
Defect
(Player 1 Payoff,
Player 2 Payoff)
1 payoff, 2 payoff
1 payoff, 2 payoff
1 payoff, 2 payoff
Player 1
Defect
The Prisoners’ Dilemma
A Game of Cooperation
Prisoner 2
Silent
Silent
Confess
-2, -2
-10, 0
0, -10
-6,-6
Prisoner 1
Confess
An Application -Bank Runs
The IAWL Bank Run Game
Everybody Else
Leave $
Leave $
Sell to Potter
100%, 100%
0, 50%
50%, 100%
50%, 50%
Tom
Sell to
Potter
The Bank Run Game w/ Deposit Insurance
Other Insured Depositors
Leave $
Leave $
Withdraw $
100%, 100%
100%, 100%
100%, 100%
100%, 100%
Tom
Withdraw
The End