The Corporation Movie Questions
1. What is an externality?
An externality is, as the movie stated, the effect of a transaction between two individuals
and a third party who has not consented to, or played any role in, the carrying out of th
Inside Job Movie Questions
1. Name every law mentioned in the movie.
The Glass-Steagall Act was passed after the Great Depression and outlawed the use of
consumer investments in risky business ventures by banks.
The Gramm-Leach-Bliley Act w
Law A body of enforceable rules governing relationships among individuals and
between individuals in society.
Allege: To state, recite, assert or charge.
Breach: To violate a law, by act or omission, or break a legal obligation that one owes
to another pe
Quotes of the Day
The one and only social
responsibility of business is to
increase its profits.
-Milton Friedman, economist
Quotes of the Day
The business of business is
serving society, not just mak
Exact performance is not expected
Failure to do so does not call for
Full contract price minus the value
of any defects.
A party that fail
Name of the Team Members
Answers from, The Smartest Guys in the Room
1. What industry was de-regulated?
Enron Corporation was de-regulated.
2. What happened after de-regulation?
After de-regulation, Enron was involved in economic withholding and market to
Super PACs: a type of independent political action committee which may raise unlimited sums
of money from corporations, unions, and individuals but is not permitted to contribute to or
coordinate directly with parties or candidates.
Dark money: is a term
Chapter 2&3 Terms
Arbitration: The settling of a dispute by submitting it to a disinterested third party
(other than the court) who renders a decision.
Concurrent: Jurisdiction that exists when two different courts have the power to hear a
Examination #2 Extra Credit
1. An acceptance can impose new conditions or change the terms of the original offer
without rejecting it.
The correct answer is 'False'.
New conditions may not be imposed on the
TortA civil wrong against individual rights that causes harm to person or property.
Conversion: Severe and substantial interference with chattel (personal property).
Negligence: Failure to exercise the standard of care that a reasonable pers
Casey offers to sell a certain used forklift to DIY Lumber Outlet, but Casey dies before
DIY accepts. Most likely, Caseys death
a. terminated the offer.
b. extended the time of the offer.
c. shortened the time of the offer but did not terminat
The unprivileged, intentional touching of another.
A civil wrong against individual rights that causes harm to person or property.
A wrong against
Name: Wahidul Islam Togor
Name of my business: Diversity
Description: This will be a big restaurant with all type of foods. People of all class
will be able to come here and enjoy their meal. The main attraction will be the
ever-changing themes of the res