For Those Who Can't Understand The Worldcom Case. This is put in the simplest form so that every one can understand.

An old country farmer with serious financial problems bought a mule from another old farmer for $100, who agreed to deliver the mule the next day. However, the next day he drove up and said, "Sorry, but I have some bad news: The mule died."

"Well, then, just give me my money back."

"Can't do that. I went and spent it already."

"OK, then. Just unload the mule."

"What ya gonna do with a dead mule?"

"I'm going to raffle him off."

"You can't raffle off a dead mule!"

"Sure I can. I just won't tell anybody he's dead."

A month later the two met up and the farmer who sold the mule asked,

"Whatever happened with that dead mule?"

"I raffled him off just like I said I would. I sold 500 tickets at $2 a piece and made a net profit of $898."

"Didn't anyone complain?"

"Just the guy who won. So I gave him his two dollars back."