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Three people in a crashing plane fight over the parachutes. But the outcome is dizzying

A lawyer, a priest, and a young boy were in a small plane that was going to crash, yet they only had two parachutes to the three of them.
The lawyer suddenly announced, "I'm the smartest man on this plane. I deserve to survive!"
He took a bag right from little Jimmy's arms and jumped. 
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The priest looked at the young boy and, reflecting back on his life, told Jimmy to take the last parachute since he had already lived a wonderful and full life.
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Jimmy replied, "You can have the other chute. The 'smartest man on this plane' just jumped out with my book bag!"
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