Twining Corporation Has Some Land It Wants to Trade for a Building

question 14

Multiple Choice

Twining Corporation has some land it wants to trade for a building owned by Clopp Corporation.Clopp does not want to exchange the building because it wants to recognize its loss on the building.Twining,however,does not want to recognize its gain.What alternative(s) does Twining have?

• A)Twining can sell its land to a third party and take the money and purchase the building.
• B)Twining can have a third party purchase the building and have the third party trade for the land.
• C)Twining can complete a nonsimulataneous exchange within one year of identifying the desired property.
• D)All of the above are acceptable alternatives.
• E)None of the above is an acceptable alternative.

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Definitions:

High Level of Autonomy

A state or condition of having significant independence or freedom in decision-making or actions.

Federal Arbitration Act

A United States federal statute that provides for the enforcement of arbitration agreements within the context of federal and interstate matters.

Final and Definite Award

In arbitration, a conclusive decision given by an arbitrator that resolves the dispute and is binding on all parties.

Arbitrator's Bias

A situation in which an arbitrator, who is supposed to act as an impartial third-party decision-maker in a dispute resolution process, shows unfair bias towards one of the parties.