Examlex
Indicate with a "yes" or a "no" which of the following are like-kind exchanges (assume all assets are held for business or investment purposes).
a.Exchange of common stock held as an investment for land held as an investment.
b.Exchange of farmland for an apartment building.
c.Exchange of office furniture used in trade or business for computer used in a trade or business
d.Exchange of unimproved real estate for improved real estate.
e.Exchange of automobile used in trade or business for bulldozer used in trade or business
Negligence
An unintentional, careless act or omission that causes injury to another person or his property.
Sale of Goods Act
Legislation governing the sale of goods, providing rights and obligations for both buyers and sellers.
Goods and Services
Tangible products and intangible activities offered to consumers or businesses in the marketplace.
Caveat Emptor
“Let the buyer beware”; a principle that the purchaser must examine, judge, and test for herself.
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