Which of the Following Statements with Respect to a Like-Kind

question 37

Multiple Choice

Which of the following statements with respect to a like-kind exchange is false?

• A)Property of one class must be exchanged for property of the same class.
• B)An exchange of inventory does not qualify as a like-kind exchange.
• C)Personal property must be exchanged for personal property.
• D)Sale of property and subsequent purchase of like-kind property will always qualify as a like-kind exchange.

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Definitions:

Intentional Interference

Deliberate actions by a person to disrupt or prevent contractual relations or economic expectancies between parties.

Void Bargains

Agreements that have no legal force or effect from the outset due to a fundamental defect or illegality.

Illegal Contracts

Agreements that are not enforceable by law because they involve activities that are illegal.

Interference with Contractual Relations

Interference with Contractual Relations involves intentionally causing a party to a contract to fail to fulfill their obligations, harming the contractual relationship.