If Property Is Distributed to a Shareholder as a Dividend

question 45

True/False

If property is distributed to a shareholder as a dividend, the dividend is equal to the property's
fair market value.

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Definitions:

Voidable

A term referring to a contract or transaction that remains valid until one party decides to cancel or nullify it due to certain legal defenses.

Minor

An individual under the legal age of adulthood, which varies by jurisdiction but is commonly 18.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights.

Mistake Of Fact

A mistake of fact refers to a misunderstanding or incorrect belief about a fact relevant to a contract or a legal proceeding, affecting the decisions made by the parties involved.