How Long Can the Contract Bar Doctrine Extend the 12-Month

question 29

Multiple Choice

How long can the contract bar doctrine extend the 12-month statutory limitation on elections?

• A) Three years.
• B) 24 months.
• C) 48 months.
• D) Five years.
• E) Seventy-eight weeks.

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Definitions:

Speculative Motive

The intention to hold cash or other assets in anticipation of profit from fluctuations in their prices or exchange rates.

Investment Opportunities

Options available to individuals and firms to invest capital with the intent to generate returns.

Bargain Purchases

Acquisitions made at a price significantly below the fair market value of the asset, resulting in an immediate gain for the purchaser.