The Use of § 351 Is Not Limited to the Initial

question 71

True/False

The use of § 351 is not limited to the initial formation of a corporation, and it can apply to later transfers as well.

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Definitions:

Obvious Risks

Hazards or dangers that are clear and recognizable to a reasonable person without the need for explicit warning.

Strictly Liable

A legal principle where an individual or organization is held responsible for damages or injuries caused by their actions or products, regardless of fault or intent.

Soft Drinks

Non-alcoholic beverage, typically carbonated, which includes sodas, colas, and other flavored and sweetened drinks.

Misrepresentation

The act of providing false or misleading statements or information, intentionally or unintentionally, about a material fact.