If Both §§ 357(b) and (C) Apply to the Same

question 106

True/False

If both §§ 357(b) and (c) apply to the same transfer (i.e., the liability is not supported by a bona fide business purpose and also exceeds the basis of the properties transferred), § 357(c) predominates.

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Definitions:

Disjuncts

Elements within a disjunction, a logical structure where at least one of the parts must be true for the whole to be considered true.

Antecedents

In logic, the conditions or propositions that precede and imply the consequent in a conditional statement.

Consequents

The outcome or result in a hypothetical proposition, typically following the word "then" in an "if...then..." structure.

Tilde

The tilde is a character ( ~ ) used above a letter in some languages to denote a specific pronunciation and in mathematics to indicate equivalence or similarity.