Which One of the Following Is Not Considered Boot in a Like-Kind

question 101

Multiple Choice

Which one of the following is not considered boot in a like-kind exchange?

• A) Cash.
• B) Other property.
• C) Mortgage given.
• D) Mortgage received.
• E) All of these.

---

Definitions:

Contractual Duty

Obligations that a party is legally bound to perform under a contract.

Debt Collector

A person or company tasked with collecting money owed on past due accounts from debtors.

Original Terms

The initial conditions and stipulations as set forth in an agreement or contract, before any amendments or modifications.

Creditor Beneficiary

A third party that benefits from a contract, particularly in contexts where the promisee's intention is to pay a debt to the beneficiary.