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.

---

Definitions:

Paid Vacation

Employer-provided benefit that offers employees paid time off from work, which can be used for personal time, holidays, or travel.

Sufficient Wages

Compensation or income levels that are adequate to support a worker's basic needs and living expenses.

United States Code

The codification of the general and permanent laws of the United States, organized by subject matter.

Laws Enacted

Legislation that has been officially made law through the process of approval by a governing body.