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The "Similar or Related in Service or Use" Requirement for Property

question 19

True/False

The "similar or related in service or use" requirement for property involuntarily converted is less restrictive than the like-kind exchange requirements.


Definitions:

Strictly Liable

A legal condition where a party is responsible for damages or loss, regardless of fault or negligence.

Dangerous Object

An item that through its inherent characteristics, use, or misuse, can reasonably be foreseen to cause injury or harm.

Motor Vehicle

A self-propelled vehicle used for transporting passengers or goods on a road.

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