Bernie Nohave Is Operating a Scheme Whereby Investors' Money Is

question 30

Multiple Choice

Bernie Nohave is operating a scheme whereby investors' money is utilized to buy AIDS drugs in Africa.The money is then deductible as a charitable donation for tax purposes.Tom invests in this scheme to generate tax losses knowing that medicine is not being purchased.Is the contract valid?

• A)No,everyone knows that Bernie is bankrupt.
• B)No,this transaction is ultra vires Bernie Nohave's corporation.
• C)No,there is no consideration.
• D)No,there is no capacity.
• E)No,the subject matter of the contract is illegal.

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Definitions:

Public Social Networking

The use of online platforms and communities where individuals can interact, share, and communicate openly with a wide audience.

Drug Formulation

The process of designing and producing medications with specific composition and dosage to ensure optimal efficacy, safety, and stability.

Leadership Polarity

The concept of managing and balancing opposing or contrasting characteristics in leadership styles or organizational dynamics.