Unlike express warranties, implied warranties:
a. are not automatically imposed on sellers unless they specifically disclaim them b. are automatically imposed on sellers unless they specifically disclaim them
c. cannot be automatically imposed on sellers d. are imposed by the buyer
e. are imposed by the seller
b
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An important development in the level of worldwide FDI is the emergence of what has been called the "bamboo network" of ethnic Chinese family businesses based outside China
a. true b. false
Sampson owned a triplex valued at $160,000, with an adjusted basis of $70,000. King owned a duplex valued at $155,000. Both properties were owned free and clear. They exchanged their properties, with King giving Sampson $5,000 in cash. For Federal Income Tax purposes:
A: Both will be taxed on the difference between the value and the basis; B: King has a taxable gain; C: Sampson has a recognized gain; D: Neither has a taxable gain.