Jim Salazar is the majority shareholder of XYZ Co.XYZ Co.filed for Chapter 11 Bankruptcy on January 1,2008.Which of the following may be considered a fraudulent transfer?
A) Transfer of land to Jim's sister Alice on July 1, 2006.
B) Sale of inventory at regular price to a new customer on February 15, 2008.
C) Transfer of fixed assets to Jim's brother John on December 15, 2007.
D) Transfer of inventory to a subsidiary for less than fair value on August 1, 2006.
E) Both a and c are correct.
Correct Answer:
Verified
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