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(b)predominates.

Question

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According to the language of the statute, if both §§ 357(b) and (c) apply to the same transfer and there is a conflict, § 357(b) will be given priority.

If Both §§ 357(b)and (C)apply to the Same Transfer (I