Accepting the property instead of the money, Business Law and Ethics

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Accepting the property instead of the money

Problem: Vince owes Colton $140,000 under a previous contract. Vince does not have the money but does own property worth approximately $140,000. Colton agrees to accept the property instead of the money and Vince transfers the property to him. The transfer is called?

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Business Law and Ethics: Accepting the property instead of the money

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Business Law and Ethics: Accepting the property instead of the money

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