Altruism (biology) most common mechanism of reciprocity in nature, this kind is present in humans, primates, and many other mammals. Also known as, "If you're nice, I'll be nice too." This mechanism of reciprocity is similar to the heuristic of the golden rule, "Treat others how you would like to be treated." Parties mirror one another's attitudes, exchanging favors on the spot. Instant attitudinal reciprocity occurs among monkeys, and people often rely on it with strangers and acquaintances. Also known as, "what have you done for me lately?" Individuals keep track of the benefits they exchange with particular partners, which helps them
Like-kind exchange like-kind exchange is often encumbered by liabilities and debt, especially where the asset is real estate. In this regard, the tax code treats relief from indebtedness as additional cash boot in a like-kind exchange. In other words, the assumption of a taxpayer's debt is treated like the receipt of cash by the taxpayer. For instance, let's say a taxpayer has an asset worth $20,000 and a basis of $8,000 with a debt in the amount of $4,000. The taxpayer trades the asset in exchange for like-kind property worth $16,000, and the other party to the exchange expressly assumes the $4,000