The regulatory issues aside, the contract as described purports to give the wholesaler the right but not the duty to purchase a house in exchange for $10.  

The real question is, what would the contractor accept in equity for his $300k in cash and how do you control the cost situation of the purported labor and materials at cost provided by contractor.

AREC looks to the intent of the purported buyer and takes the position that the “buyer” must have an actual intent to close on the purchase of the property or the “buyer” will not qualify for the ownership exemption.

Since the method of payment was similar to laundromats the income purported is not always the same as reported! 

Insurance companies are in the business of making money which often conflicts with what they purport to do: protect their clients.

I don't purport to know the legalities of whether his wholesaling activities are within the conscribes of Texas law!  

@Deepika Tandon Based on my experience most companies that offer Cost Segregation studies will perform a complimentary report that they purport to be a conservative projection you can expect if you elect to use this accounting method.The quoted cost of the formal study varied widely (from a low of $X to $5X$).Please Send me a PM if you’d like to discuss this in greater detail.

What matters is that (a) they did it in the name of Islam, however misguided they may have been, (b) their entire training was through extremist Islamic indoctrination and (c) there was widespread rejoicing by other Islamic nuts after the tragedy.I have no doubt that the majority of Muslims do not support the nuts, but we cannot claim that the act did not have a purported Islamic justification.

I picked up a package purporting to have a videocassette of child pornography.

The 2nd argument breaks down very quickly as has been clearly demonstrated.THAT is what O'Donnell was purported to be claiming I guess...and it is idiotic as you have now finally conceded.