Fraudulent Conversion - Law Dictionary Search Results
Home Dictionary Name: fraudulent conversionfraudulent conversion
fraudulent conversion : conversion committed with the intent of defrauding someone ...
conversion
conversion 1 a : the act of changing from one form or use to another b : the act of exchanging one kind of property for another ;esp : the act of exchanging preferred stocks or bonds for shares of common stock of the same company usually at a preset ratio or price and at a preset time equitable conversion : the constructive conversion of real property into personal property esp. as a result of a contract for sale of land or testamentary instructions to sell real estate and divide the proceeds NOTE: Equitable conversion is a legal fiction under which the seller of a real property becomes, upon the execution of a contract for the sale of the property, the owner of personal property in the form of legal title to the property that secures payment of the purchase price. The purchaser is deemed to be the holder of equitable title in and owner of the real property, having the rights and being subject to the liabilities that attend that status. In the case of a will in which a property ...
Expulsion
Expulsion, is the turning out the legal proprietor of an estate in reality before the termination of the estate, A Dictionary of Law, William C. Anderson, 1889, p. 57.Is forcing out, Webster American Dictionary, p. 410.In U.K., the House of Commons has the power to expel a member for (a) being in open rebellion, (b) being guilty of forgery, perjury, of frauds and breaches of trusts of misappropriation of public money, of conspiracy to defraud, of fraudulent conversion of property, of corruption in the administration of Justice or in public offices or in the execution of their duties as members of the House, of conduct unbecoming the character of an officer and a gentleman etc., Parliamentary Practice, Erskine May, 22nd Edn., 2001, p. 141.The House of Lords has the right, although absolute, to disqualify a peer from sitting in the House by its sentence when the offender has been tried and found guilty on impeachment. Such disqualifica-tion may be permanent or temporary and is removable ...
Collusive proceeding and fraudulent proceeding
Collusive proceeding and fraudulent proceeding, there is a fundamental distinction between a proceeding which is collusive and one which is fraudulent. When a proceeding is alleged to be fraudulent, what is meant is that the claim made therein is untrue, but that the claimant has managed to obtain the verdict of the court in his favour and against his opponent by practising fraud on the court. Such a proceeding is started with a view to injure the opponent, and there can be no question of its having been initiated as the result of an understanding between the parties. While in collusive proceedings the combat is a mere sham, in a fraudulent suit it is real and earnest, Nagubai Ammal v. B. Shama Rao, (1956) SCR 451: AIR 1956 SC 593 (599). [Transfer of Property Act (4 of 1882), s. 52]...
Stolen property or property fraudulently obtained
Stolen property or property fraudulently obtained, the words 'stolen property or property fraudu-lently obtained' merely denote the attribute or characteristic of the property. If the property is capable of being described as 'stolen property' or 'property fraudulently obtained' by whomsoever it might have been stolen or fraudulently obtained, that would be sufficient to comply with the requirements of the s.. The s. merely speaks of the character of the property - whether it satisfies the particular description and does not say by whom it should have been stolen or fraudulently obtained, Champaklal Ganeshmal v. State of Maharashtra, AIR 1975 SC 160 (162): (1975) 3 SCC 485: (1975) 3 SCR 584. [Bombay Police Act (22 of 1951), s. 124]...
fraudulent conveyance
fraudulent conveyance : a conveyance of property made for the purpose of rendering the property unavailable for satisfaction of a debt or otherwise hindering or defeating the rights of creditors ;specif : a conveyance of property that is made in return for inadequate consideration by one who is insolvent or who is rendered insolvent, undercapitalized, or unable to pay his or her debts as a result of the conveyance or that is made with the intent of hindering, delaying, or defrauding his or her creditors called also fraudulent transfer compare preference NOTE: A fraudulent conveyance is generally voidable by a court or, in a bankruptcy case, by the trustee in bankruptcy. ...
Conversion
Conversion, with its grammatical variations, includes alteration or change of whatever nature. [Places of Worship (Special Provisions) Act, 1991 (42 of 1991), s. 2 (b)]--Where a man who is, lawfully or unlawfully, in possession of the goods of another deals with them in a manner which is inconsistent with the dominion of the owner over them, he is guilty of a conversion. It must be 'an unauthorized act which deprives another of his property permanently or for an indefinite time', Hiort v. Bott, (1874) LR 9 Ex 89. The taking possession of the goods of another is a trespass, as distinct from a conversion, though the latter term is often used to include both. Refusal to restore the goods is prima facie sufficient evidence of a conversion, though it does not amount to a conversion, 10 Rep. 56. See Fouldes v. Willoughby, (1841) 8 M&W 540; Hollins v. Fowler, (1875) LR 7 HL 757; Union Credit Bank Cases, (1899) 2 QB 205; Clerk and Lindsell on Torts, 7th ed., ch. xi.; and TROVER....
Fraudulent conveyances, Statutes against
Fraudulent conveyances, Statutes against, sect. 172 of the (English) L.P. Act, 1925, now provides that every conveyance of property made either or before 1925 with intent to defraud creditors shall be voidable at the instance of any person thereby prejudiced, but the s. does not affect disentailing assurances or the law of bankruptcy, nor does it extend to conveyances in good faith either for valuable or for good consideration to any person without notice of fradulent intent. This enactment replaces 13 Eliz. c. 5 (A.D. 1570), made perpetual by 29 Eliz. c. 5. See Twyne's case, (1602) 3 Rep 80; 1 Smith's L.C. 1; Halifax Bank v. Gledhill, (1891) 1 Ch 31.The 27 Eliz. c. 4, s. 2, made perpetual by 39 Eliz. c. 18, enacts that every conveyance of lands, made with the intent to defraud and deceive any person, bodies politic or corporate, who shall purchase the same, shall be deemed (as against that person, etc.) to be utterly void. But the Act shall not be construed to defeat or make void any ...
Fraudulent preferences
Fraudulent preferences. Every conveyances or tran-sfer of property or charge thereon made, every payment made, every obligation incurred, and every judicial proceeding taken or suffered by any person unable to pay his debts as they became due from his own moneys, in favour of any creditor, with a view of giving such creditor a preference over other creditors, is fraudulent and void as against the trustee in bankruptcy if the debtor becomes bankrupt within three months, Bankruptcy Act, 1914, s. 44; and see Companies Act, 1925, s. 265, in regard to winding-up of companies....
Fraudulent proceeding
Fraudulent proceeding, When a proceeding is alleged to be fraudulent, what is meant is that the claim made therein is untrue, but that the claimant had managed, to obtain the verdict of the court in his favour and against his opponent by practicing fraud on the Court. Such a proceeding is started with a view to injure the opponent and there can no question of its having been initiated as the result of an understanding between the parties, Nagubai Ammal v. B. Shama Rao, AIR 1956 SC 593 (599). [Transfer of Property Act, 1882, s. 52]...
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