Fraudulent Transfer - Law Dictionary Search Results
Home Dictionary Name: fraudulent transferfraudulent transfer
fraudulent transfer A transfer of a debtor's property made with intent to defraud or for which the debtor receives less than the transferred property's value. Source: Administrative Office of the U.S. Courts ...
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. ...
Deep Rock doctrine
Deep Rock doctrine [from Deep Rock, a debtor corporation found to have been used for fraudulent transfers to its parent corporation in the Supreme Court case Taylor v. Standard Gas and Electric Co. (Deep Rock), 306 U.S. 307(1939)] : a doctrine holding that the claim of a stockholder and esp. a stockholder with controlling interest who makes a loan to his or her own corporation will be subordinated to the claims of outside creditors if the corporation is deemed undercapitalized ...
UFTA
UFTA Uniform Fraudulent Transfer Act see also the Important Laws section ...
consideration
consideration : something (as an act or forbearance or the promise thereof) done or given by one party for the act or promise of another see also contract compare motive NOTE: Except in Louisiana, consideration is a necessary element to the creation of a contract. The consideration must result from bargaining by the parties, and must be the thing that induces the mutual promises. ad·e·quate consideration : a consideration that is reasonably equivalent in value to the thing for which it is given fair consideration : a consideration that is reasonable and given in good faith ;specif : something with a reasonably equivalent value that under the laws of fraudulent conveyances is given in good faith in exchange for the transfer of property good consideration 1 : a consideration based on a family relationship or natural love and affection 2 : valuable consideration in this entry NOTE: When used as defined in sense 1 good consideration is the opposite of valuable consider...
reasonably equivalent value
reasonably equivalent value : value that is a fair amount for property transferred by a debtor esp. in bankruptcy and that is not therefore evidence of a fraudulent conveyance see also fair consideration at consideration ...
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]...
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]...
Forgery
Forgery [fr. forger, Fr.; or fingo, Lat.], the crimen falsi, or the false making or alteration of an instrument, which purports on the face of it to be good and valid for the purposes for which it was created, with a design to defraud. The forged instrument must be false in itself. The mere subscribing a note, given as the party's own, by a fictitious name, was held not to be forgery, Reg. v. Martin, (1879) 5 QBD 34.The act of fraudulently making a false document or altering a real one to be used as if genuine, Black's Law Dictionary, 7th Edn., p. 661.Forgery at Common Law was a misdemeanour but most forgeries have been made felony by statute. Many of these statutes were consolidated by 11 Geo. 4 & 1 Wm. 4, c. 66, repealed and replaced by the Forgery Act, 1861 (24 & 25 Vict. c. 98), but the law now principally depends on the Forgery Act, 1913 (3 & 4 Geo. 5, c. 27, 'an Act to consolidate, simplify and amend the law relating to forgery and kindred offences.' It repeals such portions of s...
Gift
Gift. The old text-writers made a gift (donatio) a distinct species of deed, and describe it as a conveyance applicable to the creation of an estate-tail; while a feoffment they strictly confine to the creation of a fee simple estate. The operative verb was 'give,' which no longer implies any covenant in law (Real Property Act, 1845 (8 & 9 Vict. c. 106), s. 4), replaced by the Law of Property Act, 1925, s. 59(2), and the deed required livery of seisin. It is obsolete. See Jac. Law Dict.A gift is now understood to mean a mere voluntary assurance or transfer of property without any consideration being given for it. Such a transaction is apt to be very jealously scrutinized in a Court of Equity, and will be set aside on proof of undue influence (see that title), or of a fiduciary relationship of the donee to the donor, see Huguenin v. Baseley, (1806-8) 14 Ves 273; W. & T. L.C.; Morley v. Loughman, (1893) 1 Ch 736 (757); Lyon v. Home, (1868) LR 6 Eq 655. In the absence of any such objectio...
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