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LSDefine

Simple English definitions for legal terms

colorable transaction

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A quick definition of colorable transaction:

A colorable transaction is a sneaky deal that looks real, but is actually fake or wrong. It's like when someone pretends to sell something for a really low price, but they're just pretending. If a court finds out a transaction is colorable, they won't let it count. This can happen with other things too, like when someone pretends to have an important job or a big claim, but it's not true.

A more thorough explanation:

A colorable transaction is a type of transaction that appears to be legitimate but is actually fraudulent or invalid. This term is often used in hindsight when the transaction is proven to be invalid. It is similar to a sham transaction, which is also a fraudulent or invalid transaction.

One example of a colorable transaction is the sale of a painting worth $100,000 for $10. In the case of O’Neill v. Delaney, the court refused to uphold this transaction because it was colorable. This means that the sale appeared to be legitimate, but upon further inspection, it was found to be fraudulent or invalid.

Another example of a colorable transaction is when a person sells a car to a friend for $1. While this may appear to be a legitimate transaction, it could be considered colorable if the seller is trying to hide the true value of the car from creditors or other parties.

Office, title, and claims can also be colorable. For example, if a person claims to be the owner of a property but does not have the legal right to do so, this claim would be considered colorable.

In summary, a colorable transaction is a transaction that appears to be legitimate but is actually fraudulent or invalid. Courts will not uphold these types of transactions.

colorable claim | Colorado

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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