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Simple English definitions for legal terms

fraud on creditors

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A quick definition of fraud on creditors:

Fraud on creditors is when someone tries to hide or give away their property to avoid paying back money they owe to someone else. This is also called a fraudulent conveyance. It's like cheating because they are trying to keep their things safe from the people they owe money to. This is not allowed and is against the law.

A more thorough explanation:

Definition: Fraud on creditors refers to a fraudulent conveyance, which is a transfer of property for little or no consideration, made with the intention of hindering or delaying a creditor by putting the property beyond their reach. It is a transaction where the owner of real or personal property tries to place the property out of the reach of creditors.

Example: John owes a large sum of money to his creditors. To avoid paying them, he transfers his house to his brother for a nominal amount, which is much less than the actual value of the property. This transfer is a fraudulent conveyance or fraud on creditors because John is trying to put his property beyond the reach of his creditors.

Explanation: In this example, John is trying to avoid paying his creditors by transferring his property to his brother for a nominal amount. This transfer is fraudulent because John is trying to hide his assets from his creditors. By doing so, he is hindering or delaying his creditors from collecting the money he owes them. This is an example of fraud on creditors.

fraud in the execution | fraud on the community

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babycat
16:00
@shaquilleoatmeal: I’ll stop by just for you. I gotta grind out some of my last essays tn.
shaquilleoatmeal
16:02
@soyalmondoatmilk: im weak af, can't handle that spicy cashew lmao
shaquilleoatmeal
16:03
@babycat: 😘 see you in a bit, grind out those essays before you hop back on
shaquilleoatmeal
16:04
appreciate the non wink since you didn't appreciate it them then lol
babycat
16:06
I'll do it for you ;)
16:06
Tough to justify attending a law school where the admissions office does epic resistance political commentary at the info session
BulbasaurNoLikeCardio
16:07
making me feel jealous here wow, I am about to go taste test a bunch of deserts for our baby shower this weekend.
BulbasaurNoLikeCardio
16:07
@milktoast: what school got political at an info session?
shaquilleoatmeal
16:11
nothin to be jealous about, i've been trying to slide into babycats dms but shes got a long line I guess I gotta wait in to see if I can get in lmao
babycat
16:11
omg if you get into ASU they give you travel expense reimbursement to go there for a visit. does anyone know which other schools do this? I'd love to get a comped vacation
shaquilleoatmeal
16:12
think BU gives you $300 or somethin
ClassyPleasantHeron
16:12
Where is ASU getting this kind of $$$ from? They waive CAS fees too.
babycat
16:13
@shaquilleoatmeal: yeah but then you have to go to Boston :(
shaquilleoatmeal
16:14
uva too
shaquilleoatmeal
16:14
whats wrong w boston ;(
GOT PROMOTED YAY how do i tell law schools abt this?
like do i type up and separate doc and send as an attachment? how much do i write?
shaquilleoatmeal
16:15
@jackfrost11770: LFGGGG
TYYYYYY
shaquilleoatmeal
16:16
do any of your schools have updated sections in the portal? If so, i'd upload there, if not email. Small paragraph should do it id think
1a2b3c4d26z
16:16
Who wanna play some operation metro later on
1a2b3c4d26z
16:16
Congrats jack!
thank you!!
babycat
16:16
@jackfrost11770: personally I would submit an updated resume reflecting the new position instead of a paragraph but idk what SOP is
getting a bacon egg and cheese in celebration
1a2b3c4d26z
16:18
lfg baby you earned that
babycat
16:20
also congrats!! big win
initiallaw
16:23
congrats!!
:D
the big W is that i get reimbursed for travel now thank GOD
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