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Simple English definitions for legal terms

Uniform Fraudulent Conveyances Act

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A quick definition of Uniform Fraudulent Conveyances Act:

The Uniform Fraudulent Conveyances Act is a law created in 1918 to address situations where people who are unable to pay their debts try to transfer their assets to someone else to avoid paying their creditors. The law distinguishes between actions that are automatically considered fraudulent and those that require proof of intent to deceive.

A more thorough explanation:

The Uniform Fraudulent Conveyances Act is a law created in 1918 to address situations where people who are unable to pay their debts try to transfer their assets to someone else in order to avoid having to pay their creditors. This is called a fraudulent conveyance.

The act distinguishes between two types of fraudulent conduct:

  • Conduct that is presumed to be fraudulent, meaning that it is automatically considered fraudulent without any need to prove intent.
  • Conduct that requires an actual intent to commit fraud, meaning that the person transferring the assets must have intended to defraud their creditors.

For example, if someone who owes a lot of money to their creditors gives away all of their valuable possessions to a friend or family member for no reason, that transfer would be considered a presumed fraudulent conveyance. On the other hand, if someone sells their car to a friend for less than it is worth in order to avoid having to use the money to pay their debts, that transfer would require proof that the person intended to defraud their creditors.

The Uniform Fraudulent Conveyances Act helps protect creditors by making it more difficult for debtors to transfer their assets in an attempt to avoid paying their debts.

Uniform Enforcement of Foreign Judgments Act | Uniform Fraudulent Transfer Act

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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