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LSDefine

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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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.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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