Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Uniform Fraudulent Conveyances Act

Read a random definition: SECTION 43(A) ACTION

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
LSD+ is ad-free, with DMs, discounts, case briefs & more.