Fraudulent Transfer Act

Definition of "Fraudulent Transfer Act"
  1. A law that allows a creditor to take legal action against a debtor who knowingly transferred property to someone else without receiving equal value in return, essentially trying to evade paying their debt
How to use "Fraudulent Transfer Act" in a sentence
  1. Under the Fraudulent Transfer Act, creditors could invalidate the sale of the company's assets because they didn't receive enough payments before the transaction.
  2. The bank invoked the Fraudulent Transfer Act to claim the debtor's assets that were transferred without settling their debt.
  3. The debtor was sued by his creditors under the Fraudulent Transfer Act for giving away his property to avoid paying his debts.

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