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 Post subject: Transfer Fraudulent Without Equivalent Value 3439.04(a)(2)
PostPosted: Wed Dec 24, 2008 7:42 am 
Partner of Riser Adkisson LLP
Partner of Riser Adkisson LLP
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Joined: Fri Dec 12, 2008 3:11 pm
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CUFTA 3439.04(a)(2)

(a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation as follows:

Quote:
(2) Without receiving a reasonably equivalent value in exchange for the transfer or obligation, and the debtor either:

Quote:
(A) Was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction.

(B) Intended to incur, or believed or reasonably should have believed that he or she would incur, debts beyond his or her ability to pay as they became due.

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