One Type of Fraudulent Transfer Consists of The

question 54

Multiple Choice

One type of fraudulent transfer consists of the:

• A) distribution of the debtor's property among creditors.
• B) debtor's transferring property with actual intent to hinder her creditors.
• C) avoidance of statutory liens when debtor becomes insolvent.
• D) discharge of debts of unsecured tardy creditors.

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Definitions:

Collecting Bank

A bank that processes checks or payments on behalf of a depositor, responsible for the collection of funds from the paying institution.

Debtor-Creditor Relationship

The financial relationship that occurs when an individual or entity (debtor) borrows money from another (creditor), with the promise of repaying the loaned amount.

Settlement

refers to the agreement reached by disputing parties outside of court to resolve a lawsuit, often involving the payment of compensation or undertaking specific actions.

Warranties

Promises or guarantees made by a seller regarding the condition or functionality of a product or service.