When No Consideration Is Given for an Assignment, Creditors of the Assignor

question 46

True/False

When no consideration is given for an assignment, creditors of the assignor may have the assignment rescinded on the grounds that it is a fraudulent conveyance.

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Definitions:

Release Bearing

A bearing that disables the transmission from the engine, commonly used in the operation of a vehicle's clutch system.

Clutch Cover

Part of the clutch assembly that encloses the clutch disc, pressure plate, and springs, protecting them and helping to engage or disengage the drive.

Creep Feature

A function in some automatic transmissions allowing the vehicle to move slowly forward or backward without pressing the gas pedal.

Eaton Wet Clutch

A type of clutch system designed by Eaton that uses fluid to transmit power, often used in heavy-duty applications.