2005 Connecticut Code - Sec. 52-552e. Transfers fraudulent as to present creditors.
Sec. 52-552e. Transfers fraudulent as to present creditors. (a) A transfer made
or obligation incurred by a debtor is fraudulent as to a creditor, if the creditor's claim
arose before the transfer was made or the obligation was incurred and if the debtor made
the transfer or incurred the obligation: (1) With actual intent to hinder, delay or defraud
any creditor of the debtor; or (2) without receiving a reasonably equivalent value in
exchange for the transfer or obligation, and the debtor (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, or (B) intended to
incur, or believed or reasonably should have believed that he would incur, debts beyond
his ability to pay as they became due.
(P.A. 91-297, S. 5.)
Determination of question of fraudulent intent is clearly an issue of fact which must often be inferred from surrounding circumstances. 54 CA 481.
Subsec. (a):
Subdiv. (1) cited. 46 CA 199. Subdiv. (2) cited. Id.
Subsec. (b):
Cited. 46 CA 399.
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