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2015 New York Laws
DCD - Debtor & Creditor
Article 10 - (Debtor & Creditor) FRAUDULENT CONVEYANCES.
272 - Fair consideration.

NY Debt & Cred L § 272 (2015) What's This?
  272.  Fair consideration. Fair consideration is given for property,
  or obligation,

a. When in exchange for  such  property,  or  obligation,  as  a  fair
  equivalent  therefor,  and  in  good  faith,  property is conveyed or an
  antecedent debt is satisfied, or

b. When such property, or obligation is  received  in  good  faith  to
  secure   a   present   advance   or   antecedent   debt  in  amount  not
  disproportionately small as compared with the value of the property,  or
  obligation obtained.

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