There Is a Newer Version
of
the New York Laws
2019 New York Laws
DCD - Debtor and Creditor
Article 10 - Fraudulent Conveyances.
272 - Fair Consideration.
Universal Citation:
NY Debt & Cred L § 272 (2019)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
§ 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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