272 - Fair Consideration.

NY Debt & Cred L § 272 (2019) (N/A)
Copy with citation
Copy as parenthetical 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.