Uniform Fraudulent Transfer Act of 1984
What section of the UFTA defines transfer of property?
§ 1(12)
"a means of finding fraud based on inference from circumstances rather than proof of actual intent."
Constructive Fraud
What section of the UFTA is remedies offered?
§ 7
"statutory interest that runs on a final judgment from the date entered until paid."
post judgment interest
What is the 3rd possibility for final judgment?
"is that the lawsuit is contested but settled prior to trial"p227
What must be shown to get relief from the UFTA?
"intent to defraud, hinder or delay"
"The inability to pay debts as they come due or the state of having total liabilities in excess of total assets."
Insolvency
Name a remedy?
"Avoid the transfer or obligation to the extent necessary to satisfy the creditor's claim"p226
"An appearance before a court seeking relief without notice to or presence of other parties."
Ex parte
What results in a final judgment?
"default by defendant or at the conclusion of a trial on the merits"p227
Under what section of the UFTA is fraudulent transfer outlined?
§ 4(a)(2)
What are (3) writs mentioned in the chapters.
ne exeat, writ of attachment(p218), writ of arrest
What type of fraud intent does not need to be proven?
Constructive Fraud
"proceeding in which a person is appointed to take control of a debtor's property and manage it under court supervision."
Receivership
Second reason for awarding prejudgment interest?
"Circumstance where prejudgment interest may be awarded is where there is not contractual provision dealing with it but where principles of equity allow it."
What defines a fraudulent transfer(1)?
if the debtor transfer the property without receiving reasonably equivalent value in exchange for the transfer...
"a court order directing a party to do or to cease doing something on pain of contempt."
Injunction
§ 4(a)(2)
"a civil action for the recovery or provisional possession of specific personal property."
Replevin
(1) reason for awarding prejudgment interest?
"the parties have a contract expressly providing for it"
What defines fraudulent transfer(2)?
"the debtor is insolvent at the time of the transfer or becomes insolvent as a result of the transfer or is left with unreasonably small capital to continue in business as a result of the transfer"
"The price at which property would change hands between a willing buyer and a willing seller."
Fair Market Value
Badges of fraud were incorporated into what?
UTFA §4(b) p223-224
"in the law of fraudulent transfer, certain recognized circumstances from which the inference may fairly be drawn that a transfer was made with intent to defraud creditors."
What is Idaho's statute for post judgment interest?
IDAHO CODE § 28-22-104