The Fraudulent Conveyances Act 1571 (13 Eliz 1, c 5), also known as the Statute of 13 Elizabeth, was an Act of Parliament in England, which laid the foundations for fraudulent transactions to be unwound when a person had gone insolvent or bankrupt. The Act itself was repealed by the Law of Property Act 1925 s 207, but the successor to the rules laid down are now found in the Insolvency Act 1986 s 423.
Read more about Fraudulent Conveyances Act 1571: Text, Cases Under The Act, United States, See Also
Famous quotes containing the words fraudulent and/or act:
“It is told that some divorcees, elated by their freedom, pause on leaving the courthouse to kiss a front pillar, or even walk to the Truckee to hurl their wedding rings into the river; but boys who recover the rings declare they are of the dime-store variety, and accuse the throwers of fraudulent practices.”
—Administration in the State of Neva, U.S. public relief program. Nevada: A Guide to the Silver State (The WPA Guide to Nevada)
“You know you don’t have to act with me, Steve. You don’t have to say anything, and you don’t have to do anything. Not a thing. Oh, maybe just whistle. You know how to whistle, don’t you, Steve? You just put your lips together, and blow.”
—Jules Furthman (1888–1960)