United States
Many U.S. states enacted their own versions of the Statute of 13 Elizabeth after the American Revolution. The Act was later superseded by the Uniform Fraudulent Conveyances Act of 1918 (UFCA), which in turn was superseded by the Uniform Fraudulent Transfer Act of 1984 (UFTA). To date, UFTA has been enacted in 43 states and the District of Columbia.
Both the Bankruptcy Act of 1938 and the Bankruptcy Reform Act of 1978 also included their own versions of the UFCA, thus ensuring that bankruptcy trustees can "avoid" (in other words, reverse) fraudulent transfers made by the bankrupt person within a certain time window before they filed for bankruptcy.
Read more about this topic: Fraudulent Conveyances Act 1571
Famous quotes related to united states:
“Prior to the meeting, there was a prayer. In general, in the United States there was always praying.”
—Friedrich Dürrenmatt (1921–1990)
“Yesterday, December 7, 1941Ma date that will live in infamy—the United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan.”
—Franklin D. Roosevelt (1882–1945)
“An inquiry about the attitude towards the release of so-called political prisoners. I should be very sorry to see the United States holding anyone in confinement on account of any opinion that that person might hold. It is a fundamental tenet of our institutions that people have a right to believe what they want to believe and hold such opinions as they want to hold without having to answer to anyone for their private opinion.”
—Calvin Coolidge (1872–1933)
“In the United States all business not transacted over the telephone is accomplished in conjunction with alcohol or food, often under conditions of advanced intoxication. This is a fact of the utmost importance for the visitor of limited funds ... for it means that the most expensive restaurants are, with rare exceptions, the worst.”
—John Kenneth Galbraith (b. 1908)
“The real charm of the United States is that it is the only comic country ever heard of.”
—H.L. (Henry Lewis)