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 The Act itself was repealed by the Law of Property Act 1925 s 207, but the successor to the rules laid down are now found in the Insolvency Act 1986 s 423.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)
“And everyone who hears these words of mine and does not act on them will be like a foolish man who built his house on sand. The rain fell, and the floods came, and the winds blew and beat against that house, and it fell-and great was its fall!”
—Bible: New Testament, Matthew 7:26-27.
Jesus.