Title 25, Title 25: FRAUDS AND FRAUDULENT CONVEYANCES

25:2-23 Insolvency. 25:2-23. Insolvency. a. A debtor is insolvent if, at a fair valuation, the sum of the debtor's debts is greater than the sum of the debtor's assets. b. A debtor who is generally not paying the debtor's debts as they become due other than as a result of a bona …

25:2-24 Value. 25:2-24. Value. a. Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ord…

25:2-25 Transfer or obligation voidable as to present or future creditor. 25:2-25. Transfer or obligation voidable as to present or future creditor. a. A transfer made or obligation incurred by a debtor is voidable as to a creditor, whether the creditor's claim arose before or af…

25:2-26 Factors in determining intent. 25:2-26. Factors in determining intent. In determining actual intent under paragraph (1) of subsection a. of R.S.25:2-25 consideration may be given, among other factors, to whether: a. The transfer or obligation was to an insider; b. The deb…

25:2-27 Transfer or obligation voidable as to present creditor. 25:2-27. Transfer or obligation voidable as to present creditor. a. A transfer made or obligation incurred by a debtor is voidable as to a creditor whose claim arose before the transfer was made or the obligation was…

25:2-28 When transfer is made or obligation incurred. 25:2-28. When transfer is made or obligation incurred. For the purposes of this article: a. A transfer is made: (1) With respect to an asset that is real property other than a fixture, but including the interest of a seller or…

25:2-29 Remedies of creditor. 25:2-29. Remedies of creditor. a. In an action for relief against a transfer or obligation under this article, a creditor, subject to the limitations in R.S.25:2-30, may obtain: (1) Avoidance of the transfer or obligation to the extent necessary to s…

25:2-30 Defenses, liability and protection of transferee or obligee. 25:2-30. Defenses, liability and protection of transferee or obligee. a. A transfer or obligation is not voidable under paragraph (1) of subsection a. of R.S.25:2-25 against a person who took in good faith and f…

25:2-31 Extinguishment of claim for relief. 25:2-31. Extinguishment of claim for relief. A claim for relief with respect to a transfer or obligation under this article is extinguished unless action is brought: a. Under paragraph (1) of subsection a. of R.S.25:2-25, not later than…

25:2-32 Supplementary provisions. 25:2-32. Supplementary provisions. Unless displaced by the provisions of the "Uniform Voidable Transactions Act," R.S.25:2-20 et seq., the principles of law and equity, including the law merchant and the law relating to principal and agent, estop…

25:2-33 Uniformity of application and construction. 25:2-33. Uniformity of application and construction. The "Uniform Voidable Transactions Act," R.S.25:2-20 et seq., shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subj…

25:2-34. Laws repealed The following are repealed: R.S. 25:2-7 through R.S. 25:2-19 inclusive. N.J.S. 14A:14-10 through N.J.S. 14A:14-12 inclusive. Source: New. L. 1988, c. 74, s. 1.

25:2-35 Governing law. 13. Governing law. a. In this section, the following rules determine a debtor's location: (1) A debtor who is an individual is located at the individual's principal residence. (2) A debtor that is an organization and has only one place of business is locate…

25:2-36 Relation to "Electronic Signatures in Global and National Commerce Act." 16. Relation to "Electronic Signatures in Global and National Commerce Act." This article modifies, limits, and supersedes the "Electronic Signatures in Global and National Commerce Act," 15 U.S.C. s…