N.Y. Debtor and Creditor Law 277 – Defenses, liability, and protection of transferee or obligee
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Terms Used In N.Y. Debtor and Creditor Law 277
- Asset: means property of a debtor, but the term does not include:
(1) property to the extent it is encumbered by a valid lien; (2) property to the extent it is generally exempt under non-bankruptcy law; or (3) an interest in property held in tenancy by the entirety to the extent it is not subject to process by a creditor holding a claim against only one tenant. See N.Y. Debtor and Creditor Law 270 - Creditor: means a person that has a claim. See N.Y. Debtor and Creditor Law 270
- Debt: means liability on a claim. See N.Y. Debtor and Creditor Law 270
- Debtor: means a person that is liable on a claim. See N.Y. Debtor and Creditor Law 270
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Insider: includes :
(1) if the debtor is an individual: (i) a relative of the debtor or of a general partner of the debtor; (ii) a partnership in which the debtor is a general partner; (iii) a general partner in a partnership described in subparagraph (ii) of this paragraph; or (iv) a corporation of which the debtor is a director, officer, or person in control; (2) if the debtor is a corporation: (i) a director of the debtor; (ii) an officer of the debtor; (iii) a person in control of the debtor; (iv) a partnership in which the debtor is a general partner; (v) a general partner in a partnership described in subparagraph (iv) of this paragraph; or (vi) a relative of a general partner, director, officer or person in control of the debtor; (3) if the debtor is a partnership: (i) a general partner in the debtor; (ii) a relative of a general partner in, a general partner of or a person in control of the debtor; (iii) another partnership in which the debtor is a general partner; (iv) a general partner in a partnership described in subparagraph (iii) of this paragraph; or (v) a person in control of the debtor; (4) an affiliate, or an insider of an affiliate as if the affiliate were the debtor; and (5) a managing agent of the debtor. See N.Y. Debtor and Creditor Law 270 - Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Lien: means a charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien. See N.Y. Debtor and Creditor Law 270
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means an individual, estate, partnership, association, trust, business or nonprofit entity, public corporation, government or governmental subdivision, agency or instrumentality, or other legal or commercial entity. See N.Y. Debtor and Creditor Law 270
- Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, license, and creation of a lien or other encumbrance. See N.Y. Debtor and Creditor Law 270
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC