s.2Definitions
2
Section 2Part 0 —

Definitions

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In this Law —
"creditor" means a person to whom an obligation is owed;
"disposition" has the same meaning as in Part VI of the Trusts Law (1996 Revision);
"intent to defraud" means an intention of a transferor wilfully to defeat an obligation owed to a creditor;
"obligation" means an obligation or liability (which shall include a contingent liability) which existed on or prior to the date of a relevant disposition and of which the transferor had notice;
"relevant disposition" means a disposition to which section 4(1) applies;
"transferor" means the person who, as owner or as the holder of a power in that behalf directly or indirectly, makes a relevant disposition or causes it to be made;
"transferee" means the person to whom a relevant disposition is made and shall include any successor in title;
"undervalue" in relation to a disposition of property, means —
the provision of no consideration for the disposition;
a consideration for the disposition the value of which in money or money's worth is significantly less than the value of the property the subject of the disposition.

Defined Terms

creditordispositionintent to defraudobligationrelevant dispositiontransferortransfereeundervalue

Cross References