- A transfer of property made by an insolvent debtor to one creditor to the exclusion of others. 29 Am J Rev ed Insolv § 82. An act of bankruptcy; a transfer of any of the property of a creditor for or on account of an antecedent debt, made or suffered by such debtor while insolvent and within four months before the filing by or against him of a petition initiating a proceeding under the Act, the effect of which transfer will be to enable such creditor to obtain a greater percentage of his debt than some other creditor of the same class. Bankruptcy Act § 60(a)(1); 11 USC § 96(a)(1); 9 Am J2d Bankr § 146. See voidable preference.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
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