- A preferential transfer made by an insolvent within such period of time prior to insolvency proceedings as to render the transfer voidable under insolvency laws. 29 Am J Rev ed lnsolv § 82. A transfer of property by one since adjudicated a bankrupt which is subject to avoidance so as to permit the trustee in bankruptcy to recover for the estate the assets thus transferred. 9 Am J2d Bankr §§ 1056 et seq. For statement of elements of a voidable prefer- ence under the Bankruptcy Act, see 9 Am J2d Bankr § 1057.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
voidable preference — n: preference Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. voidable preference … Law dictionary
preference — pref·er·ence / pre frəns, fə rəns/ n 1: the right to prior payment of a debt with preference over the creditors of the heirs or legatees Louisiana Civil Code 2: the transfer of an insolvent debtor s interest in property to a creditor for an… … Law dictionary
voidable — void·able / vȯi də bəl/ adj: capable of being voided; specif: subject to being declared void when one party is wronged by the other a voidable contract void·abil·i·ty /ˌvȯi də bi lə tē/ n Merriam Webster’s Dictionary of Law. Merriam Webster.… … Law dictionary
voidable — That which may be avoided, or declared void; not absolutely void, or void in itself. It imports a valid act which may be avoided rather than an invalid act which may be ratified. United States v. Price, D.C.Iowa, 514 F.Supp. 477, 480. See also… … Black's law dictionary
preference — The right of one person over other persons, to be appointed administrator, for example, the right of a surviving spouse. 31 Am J2d Ex & Ad §§ 50 et seq. A right given to a stockholder of a corporation to subscribe at a stated price for shares of… … Ballentine's law dictionary
preference — The paying or securing to one or more of his creditors, by an insolvent debtor, the whole or a part of their claim, to the exclusion or detriment of the rest. The act of an insolvent debtor who, in distributing his property or in assigning it for … Black's law dictionary
voidable assignment — An assignment by a debtor which is fraudulent as to creditors hindered or delayed thereby in reference to realization upon their claims. 6 Am J2d Assign for Crs § 63. See voidable preference … Ballentine's law dictionary
voidable lien — A lien which is subject to disaffirmance by the lienee. A lien given by a bankrupt which may be avoided at the instance of his trustee in bankruptcy. See fraudulent transfer; voidable preference … Ballentine's law dictionary
preference — a payment by a debtor made during a specified period (90 days or one year) prior to the filing that favors one creditor over others. Preference payments can usually be recovered and returned to the debtor s estate (Glossary of Common Bankruptcy… … Glossary of Bankruptcy
Unfair preference — In many legal systems, where a person or company transfers assets or pays a debt to a creditor shortly before going into bankruptcy, that payment or transfer can be set aside on the application of the liquidator or trustee in bankruptcy as an… … Wikipedia