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Thus, if a transfer is made with the specific intent to avoid satisfying a specific liability, then actual intent is present. However, when a debtor prefers to pay one creditor instead of another, that is not a fraudulent transfer. [citation needed] There are two types of fraudulent transfer—actual fraud and constructive fraud.
Making false statements (18 U.S.C. § 1001) is the common name for the United States federal process crime laid out in Section 1001 of Title 18 of the United States Code, which generally prohibits knowingly and willfully making false or fraudulent statements, or concealing information, in "any matter within the jurisdiction" of the federal government of the United States, [1] even by merely ...
Conceptually, fraudulent trading is similar to a fraudulent conveyance, [2] but the key distinction is that an application to have a transaction set aside as a fraudulent conveyance usually requires to the third party beneficiary to disgorge the benefit of the conveyance to undo the loss to the company's assets, whereas a court order in ...
Fraudulent misrepresentation is defined in the 3-part test in Donohoe v Donohoe , where the defendant Donohoe was categorically declared completely fraudulent as he: (i) knows the statement to be false, [67] or (ii) does not believe in the statement, [68] [38] or (iii) is reckless as to its truth.
Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information.
For example, the North Carolina false pretense statute applies to obtaining "any money, goods, property, services, choses in action, or any other thing of value ..." [ 2 ] Under common law, false pretense is defined as a representation of a present or past fact, which the thief knows to be false, and which he intends will and does cause the ...
The Fraud Enforcement and Recovery Act of 2009, or FERA, Pub. L. 111–21 (text), S. 386, 123 Stat. 1617, enacted May 20, 2009, is a public law in the United States enacted in 2009. The law enhanced criminal enforcement of federal fraud laws, especially regarding financial institutions, mortgage fraud, and securities fraud or commodities fraud.
The leading case in English law is Derry v.Peek, [2] which was decided before the development of the law on negligent misstatement. In Hedley Byrne & Co Ltd v.Heller & Partners Ltd it was decided that people who make statements which they ought to have known were untrue because they were negligent, can in some circumstances, to restricted groups of claimants be liable to make compensation for ...