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Statutes Text

Article - Commercial Law




§15–203.

    Fair consideration is given for property or an obligation, if:

        (1)    In exchange for the property or obligation, as a fair equivalent for it and in good faith, property is conveyed or an antecedent debt is satisfied; or

        (2)    The property or obligation is received in good faith to secure a present advance or antecedent debt in an amount not disproportionately small as compared to the value of the property or obligation obtained.



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