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Voidable preference: Difference between revisions
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{{a|glossary| | {{a|glossary| | ||
{{image|Void|jpg|[https://www.artlimited.net/35486/art/image-far-from-void/en/642461 ''Far from Void''], Michael Dunaj}} | |||
}}{{d|Voidable preference|/ˈvɔɪdəbl ˈprɛfərəns/|n|}} | }}{{d|Voidable preference|/ˈvɔɪdəbl ˈprɛfərəns/|n|}} | ||
What happens if you suddenly, | What happens if you suddenly, ''a propos'' nothing, create a [[security interest]] in favour of your buddy, or generally prefer one creditor to others and then go ''[[tetas arriba]]'' within a short period. | ||
Depending on where you are from, the [[insolvency]] laws of your land may set aside any such preference, at the petition of your administrator, if it supposes that in creating, it you acted with base motives: preferring one of your buddies, over your legion of other creditors, when the writing was already on the wall. | Depending on where you are from, the [[insolvency]] laws of your land may set aside any such preference, at the petition of your administrator, if it supposes that in creating, it you acted with base motives: preferring one of your buddies, over your legion of other creditors, when the writing was already on the wall. | ||