Section 5112 – Supplementary provisions
§ 5112. Supplementary provisions. Unless displaced by the provisions of this chapter, the principles of law and equity, including the law merchant and the law relating to principal and agent, estoppel, laches, fraud, misrepresentation, duress, coercion, mistake, insolvency or other validating or invalidating cause, supplement its provisions. (Dec. 22, 2017, P.L.1249, No.78, eff. 60 days) […]
Section 5113 – Uniformity of application and construction
§ 5113. Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. (Dec. 22, 2017, P.L.1249, No.78, eff. 60 days) 2017 Amendment. Act 78 added section 5113. See section 7 of […]
Section 5114 – Relation to Electronic Signatures in Global and National Commerce Act
§ 5114. Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits or supersedes the Electronic Signatures in Global and National Commerce Act (Public Law 106-229, 15 U.S.C. § 7001 et seq.), but does not modify, limit or supersede section 101(c) of the Electronic Signatures in Global and National Commerce Act […]
Section 5101 – Short title of chapter and definitions
§ 5101. Short title of chapter and definitions. (a) Short title of chapter.–This chapter, that was formerly cited as the Pennsylvania Uniform Fraudulent Transfer Act, shall be known and may be cited as the Pennsylvania Uniform Voidable Transactions Act. (b) Definitions.–The following words and phrases when used in this chapter shall have the meanings given […]
Section 5102 – Insolvency
§ 5102. Insolvency. (a) General rule.–A debtor is insolvent if, at fair valuation, the sum of the debtor’s debts is greater than the sum of the debtor’s assets. (b) Presumption of insolvency.–A debtor that is generally not paying the debtor’s debts as they become due other than as a result of a bona fide dispute […]
Section 5103 – Value
§ 5103. Value. (a) General rule.–Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor’s business to furnish support […]
Section 5104 – Transfer or obligation voidable as to present or future creditor
§ 5104. Transfer or obligation voidable as to present or future creditor. (a) General rule.–A transfer made or obligation incurred by a debtor is voidable as to a creditor, whether the creditor’s claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the […]
Section 5105 – Transfer or obligation voidable as to present creditor
§ 5105. Transfer or obligation voidable as to present creditor. (a) General rule.–A transfer made or obligation incurred by a debtor is voidable as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent […]
Section 5106 – When transfer is made or obligation is incurred
§ 5106. When transfer is made or obligation is incurred. For the purposes of this chapter: (1) A transfer is made: (i) with respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the […]
Section 5107 – Remedies of creditor
§ 5107. Remedies of creditor. (a) Available remedies.–In an action for relief against a transfer or obligation under this chapter, a creditor, subject to the limitations in sections 5108 (relating to defenses, liability and protection of transferee or obligee) and 5109 (relating to extinguishment of claim for relief), may obtain: (1) Avoidance of the transfer […]