Section 302 – Transfer — When made.
Effective 5/9/2017 25-6-302. Transfer — When made. In this chapter: (1) a transfer is made: (a) 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 transfer is so far perfected that […]
Section 303 – Remedies of creditors.
Effective 5/9/2017 25-6-303. Remedies of creditors. (1) In an action for relief against a transfer or obligation under this chapter, a creditor, subject to the limitations in Section 25-6-304, may obtain: (a) avoidance of the transfer or obligation to the extent necessary to satisfy the creditor’s claim; (b) an attachment or other provisional remedy against […]
Section 304 – Good faith transfer.
Effective 5/9/2017 25-6-304. Good faith transfer. (1) Except as otherwise provided in this section, a transfer or obligation is not voidable under Subsection 25-6-202(1)(a) against a person that took in good faith and for a reasonably equivalent value given the debtor or against any subsequent transferee or obligee. (2) Except as otherwise provided in this […]
Section 305 – Claim for relief — Time limits.
Effective 5/9/2017 25-6-305. Claim for relief — Time limits. A claim for relief regarding a transfer or obligation under this chapter is extinguished unless action is brought: (1) under Subsection 25-6-202(1)(a), no later than four years after the transfer was made or the obligation was incurred or, if later, no later than one year after […]
Section 6 – Promise to answer for obligation of another — When not required to be in writing.
25-5-6. Promise to answer for obligation of another — When not required to be in writing. A promise to answer for the obligation of another in any of the following cases is deemed an original obligation of the promisor and need not be in writing: (1) Where the promise is made by one who has […]
Section 7 – Contracts by telegraph deemed written.
25-5-7. Contracts by telegraph deemed written. Contracts made by telegraph shall be deemed to be contracts in writing, and all communications sent by telegraph and signed by the person sending the same, or by his authority, shall be deemed to be communications in writing. No Change Since 1953
Section 8 – Right to specific performance not affected.
25-5-8. Right to specific performance not affected. Nothing in this chapter contained shall be construed to abridge the powers of courts to compel the specific performance of agreements in case of part performance thereof. No Change Since 1953
Section 9 – Agent may sign for principal.
25-5-9. Agent may sign for principal. Every instrument required by the provisions of this chapter to be subscribed by any party may be subscribed by the lawful agent of such party. No Change Since 1953
Section 103 – Insolvency.
Effective 5/9/2017 25-6-103. Insolvency. (1) A debtor is insolvent if, at fair valuation, the sum of the debtor’s debts is greater than all of the debtor’s assets. (2) (a) 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 is presumed […]
Section 3 – Leases and contracts for interest in lands.
25-5-3. Leases and contracts for interest in lands. Every contract for the leasing for a longer period than one year, or for the sale, of any lands, or any interest in lands, shall be void unless the contract, or some note or memorandum thereof, is in writing subscribed by the party by whom the lease […]