fair consideration

fair consideration
A fair equivalent. One which, under all the circumstances, is honest, reasonable, and free from suspicion. Full and adequate consideration. Good-faith satisfaction of an antecedent debt. One which fairly represents the value of the property transferred. One which is not disproportionate to the value of the property conveyed. A term of fraudulent conveyance law describing whatever is given in exchange for a conveyance of debtor's property whenever the exchange involves property or other things having substantially equivalent values.

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • fair consideration — see consideration Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • fair consideration — An adequate, just, or proper consideration; something more than a nominal consideration. Rude v Levy, 43 Colo 482, 96 P 560. A consideration fairly proportioned to the money, property, or services furnished by the contracting party. Manello v… …   Ballentine's law dictionary

  • fair consideration — A fair equivalent. One which, under all the circumstances, is honest, reasonable, and free from suspicion. Full and adequate consideration. Good faith satisfaction of an antecedent debt. One which fairly represents the value of the property… …   Black's law dictionary

  • fair consideration — appropriate recompense, fair reward or compensation …   English contemporary dictionary

  • consideration — con·sid·er·a·tion n: something (as an act or forbearance or the promise thereof) done or given by one party for the act or promise of another see also contract compare motive ◇ Except in Louisiana, consideration is a necessary element to the… …   Law dictionary

  • fair — adj 1: characterized by honesty and justice: free from self interest, deception, injustice, or favoritism a fair and impartial tribunal 2: reasonable as a basis for exchange a fair wage a fair valuation 3: consistent with merit or importance …   Law dictionary

  • fair and impartial jury — n. A jury composed of people who have no preconceptions about a case and who will form opinions based on a fair consideration of evidence and testimony. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney… …   Law dictionary

  • consideration — The inducement to a contract. The cause, motive, price, or impelling influence which induces a contracting party to enter into a contract. The reason or material cause of a contract. Some right, interest, profit or benefit accruing to one party,… …   Black's law dictionary

  • consideration — The inducement to a contract. The cause, motive, price, or impelling influence which induces a contracting party to enter into a contract. The reason or material cause of a contract. Some right, interest, profit or benefit accruing to one party,… …   Black's law dictionary

  • fair and valuable consideration — One which is a substantial compensation for the property conveyed, or which is reasonable, in view of the surrounding circumstances and conditions and market value of comparable properties in same vicinity, in contradistinction to an inadequate… …   Black's law dictionary

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