Warning
Info
Warning
Info
Simple English definitions for legal terms
fraudulent act
Read a random definition: flexdollars
A quick definition of fraudulent act:
A fraudulent act is when someone does something dishonest or bad on purpose. This could mean lying, cheating, or stealing from others. It shows that the person lacks good morals and is not trustworthy. Another example of a fraudulent act is when someone tries to hide their property or money from people they owe money to, like their creditors. This is not a good thing to do and can get them into trouble.
A more thorough explanation:
Definition: A fraudulent act is conduct that involves bad faith, dishonesty, a lack of integrity, or moral turpitude.
Examples of fraudulent acts include:
- Transferring property with the intent to defraud others, especially creditors and lienholders.
- Transferring an estate asset by the estate's administrator for little or no consideration.
These examples illustrate how a fraudulent act involves intentionally deceiving others for personal gain. In the case of transferring property or assets, the individual is attempting to hide their assets from creditors or beneficiaries. This behavior is considered dishonest and lacks integrity.