ALBERT C. RITCHIE, GOVERNOR. 683

Sec. 3. Fair Consideration.

Sec 4. Conveyances by Insolvent.

Sec. 5. Conveyances by Persons in Business.

Sec 6. Conveyances by Persons about to Incur Debts.

Sec. 7. Conveyances made with Intent to Defraud.

Sec. 8. Conveyances of Partnership Property.

Sec. 9. Rights of Creditors Whose Claims Have Matured.

Sec. 10. Rights of Creditors Whose Claims Have Not

Matured.

Sec. 11. Cases not Provided for in the Act.

Sec. 12. Construction.

Sec. 13. Name of Act.

Sec. 14. Inconsistent. Legislation Repealed.

SECTION 1. (Definition of Terms.) In this Act "Assets"
of a debtor means property not exempt from liability for his
debts. To the extent that any property is liable for any debts
of the debtor, such property shall be included in his assets.

"Conveyance" includes every payment of money, assign-
ment, release, transfer, lease, mortgage or pledge of tangible
or intangible property, and also the creation of any lien or
insumbrance.

"Creditor" is a person having any claim, whether matured
or miniatured, liquidated or unliquidated, absolute, fixed or
contingent.

"Debt" includes any legal liability, whether matured or
unmatured, liquidated or unliquidated, absolute, fixed or
contingent.

SECTION 2. (Insolvency.) (1) A person is insolvent when
the present fair salable value of his assets is less than the
amount that will be required to pay his probable liability on
his existing debts as they become absolute and matured.

(2) In determining whether a partnership is insolvent
there shall be added to the partnership property the present
fair salable value of the separate assets of each general partner
in excess of the amount probably sufficient to meet the claims
of his separate creditors, and also the amount of any unpaid ,
subscription to the partnership of each limited partner, pro-
vided the present fair salable value of the assets of such lim-
ited partner is probably sufficient to pay his debts, including
such unpaid subscription.