Is a transaction entered into by a person in insolvent circumstances impeachable?
Saskatchewan, Canada
The following excerpt is from Merchants Bank of Canada v. Ken McClary & Company, 1921 CanLII 140 (SK QB):
In Johnson v. Hope, 17 O.A.R. 10 this question was fully discussed and it was decided that a transaction entered into by a person in insolvent circumstances is not impeachable unless the person claiming the benefit of the transaction had notice or knowledge of the insolvency and did not act in good faith.
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