Section 15-203 - Fair consideration. - Maryland Statutes

§ 15-203. Fair consideration.
 

Fair consideration is given for property or an obligation, if: 

(1) In exchange for the property or obligation, as a fair equivalent for it and in good faith, property is conveyed or an antecedent debt is satisfied; or 

(2) The property or obligation is received in good faith to secure a present advance or antecedent debt in an amount not disproportionately small as compared to the value of the property or obligation obtained. 
 

[An. Code 1957, art. 39B, § 3; 1975, ch. 49, § 3.]