State Codes and Statutes
Statutes > Maryland > Commercial-law > Title-15 > Subtitle-2 > 15-203§ 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.]
