Amendment status not verified — confirm the current text below against the official source.
Avoidance of preference in certain cases. (1) Every '{ transfer of property, every payment made, every obligation 33 incurred, and every JUdictal proceedmg taken or suffered by any person unable to pay h1s debts as they become due from h1s own money m favour of any cred1tor, with a view of givmg that cred1tor a preference over the other creditors, shall, 1f such person is adjudged insolvent on a pebtion presented wtthin three months after the date thereof, be deemed fraudulent and void as against the receiver and shall be annulled by the Court. (2) Th1s sect10n shall not affect the rights of any person who m good fatth and for valuable consideration has acquired a title through or under a creditor of the insolvent.