CANBY, Circuit Judge:
Before 1986, California adhered to a version of the Uniform Fraudulent Conveyance Act. That Act provided in part that a conveyance was not constructively fraudulent if a debtor received a "fair consideration" for the conveyance. See former Cal.Civ.Code § 3439.04 (West 1970). The California Court of Appeal determined that the payment of an antecedent debt that is partially time-barred is "fair consideration." See United States<...
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