The Uniform Fraudulent Transfer Act (UFTA) was recently amended and renamed; it is now called the Uniform Voidable Transactions Act (UVTA). “The renaming has no substantive effect whatever. Yet, it reflects an important truth about the act that merits discussion.”
Terms of Art
Practitioners frequently use terms of art that are specific to their field. For example, journalists categorize certain off-the-record information as “deep background”. A term of art such as “deep background” does not have a clear meaning to a lay person.
The problem with some terms of art is that they can be difficult to define. What exactly does “deep background” mean? An interview published on the American Journalism Review website reveals a divergent set of views on the definition of “deep background” that is perhaps best summarized as: “It means different things to different people. I’ve never understood it.”
Read the article.