https://www.taxtmi.com/caselaws?id=170993 In insolvency proceedings to avoid a transfer, the receiver bears the burden of proving absence of good faith or lack of valuable consideration, rather than the transferee. Prior adjudication of insolvency does not create res judicata on distinct questions of the transferee's good faith or consideration, because those matters are determined only in the annulment proceedings. Good faith is assessed by honesty in the transaction, not by a rigid due-care-and-attention test. On the evidence described, the mortgage was supported by consideration and made in good faith, so it remained binding on the insolvent estate. en-us Fri, 24 May 1957 00:00:00 +0530 Tue, 07 Jul 2015 11:52:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170993 In insolvency proceedings to avoid a transfer, the receiver bears the burden of proving absence of good faith or lack of valuable consideration, rather than the transferee. Prior adjudication of insolvency does not create res judicata on distinct questions of the transferee's good faith or consideration, because those matters are determined only in the annulment proceedings. Good faith is assessed by honesty in the transaction, not by a rigid due-care-and-attention test. On the evidence described, the mortgage was supported by consideration and made in good faith, so it remained binding on the insolvent estate. Case-Laws Indian Laws Fri, 24 May 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170993