New York SOL

Question 1

Badges of fraud that are so commonly associated with fraudulent transfers that their presence gives rise to an inference of an intent to commit fraud SHIFTS

Answer 1

S- secretly done
H- hastily done
I- inadequate consideration for the asset trans.
F- made to a family member or close friend
T- transferor continues to control the property
S- scientor and inability to pay the claim after the transfer

Question 2

A SOFT RAIN has 3 year statute of limitations:

Answer 2

A- actions that did not exist at common law

S- strict products liability
O- misappropriation of a Corp. or partnership OPPORTUNITY
F- breach of fiduciary duty
T- claim for damages for TRESPASS

R- replevin or conversion
A- annulment of a marriage or fraud
I- tortious interference
N- negligent or professional malpractice

Question 3

SCARF CRIME has a 6 year statute of limitations:

Answer 3

S- specific performance of a contract
C- breach of contract actions seeking money damages except UCC
A- actions recognized at common law for which the leg. has not provided an SOL
R- reformation of a contract
F- fraud, deceit, or negligent misrepresentation

C- corporate derivative actions
R- recission of contract 
I- indemnification and contribution 
M- mortgage foreclosures
E- other equitable claims