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due process The conduct of legal proceedings according to established rules and principles for the protection and enforcement of private rights, including notice and the right to a fair hearing before a tribunal with the power to decide the case. Also termed due process of law; due course of law. See FUNDAMENTALFAIRNESS DOCTRINE. "The words 'due process' have a precise technical import, and are only applicable to the process and proceedings of the courts of justice; they can never be referred to an act of legislature." Alexander Hamilton, Remarks on an Act for Regulating Elections, New York Assembly, 6 Feb. 1787, in 4 Papers of Alexander Hamilton 34. 35 (Harold C. Syrett ed., 1962). 'The words, 'due process of law,' were undoubtedly intended to convey the same meaning as the words, 'by the law of the land: in Magna Charta." Murray's Lessee v. Hoboken Land & Improvement Co., 59 U.S. (18 How.) 272, 276 (1856) (Curtis, J.). "Due process of law in each particular case means, such an exertion of the powers of government as the settled maxims of law sanction, and under such safeguards for the protection of individual rights as those maxims prescribe for the class of cases to which the one in question belongs." Thomas M. Cooley, A Treatise on the Constitutional Limita· tions 356 (1868). "An elementary and fundamental requirement of due process in any proceeding which is to be accorded finality is notice reasonably calculated, under all the circum· stances, to apprise interested parties of the pendency of the action and afford them an opportunity to present their objections .... The notice must be of such nature as reasonably to convey the required information." Mullane V. Central Hanover Bank & Trust Co., 339 U.s. 306, 314, 70 S.Ct. 652, 657 (1950) (Jackson,J.).

due process clause The constitutional provision that prohibits the government from unfairly or arbitrarily depriving a person of life, liberty, or property. There are two Due Process Clauses in the U.S. Constitution, one in the 5th Amendment applying to the federal government, and one in the 14th Amendment applying to the states (although the 5th Amendment's Due Process Clause also applies to the states under the incorporation doctrine). Cf. EQUAL PROTECTION CLAUSE.

due process of law See DUE PROCESS.

due proof Sufficient and properly submitted evidence to produce a result or support a conclusion, such as an entitlement to benefits supported by an insurance policy. The evidence need not be the best proof possible. Metropolitan Life Ins. Co. v. Frisch, 65 N.E. 2d 852,855 (Ind. App. 1946).

due-bill See IOU.

due-course holder See HOLDER IN DUE COURSE.

due-diligence information Securities.lnformation that a broker-dealer is required to have on file and make available to potential customers before submitting quotations for over-the-counter securities. The informational requirements are set out in SEC Rule 15c2-11 (17 CFR § 240.15c2-11).

duel 1. TRIAL BY COMBAT. 2. A Single combat; specif., a prearranged combat with deadly weapons fought between two or more persons under prescribed rules, uSU. in the presence of at least two witnesses, to resolve a previous quarrel or avenge a deed. In England and the United States, death resulting from a duel is treated as murder, and seconds may be liable as accessories. - Also termed monomachy; single combat. Cf. MUTUAL COMBAT. "[A] duel which did not end in death was only a misdemeanour, till the passing of Lord Ellenborough's Act, 43 Geo. 3, C. 58, passed in 1803 .... A duel which did end fatally might be either murder or manslaughter, according to the following distinctions: If the duel was on a sudden falling out, if the parties fought in hot blood and on the spot and one was killed, the offence was only manslaugh· ter, however aggravated the case might be.... If a fatal duel took place when the parties were in cool blood, it was held to be murder, and of this there has never been any doubt whatever in this country, though juries not unfre quently acquitted in such cases if they sympathized with the prisoner." 3 James Fitzjames Stephen, A History of the Criminal Law of England 100 (1883). "Dueling is distinguished from other offenses in that it has none of the elements of sudden heat and passion, and is usually carried out with some formality. A duel has been distinguished from an 'affray' in that an affray occurs on a sudden quarrel while a duel is always the result of design." 28A c.J.S. Dueling § 2, at 154 (1996).

dueling The common-law offense of fighting at an appointed time and place after an earlier disagreement. If one of the participants is killed, the other is guilty of murder, and all who are present, abetting the crime, are guilty as principals in the second degree. "Dueling is prearranged fighting with deadly weapons, usually under certain agreed or prescribed rules .... It is a misdemeanor at common law to fight a duel, even though no death result, to challenge another to a duel, intention· ally to provoke such a challenge, or knowingly to be the bearer of such a challenge." Rollin M. Perkins & Ronald N. Boyce, Criminal Law 243 (3d ed. 1982).

duellum (q[y]oo-el-am), n. [fr. Latin duo "two"] Hist. See TRIAL BY COMBAT.

due-on-encumbrance clause A mortgage provision giving the lender the option to accelerate the debt if the borrower further mortgages the real estate without the lender's consent. All state laws on the enforcement of due-ori-sale clauses have been preempted, and the subject is now governed exclusively by the Garn Act. 12 USCA § 170Ij-3.

due-on-sale clause A mortgage provision that gives the lender the option to accelerate the debt if the borrower transfers or conveys any part of the mortgaged real estate without the lender's consent.

due-process rights The rights (as to life, liberty, and property) so fundamentally important as to require compliance with due-process standards offairness and justice. See DUE PROCESS; DUE PROCESS CLAUSE; FUNDAMENTAL-FAIRNESS DOCTRINE.

duhig rule Oil & gas. A rule of title interpretation developed to deal with the common problem of overconveyance of fractional interests by giving priority to the granted interest over the reserved interest. Duhig v. Peavy Moore Lumber Co., Inc., 144 S.W.2d 878 (Tex. 1940). The rule is not accepted in all states and is generally limited to conveyances by warranty deed.

DUI abbr. DRIVING UNDER THE INFLUENCE.

duke 1. A sovereign prince; a ruler of a duchy. 2. The first order of nobility in Great Britain below the royal family. :But after the Norman conquest, which changed the military policy of the nation, the kings themselves continuing for many generations dukes of Normandy, they would not any subjects with that title, till the time of Edward III; who, claiming to be the king of France, and thereby losing the ducal in the royal dignity, in the eleventh year of his reign created his son, Edward the black prince, duke of Cornwall: and many, of the royal family espeCially, were afterwards raised to the honour. However, in the reign of queen Elizabeth, A.D. 1572, the whole order became utterly extinct: but it was revived about fifty years afterwards by her successor, who was remarkably prodigal of honours, in the person of George Villiers duke of Buckingham." 1 William Blackstone, Commentaries on the Laws of England 385 (1765).

duke of exeter's daughter A torture rack in the Tower of London, named after the Duke of Exeter, Henry VI's minister who assisted in introducing it to England. Also termed brake. "The rack ... to extort a confession from criminals, is a practice of a different nature .... And the trial by rack is utterly unknown to the law of England; though once when the dukes of Exeter and Suffolk. , , had laid a design to introduce the civil law into this kingdom as the rule of government, for a beginning thereof they erected a rack for torture; which was called in derision the duke of Exeter's daughter, and still remains in the tower of london: where it was occasionally used as an engine of state, not of law, more than once in the reign of queen Elizabeth." 4 William Blackstone, Commentaries on the Laws of England 320-21 (1769).

duke of york's laws A body of laws compiled in 1665 by Governor Nicholls for the more orderly government of the New York colony. The laws were gradually extended to the entire province.

DUlL abbr. Driving under the influence of liquor. See DRIVING UNDER THE INFLUENCE.

dulocracy (d[y]oo-lok-ra-see), n. [fr. Greek doulos "servant" + kratein "to rule"], A government in which servants or slaves have so many privileges that they essentially rule.- Also spelled doulocracy.

duly adv. In a proper manner; in accordance with legal requirements.

dum (dam). [Latin], While; provided that.

dum fervet opus (dam far-vet oh-pas). [Latin], While the action is fresh; in the heat of action. This term usu. referred to matters of testimony.

dum fuit in prisona (dam fyoo-it in priz-a-na), n. [Law Latin "while he was in prison"]. A writ restoring a man to his estate after he transferred the estate under duress of imprisonment. See DURESS OF IMPRISONMENT.

dum fuit infra aetatem (dam fyoo-it in-fra ee-tay-tam), n. [Law Latin "while he was within age"], A writ allowing a person of full age to recover lands feoffed while the person was an infant. The remedy was also available to the person's heirs. It was later replaced by the action of ejectment. See EJECTMENT.

dum non fuit compos mentis (dam non fyoo-it kom-pas men-tis), n. [l.aw Latin "while he was of unsound mind"]. A writ allowing heirs to recover an estate transferred by someone of unsound mind.

dum se bene gesserit (dam see bee-nee jes-dr-it). [Latin "while he behaves himself properly"]. During good conduct. Cf. QUAMDIU BENE SE GESSERINT.

dum sola (dam soh-Ia). [Latin], While Single. This phrase was used to limit conveyances, esp. to women, as in dum sola fuerit ("while she remains single"), dum sola et casta vixerit ("while she remains single and chaste"), and dum sola et casta ("while she is unmarried and lives chastely").

dumb bidding An auction bidding process in which the minimum acceptance price is placed under the object for sale-- unbeknownst to the bidders - and no bids are accepted until they meet that price. Dumb bidding was initially intended to avoid the taxes imposed on auction sales by the statute of 1779, 19 Geo. 3, ch. 56, §§ 5-6, but the courts determined that the practice was fraudulent.

dummodo (dam-a-doh). [Latin], So that; provided that. This term was used as a limitation in conveyances, as in dummodo so/verit talem redditum (dam-a-doh sol-va-rit tay-Iem red-i-tam), meaning "provided he shall pay such a rent."

dummodo constet de persona (dam-a-doh kon-stet dee par-soh-na). [Latin]. Provided it be evident who is the person meant. See CONSTAT DE PERSONA.

dummodo vassalli conditio non sit deterior (dam-a-doh vas-a-li kan-dish-ee-oh non sit di-teer-ee-or). [Law Latin]. Provided the vassal's condition be not made worse. The phrase was used as a limitation in a conveyance. See DUMMODO.

dummy adj. Sham; make-believe; pretend <dummy corporation>.

dummy- 1. A party who has no interest in a transaction, but participates to help achieve a legal goal. 2. A party who purchases property and holds legal title for another. Cf. STRAW MAN (3).

dummy corporation A corporation whose only function is to hide the principal's identity and to protect the principal from liability.

dummy corporation- See CORPORATION.

dummy director A board member who is a mere figurehead and exercises no real control over the corporation's business. Also termed accommodation director; nominal director.

dummy director- See DIRECTOR.

dummy shareholder See SHAREHOLDER.

dummy shareholder A shareholder who owns stock in name only for the benefit of the true owner, whose identity is usu. concealed.

dump 1. To drop (something) down, esp. in a heap; to unload. 2. To sell (products) at an extremely low price; specif., to sell (products) in a foreign market at a lower price than at home.

dumping 1. The act of selling a large quantity of goods at less than fair value. 2. Selling goods abroad at less than the market price at horne. See ANTIDUMPING LAW. "Dumping involves selling abroad at a price that is less than the price used to sell the same goods at home (the 'normal' or 'fair' value). To be unlawful, dumping must threaten or cause material injury to an industry in the export market, the market where prices are lower. Dumping is recognized by most of the trading world as an unfair practice (akin to price discrimination as an antitrust offense)." Ralph H, Folsom & Michael W. Gordon, International BUSiness Transactions § 6.1 (1995). 3. The disposal of waste matter into the environment.

dumping act A federal antidumping law requiring the Secretary of the Treasury to notify the U.S. International Trade Commission (USITC) whenever the Secretary determines that goods are likely to be sold abroad at less than their fair value, so that the USITC can take appropriate action. 19 USCA § 1673.

dump-truck lawyer A public defender who spends little time or effort and exhibits little skill mounting a defense on behalf of an indigent defendant. This derogatory term arises from criminal defendants' common perception (typically a misperception) that public defenders prefer to dump cases by making plea bargains rather than spend time preparing for trial. People v .. Clark, 833 P.2d 561, 590 (Cal. 1992); People v. Huffman, 139 Cal. Rptr. 264, 267 n.2 (Cal. App. 1977).

dun (dan), To demand payment from (a delinquent debtor) <his creditors are dunning him daily>. dun, n.

dunaway hearing Criminal law. A pretrial hearing to determine whether evidence was obtained in violation of Fourth Amendment protections against unreasonable search and seizure. The name derives from Dunaway v. New York, 442 U.S. 200,99 S.Ct. 2249 (1979).

dungeon 1. The bottom part of a fortress or tower, often used as a prison. Also termed dungeon-keep. 2. A dark underground prison.

duodecemvirale judicium (d[y]oo-oh-des-am-va-ray-lee joo-dish-ee-am). [Latin] A trial by 12 persons; a trial by jury.

duodecima manus (d[y]oo-oh-des-a-ma man-as). [Latin], Twelve men. "The manner of waging and making law is this. He that has waged, or given security, to make his law, brings with him into court eleven of his neighbours: ... for by the old Saxon constitution every man's credit in courts of law depended upon the opinion which his neighbours had of his veracity, The defendant then, standing at the end of the bar, is admonished by the judges of the nature and danger of a false oath .. , . And thereupon his eleven neighbours or compurgators shall avow upon their oaths that they in their consciences that he saith the truth .... It is held indeed by later authorities, .. that fewer than eleven compurgators will do: but Sir Edward Coke is positive that there must be this number ... for as wager of law is equiva· lent to a verdict in the defendant's favor, it ought to be established by the same or equal testimony, namely, by the oath of twelve men. And so indeed Glanvil expresses it, ... ,'jurabit duodecima manu' ... ."' 3 William Blackstone, Commentaries on the Laws of England 343 (1768).

duodena (d[y]oo-a-dee-na). [Latin], 1. A jury of twelve. 2. A dozen of anything.

duopoly (d[y]oo-op-a-Iee). A market in which there are only two sellers of a product,

duopsony (d[y]oo-op-sa-nee). A market in which there are only two buyers of a product.

duoviri (d[y]oo-oh-va-n or d[y]oo-oh vi-ri). See DUUMVIRI.

duplex querela (q[y]oo-pleks kwa-ree-la). 1. Hist. Eccles. law. An appeal by a clerk to the archbishop in response to the bishop's delaying or wrongfully refusing to do justice. 2. Eccles. law. An appeal to a person's immediate superior, as when a bishop appeals to an archbishop. Also termed double quarrel; double complaint.

duplex valor maritagii (d[y]oo-pleks val-ar mar-a-tay-jee-i), n. [Law Latin "double the value of a marriage"]. A ward's forfeiture of double the value of a marriage made without the guardian's consent. In the quotation that follows, Blackstone uses the accusative form (duplicem valorem maritagii) because the phrase follows the verb forfeited. "For, while the infant was in ward, the guardian had the power of tendering him or her a suitable match, without disparagement, or inequality: which if the infants refused, they forfeited the value of the marriage. , . to their guardian; that is, 50 much as ajury would assess, or anyone would bona fide give to the guardian for such an alliance: ... and, if the infants married themselves without the guardian's consent, they forfeited double the value, duplicem valorem maritagii. This seems to have been one of the greatest hardships of our ancient tenures."' 2 William Blackstone, Commentaries on the Laws of England 70 (1766).

duplicate (d[y]oo-pli-kit), n. 1. A reproduction of an original document having the same particulars and effect as the original. See Fed. R. Evid. 101(4).2. A new original, made to replace an instrument that has been lost or destroyed. Also termed (in sense 2) duplicate original. duplicate (d[y]oo-pli-kit), adj. "A 'duplicate' is defined for purposes of the best evidence rule as a counterpart produced by the same impression as the original, or from the same matrix, or by means of photography including enlargements and miniatures, by mechanical or electronic recording, by chemical reproduc· tion, or by other equivalent techniques which accurately reproduce the original; copies subsequently produced manually, either handwritten or typed, are not within this definition." 29A Am. Jur. 2d Evidence § 1085 (1994).

duplicate- (d[y]oo-pli-kayt), vb. 1. To copy exactly <he duplicated the original document>. 2. To double; to repeat <she duplicated the performance>.

duplicate taxation See double taxation under TAXATION.

duplicate taxation See double taxation.

duplicate will See WILL.

duplicate-claiming rejection The nonart rejection of a patent claim because it is not substantially different from another claim.

duplicate-claiming rejection See REJECTION.

duplicatio (d[y]oo-pli-kay-shee-oh), n. [fr. Latin duplicare "to double"], 1. Roman & civil law. A defendant's answer to the plaintiffs replication, similar to a rejoinder in common law. - Also termed (in Scots law) duply. See REPLICATION. 2. The fourth in a series. 3. A duplication of a transaction.

duplicative (doo-plik-a-tiv also doo-pli-kay-tiv), adj. 1. Having or characterized by having overlapping content, intentions, or effect <duplicative sources> <duplicative evidence> <duplicative regulations>. 2. Duplicate; having or characterized by having identical content <duplicative database> <duplicative backup>.

duplicatum jus (d[y]oo-pli-kay-tam jas), n. (Law Latin "double right"], A double right, such as droit droit (both the "right of possession and right of property").

duplicitous (d[y]oo-plis-i-tas), adj. 1. (Of a person) deceitful; double-dealing. 2. (Of a pleading, esp. an indictment) alleging two or more matters in one plea; characterized by double pleading.

duplicitous appeal An appeal from two separate judgments, from a judgment and an order, or from two orders.

duplicitous appeal- See APPEAL.

duplicitous indictment See INDICTMENT.

duplicitous indictment- (d[y]oo-plis-a-tas). 1. An indictment containing two or more offenses in the same count. 2. An indictment charging the same offense in more than one count.

duplicitous information See INFORMATION.

duplicitous information- An information that charges two or more offenses as one count.

duplicity (d[y]oo-plis-i-tee), n. 1. Deceitfulness; double-dealing. 2. The charging of the same offense in more than one count of an indictment. 3.The pleading of two or more distinct grounds of complaint or defense for the same issue. In criminal procedure, this takes the form of joining two or more offenses in the same count of an indictment. Also termed double pleading. Cf. alternative pleading under PLEADING (2); double plea under PLEA (3).

duplum (d[y]oo-plam). [Latin] Roman & civil law. Double the price of something; esp., a measure of damages equal to double a thing's value. This measure was used for certain delicts. Cf. SIMPLUM.

duply See DUPLICATIO (1).

durable goods See GOODS.

durable goods- Consumer goods that are designed to be used repeatedly over a long period, such as automobiles or refrigerators. - Also termed durables; hard goods.

durable lease See LEASE.

durable power of attorney A power of attorney that remains in effect during the grantor s incompetency. Such instruments commonly allow an agent to make healthcare decisions for a patient who has become incompetent.

durable power of attorney See POWER OF ATTORNEY.

durables See durable goods under GOODS.

durante (d[y]a-ran-tee). [Law Latin] While; during, as in durante minore aetate (" durin minority"), durante viduitate ("during widowho, durante virginitate ("during virginity"), and durante vita ("during life"). The term was often used in conveyancing.

durante absentia (d(y]a-ran-tee ab-sen-shee-a). [Law Latin] During absence. This term referred to the administration of an estate while the executor was out of the county or otherwise absent. During the executor's absence, the administration sometimes continued because a delay until the executor's return would impair the estate settlement.

durante bene placito (d[y]a-ran-tee bee-nee plas-a-toh). [Law Latin], During good pleasure. This phrase was used in the royal writ granting tenure durante bene placito to the king' judges.

durante furore (d[y]a-ran-tee fyuu-ror-ee). [Law Latin]. While the insanity endures. The phrase appeared in reference to the rule prohibiting the state from prosecuting an insane person. Ihe state could, however, prosecute the person once the insanity ended.

duration 1. The length of time something lasts <the duration of the lawsuit>.

duration directive See DIRECTIVE HARMONIZING THE TERM OF COPYRIGHT AND CERTAIN RELATED RIGHTS.

duration of interest The length of time a property interest lasts.

duration of trust The length of time a trust exists. 2. A length of time; a continuance in time <an hour's duration>.

durational-residency requirement The requirement that one be a state resident for a certain time, such as one year, as a precondition to the exercise of a spedfied right or privilege. When applied to voting, this requirement has been held to be an unconstitutional denial of equal protection because it burdens voting rights and impairs the fundamental personal right of travel.

duren test Constitutional law. A test to determine whether a jury's composition violates the fair-crosssection requirement and a criminal defendant's Sixth Amendment right to an impartial jury. Under the test, a constitutional violation occurs if (1) a distinctive group is not fairly and reasonably represented in the jury pool in relation to its population in the community, (2) the underrepresentation is the result of a systematic exclusion of the group from the jury-selection process, and (3) the government cannot reasonably justify the discrepancy. Duren v. Missouri, 439 U.S. 357, 99 S.O. 664 (1979). See FAIR-CROSS-SECTION REQUIREMENT; STATISTICAL-DECISION THEORY; ABSOLUTE DISPARITY; COMPARATIVE DISPARITY.

duress (d[y]uu-res). 1. Strictly, the physical confinement of a person or the detention of a contracting party's property. In the field of torts, duress is considered a species of fraud in which compulSion takes the place of deceit in causing injury. "Duress consists in actual or threatened violence or imprisonment; the subject of it must be the contracting party himself, or his wife, parent, or child; and it must be inflicted or threatened by the other party to the contract, or else by one acting with his knowledge and for his advantage." William R. Anson, Principles of the Law ofContract 261-62 (Arthur l. Corbin ed., 3d Am. ed. 1919). "Few areas of the law of contracts have undergone such radical changes in the nineteenth and twentieth centuries as has the law governing duress. In Blackstone's time relief from an agreement on grounds of duress was a possibility only if it was coerced by actual (not threatened) imprisonment or fear of loss of life or limb. 'A fear of battery ... is no duress; neither is the fear of having one's house burned, or one's goods taken away or destroyed': he wrote, 'because in these cases, should the threat be performed, a man may have satisfaction by recovering equivalent damages: but no suitable atonement can be made for the loss of life, or limb: Today the general rule is that any wrongful act or threat which overcomes the free will of a party constitutes duress. This simple statement of the law conceals a number of questions, particularly as to the meaning of 'free will' and 'wrongful.'" John D. Calamari &Joseph M. Perillo, The Law of Contracts § 9-2, at 337 (3d ed. 1987). 2. Broadly, a threat of harm made to compel a person to do something against his or her will or judgment; esp., a wrongful threat made by one person to compel a manifestation of seeming assent by another person to a transaction without real volition.

duress of the person Compulsion of a person by imprisonment, by threat, or by a show of force that cannot be resisted.

duress of circumstances See NECESSITY (1).

duress of goods 1. The act of seizing personal property by force, or withholding it from an entitled party, and then extorting something as the condition for its release. 2. Demanding and taking personal property under color oflegal authority that either is void or for some other reason does not justify the demand.

duress of imprisonment The wrongful confining of a person to force the person to do something.

duress per minas (par mi-nas). [Law Latin) Duress by threat ofloss of life, loss of limb, mayhem, or other harm to a person. "Duress per minas is either for fear of loss of life, or else for fear of mayhem, or loss of limb. And this fear must be upon sufficient reason .... A fear of battery, or being beaten, though never so well grounded, is no duress; neither is the fear of having one's house burned, or one's goods taken away and destroyed; because in these cases, should the threat be performed, a man may have satisfaction by recovering equivalent damages: but no suitable atonement can be made for the loss of life, or limb." 1 William Blackstone, Commentaries on the Laws of England 127 (1765). Dutch-auction tender method "Duress per minas is a very rare defence; so rare that Sir James Stephen, in his long forensic experience, never saw a case in which it was raised. It has, however, been thought that threats of the immediate infliction of death, or even of grievous bodily harm, will excuse some crimes that have been committed under the influence of such threats." J.w. Cecil Turner, Kenny's Outlines of Criminal Law 58 (16th ed. 1952).

durham (dar-am). One of the three remaining county palatines in England, the others being Chester and Lancaster. Its jurisdiction was vested in the Bishop of Durham until the statute 6 & 7 WilL 4, ch. 19 vested it as a separate franchise and royalty in the Crown. The jurisdiction of the Durham Court of Pleas was transferred to the Supreme Court of Judicature by the Judicature Act of 1873, but Durham continued to maintain a Chancery Court according to the Palatine Court of Durham Act of 1889. See COUNTY PALATINE.

durham rule Criminal law. A test for the insanity defense, holding that a defendant is not criminally responsible for an act that was the product of mental disease or defect (Durham v. United States, 214 P.2d 862 (D.C. Cir. 1954"). Formerly used in New Hampshire and the District of Columbia, the Durham rule has been criticized as being too broad and is no longer accepted in any American jurisdiction. Also termed product test. See INSANITY DEFENSE.

durrett rule Bankruptcy. The principle that a transfer of property in exchange for less than 70% of the property's value should be invalidated as a preferential transfer. Durrett v. Washington Nat'l Ins. Co., 621 F.2d 201 (5th Cir. 1980); 11 USCA § 548. This rule has been applied most frequently to foreclosure sales. But it has essen· tially been overruled by the U.S. Supreme Court, which has held that, at least for mortgage foreclosure sales, the price received at a regularly conducted, noncollusive sale represents a reasonably equivalent value of the property, and the transfer is presumed valid. BFP v. Resolution Trust Corp., 511 U.S. 531, 114 S.Ct. 1757 (1994).