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Texas Business and Commerce Code - BUS & COM § 1.204. Value

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Except as otherwise provided in Chapters 3, 4, and 5, a person gives value for rights if the person acquires them:

(1)?in return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn upon and whether or not a charge-back is provided for in the event of difficulties in collection;

(2)?as security for, or in total or partial satisfaction of, a preexisting claim;

(3)?by accepting delivery under a preexisting contract for purchase; ?or

(4)?in return for any consideration sufficient to support a simple contract.

Cite this article: - Texas Business and Commerce Code - BUS & COM § 1.204. Value - last updated April 14, 2021 |

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