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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: FindLaw.com - Texas Business and Commerce Code - BUS & COM § 1.204. Value - last updated April 14, 2021 | https://codes.findlaw.com/tx/business-and-commerce-code/bus-com-sect-1-204/
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