Tex. Business & Commerce Code § 1.204
VALUE
Texas · Texas Business & Commerce Code · Status: effective
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- Citation
- Tex. Business & Commerce Code § 1.204, VALUE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/629720
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Full text
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.