GroundRules
O.C.G.A. § 11-1-204: Value.
Where this section sits in the code
- TITLE 11 Commercial Code
- Article 1 General Provisions
- PART 2 General Definitions and Principles of Interpretation
Except as otherwise provided in Articles 3, 4, 5, and 6 of this title, 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.
Collected 2026-09-17T18:56:58Z. Source file · JSON
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