{"data":{"id":"us-ar/ark.-code-ann.-4-1-204","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-1-204","heading":"Value.","body":"Except as otherwise provided in Chapters 3, 4, and 5, a person gives value for rights if the person acquires them:\n(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;\n(2) as security for, or in total or partial satisfaction of, a preexisting claim;\n(3) by accepting delivery under a preexisting contract for purchase; or\n(4) in return for any consideration sufficient to support a simple contract.","path":["Title 4 Business and Commercial Law","Subtitle 1. Uniform Commercial Code","Chapter 1 General Provisions","Part 2 — General Definitions and Principles of Interpretation"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T21:07:03Z","sha256":"244acd297ec55c8a34c245c23a527c5993964d8f33371aa8b56282bd9f8a80cd","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-1-203","next":"us-ar/ark.-code-ann.-4-1-205"},"notice":"GroundRules: Original legal text. Not legal advice."}