{"data":{"id":"us-ca/com-1204","jurisdiction":"us-ca","citation":"COM § 1204","heading":"","body":"Except as otherwise provided in Divisions 3, 4, 5, 6, and 12, 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 chargeback 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":["Commercial Code - COM","DIVISION 1. GENERAL PROVISIONS [1101. - 1310.]","CHAPTER 2. General Definitions and Principles of Interpretation [1201. - 1206.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"f4c5d3525789eba4471308515cd314e5ee66601c426d2d1ad3e0d3f08a10d073","source_id":"us-ca","stale":false,"prev":"us-ca/com-1203","next":"us-ca/com-1205"},"notice":"GroundRules: Original legal text. Not legal advice."}