{"data":{"id":"us-ia/iowa-code-554.1204","jurisdiction":"us-ia","citation":"Iowa Code § 554.1204","heading":"Value.","body":"Except as otherwise provided in Articles 3, 4, 5, and 14, a person gives value for rights if the person acquires them:\n1. 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;\n2. as security for, or in total or partial satisfaction of, a preexisting claim;\n3. by accepting delivery under a preexisting contract for purchase; or\n4. in return for any consideration sufficient to support a simple contract.","path":["Title XIII - COMMERCE (Ch. 505 - 554I)","Chapter 554 - UNIFORM COMMERCIAL CODE","Article 1 - GENERAL PROVISIONS","Part 2 - GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/554.1204.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:15Z","sha256":"0b902a42bf50b4b4ba3814ea53016746b82be5ded5e80d04baea00a746b0986c","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-554.1203","next":"us-ia/iowa-code-554.1205"},"notice":"GroundRules: Original legal text. Not legal advice."}