{"data":{"id":"us-il/810-ilcs-5-1-204","jurisdiction":"us-il","citation":"810 ILCS 5/1-204","heading":"Value.","body":"Except as otherwise provided in Articles 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 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":["CHAPTER 810 COMMERCIAL CODE","Uniform Commercial Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2301\u0026ChapterID=66\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"522a62ce8df15daa27915a39d27f6d5dab6cd56b3a341dc3214d5b270a508c7e","source_id":"us-il","stale":false,"prev":"us-il/810-ilcs-5-1-203","next":"us-il/810-ilcs-5-1-205"},"notice":"GroundRules: Original legal text. Not legal advice."}