{"data":{"id":"us-md/md.-code-commercial-law-1-204","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 1–204","heading":"","body":"Except as otherwise provided in §§ 3–303, 4–208, and 4–209 of this article, 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":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=1-204","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"2623570c78734f7088581ec51ef09f03f24c8f4afd32a5ac4455e19cda0d95f6","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-1-203","next":"us-md/md.-code-commercial-law-1-205"},"notice":"GroundRules: Original legal text. Not legal advice."}