{"data":{"id":"us-me/11-m.r.s.-1-1204","jurisdiction":"us-me","citation":"11 M.R.S. §1-1204","heading":"Value","body":"Except as otherwise provided in Articles 3‑A, 4, 5‑A 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":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 2: GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec1-1204.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"39e018c692b970d999cc0e5b3acef98c4186719b5422316c66afe379faa1f1c3","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-1-1203","next":"us-me/11-m.r.s.-1-1205"},"notice":"GroundRules: Original legal text. Not legal advice."}