{"data":{"id":"us-mn/minn.-stat.-336.1-204","jurisdiction":"us-mn","citation":"Minn. Stat. § 336.1-204","heading":"VALUE.","body":"Except as otherwise provided in articles 3, 4, 5, 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":["TRADE REGULATIONS, CONSUMER PROTECTION","CHAPTER 336. UNIFORM COMMERCIAL CODE","Article 1 GENERAL PROVISIONS","Part 2 GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION"],"source_url":"https://www.revisor.mn.gov/statutes/cite/336.1-204","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:43Z","sha256":"9eee5bcb0ac59cfaea0306a17f44784268d565b81c06c0bb56e0a415bfaabd71","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-336.1-203","next":"us-mn/minn.-stat.-336.1-205"},"notice":"GroundRules: Original legal text. Not legal advice."}