{"data":{"id":"us-ny/n.y.-uniform-commercial-code-law-1-204","jurisdiction":"us-ny","citation":"N.Y. Uniform Commercial Code Law § 1-204","heading":"Value","body":"Section 1--204. Value.\n  Except as otherwise provided in articles 3, 4, 5, and 12 of this act a\nperson gives value for rights if the person acquires them:\n  (a) in return for a binding commitment to extend credit or for the\nextension of immediately available credit, whether or not drawn upon and\nwhether or not a charge-back is provided for in the event of\ndifficulties in collection;\n  (b) as security for, or in total or partial satisfaction of, a\npreexisting claim;\n  (c) by accepting delivery under a preexisting contract for purchase;\nor\n  (d) in return for any consideration sufficient to support a simple\ncontract.","path":["Uniform Commercial Code Law","Article 1. No title","Part 2. General Definitions and Principles of Interpretation"],"source_url":"https://legislation.nysenate.gov/api/3/laws/UCC/1-204","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"dcb6fd335fa8b50dece12e4971d3f781501415ac27acdc96e3aa3a593c3b4e24","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-uniform-commercial-code-law-1-203","next":"us-ny/n.y.-uniform-commercial-code-law-1-205"},"notice":"GroundRules: Original legal text. Not legal advice."}