{"data":{"id":"us-or/ors-71.2040","jurisdiction":"us-or","citation":"ORS 71.2040","heading":"Value.","body":"Except as otherwise provided in ORS chapters 73, 74 and 75 and ORS 80.1010 to 80.1070, 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":["02 - Business Organizations, Commercial Code","8. Commercial Transactions","Chapter 71 — General Provisions for Uniform Commercial Code"],"source_url":"https://www.oregonlegislature.gov/bills_laws/ors/ors071.html","current_through":"2025 Edition","vintage":"","retrieved_at":"2026-09-03T23:50:10Z","sha256":"534a5b00dc3938fe288b78f659a5ccd6e06cd028aedef496eda864e6df24b833","source_id":"us-or","stale":false,"prev":"us-or/ors-71.2030","next":"us-or/ors-71.2050"},"notice":"GroundRules: Original legal text. Not legal advice."}