{"data":{"id":"us-pa/13-pa.c.s.-1204","jurisdiction":"us-pa","citation":"13 Pa.C.S. § 1204","heading":"Value.","body":"Except as otherwise provided in Divisions 3 (relating to negotiable instruments), 4 (relating to bank deposits and collections), 5 (relating to letters of credit) and 12 (relating to controllable electronic records), 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 13 - COMMERCIAL CODE","CHAPTER 12 GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION"],"source_url":"https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM\u0026ttl=13\u0026div=0\u0026chpt=12\u0026sctn=4\u0026subsctn=0","current_through":"2025-12-01 (Statute Update stamp, 13 Pa.C.S.)","vintage":"","retrieved_at":"2026-09-02T16:31:03Z","sha256":"4784b64e3c2739844c8657d7be974b202760d95a8fd087219cf515d9e1282b04","source_id":"us-pa","stale":false,"prev":"us-pa/13-pa.c.s.-1203","next":"us-pa/13-pa.c.s.-1205"},"notice":"GroundRules: Original legal text. Not legal advice."}