{"data":{"id":"us-tx/tex.-business-commerce-code-1.204","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 1.204","heading":"VALUE.","body":"Except as otherwise provided in Chapters 3, 4, and 5, 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.\nAmended by Acts 2003, 78th Leg., ch. 542, Sec. 1, eff. Sept. 1, 2003.","path":["BUSINESS AND COMMERCE CODE","TITLE 1. UNIFORM COMMERCIAL CODE","CHAPTER 1. GENERAL PROVISIONS","SUBCHAPTER B. GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.1.htm#1.204","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"5974edd84323156c70062bddd224b08c20b78a9e3fb6ebb3928727fd5504d17a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-1.203","next":"us-tx/tex.-business-commerce-code-1.205"},"notice":"GroundRules: Original legal text. Not legal advice."}