{"data":{"id":"us-ut/utah-code-70a-1a-204","jurisdiction":"us-ut","citation":"Utah Code § 70A-1a-204","heading":"Value.","body":"Except as otherwise provided in Chapter 3, Uniform Commercial Code - Negotiable Instruments, Chapter 4, Uniform Commercial Code - Bank Deposits and Collections, Chapter 5, Uniform Commercial Code - Letters of Credit, and Chapter 12, Uniform Commercial Code - 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 70A Uniform Commercial Code","Chapter 70A-1a Uniform Commercial Code - General Provisions","Part 70A-1a-2 General Definitions and Principles of Interpretation"],"source_url":"https://le.utah.gov/xcode/Title70A/Chapter1a/70A-1a-S204.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"ef6b0058062f7ce32f82803d00615aac9e175816c547d48d761a98e257935493","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-70a-1a-203","next":"us-ut/utah-code-70a-1a-205"},"notice":"GroundRules: Original legal text. Not legal advice."}