☰ Revisor of Missouri


Chapter 400

< > Effective - 28 Aug 2017, 2 histories bottom

  400.1-204.  Value. — Except as otherwise provided in articles 3, 4, and 5, a person gives value for rights if the person acquires them:

  (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;

  (2)  as security for, or in total or partial satisfaction of, a preexisting claim;

  (3)  by accepting delivery under a preexisting contract for purchase; or

  (4)  in return for any consideration sufficient to support a simple contract.


(L. 1963 p. 503 § 1-204, A.L. 2017 H.B. 34)

---- end of effective  28 Aug 2017 ----

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