Arkansas § 4-1-204 Value

Arkansas Statutes

§ 4-1-204 — Value

Arkansas § 4-1-204

Title4

This text of Arkansas § 4-1-204 (Value) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 4-1-204 (2026).

Text

Except as otherwise provided in Chapters 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.

Free access — add to your briefcase to read the full text and ask questions with AI

Except as otherwise provided in Chapters 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.