Colorado § 4-1-204 Value

Colorado Statutes

§ 4-1-204 — Value

Colorado·Title 04 Uniform·Art. General Provisions

Except as otherwise provided in articles 3, 4, 5, 6, and 12 of this title 4, 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.

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Except as otherwise provided in articles 3, 4, 5, 6, and 12 of
this title 4, 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.

Colorado § 4-1-204 (Value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.