Georgia § 11-1-204 Value

Georgia Statutes

§ 11-1-204 — Value

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

Georgia § 11-1-204 (Value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.