Minnesota § 336.1-204 336.1-204 VALUE.

Minnesota Statutes

§ 336.1-204 — 336.1-204 VALUE.

Minnesota § 336.1-204

PartTRADE REGULATIONS, CONSUMER PROTECTION

Ch. 336UNIFORM COMMERCIAL CODE

This text of Minnesota § 336.1-204 (336.1-204 VALUE.) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 336.1-204 (2026).

Text

Except as otherwise provided in articles 3, 4, 5, and 12, 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 chargeback 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, and 12, 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 chargeback 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.