Utah § 70A-1a-204 Value.

Utah Statutes

§ 70A-1a-204 — Value.

Utah § 70A-1a-204

Title 70AUniform Commercial Code

Ch. 70A-1aUniform Commercial Code - General Provisions

Part 70A-1a-2General Definitions and Principles of Interpretation

This text of Utah § 70A-1a-204 (Value.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 70A-1a-204 (2026).

Text

Except as otherwise provided in Chapter 3, Uniform Commercial Code - Negotiable Instruments, Chapter 4, Uniform Commercial Code - Bank Deposits and Collections, and Chapter 5, Uniform Commercial Code - Letters of Credit, 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 Chapter 3, Uniform Commercial Code - Negotiable Instruments, Chapter 4, Uniform Commercial Code - Bank Deposits and Collections, and Chapter 5, Uniform Commercial Code - Letters of Credit, 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.