§ 6A-1-204 - Value. - Rhode-island Statutes

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SECTION 6A-1-204

§ 6A-1-204 Value. – Except as otherwise provided in Chapters 3, 4, and 5, a person gives value forrights if the person acquires them:

(1) In return for a binding commitment to extend credit orfor the extension of immediately available credit, whether or not drawn uponand whether or not a charge-back is provided for in the event of difficultiesin collection;

(2) As security for, or in total or partial satisfaction of,a preexisting claim;

(3) By accepting delivery under a preexisting contract forpurchase; or

(4) In return for any consideration sufficient to support asimple contract.

State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-1 > 6a-1-204

SECTION 6A-1-204

§ 6A-1-204 Value. – Except as otherwise provided in Chapters 3, 4, and 5, a person gives value forrights if the person acquires them:

(1) In return for a binding commitment to extend credit orfor the extension of immediately available credit, whether or not drawn uponand whether or not a charge-back is provided for in the event of difficultiesin collection;

(2) As security for, or in total or partial satisfaction of,a preexisting claim;

(3) By accepting delivery under a preexisting contract forpurchase; or

(4) In return for any consideration sufficient to support asimple contract.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-1 > 6a-1-204

SECTION 6A-1-204

§ 6A-1-204 Value. – Except as otherwise provided in Chapters 3, 4, and 5, a person gives value forrights if the person acquires them:

(1) In return for a binding commitment to extend credit orfor the extension of immediately available credit, whether or not drawn uponand whether or not a charge-back is provided for in the event of difficultiesin collection;

(2) As security for, or in total or partial satisfaction of,a preexisting claim;

(3) By accepting delivery under a preexisting contract forpurchase; or

(4) In return for any consideration sufficient to support asimple contract.