Title XXVI TRADE AND COMMERCE Chapter 400 Effective - 28 Aug 2017, 2 histories 400.1-204. Value. — Except as otherwise provided in articles 3, 4, and 5, 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. -------- (L. 1963 p. 503 § 1-204, A.L. 2017 H.B. 34)
Missouri Legal Code