Tex. Bus. & Com. Code § 1.204 · Subchapter B. GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION
VALUE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Except as otherwise provided in Chapters 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.
Notes and commentary — not statutory text
History
Amended by Acts 2003, 78th Leg., ch. 542, Sec. 1, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.1.htm
- Text hash
- sha256 244acd297ec55c8a34c245c23a527c5993964d8f33371aa8b56282bd9f8a80cd
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.