Tex. Bus. & Com. Code Section 1.204
Value

Except as otherwise provided in Chapters 3 (Insolvency, Fraudulent Transfers, and Fraud), 4 (Business Opportunities and Agreements), and 5 (Regulation of Businesses and Services), 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.
Amended by Acts 2003, 78th Leg., ch. 542, Sec. 1, eff. Sept. 1, 2003.

Source: Section 1.204 — Value, https://statutes.­capitol.­texas.­gov/Docs/BC/htm/BC.­1.­htm#1.­204 (accessed Apr. 20, 2024).

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Accessed:
Apr. 20, 2024

§ 1.204’s source at texas​.gov