Mo. Rev. Stat. § 400.1-204

Current with changes from the 2023 Legislative Session

Section 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.

§ 400.1-204, RSMo

Amended by 2017 Mo. Laws, HB 34,s A, eff. 8/28/2017.

L. 1963 p. 503 § 1-204