Nebraska Uniform Commercial Code 1-204
- Uniform Commercial Code
- 1-204
UCC 1-204
1-204.
Value.
Except as otherwise provided in articles 3, 4, 5, and 12, 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.
Source
- Laws 2005, LB 570, § 17;
- Laws 2024, LB94, § 3.
- Effective Date: July 19, 2024