Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor’s business to furnish support to the debtor or another person.
Cal. Civ. Code § 3439.03
Uniform Voidable Transactions Act
Known as the Uniform Voidable Transactions Act
The act spans §§ 3439–3439 (14 sections).
Repealed and added by Stats. 1986, Ch. 383, Sec. 2.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.