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Miss. Code Ann. § 75-1-204

Value

Known as the Uniform Commercial Code

The act spans §§ 75–75 (480 sections).

Former § 75-1-204 [Codes, 1942, § 41A:1-204; Laws, 1966, ch. 316, § 1-204, eff March 31, 1968; Repealed by Laws, 2010, ch. 506, § 44, eff from and after July 1, 2010] is now fou…

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.

Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.