Section 1301.204 | Value - UCC 1-204.
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Effective:
October 6, 2026
Latest Legislation:
House Bill 195 - 136th General Assembly
Value [UCC 1-204]
Except as otherwise provided in Chapters 1303., 1304., 1305., and 1314. of the Revised Code, a person gives value for rights if the person acquires them:
(A) 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;
(B) As security for, or in total or partial satisfaction of, a preexisting claim;
(C) By accepting delivery under a preexisting contract for purchase; or
(D) In return for any consideration sufficient to support a simple contract.
Last updated July 20, 2026 at 2:49 PM
Available Versions of this Section
- June 29, 2011 – House Bill 9 - 129th General Assembly [ View June 29, 2011 Version ]
- October 6, 2026 – Amended by House Bill 195 - 136th General Assembly [ View October 6, 2026 Version ]