Code of Virginia § 8.1A-204. Value.
132 words·~1 min read·
/va/chapter-2/8-1a-204A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as otherwise provided in Titles 8.3A, 8.4, 8.5A, and 8.12, 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.
1964, c. 219, § 8.1-201 (44); 1973, c. 509; 1984, c. 613; 1991, c. 536; 1992, c. 693; 2000, c. 1007 ; 2003, c. 353 ; 2011, c. 369 ; 2024, c. 652 .