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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

Title 9A : Uniform Commercial Code

Article 001 : General Provisions

(Cite as: 9A V.S.A. § 1-204)
  • § 1—204. Value

    Except as otherwise provided in Articles 3, 4, and 5 of this title, 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. (Amended 2007, No. 99 (Adj. Sess.), § 2.)