Neb. U.C.C. § 1-204

Current with changes from the November 5, 2025 election

Section 1-204 - Value

Except as otherwise provided in articles 3, 4, 5, and 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.

Neb. U.C.C. § 1-204

Laws 2005, LB 570, § 17; Laws 2024, LB 94, § 3.

Amended by Laws 2024, LB 94,§ 3, eff. 7/19/2024.