{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.1A-204.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.1A-204.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.1A-204.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.1A-204.html"}],"law_id":81149,"edition_id":1,"section_id":81149,"structure_id":16315,"section_number":"8.1A-204","catch_line":"Value","history":"1964, c. 219, \u00a7 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.","full_text":"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:\n\n1\n\nin 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\n\nas security for, or in total or partial satisfaction of, a preexisting claim;3\n\nby accepting delivery under a preexisting contract for purchase; or4\n\nin return for any consideration sufficient to support a simple contract.","order_by":null,"text":{"0":{"id":290869,"text":"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:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":290870,"text":"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;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":290871,"text":"as security for, or in total or partial satisfaction of, a preexisting claim;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":290872,"text":"by accepting delivery under a preexisting contract for purchase; or","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":290873,"text":"in return for any consideration sufficient to support a simple contract.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3"}},"ancestry":[{"id":16315,"edition_id":1,"name":"General Definitions and Principles of Interpretation","identifier":"2","label":"part","depth":2,"order_by":1,"parent_id":13286,"metadata":{},"date_created":"2026-06-26 04:13:44","date_modified":"2026-06-26 04:13:44","permalink":{"id":281863,"object_type":"structure","relational_id":16315,"identifier":"2","token":"8.1A\/2","url":"\/8.1A\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13286,"edition_id":1,"name":"Uniform Commercial Code \u2014 General Provisions","identifier":"8.1A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:34","date_modified":"2026-06-26 03:44:34","permalink":{"id":281827,"object_type":"structure","relational_id":13286,"identifier":"8.1A","token":"8.1A","url":"\/8.1A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":78062,"structure_id":16315,"section_number":"8.1A-201","catch_line":"General definitions","url":"\/8.1A-201\/","token":"8.1A\/2\/8.1A-201","metadata":false},{"id":73844,"structure_id":16315,"section_number":"8.1A-202","catch_line":"Notice; knowledge","url":"\/8.1A-202\/","token":"8.1A\/2\/8.1A-202","metadata":false},{"id":66676,"structure_id":16315,"section_number":"8.1A-203","catch_line":"Lease distinguished from security interest","url":"\/8.1A-203\/","token":"8.1A\/2\/8.1A-203","metadata":false},{"id":81149,"structure_id":16315,"section_number":"8.1A-204","catch_line":"Value","url":"\/8.1A-204\/","token":"8.1A\/2\/8.1A-204","metadata":false},{"id":75646,"structure_id":16315,"section_number":"8.1A-205","catch_line":"Reasonable time; seasonableness","url":"\/8.1A-205\/","token":"8.1A\/2\/8.1A-205","metadata":false},{"id":86393,"structure_id":16315,"section_number":"8.1A-206","catch_line":"Presumptions","url":"\/8.1A-206\/","token":"8.1A\/2\/8.1A-206","metadata":false}],"previous_section":{"id":66676,"structure_id":16315,"section_number":"8.1A-203","catch_line":"Lease distinguished from security interest","url":"\/8.1A-203\/","token":"8.1A\/2\/8.1A-203","metadata":false},"next_section":{"id":75646,"structure_id":16315,"section_number":"8.1A-205","catch_line":"Reasonable time; seasonableness","url":"\/8.1A-205\/","token":"8.1A\/2\/8.1A-205","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.1A-204\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 219 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 8 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1973, chapter 509; in 1984, chapter 613; in 1991, chapter 536; in 1992, chapter 693; in 2000, chapter 1007<\/a>; in 2003, chapter 353<\/a>; in 2011, chapter 369<\/a>; in 2024, chapter 652<\/a>.<\/p>","references":[{"id":76938,"section_number":"29.1-733.2","catch_line":"Definitions","order_by":null,"url":"\/29.1-733.2\/"}],"refers_to":false,"permalink":{"id":281877,"object_type":"law","relational_id":81149,"identifier":"8.1A-204","token":"8.1A\/2\/8.1A-204","url":"\/8.1A-204\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.1A-204\/","token":"8.1A\/2\/8.1A-204","dublin_core":{"Title":"Value","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.1A-204","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

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:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> 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; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> as security for, or in total or partial satisfaction of, a preexisting claim; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> by accepting delivery under a preexisting contract<\/span> for purchase; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> in return for any consideration sufficient to support a simple contract<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVALUE (\u00a7 8.1A-204)\n\nExcept as otherwise provided in Titles 8.3A, 8.4, 8.5A, and 8.12, a person gives\nvalue for rights if the person acquires them:\n\n1. in return for a binding commitment to extend credit or for the extension of\nimmediately available credit, whether or not drawn upon and whether or not a\ncharge-back is provided for in the event of difficulties in collection;\n\n2. as security for, or in total or partial satisfaction of, a preexisting claim;\n\n3. by accepting delivery under a preexisting contract for purchase; or\n\n4. in return for any consideration sufficient to support a simple contract.\n\nHISTORY: 1964, c. 219, \u00a7 8.1-201 (44); 1973, c. 509; 1984, c. 613; 1991, c.\n536; 1992, c. 693; 2000, c. 1007; 2003, c. 353; 2011, c. 369; 2024, c. 652.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}