Value
9A V.S.A. § 1—204
in effect1—204. Value
Except as otherwise provided in Articles 3, 4, 5, 6, and 12 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; 2025, No. 17, § 1, eff. July 1, 2025.
Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/section/09A/001/00204Fetched: 10/21/2026