Okla. Stat. tit. 12A, § 12A-1-204
This is the official text of Okla. Stat. tit. 12A, § 12A-1-204, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
"Value"
Official statutory text
"Value".
Except as otherwise provided in Articles 3, 4, 5, 6, and 12 of
the Uniform Commercial Code, 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.
Except as otherwise provided in Articles 3, 4, 5, 6, and 12 of
the Uniform Commercial Code, 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.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.