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The Florida Senate

2010 Florida Statutes

Title XXXIX COMMERCIAL RELATIONS
Chapter 671 UNIFORM COMMERCIAL CODE: GENERAL PROVISIONS Entire Chapter
SECTION 211
Value.
F.S. 671.211
671.211

Value.

—

Except as otherwise provided with respect to negotiable instruments and bank collections as provided in ss. 673.3031, 674.2101, and 674.2111, 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.

History.
—

s. 17, ch. 2007-134.