Georgia § 11-1-204 - Value.
Full text of Georgia Official Code of Georgia Annotated § 11-1-204 — Value., with citation guidance and answers to common questions.
§ 11-1-204. Value.
Except as otherwise provided in Articles 3, 4, 5, and 6 of this title, a person gives value for rights if the person acquires them: 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; As security for, or in total or partial satisfaction of, a preexisting claim; By accepting delivery under a preexisting contract for purchase; or In return for any consideration sufficient to support a simple contract. (Code 1981, § 11-1-204 , enacted by Ga. L. 2015, p. 996, § 3A-1/SB 65.) Effective date. - This Code section became effective January 1, 2016. Editor's notes. - Ga. L. 2015, p. 996, § 3A-1/SB 65, effective January 1, 2016, redesignated former Code Section 11-1-204 as present Code Section 11-1-205.
Frequently Asked Questions About Georgia § 11-1-204
What does Official Code of Georgia Annotated § 11-1-204 cover?
Section 11-1-204 ("Value.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 11-1-204?
A common citation format is "Official Code of Georgia Annotated § 11-1-204" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 11-1-204 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.