---
title: O.C.G.A. § 11-1-204. Value.
collection: code
id: 11-1-204
cite_as: O.C.G.A. § 11-1-204 (2025)
canonical_url: https://georgiacommons.org/code/11-1-204
md_url: https://georgiacommons.org/code/11-1-204.md
text_url: https://georgiacommons.org/code/11-1-204/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-pdf.pdf?sfvrsn=df925151_0#page=13
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCIAL CODE / GENERAL PROVISIONS / GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION
---

# O.C.G.A. § 11-1-204. Value.

Except as otherwise provided in Articles 3, 4, 5, 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.

## History

Code 1981, § 11-1-204, enacted by Ga. L. 2015, p. 996, § 3A-1/SB 65; Ga. L. 2024, p. 817, § 5-3/HB 1240, effective July 1, 2024.

## Editor's Notes

Ga. L. 2024, p. 817, § 1-1/HB 1240, not codified by the General Assembly, provides: “This Act shall be known and may be cited as the ‘Uniform Commercial Code Modernization Act of 2024.’”

Ga. L. 2024, p. 817, § 1-2/HB 1240, not codified by the General Assembly, provides: “Nothing in this Act shall be construed to support, endorse, create, or implement a national digital currency.”

## Amendments

The 2024 amendment, effective July 1, 2024, substituted “and 12” for “and 6” in the middle of the introductory paragraph.