# Iowa Code § 554.1204: Value

> Iowa · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1204

## Section

- **Citation:** Iowa Code § 554.1204
- **Heading:** Value
- **Jurisdiction:** Iowa
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** IA Code / Title XIII / Chapter 554 / Section 554.1204

## Text

Except as otherwise provided in Articles 3, 4, 5, and 14, 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.

2007 Acts, ch 41, §16, 57; 2022 Acts, ch 1117, §12

## Nearby sections

- [Iowa Code § 554.1101 Short titles.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1101.md)
- [Iowa Code § 554.1102 Scope of Article.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1102.md)
- [Iowa Code § 554.1107 Section captions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1107.md)
- [Iowa Code § 554.1108 Relation to Electronic Signatures in Global and National Commerce Act.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1108.md)
- [Iowa Code § 554.1110 Rules for filing and indexing.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1110.md)
- [Iowa Code § 554.1201 General definitions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1201.md)
- [Iowa Code § 554.1204 Value.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1204.md)
- [Iowa Code § 554.1205 Reasonable time — seasonableness.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1205.md)
- [Iowa Code § 554.1206 Presumptions.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1206.md)
- [Iowa Code § 554.1301 Territorial applicability — parties’ power to choose applicable law.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1301.md)
- [Iowa Code § 554.1302 Variation by agreement.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1302.md)
- [Iowa Code § 554.1303 Course of performance, course of dealing, and usage of trade.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1303.md)
- [Iowa Code § 554.1304 Obligation of good faith.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1304.md)
- [Iowa Code § 554.1305 Remedies to be liberally administered.](https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1305.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IA_TXIII_C554_S554.1204. Check the current official text before relying on it. Not legal advice.