Kentucky Revised Statutes

Ky. Rev. Stat. § 355.1-204 (2026)

Value

✓ current as of May 2026

Find cases: SyfertCases citing this section KY-LRCapps.legislature.ky.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

Except as otherwise provided in Articles 3, 4, 5, and 12 of this chapter, 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. Effective: January 1, 2025 History: Amended 2024 Ky. Acts ch. 10, sec. 2, effective January 1, 2025. -- Repealed and reenacted 2006 Ky. Acts ch. 242, sec. 12, effective July 12, 2006. -- Created 1958 Ky. Acts ch. 77, sec. 1-204, effective July 1, 1960.

Notes of Decisions

Cited in 3 cases (1 in the last 5 years), 1988–2022 · leading case: Vanier v. Ponsoldt, 833 P.2d 949 (Kan. 1992).

Sort: Relevance Newest Treatment

Vanier v. Ponsoldt, 833 P.2d 949 (Kan. 1992). “” Ky. Rev. Stat. Ann. § 355.1-204 (Michie/BobbsMerrill 1987); K.”

Chernick v. Casares, 759 S.W.2d 832 (Ky. Ct. App. 1988). “KRS 355.1-204(2) states that “[w]hat is a reasonable time for taking any action depends on the nature, purpose and circumstances of such action.”

Versailles Farm, Home & Garden, LLC v. Harvey Haynes (Ky. 2022). “] KRS 355.1-204. This section refutes Versailles Farm’s argument.”

— Ky. Rev. Stat. § 355.1-204(2) — 1 case

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.