Oregon Revised Statutes Chapter 71 § 71.2040 — Value
Oregon Revised Statutes Chapter 71 ·
Oregon Code § 71.2040·Enacted ·Last updated March 01, 2026
Statute Text
Value.
Except as otherwise provided in
ORS chapters 73, 74 and 75 and ORS 80.1010 to 80.1070, 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. [1961 c.726 §71.2040;
2009 c.181 §11; 2025 c.33 §3]
Plain English Explanation
This Oregon statute addresses Value. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 71.2040
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Value. Read the full statute text above for details.
This page reflects the current text as of our last update. Always verify with the official Oregon legislature website for the most current version.
The formal citation is Oregon Code § 71.2040. Use this format in legal documents and court filings.
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