24.004 – VALUE. (a) Value is given for a transfer or an
Texas Business and Commerce Code § 24.004
Summary
This law defines what constitutes 'value' in the context of a transfer or obligation. It clarifies that value can be established through the exchange of property or the satisfaction of a debt, but excludes unfulfilled promises made outside the normal business operations.
Value is established through property transfer or debt satisfaction.
Unperformed promises for support do not count as value.
Applies to specific sections regarding transfers and obligations.
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In simple terms: Learn about Texas's VALUE. (a) Value is given for a transfer or an law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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