California Codes, Civil Code - CIV, Division 4 — General Provisions, Part 2 — Special Relations of Debtor and Creditor, Title 2 — Void and Voidable Transfers and Undertakings, Chapter 1 — Uniform Voidable Transactions Act, Section 3439.03
Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made otherwise than in the ordinary course of the promisor’s business to furnish support to the debtor or another person.
Notes
Defines value for a transfer or obligation as property transferred in exchange or an antecedent debt secured or satisfied. Excludes an unperformed promise, made outside the ordinary course of the promisor’s business, to provide support to the debtor or another person from qualifying as value.
Use as reference
Lexinter.net | California Code, Civil Code - CIV § 3439.03 | https://laws.lexinter.net/codes/california/civil-code/division-4/part-2/title-2/chapter-1/section-3439-03