Sec. 52-552d. Value.
Sec. 52-552d. Value. (a) 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.
(b) For the purposes of subdivision (2) of subsection (a) of section 52-552e and
section 52-552f, a person gives a reasonably equivalent value if the person acquires
an interest of the debtor in an asset pursuant to a regularly conducted, noncollusive
foreclosure sale or execution of a power of sale for the acquisition or disposition of the
interest of the debtor upon default under a mortgage, deed of trust or security agreement.
(c) A transfer is made for present value if the exchange between the debtor and
the transferee is intended by them to be contemporaneous and is in fact substantially
contemporaneous.
(P.A. 91-297, S. 4.)