§ 6A-1-204 - Value.
SECTION 6A-1-204
§ 6A-1-204 Value. – Except as otherwise provided in Chapters 3, 4, and 5, a person gives value forrights if the person acquires them:
(1) In return for a binding commitment to extend credit orfor the extension of immediately available credit, whether or not drawn uponand whether or not a charge-back is provided for in the event of difficultiesin collection;
(2) As security for, or in total or partial satisfaction of,a preexisting claim;
(3) By accepting delivery under a preexisting contract forpurchase; or
(4) In return for any consideration sufficient to support asimple contract.