Except as otherwise provided in articles 3, 4, and 5, a person gives value for rights if the person acquires them: (a) 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; (b) as security for, or in total or partial satisfaction of, a preexisting claim; (c) by accepting delivery under a preexisting contract for purchase; or (d) in return for any consideration sufficient to support a simple contract.
New York Legal Code