§ 57a-1-204

57A-1-204. Value.Except as otherwise provided in chapters 57A-3, 57A-4, 57A-5, 57A-6, and 57A-12, a person gives value for rights if the person acquires them:(1)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;(2)As security for, or in total or partial satisfaction of, a preexisting claim;(3)By accepting delivery under a preexisting contract for purchase; or(4)In return for any consideration sufficient to support a simple contract. Source: SL 2008, ch 259, §12; SL 2024, ch 198, §2.