TITLE XXXIV-A
UNIFORM COMMERCIAL CODE

CHAPTER 382-A
UNIFORM COMMERCIAL CODE

ARTICLE 1
GENERAL PROVISIONS

Part 2
General Definitions and Principles of Interpretation

Section 382-A:1-204

    382-A:1-204 Value. –
Except as otherwise provided in Articles 3, 4, and 5, 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. 2006, 169:1, eff. Jan. 1, 2007.