Except as otherwise provided in articles 3, 4, 5, 6, and 12 of this title 4, 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: L. 2006: Entire article R&RE, p. 465, § 1, effective September 1. L. 2023: IP amended, (SB 23-090), ch. 136, p. 526, § 2, effective August 7.