Sec. 45.01.214. Value.
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Sec. 45.01.214. Value.
Except as otherwise provided in AS 45.03 , AS 45.04 , and AS 45.05 , 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 consideration sufficient to support a simple contract.