84-1-204. Value.
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/ks/chapter-84/84-1-204A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
84-1-204. Value. Except as otherwise provided in articles 3 and 4 of chapter 84 of the Kansas Statutes Annotated, and amendments thereto, 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.