§ 36-1-204. Value.
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§ 36-1-204. Value.
Except as otherwise provided in Chapters 3, 4, 4A, 5, and 6 of this title, a person gives value for rights if the person acquires them:
(a)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; or
(b)as security for, or in total or partial satisfaction of, a preexisting claim; or
(c)by accepting delivery under a preexisting contract for purchase; or
(d)in return for any consideration sufficient to support a simple contract.