RCW 62A.1-204
148 words·~1 min read·
/wa/title-62a/chapter-62a-1/62a-1-204·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as otherwise provided in Articles 3, 4, 5, and 12 of this title, 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.
[ 2023 c 266 s 102 ; 2012 c 214 s 112 ; 1965 ex.s. c 157 s 1-204.]
Notes:
Construction — Effective date — 2023 c 266: See notes following RCW 62A.12-101 .
Application — Savings — 2012 c 214: See notes following RCW 62A.1-101 .