34.1-1-204. Value.
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/wy/title-34-1-uniform-commercial-code/34-1-1-204·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Except as otherwise provided in articles 3, 4 and 5 of this title, a person gives value for rights if the person acquires them:
(i)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;
(ii)As security for, or in total or partial satisfaction of, a preexisting claim;
(iii)By accepting delivery under a preexisting contract for purchase; or
(iv)In return for any consideration sufficient to support a simple contract.