- (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.
Except as otherwise provided in §§ 3-303, 4-208, and 4-209 of this article, a person gives value for rights if the person acquires them:
Added by Acts 2012, c. 673, § 2, eff. June 1, 2012.