Except as otherwise provided in Chapters 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.Amended by Acts 2024, No. 773,s. 1, eff. 8/1/2024.Added by Acts 1974, No. 92, §1, eff. 1/1/1975 ; Acts 2006, No. 533, §1.