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.Amended by 2023 c 266,§ 102, eff. 1/1/2024. 2012 c 214 § 112; 1965 ex.s. c 157 § 1-204.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.