Idaho Code § 28-1-204

Current through the 2024 Regular Session

Section 28-1-204 - VALUE

Except as otherwise provided in chapters 3, 4, 5 and 6, title 28, Idaho Code, 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.

Idaho Code § 28-1-204

[28-1-204, added 2004, ch. 43, sec. 14, p. 148.]