Current through L. 2023, c. 349.
Section 12A:1-204 - ValueExcept as otherwise provided in Chapters 3, 4, 5, and 6, a person gives value for rights if the person acquires them:
a. 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;b. As security for, or in total or partial satisfaction of, a preexisting claim;c. By accepting delivery under a preexisting contract for purchase; ord. In return for any consideration sufficient to support a simple contract.Amended by L. , c. 65,s. 1, eff. 7/1/2013.