Nevada Revised Statutes (Last Updated: December 24, 2014) |
TITLE8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS |
CHAPTER104. Uniform Commercial Code—Original Articles |
ARTICLE1. GENERAL PROVISIONS |
PART2. General Definitions and Principles of Interpretation |
NRS104.1204. Value.
Latest version.
- Except as otherwise provided in Articles 3, 4, and 5, 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.
(Added to NRS by 2005, 830)