Idaho § 28-1-204 VALUE

Idaho Statutes

§ 28-1-204 — VALUE

Idaho·Title 28 COMMERCIAL TRANSACTIONS·Part 2. GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION·Ch. 1 UNIFORM COMMERCIAL CODE — GENERAL PROVISIONS

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.

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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 § 28-1-204 (VALUE) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.