Nevada § 104.1204 Value

Nevada Statutes

§ 104.1204 — Value

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 104 Uniform· General Definitions and Principles of Interpretation

Except as otherwise provided in Articles 3, 4, 5 and 12, 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 Articles 3, 4, 5 and 12, 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.

Nevada § 104.1204 (Value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.