South Dakota § 57A-1-204 Value.

South Dakota Statutes

§ 57A-1-204 — Value.

South Dakota·Title 57A UNIFORM COMMERCIAL CODE·Ch. 57A GENERAL PROVISIONS

Except as otherwise provided in chapters 57A-3 , 57A-4 , 57A-5 , 57A-6 , and 57A-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 chapters 57A-3 , 57A-4 , 57A-5 , 57A-6 , and 57A-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.

South Dakota § 57A-1-204 (Value.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.