Current as of January 01, 2020 | Updated by FindLaw Staff
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Except as otherwise provided in articles 3 and 4 of chapter 84 of the Kansas Statutes Annotated, and amendments thereto, 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.
Cite this article: FindLaw.com - Kansas Statutes Chapter 84. Uniform Commercial Code § 84-1-204. Value - last updated January 01, 2020 | https://codes.findlaw.com/ks/chapter-84-uniform-commercial-code/ks-st-sect-84-1-204/
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