Md. Code, Com. § 1-204

Current with changes from the 2024 Legislative Session effective on or before 7/1/2024, from Chs.. 2 through 1049
Section 1-204 - Value

Except as otherwise provided in §§ 3-303, 4-208, and 4-209 of this article, 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.

Md. Code, CL § 1-204