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.Amended by D.C. Law 25-158,§ 2, 71 DCR 002265, eff. 4/20/2024.Dec. 30, 1963, 77 Stat. 636, Pub. L. 88-243, § 1; Apr. 9, 1997, D.C. Law 11-255, § 27(jj), 44 DCR 1271; Apr. 27, 2013, D.C. Law 19-299, § 2, 60 DCR 2634.