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. L. 2007, ch. 89, § 12; 7/1/2008.Revisor's Note:
Former section 84-1-204 was repealed by L. 2007, ch. 89, § 49 and the number reassigned to the current text.