Me. Stat. tit. 11 § 1-1204

Current through 131st (2023-2024) Legislature Chapter 684

Section 1-1204 - [Effective Until 7/1/2025] Value

Except as otherwise provided in Articles 3-A, 4 and 5-A, a person gives value for rights if the person acquires them: [2009, c. 325, Pt. A, §2(NEW); 2009, c. 325, Pt. A, §4(AFF).]

(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;

[2009, c. 325, Pt. A, §2(NEW); 2009, c. 325, Pt. A, §4(AFF).]

(2). As security for, or in total or partial satisfaction of, a preexisting claim;

[2009, c. 325, Pt. A, §2(NEW); 2009, c. 325, Pt. A, §4(AFF).]

(3). By accepting delivery under a preexisting contract for purchase; or

[2009, c. 325, Pt. A, §2(NEW); 2009, c. 325, Pt. A, §4(AFF).]

(4). In return for any consideration sufficient to support a simple contract.

[2009, c. 325, Pt. A, §2(NEW); 2009, c. 325, Pt. A, §4(AFF).]

11 M.R.S. § 1-1204

2009, c. 325, Pt. A, §2 (NEW) . 2009, c. 325, Pt. A, §4 (AFF) .

This section is set out more than once due to postponed, multiple, or conflicting amendments.