12A:1-204. Value.
 
   Except as otherwise provided in Chapters 3, 4, 5, and 6, a person gives value for rights if the person acquires them:
 
   a.   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;
 
   b.   As security for, or in total or partial satisfaction of, a preexisting claim;
 
   c.   By accepting delivery under a preexisting contract for purchase; or
 
   d.   In return for any consideration sufficient to support a simple contract.
 
   L.2013, c.65, s.1.