ORS 71.2040: Value.

Except as otherwise provided in ORS chapters 73, 74 and 75 and ORS 80.1010 to 80.1070, 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.