{"data":{"id":"us-ky/krs-355.1-204","jurisdiction":"us-ky","citation":"KRS 355.1-204","heading":"Value.","body":"Except as otherwise provided in Articles 3, 4, 5, and 12 of this chapter, a person gives\nvalue for rights if the person acquires them:\n(1) In return for a binding commitment to extend credit or for the extension of\nimmediately available credit, whether or not drawn upon and whether or not a\ncharge-back is provided for in the event of difficulties in collection;\n(2) As security for, or in total or partial satisfaction of, a preexisting claim;\n(3) By accepting delivery under a preexisting contract for purchase; or\n(4) In return for any consideration sufficient to support a simple contract.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55626","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:41Z","sha256":"019c8e1800008c70d26e6ca514a64e736788396f3a57250465fb0fe7ee7b7d3c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.1-203","next":"us-ky/krs-355.1-205"},"notice":"GroundRules: Original legal text. Not legal advice."}