{"data":{"id":"us-nd/n.d.-cent.-code-41-01-12","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 41-01-12","heading":"(1-204) Value","body":"Except as otherwise provided in chapters 41-03, 41-04, 41-05, and 41-12, a person gives value for rights if the person acquires the rights:\n1.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 chargeback is provided for in the event of difficulties in collection;\n2.As security for, or in total or partial satisfaction of, a pre-existing claim;\n3.By accepting delivery under a pre-existing contract for purchase; or\n4.In return for any consideration sufficient to support a simple contract.","path":["Title 41 Uniform Commercial Code","Chapter 41-01 General Provisions"],"source_url":"https://ndlegis.gov/cencode/t41c01.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"61bccab0dccfb636b3fdeda211def2e079fe17c3ca0170caa3eedb7e77778a79","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-41-01-11","next":"us-nd/n.d.-cent.-code-41-01-13"},"notice":"GroundRules: Original legal text. Not legal advice."}