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2019 Alaska Statutes
Title 45. Trade and Commerce
Chapter 01. General Provisions
Article 2. General Definitions and Principles of Interpretation.
Sec. 45.01.214. Value.
Universal Citation: AK Stat § 45.01.214 (2019)
Except as otherwise provided in AS 45.03, AS 45.04, and AS 45.05, 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 consideration sufficient to support a simple contract.
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