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Me. Rev. Stat. tit. 11, § 1-1204

Value

PL 2009, c. 325, Pt

Except as otherwise provided in Articles 3‑A, 4, 5‑A and 12, 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.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.