Wis. Stat. § 401.204
Value
Redline — January 1, 2009 → current.View current text →
Current — January 1, 2011
As of January 1, 2009
Except as otherwise provided in chs. 403 , 404 , 405 , and 406 , a person gives value for rights if the person acquires them under any of the following circumstances:
Except as otherwise provided in chs. 403 , 404 , and 405 , a person gives value for rights if the person acquires them under any of the following circumstances:
(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.
(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.
(2) As security for, or in total or partial satisfaction of, a preexisting claim.
(3) By accepting delivery under a preexisting contract for purchase.
(3) By accepting delivery under a preexisting contract for purchase.
(4) In return for any consideration sufficient to support a simple contract.
(4) In return for any consideration sufficient to support a simple contract.
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.