57A-1-204. Value.
Except as otherwise provided in chapters 57A-3, 57A-4, and 57A-5, 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.
Source: SL 2008, ch 259, ยง12.
Structure South Dakota Codified Laws
Title 57A - Uniform Commercial Code
Chapter 01 - General Provisions
Section 57A-1-101 - Short title.
Section 57A-1-102 - Scope of chapter.
Section 57A-1-104 - Construction against implied repeal.
Section 57A-1-105 - Severability.
Section 57A-1-106 - Use of singular and plural--Gender.
Section 57A-1-107 - Section captions.
Section 57A-1-108 - Relation to Electronic Signatures in Global and National Commerce Act.
Section 57A-1-201 - General definitions.
Section 57A-1-202 - Notice--Knowledge.
Section 57A-1-203 - Lease distinguished from security interest.
Section 57A-1-205 - Reasonable time--Seasonableness.
Section 57A-1-206 - Presumptions.
Section 57A-1-301 - Territorial applicability--Parties' power to choose applicable law.
Section 57A-1-302 - Variation by agreement.
Section 57A-1-303 - Course of performance, course of dealing, and usage of trade.
Section 57A-1-304 - Obligation of good faith.
Section 57A-1-305 - Remedies to be liberally administered.
Section 57A-1-306 - Waiver or renunciation of claim or right after breach.
Section 57A-1-307 - Prima facie evidence by third-party documents.
Section 57A-1-308 - Performance or acceptance under reservation of rights.