Except as otherwise provided in Alaska Stat. Chapter 45.03, Alaska Stat. Chapter 45.04, and Alaska Stat. Chapter 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;
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Terms Used In Alaska Statutes 45.01.214

  • Contract: A legal written agreement that becomes binding when signed.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
(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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