Nev. Rev. Stat. § 104.1204
Value
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NRS 104.1204 Value. Except as otherwise provided in
Articles 3, 4, 5 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.
(Added to NRS by 2005, 830; A 2023, 3180)
Notes of Decisions
Cited in 2
cases, 1970–2006 · leading case: In Re SCHWALB
In Re SCHWALB (2006)
“Nev. Rev.Stat. § 104.1204. Similarly, there is no doubt that, at the time of each transaction, Ms.”
Azevedo v. Minister (1970)
“Subsection 2 of NRS 104.1204 provides: “What is a reasonable time for taking any action depends on the nature, purpose and circumstances of such action.”
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