44-1003

44-1003. Value

A. Value is given for a transfer or an obligation if, in exchange for the transfer
or obligation, property is transferred or an antecedent debt is secured or satisfied, but
value does not include an unperformed promise to furnish support to the debtor or another
person unless the promise is made in the ordinary course of the promisor's business.

B. For the purposes of section 44-1004, subsection A, paragraph 2 and section
44-1005, a person gives a reasonably equivalent value if the person acquires an interest
of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure
sale or execution of a power of sale for the acquisition or disposition of the interest
of the debtor on default under a mortgage, deed of trust or security agreement.

C. A transfer is made for present value if the exchange between the debtor and the
transferee is intended by them to be contemporaneous and is in fact substantially
contemporaneous.