State Codes and Statutes
Statutes > North-carolina > Chapter_39 > GS_39-23_3§39‑23.3. Value.
(a) Value is given fora transfer or an obligation if, in exchange for the transfer or obligation,property is transferred or an antecedent debt is secured or satisfied, butvalue does not include an unperformed promise made otherwise than in theordinary course of the promisor's business to furnish support to the debtor oranother person.
(b) For the purposes ofG.S. 39‑23.4(a)(2) and G.S. 39‑23.5, a person gives a reasonablyequivalent value if the person acquires an interest of the debtor in an assetpursuant to a regularly conducted, noncollusive foreclosure sale or executionof a power of sale for the acquisition or disposition of the interest of thedebtor upon default under a mortgage, deed of trust, or security agreement.
(c) A transfer is madefor present value if the exchange between the debtor and the transferee isintended by them to be contemporaneous and is in fact substantiallycontemporaneous. (1997‑291, s. 2; 1998‑217, s. 6.)
