428.019. Value. - Missouri Statutes

Value.

428.019. 1. Value is given for a transfer or an obligationif, in exchange for the transfer or obligation, property istransferred or an antecedent debt is secured or satisfied, butvalue does not include an unperformed promise made otherwise thanin the ordinary course of the promisor's business to furnishsupport to the debtor or another person.

2. For the purposes of subdivision (2) of subsection 1 ofsection 428.024 and section 428.029, a person gives a reasonablyequivalent value if the person acquires an interest of the debtorin an asset pursuant to a regularly conducted, noncollusiveforeclosure sale or execution of a power of sale for theacquisition or disposition of the interest of the debtor upondefault under a mortgage, deed of trust, or security agreement.

3. A transfer is made for present value if the exchangebetween the debtor and the transferee is intended by them to becontemporaneous and is in fact substantially contemporaneous.

(L. 1992 S.B. 448)