West Virginia Code § 46-1-204

Value
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Except as otherwise provided in articles 3, 4, and 5 of this chapter, 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.

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