Statute · New York Uniform Commercial Code
N.Y. U.C.C. Law § 3-303 — Taking for Value
N.Y. U.C.C. Law § 3-303
- Type
- Statute
- Source
- New York Uniform Commercial Code
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
Section 3--303. Taking for Value.
Citator
N.Y. U.C.C. Law § 3-303 — Taking for Value is in force in the current edition of the Code, and nothing recorded condemns it.
Section 3--303. Taking for Value.
A holder takes the instrument for value
(a) to the extent that the agreed consideration has been performed or that he acquires a security interest in or a lien on the instrument otherwise than by legal process; or
(b) when he takes the instrument in payment of or as security for an antecedent claim against any person whether or not the claim is due; or
(c) when he gives a negotiable instrument for it or makes an irrevocable commitment to a third person.