holder for value

holder for value
A holder who has given a valuable consideration for the document of title, instrument or investment security which he has in his possession. A holder takes an 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. U.C.C. No. 3-303

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • holder for value — holder for value: a holder to whom an instrument is issued or transferred in exchange for something of value (as a promise of performance, a security interest or lien in the instrument not obtained by judicial process, payment of or use of the… …   Law dictionary

  • holder for value — A holder who has given a valuable consideration for the document of title, instrument or investment security which he has in his possession. A holder takes an instrument for value: (a) to the extent that the agreed consideration has been… …   Black's law dictionary

  • holder for value — noun a holder of a bill of exchange or promissory note for which valuable consideration has been given …  

  • holder for value — One who has given a legal consideration for a negotiable instrument. Birket v Elward, 68 Kan 295, 74 P 1100. See holder in due course …   Ballentine's law dictionary

  • innocent holder for value — One who has acquired property from another for value without notice of a third person s equities in or claims to the property. In order that a payee of trust funds may prevail as an innocent holder for value, in addition to being innocent of its… …   Ballentine's law dictionary

  • bona fide holder for value without notice — A holder in due course. 11 Am J2d B & N § 397. See holder in due course …   Ballentine's law dictionary

  • holder — hold·er n 1: a person that holds: as a: owner the holder of a patent often used in combination a stock holder b: one that holds or occupies the property of another by agree …   Law dictionary

  • value — val·ue 1 / val yü/ n 1 a: a fair return or equivalent in goods, services, or money for something exchanged received good value for the price b: valuable consideration at consideration …   Law dictionary

  • holder in due course — Broadly, a bona fide holder for value without notice. 11 Am J2d B & N § 397. A holder of a negotiable instrument or document of title who has taken the instrument under the following conditions: that it is complete and regular upon its face; that …   Ballentine's law dictionary

  • value — The utility of an object in satisfying, directly or indirectly, the needs or desires of human beings, called by economists value in use, or its worth consisting in the power of purchasing other objects, called value in exchange. Joint Highway… …   Black's law dictionary

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