New York § 3-303 Taking for Value

New York Statutes

§ 3-303 — Taking for Value

New York § 3-303

Law UCCUniform Commercial Code

Part 3Rights of a Holder

Art. 3Commercial Paper

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Bluebook

N.Y. Uniform Commercial Code § 3-303 (2026).

Text

Section 3--303. Taking for Value.\n  A holder takes the instrument for value\n  (a) to the extent that the agreed consideration has been performed or\nthat he acquires a security interest in or a lien on the instrument\notherwise than by legal process; or\n  (b) when he takes the instrument in payment of or as security for an\nantecedent claim against any person whether or not the claim is due; or\n  (c) when he gives a negotiable instrument for it or makes an\nirrevocable commitment to a third person.\n

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Section 3--303. Taking for Value.\n A holder takes the instrument for value\n (a) to the extent that the agreed consideration has been performed or\nthat he acquires a security interest in or a lien on the instrument\notherwise than by legal process; or\n (b) when he takes the instrument in payment of or as security for an\nantecedent claim against any person whether or not the claim is due; or\n (c) when he gives a negotiable instrument for it or makes an\nirrevocable commitment to a third person.\n