New York § 3-408 Consideration

New York Statutes

§ 3-408 — Consideration

New York § 3-408

Law UCCUniform Commercial Code

Part 4Liability of Parties

Art. 3Commercial Paper

This text of New York § 3-408 (Consideration) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Uniform Commercial Code § 3-408 (2026).

Text

Section 3--408. Consideration.\n  Want or failure of consideration is a defense as against any person\nnot having the rights of a holder in due course (Section 3--305), except\nthat no consideration is necessary for an instrument or obligation\nthereon given in payment of or as security for an antecedent obligation\nof any kind. Nothing in this section shall be taken to displace any\nstatute outside this Act under which a promise is enforceable\nnotwithstanding lack or failure of consideration. Partial failure of\nconsideration is a defense pro tanto whether or not the failure is in an\nascertained or liquidated amount.\n

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Section 3--408. Consideration.\n Want or failure of consideration is a defense as against any person\nnot having the rights of a holder in due course (Section 3--305), except\nthat no consideration is necessary for an instrument or obligation\nthereon given in payment of or as security for an antecedent obligation\nof any kind. Nothing in this section shall be taken to displace any\nstatute outside this Act under which a promise is enforceable\nnotwithstanding lack or failure of consideration. Partial failure of\nconsideration is a defense pro tanto whether or not the failure is in an\nascertained or liquidated amount.\n