Utah Statutes
§ 70A-3-303 — Value and consideration.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-3 Uniform Commercial Code - Negotiable Instruments·Part 70A-3-3 Enforcement of Instruments
(1)An instrument is issued or transferred for value if:
(1)(a) the instrument is issued or transferred for a promise of performance, to the extent the promise has been performed;
(1)(b) the transferee acquires a security interest or other lien in the instrument other than a lien obtained by judicial proceeding;
(1)(c) the instrument is issued or transferred as payment of, or as security for, an antecedent claim against any person, whether or not the claim is due;
(1)(d) the instrument is issued or transferred in exchange for a negotiable instrument; or
(1)(e) the instrument is issued or transferred in exchange for the incurring of an irrevocable obligation to a third party by the person taking the instrument.
(2)"Consideration" means any consideration sufficient to support a simple cont
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Related
Jubber v. Sleater (In Re Bedrock Marketing, LLC)
404 B.R. 929 (D. Utah, 2009)
Peterson Plumbing Supply v. Bernson
797 P.2d 473 (Court of Appeals of Utah, 1990)
Legislative History
Repealed and Re-enacted by Chapter 237, 1993 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.