N.Y. UCC Law § 3-303
This is the official text of N.Y. UCC Law § 3-303, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Taking for Value
Official statutory 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
Status: in_force · Read it on the official government site
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