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 instrument as security for a claim against another person, a negotiable instrument, or the incurring of an irrevocable obligation to a third party)

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Cite this Entry

“Holder for value.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/holder%20for%20value. Accessed 19 Jun. 2024.

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