Wisconsin § 403.303 - Value and consideration.
Full text of Wisconsin Wisconsin Statutes § 403.303 — Value and consideration., with citation guidance and answers to common questions.
§ 403.303. Value and consideration.
403.303(1) (1) An instrument is issued or transferred for value if any of the following applies: 403.303(1)(a) (a) The instrument is issued or transferred for a promise of performance, to the extent that the promise has been performed. 403.303(1)(b) (b) The transferee acquires a security interest or other lien in the instrument other than a lien obtained by judicial proceeding. 403.303(1)(c) (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. 403.303(1)(d) (d) The instrument is issued or transferred in exchange for a negotiable instrument. 403.303(1)(e) (e) The instrument is issued or transferred in exchange for incurring an irrevocable obligation to a 3rd party by the person taking the instrument. 403.303(2) (2) “Consideration” means any consideration sufficient to support a simple contract. The drawer or maker of an instrument has a defense if the instrument is issued without consideration. If an instrument is issued for a promise of performance, the issuer has a defense to the extent that performance of the promise is due and the promise has not been performed. If an instrument is issued for value as stated in sub. (1) , the instrument is also issued for consideration. 403.303 History History: 1995 a. 449 .
Frequently Asked Questions About Wisconsin § 403.303
What does Wisconsin Statutes § 403.303 cover?
Section 403.303 ("Value and consideration.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wisconsin § 403.303?
A common citation format is "Wisconsin Statutes § 403.303" (Wisconsin). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 403.303 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wisconsin.