§ 3303. Value and consideration
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code
13 Pa.C.S.A. § 3303
§ 3303. Value and consideration
(b) Definition of “consideration”.--“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 performance of the promise is due and the promise has not been performed. If an instrument is issued for value as stated in subsection (a), the instrument is also issued for consideration.
Credits
1992, July 9, P.L. 507, No. 97, § 5, effective in one year.
13 Pa.C.S.A. § 3303, PA ST 13 Pa.C.S.A. § 3303
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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