Florida Statutes

Fla. Stat. § 673.3031 (2025)

Value and consideration.

✓ 2025 Florida Statutes — current through the 2025 Regular Session Cite as: Fla. Stat. § 673.3031 (2025)

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673.3031 Value and consideration.—

(1) An instrument is issued or transferred for value if:

(a) The instrument is issued or transferred for a promise of performance, to the extent the promise has been performed;

(b) The transferee acquires a security interest or other lien in the instrument other than a lien obtained by judicial proceeding;

(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;

(d) The instrument is issued or transferred in exchange for a negotiable instrument; or

(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) The term “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 (1), the instrument is also issued for consideration.

History.—s. 2, ch. 92-82.

Notes of Decisions

Cited in 6 cases (1 in the last 5 years), 2002–2025 · leading case: Equity Investment Partners, LP v. Lenz

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Equity Investment Partners, LP v. Lenz (2010) ca11 · cites it 3× “Fla. Stat. § 673.3031 (1)(c) (providing that an instrument is issued for value if “issued or transferred as payment of, or as security for, an antecedent claim against any person, whether or not the claim is due”); see also Lea v.”

Deakter v. Menendez (2002) fladistctapp · cites it 2× “Section 673.3031, Florida Statutes (1993) provides: *129 (1) An instrument is transferred for value if: .”

Banco Bilbao Vizcaya Argentaria v. Easy Luck Co. Inc. (2017) fladistctapp · cites it 4× “Applying sections 3-303 and 3^418 of the Uniform Commercial Code, §§ 673.3031 and 673.4181, Fla. Stat. (2012), the trial court held that BBVA should suffer the full amount of the loss.”

Equity Investment Partners, LP v. United States (2009) flsd · cites it 6× “” Fla. Stat. § 673.3031 ; see also Deakter v.”

Smihula v. Navy Federal Credit Union (2025) flmd · cites it 2× “Plaintiff originally filed a pro se Complaint against Navy Federal for breach of contract and violation of section 673.3031, Florida Statutes on May 31, 2024.”

Broide v. Alvarez (2012) fladistctapp · cites it 2× “See § 673.3031(2), Fla. Stat. (2004) (“The drawer or maker of an instrument has a defense if the instrument is issued without consideration.”

— 673.3031(2) — 1 case

Broide v. Alvarez (2012) fladistctapp “See § 673.3031(2), Fla. Stat. (2004) (“The drawer or maker of an instrument has a defense if the instrument is issued without consideration.”

— 673.3031(l)(c) — 1 case

Banco Bilbao Vizcaya Argentaria v. Easy Luck Co. Inc. (2017) fladistctapp “Applying sections 3-303 and 3^418 of the Uniform Commercial Code, §§ 673.3031 and 673.4181, Fla. Stat. (2012), the trial court held that BBVA should suffer the full amount of the loss.”

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