Mont. Code Ann. » TITLE 30. TRADE AND COMMERCE · CHAPTER 3. UNIFORM COMMERCIAL CODE NEGOTIABLE INSTRUMENTS · Part 3. Rights of a Holder
Montana Code Annotated

Mont. Code Ann. § 30-3-303 (2026)

Value And Consideration

✓ current as of May 2026
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  1. MCA Contents
  2. TITLE 30
  3. CHAPTER 3
  4. Part 3
  5. 30-3-303 Value and consideration

TITLE 30. TRADE AND COMMERCE

CHAPTER 3. UNIFORM COMMERCIAL CODE NEGOTIABLE INSTRUMENTS

Part 3. Rights of a Holder

Value And Consideration

30-3-303. 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 that 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 proceedings;

(c) the instrument is issued or transferred as payment of, or as security for, an existing obligation of any person, whether or not the obligation 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) "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 drawer or maker 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: En. Sec. 3-303, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-303; amd. Sec. 116, Ch. 410, L. 1991.

Notes of Decisions
Cited in 2 cases, 1998–2011 · leading case: Am. Fed. Sav. & Loan Ass'n v. Madison Valley Props. Inc., 1998 MT 93 (Mont. 1998).
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Am. Fed. Sav. & Loan Ass'n v. Madison Valley Props. Inc., 1998 MT 93 (Mont. 1998). · cites it 7× “¶31 “Value” is defined in § 30-3-303, MCA. This statute, in pertinent part, provides: (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 that the promise has been performed; (b) the…”
Smith v. Farmers Union Mut. Ins., 2011 MT 216 (Mont. 2011). · cites it 2× “” FUMIC’s citation to § 30-3-303, MCA, for the proposition that “[a]n instrument that has no value is not consideration for a contract,” supports rather than undercuts the conclusion that it is the order’s value, rather than its compliance with requirements of negotiability,…”
Mont. Code Ann. § 30-3-303(1)(a): 1 case
Am. Fed. Sav. & Loan Ass'n v. Madison Valley Props. Inc., 1998 MT 93 (Mont. 1998). “¶31 “Value” is defined in § 30-3-303, MCA. This statute, in pertinent part, provides: (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 that the promise has been performed; (b) the…”
Mont. Code Ann. § 30-3-303(1)(c): 1 case
Am. Fed. Sav. & Loan Ass'n v. Madison Valley Props. Inc., 1998 MT 93 (Mont. 1998). “¶31 “Value” is defined in § 30-3-303, MCA. This statute, in pertinent part, provides: (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 that the promise has been performed; (b) the…”
Mont. Code Ann. § 30-3-303(l)(a): 1 case
Am. Fed. Sav. & Loan Ass'n v. Madison Valley Props. Inc., 1998 MT 93 (Mont. 1998). “¶31 “Value” is defined in § 30-3-303, MCA. This statute, in pertinent part, provides: (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 that the promise has been performed; (b) the…”
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