N.Y. Uniform Commercial Code § 3-303 (2026)

Section 3--303. Taking for Value.
  A holder takes the instrument for value
  (a) to the extent that the agreed consideration has been performed or
that he acquires a security interest in or a lien on the instrument
otherwise than by legal process; or
  (b) when he takes the instrument in payment of or as security for an
antecedent claim against any person whether or not the claim is due; or
  (c) when he gives a negotiable instrument for it or makes an
irrevocable commitment to a third person.