Wis. Stat. » CHAPTER 403 — UNIFORM COMMERCIAL CODE — NEGOTIABLE INSTRUMENTS
Wisconsin Statutes

Wis. Stat. § 403.303 (2026)

Value and consideration

✓ current as of July 2026
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403.303403.303 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 HistoryHistory: 1995 a. 449.
Notes of Decisions
Cited in 4 cases, 1995–2018 · leading case: Tissue Tech. LLC v. TAK Invs. LLC, 320 F. Supp. 3d 993 (E.D. Wis. 2018).
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Tissue Tech. LLC v. TAK Invs. LLC, 320 F. Supp. 3d 993 (E.D. Wis. 2018). · cites it 4× “Lack of consideration Tak Investments argues that the Investment Notes are void for lack of consideration, noting that it received no payments in exchange for making the Investment Notes. Under the Uniform Commercial Code, the maker of a note has a defense to payment if the…”
United Catholic Par. Schs. of Beaver Dam Educ. Ass'n v. Card Servs. Ctr., 2001 WI App 229 (Wis. Ct. App. 2001). · cites it 2× “Wis. Stat. § 403.303 (1)(c); Kane, 196 Wis.”
Kane v. Kroll, 538 N.W.2d 605 (Wis. Ct. App. 1995). · cites it 4× “Under §403.303(2), Stats., a holder takes for value when he takes an instrument in payment for an antecedent claim against any person.”
Eli Env't Contractors, Inc. v. 435 Partners, LLC, 731 N.W.2d 354 (Wis. Ct. App. 2007). · cites it 2× “"Consideration" is defined in Wis. Stat. § 403.303 as: *720 (2) "Consideration" means any consideration sufficient to support a simple contract.”
— Wis. Stat. § 403.303(2) — 1 case
Kane v. Kroll, 538 N.W.2d 605 (Wis. Ct. App. 1995). “Under §403.303(2), Stats., a holder takes for value when he takes an instrument in payment for an antecedent claim against any person.”
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