for value received definition

for value received

Phrase traditionally used in bills of exchange to indicate that a transaction exists, and that the drawer of the bill has received good or money from its drawee. It is not a legal requirement, however, because every party whose signature appears on the bill is considered prima facie a party thereto for value.

for value received is in the Accounting & Auditing, Banking, Commerce & Finance and International Trade & Relations subjects.

for value received appears in the definition of the following term: endorsement

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