The "for-value" requirement for becoming a holder in due course is more stringent that the ________ requirement of ordinary contract law.

A) fraud
B) good faith
C) consideration
D) bad faith
E) detrimental reliance

The holder in due course must take the negotiable instrument "for value." In other areas of law,taking something for value usually means taking something with consideration,a bargained-for promise.However,the for-value requirement is more stringent than consideration.The party must take the instrument in exchange for a promise that has already been performed.The Uniform Commercial Code explicitly excludes from "value" any promises that have not yet been performed.