The "for value" requirement for holder-in-due-course status is the same as taking something for consideration.

In other areas of the law,taking something for value usually means taking something with consideration,a bargained-for promise.However,the "for value" requirement for holder-in-due course status 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.In other words,the party must suffer an out-of-pocket loss.