“For value received” is a phrase commonly used in legal documents, particularly contracts and promissory notes, to indicate that something of worth has been exchanged between parties as consideration for a transaction. It signifies that the parties involved have received something of value, such as money, goods, or services, in exchange for their promises or obligations outlined in the agreement. By including this phrase, it helps establish the enforceability of the contract and demonstrates the intent of the parties to enter into a legally binding agreement.
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This glossary post was last updated: 29th March, 2024.
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