Mississippi Code
Part 3 - . Enforcement of Instruments
§ 75-3-303. Value and consideration

An instrument is issued or transferred for value if:
"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 performance of the promise is due and the promise has not been performed. If an instrument is issued for value as stated in subsection (a), the instrument is also issued for consideration.

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