For Value Received Legal Meaning and Definition

Here is a simplified definition of the legal term For Value Received.

For Value Received (phrase): This term is commonly used in the field of law, often as a part of written contracts, deeds or promissory notes. It indicates that something of measurable worth has been given or received, and as a result a specific action is agreed upon. In simpler terms, it's a formal way of saying "Because I/we have been paid, I/we agree to do this." This acknowledgement of payment helps to make a contract valid and legally enforceable.