The utility of an object in satisfying, directly or indirectly, the needs or desires of human beings, called by economists “value in use;” or its worth consisting in the power of purchasing other objects, called “value in exchange.” Also the estimated or appraised worth of any object of property, calculated in money. The term is also often used as an abbreviation for ” valuable consideration ,” especially in the phrases “purchaser for value,” “holder for value,” etc.
Black’s Law Online Dictionary
