Okla. Stat. tit. 12A, § 12A-3-303: Value and Consideration

VALUE AND CONSIDERATION

(a) An instrument is issued or transferred for value if:

(1) the instrument is issued or transferred for a promise

of performance, to the extent the promise has been

performed;

(2) the transferee acquires a security interest or other

lien in the instrument other than a lien obtained by

judicial proceeding;

(3) the instrument is issued or transferred as payment of,

or as security for, an antecedent claim against any

person, whether or not the claim is due;

(4) the instrument is issued or transferred in exchange

for a negotiable instrument; or

(5) the instrument is issued or transferred in exchange

for the incurring of an irrevocable obligation to a

third party by the person taking the instrument.

(b) "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) of this section, the instrument is

also issued for consideration.