[mass noun] Used on a bill of exchange to indicate that the bill is a means of paying for goods or services to the value of the bill.
- ‘And, of course, one needs to ensure that in giving credit for value received that one is dealing with the same interest.’
- ‘Nor should paying a fair price for value received cause people to feel contempt or resentment.’
- ‘The issue of bonus shares is not regarded as value received if the individual shareholding is not increased.’
- ‘He submits that value received may be looked at as the 2,409 hours of the plaintiff's time multiplied by her consultation fee rate, as determined in her previous business, of $75.00 per hour.’
- ‘At some point, the industry will arrive at a more rational basis for charging for software, one that truly reflects customers' actual usage and value received.’