Sec.  25.  Value,  what  constitutes.  —  Value  is  any  consideration sufficient  to  support  a  simple  contract.  An  antecedent  or  pre-existing  debt  constitutes  value;  and  is  deemed  such  whether  the instrument is payable on demand or at a future time.

VALUABLE CONSIDERATION, IN GENERAL

•      Consideration  is  the  inducement—cause  or  impelling  influence  which induces a contracting party to enter into the contract

•      Valuable consideration may in general terms be said to consist either in  some  right,  interest,  profit  or  benefit  accruing  to  the  party  who makes  the  contract,  or  some  forbearance,  detriment,  loss  or  some
responsibility to act, or labor, or service given, suffered, or undertaken by the other side