receipt


receipt
The acceptance of property upon a delivery thereof. The acceptance of money offered by way of payment or gift. An acknowledgment in writing of the receipt of money. Glickman v Weston, 140 Or 117, 11 P2d 281, 12 P2d 1005. Written evidence of the discharge of an obligation. No receipt can have the effect of destroying per se any subsisting right; it is only evidence of a fact. It is not a release. A receipt "in full," however, given knowingly and without fraud, has been accorded the conclusive effect of a formal release, but such cases are usually those of compromise of disputed claims or receipts for unliquidated damages. Ryan v Ward, 48 NY 204. A mere receipt for money does not import a promise, obligation, or liability and hence is not within the statute of limitations governing contracts, but if it recites that the money received is to be applied to the account of the person from whom it was received, it partakes of both a receipt and a contract and becomes subject to the statute of limitations applicable to contracts. 34 Am J1st Lim Ac § 85. See interim receipt; trust receipt; warehouse receipt.

Ballentine's law dictionary. . 1998.

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  • receipt — re·ceipt /ri sēt/ n 1: the act, process, or fact of taking possession 2: something (as income) received usu. used in pl. 3: a writing acknowledging the receiving of goods or money Merriam Webster’s Dictionary of Law. Merriam Webster …   Law dictionary

  • Receipt — Re*ceipt (r[ e]*s[=e]t ), n. [OE. receite, OF. recete, recepte, F. recette, fr. L. recipere, receptum, to receive. See {Receive}.] 1. The act of receiving; reception. At the receipt of your letter. Shak. [1913 Webster] 2. Reception, as an act of… …   The Collaborative International Dictionary of English

  • Receipt — Re*ceipt , v. t. [imp. & p. p. {Receipted}; p. pr. & vb. n. {Receipting}.] 1. To give a receipt for; as, to receipt goods delivered by a sheriff. [1913 Webster] 2. To put a receipt on, as by writing or stamping; as, to receipt a bill. [1913… …   The Collaborative International Dictionary of English

  • receipt — n 1 *reception 2 Receipt, recipe, prescription are comparable when they mean a formula or set of directions for the compounding of ingredients especially in cookery and medicine. Receipt is often employed as a designation of a formula for making… …   New Dictionary of Synonyms

  • receipt — receipt, recipe In current English the meanings of these two words are distinct and cause no difficulty, but readers of Victorian or earlier literature should bear in mind that a receipt could then be what we now know as recipe (‘a formula and… …   Modern English usage

  • receipt — [ri sēt′] n. [altered (infl. by L) < ME receite < Anglo Fr, for OFr recete < ML recepta < L, fem. of receptus, pp. of recipere: see RECEIVE] 1. old fashioned var. of RECIPE 2. a receiving or being received 3. a written acknowledgment… …   English World dictionary

  • Receipt — Re*ceipt , v. i. To give a receipt, as for money paid. [1913 Webster] …   The Collaborative International Dictionary of English

  • receipt — (n.) late 14c., statement of ingredients in a potion or medicine, from Anglo Fr. or O.N.Fr. receite receipt, recipe (c.1300), altered (by influence of receit he receives, from V.L. *recipit) from O.Fr. recete, from L. recepta received, fem. pp.… …   Etymology dictionary

  • receipt — [n1] acknowledgment of delivery cancellation, certificate, chit, counterfoil, declaration, discharge, letter, notice, proof of purchase, quittance, release, sales slip, slip, stub, voucher; concepts 271,332 receipt [n2] delivery of goods… …   New thesaurus

  • receipt — ► NOUN 1) the action of receiving something or the fact of its being received. 2) a written acknowledgement of receiving something. 3) (receipts) an amount of money received over a period by an organization. ORIGIN Old French receite, from Latin… …   English terms dictionary

  • receipt — a written acknowledgement of having received money or goods specified Also statement Euroclear Clearing and Settlement glossary A detailed summary of an account. Euroclear Clearing and Settlement glossary See deposit receipt, withdrawal receipt.… …   Financial and business terms