Legal Definition of Receipt
A receipt is an acknowledgment in writing that the party giving the same has received from the person therein named, the money or other thing therein specified.2 min read
Receipt
A receipt is an acknowledgment in writing that the party giving the same has received from the person therein named, the money or other thing therein specified.
Although expressed to be in full of all demands, it is only prima facie evidence of what it purports to be and upon satisfactory proof being made that it was obtained by fraud, or given either under a mistake of facts or an ignorance of law, it may be inquired into and corrected in a court of law as well as in equity. A receipt in full, given with a full knowledge of all the circumstances and in the absence of fraud, seems to be conclusive.