Acquittance Definition

Forex Glossary

Definition

The term acquittance identifies some record that offers evidence the debt of a debtor was extinguished. One of the most common illustration of an acquittance would be that a receipt saying a debt liability was paid .

Explanation

An acquittance is just a written document that says that a debt or was discharged from any responsibility to your creditor. An acquittance might be issued following the debt was reimbursed in full, or as an element of a trade that releases the debtor from the obligation to settle a debt. By way of instance, a lender might issue an acquittance if a borrower pays off their loan.

While probably the most frequent illustration of an acquittance is that a reception, a debtor is given a reception after making partial payment on financing. A reception of this kind is popularly called an acquittance expert tanto.

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