Acquittance (Noun)
Meaning
A legal document evidencing the discharge of a debt or obligation.
Classification
Nouns denoting communicative processes and contents.
Examples
- The creditor issued an acquittance to the debtor after receiving full payment for the loan.
- Upon signing the lease agreement, the tenant was given an acquittance stating that all necessary repairs had been completed.
- After the settlor transferred the assets to the trustee, she obtained an acquittance from the trust stating that all obligations had been fulfilled.
- The vendor provided the buyer with an acquittance confirming that the purchase price had been paid and the vehicle was free of any liens.
- In exchange for clearing the overdued account, the company received an official acquittance from the bank which released it from all penalties and interest.