Quittance Meaning: Definition, Examples, and Translations
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quittance
[ˈkwɪt.əns ]
Definition
legal document
Quittance refers to a formal release or discharge from a debt or obligation. It is often used in legal contexts to signify that a borrower has fulfilled their financial responsibilities to a lender. In some legal systems, a quittance is specifically a document that confirms that a person has settled a monetary obligation, thus preventing any further claims related to that debt. The term can also imply freedom from an obligation or duty.
Synonyms
discharge, release, settlement.
Examples of usage
- The bank issued a quittance after the loan was fully repaid.
- She kept the quittance as proof of the settlement.
- Upon receiving the quittance, he felt relieved from his financial burdens.
Translations
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Interesting Facts
Legal Context
- In legal terms, quittance indicates that a debtor is free from their responsibilities related to a particular obligation.
- Often used in agreements to confirm that one party has fulfilled their obligations to another.
- A quittance can provide protection against future claims regarding the settled debt.
Historical Usage
- Historical records show that quittances were commonly issued as proof of settlement in medieval European transactions.
- In earlier times, quittance letters were handwritten and sometimes sealed as a sign of authenticity.
- The use of quittances has evolved but remains a vital part of financial and legal transactions.
Literature
- Quittance appears in works from classic literature as a term representing resolution or settlement.
- Authors have used the concept of quittance to symbolize freedom from burdens or responsibilities in narratives.
Cultural References
- In various cultures, the idea of quittance relates to the moral obligation to repay debts, forming part of social contracts.
- Some traditions emphasize the importance of issuing a quittance as a gesture of goodwill and trust in business dealings.
Origin of 'quittance'
Main points about word origin
- Derived from the Old French word 'quitance', originally meaning 'release or payment'.
- Rooted in the Latin word 'quietare', meaning 'to make quiet', which reflects the idea of clearing a debt.
The word 'quittance' originates from the Middle English term 'quitance', which is derived from the Old French 'quitance', meaning release or discharge. This, in turn, comes from the verb 'quiter', meaning to release or to free. The root can be traced back to Latin 'quietantia', meaning to set free or to be at rest. Historically, the concept of quittance has been important in legal and financial contexts, providing documentation that confirms the settlement of debts. The use of written quittances became more common as commerce expanded, ensuring transparency and protection for both creditors and debtors.