Quittance definitions
| Word backwards | ecnattiuq |
|---|---|
| Part of speech | The part of speech of the word "quittance" is a noun. |
| Syllabic division | quin-tance |
| Plural | The plural of the word "quittance" is "quittances." |
| Total letters | 9 |
| Vogais (4) | u,i,a,e |
| Consonants (4) | q,t,n,c |
Quittance is a term used in legal contexts to refer to the discharge or settlement of a debt or obligation. This process typically involves the payment of a sum of money or the fulfillment of a specific requirement in order to release an individual or entity from liability.
Legal Definition
In legal terms, quittance is often used to describe the act of fulfilling or satisfying a contractual obligation. This can include the payment of money, the performance of a service, or the completion of certain conditions as outlined in a legal agreement.
Types of Quittance
There are various forms of quittance, depending on the nature of the debt or obligation being discharged. For example, in the case of a loan repayment, quittance would involve paying off the remaining balance of the loan in order to release the borrower from further liability.
Quittance in Real Estate
Quittance is also commonly used in real estate transactions to refer to the final settlement of financial arrangements between buyers and sellers. This typically involves the payment of the full purchase price and the transfer of ownership of the property.
Overall, quittance plays a crucial role in ensuring that individuals and organizations meet their legal obligations and responsibilities. By understanding the concept of quittance and adhering to its requirements, parties can effectively resolve disputes and fulfill their commitments in a legally sound manner.
Quittance Examples
- She wrote a quittance to settle the debt.
- He received a quittance for his outstanding loan.
- The landlord provided a quittance for the rent payment.
- The lawyer drafted a quittance for the legal settlement.
- The business issued a quittance for the services rendered.
- She signed the quittance to confirm the payment.
- The employee requested a quittance for the reimbursement.
- The customer obtained a quittance for the purchase.
- The bank sent a quittance for the mortgage payment.
- He kept a copy of the quittance for his records.