Quittance

Quittance refers to the act of being freed or discharged from a debt, obligation, or liability. It can also signify a release from duty, responsibility, or an acknowledgment of a payment made, typically formalized through a certificate or written receipt. In a broader sense, Quittance embodies the concept of release or acquittal in various contexts, including legal and financial settings.

Quittance meaning with examples

• After months of negotiation, the tenant finally received a Quittance from the landlord, confirming that the overdue rent had been paid in full and that no further obligations remained. This document brought a sigh of relief, allowing them to focus on their new job instead of worrying about financial disputes from the past.
• The court issued a Quittance to the defendant, who had been wrongfully accused of theft. With the judge’s ruling, not only was the defendant's name cleared, but they also received a formal notice stating they were no longer liable for any claims related to the case. It marked a new beginning.
• Upon finalizing the loan repayment, Maria was handed a Quittance by the bank. This significant document documented her financial commitment's successful closure and freed her from any future claims regarding that particular loan. Now, she could redirect her financial efforts towards her upcoming home purchase.
• In the convoluted world of business partnerships, obtaining a Quittance can sometimes be as difficult as negotiating the initial deal. When one partner decided to exit the venture, they sought assurance that they would not be held liable for the company's future debts. The signed Quittance served to protect them.