Accountable receipt – within the meaning, given by the Law of Contracts in some jurisdictions, accountable is the receipt, issued for advance payment (or installment) made on the base of previously signed agreement. In the conveyance practice, for example, the recipient of money (the seller) issues accountable receipt for payments, received at regular intervals (i.e installments), where such accountable receipt is requested following particular clauses in preliminary contracts for off-plan property purchases. In other words, the payor receives a receipt after every installment made by them, instead of one receipt at the end of the total price paid. Accountable receipts have legal force as proper evidence in court to prove payment of parts or installments of the purchase price by the buyer towards the vendor.
See also “Law of Contracts”