Record of payment

Record of payment – in practice, this term is used in the Law of Contracts in many jurisdictions. It refers to a document in the form of receipt, which is certifying valid payment (a payment order). Every recorded payment can serve in court as evidence in order to help the party which has presented it, to prove the payment has been made. This is why, when having contractual obligations parties usually make payments to each other against receipt.
See also “Law of Contracts”Law of Contracts / Legal Glossary
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