| Part of Speech | Definition | |
| Expression | 1. A check given as an acknowledgment of indebtedness, but with the understanding that it will not be presented at bank unless the maker fails to take it up on the day the debt becomes due. It usually has Mem. written on its face.[Websters]. | |
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Common Expressions: MEMORANDUM CHECK
| Expressions | Definition | ||
| Memorandum check | A check given as an acknowledgment of indebtedness, but with the understanding that it will not be presented at bank unless the maker fails to take it up on the day the debt becomes due. It usually has Mem. written on its face. Source: Webster's Revised Unabridged Dictionary. | ||
Source: compiled by the editor from various references; see credits. | Top | ||
Specialty Expressions: MEMORANDUM CHECK
| Expressions | Domain | Definition | |
| Memorandum check | Law | MEMORANDUM CHECK. It is not unusual among merchants, when one makes a tem- porary loan from another, to give the lender a check on a bank, with the express or implied agreement that it shall be redeemed by the maker himself, and that it shall not be presented at the bank for payment. If passed to a third person, it will be valid in his hands, like any other check. 11 Paige, R. 612. (references) | |
Source: compiled by the editor from various references; see credits. | Top | ||
