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TeachMeFinance.com - explain Counterfoil historic definition... Counterfoil -- (or stub). A portion of a document permanently retained in a book as a memorandum after the other portion has been detached by means of a line of perforations or otherwise, as the counterfoil or stub of a check or receipt. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.