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TeachMeFinance.com - explain Receipt receipt -- a written acknowledgment that something of value was received. another definition... Receipt -- 1. Any written acknowledgment of value received. It is a mere admission of a fact without containing any affirmative obligation. 2. Receipt of goods means taking possession of goods. historic definition... Receipt -- An acknowledgment of the payment of money or discharge of an obligation or an acknowledgment of the possession of something. A receipt for money is not always conclusive. A receipt is held to be true until shown to be false. The one who alleges its falsity must prove his allegation. When proved to be incorrect or false a receipt ceases to be binding. A check delivered and paid is the best kind of evidence of the payment of an obligation. 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 © 2005 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.