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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. 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.