A counterfoil is the detachable part of a document, such as a check, receipt, or postal order, that contains a summary of the main transaction details. This section is designed to be kept by the issuer as a record of the transaction. In the United States, this part may also be referred to as a stub.
Counterfoils are commonly used in various legal and financial documents. They serve as proof of transactions and are important in legal contexts such as:
Users can manage their own documentation needs by utilizing legal templates from US Legal Forms, which are drafted by qualified attorneys.
Here are a couple of examples of abatement:
Example 1: When you write a check, the counterfoil remains attached to the checkbook. It includes details like the check number, date, and amount, which you can refer to later for your records.
Example 2: A receipt from a store may have a counterfoil that you can keep to track your purchases for warranty or return purposes. (hypothetical example)
| Term | Definition | Differences |
|---|---|---|
| Stub | A part of a document that remains with the issuer. | Often used interchangeably with counterfoil but may refer specifically to tickets or vouchers. |
| Receipt | A document acknowledging payment received. | A receipt is a complete document, while a counterfoil is only a part of a larger document. |
If you encounter a situation involving a counterfoil, ensure you keep it for your records. It may be helpful for tracking transactions or resolving disputes. For assistance, consider using US Legal Forms to find templates tailored to your needs. If your situation is complex, seeking professional legal advice is recommended.
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| Attribute | Details |
|---|---|
| Common Use | Checks, receipts, postal orders |
| Legal Importance | Proof of transaction |
| Retention | Recommended for record-keeping |
A counterfoil is the detachable part of a document that summarizes transaction details.