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Receipt For Money: A receipt, though evidence of payment, is not absolute proof, and this evidence may be rebutted by proving that it was given under misapprehension. A receipt made by an authorized agent is as good as one made by the principal. A joint trustee who Signs a receipt for money, only because the receipt without his signature would have no effect, may, unless he is himself in default, show that he did not receive the money, and can thus remove or limit his liability ; but a co-executor who is not under the necessity of signing a receipt to give it effect is bound by the receipt that he signs.
This recapitulation of ancestral characters in ontogeny is not complete, however, for not all the stages are reproduced in every case, so far as can be perceived; and it is irregular and complicated in various ways among others by the inheritance of acquired characters. The most special students of it, as Haeckel, Fritz Miiller, Hyatt, Balfour, etc., distinguish two sorts of recapitulation "palingenesis,8 exemplified in amphibian larvae and <(ccenogenesis,B the last manifested most completely in the metamorphoses of insects. Palingenesis is recapitulation without any fundamental changes due to the later modification of the primitive method of development, while in coenogenesis, the mode of development has suffered alterations which obscure the original process of recapitulation, or support it entirely. See EMBRYOLOGY, and consult authorities mentioned thereunder.
RECEIPT, in law, a written document, declaring that certain goods or a sum of money have been received. When made out in full, a receipt should contain (1) the date when the merchandise or money was received, (2) the name of the person or firm from whom received, (3) the name of the person who received it and (4) for what the money is paid or deposited. A receipt may be in full or in part payment of an account, and operates accordingly.
GRESHAM'S LAW, gresh'amz, in economics, is usually stated as "bad money drives out good." The law stems from the fact that money has a value both as money and as a commodity in the open market. The former value is set arbitrarily by law and is relatively fixed; the latter is determined by supply and demand and varies from time to time, "Good money" has a higher value as a commodity than as money and will disappear from circulation.
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