\mˌɛməɹˈandəm t͡ʃˈɛk], \mˌɛməɹˈandəm tʃˈɛk], \m_ˌɛ_m_ə_ɹ_ˈa_n_d_ə_m tʃ_ˈɛ_k]\
Definitions of MEMORANDUM CHECK
Sort: Oldest first
A check given by a borrower to a lender, for the amount of a short loan, with the understanding that it is not to be presented at the bank, but will be redeemed by the maker himself when the loan falls due. This understanding is evidenced by writing the word "Mem." on the check. This is not unusual among merchants. See U. S. v. Is- ham, 17 Wall. 502, 21 L. Ed. 728; Turnbull v. Osborne, 12 Abb. Prac. (N. S.) (N. Y.) 202; Franklin Bank v. Freeman, 16 Pick. (Mass.) 539.
By Henry Campbell Black
Word of the day
- a stop where carriers can be loaded and unloaded