Rebate

rate. The name given to the rate of drawback or allowance for the payment before maturity (before due) of a time bill of exchange. A deduction is made from the amount of the bill equal to interest at an agreed rate for the unexpired time which the bill has to run.; Receipt. An acknowledgment of the payment of money or discharge of an obligation or an acknowledgment of the po e ion 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. It is a common practise of expre companies to i ue receipts relieving them of liability beyond $50 for lo unle the value of the package is given at the time of shipment. This has been held to be a reasonable condition on the ground that the expre company in accepting goods of greater value than $50 is entitled to be informed of the full value if it is to be held responsible therefor in order that it may charge more for its service and take better care of the goods. When a receipt containing a limitation of liability is accepted by the shipper he is a umed to have a ented to the condition and he is accordingly bound by it.