Banks, Collectors, and CRAs Discuss the elimationa of secured and unsecured "debt", as well as tactics for dealing with debt collectors and credit reporting agencies.


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Old 10-24-2006, 06:34 AM
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Check...Mate? The King is Dead?

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Quote:
The word check of which "cheque" is a variant now general in English usage, signified merely the counterfoil or indent of an exchequer bill, or any draft form of payment, on which was registered the particulars of the principal part, as a check to alteration of forgery.

The original meaning of check is a move in the game of chess which directly attacks the king. The word comes from the Old. Fr. eschec, from the Med. Lat. form "scaccus' of the Person 'shah, king, ie. the king in the game of chess; cf. the origin on the "mate" from the Arabic shah-mat, the king is dead". The word was early used in a transferred sense of a stoppage or rebuff, and so is applied to anything which stops or hinders a matter in progress or which controls or restrains anything, hence a token, ticket or counterfoil which serves as a means of identification, check or counterfoil parts remained in the hands of the banker with the portion given to the customer being termed a drawn note or draft.

Quote:
coun·ter·foil (koun'tr-foil)n. The part of a check or other commercial paper retained by the issuer as a record of a transaction. (aka check stub)
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Last edited by fulltitle : 10-24-2006 at 11:34 AM.
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