What is Acquittance?

Legal Definition
Contracts. An agreement in writing to discharge a party from an engagement to pay a sum of money. it is evidence of payment. It differs from a release in this, that the latter must be under seal, while an acquittance need not be under seal. Poth. Oblig. n. 781. In Pennsylvania, a receipt, (q. v.) though not under seal, has nearly the same effect as a release. 1 Rawle, R. 391. Vide 3 Salk. 298, pl. 2; Off. of Ex. 217 ; Co. Litt. 212 a, 273 a.
-- Bouviers Law Dictionary
Legal Definition
In contracts. A written discharge, whereby one is freed from an obligation to pay money or perform a duty. It differs from a release in not requiring to be under seal. This word, though perhaps not strictly speaking synonymous with "receipt," includes it. A receipt is one form of an acquittance; a discharge is another. A receipt in full is an acquittance, and a receipt for a part of a demand or obligation is an acquittance pro tanto. State v. Shelters, 51 Vt. 104, 31 Am. Rep. 679.
-- Black's Law Dictionary
Legal Definition
A written discharge of an obligation. See 31 Am. Rep. 679.
-- Ballentine's Law Dictionary