Legal Definitions - accountable receipt

An accountable receipt is a formal written acknowledgment that a person has received specific items, funds, or documents, and by signing it, they accept responsibility for those items. This responsibility typically includes an obligation to account for their use, ensure their safekeeping, return them, or deliver them to another party as required. It's more than just proof of delivery; it signifies an assumption of stewardship and a duty to report on the disposition of the received items.

• Example 1: Petty Cash for Office Supplies

  A marketing assistant needs $150 from the company's petty cash fund to purchase last-minute supplies for an urgent client presentation. The office manager dispenses the cash and requires the assistant to sign an accountable receipt detailing the amount received and the stated purpose.

  This illustrates an accountable receipt because the assistant isn't just confirming they received the money; they are formally accepting responsibility for it. They are now obligated to either return any unused funds or provide itemized receipts for how the $150 was spent, thereby accounting for the company's assets.

• Example 2: Seized Evidence in a Criminal Investigation

  During the execution of a search warrant, a detective seizes a suspect's laptop, several external hard drives, and a box of financial documents from their residence. The detective provides the suspect (or their legal representative) with an accountable receipt that meticulously lists every item taken into police custody.

  This receipt is accountable because it creates a formal chain of custody. It acknowledges that the police have taken possession of specific property and holds them responsible for its safekeeping, integrity, and eventual return or proper handling as evidence in a legal proceeding. The police must be able to account for each item listed.

• Example 3: Client Documents for Legal Services

  A client brings their original will, property deeds, and sensitive financial statements to their attorney's office for estate planning purposes. The paralegal assisting the attorney issues an accountable receipt to the client, itemizing each document received and noting its original status.

  This is an accountable receipt because it establishes the law firm's temporary custody and responsibility for valuable and sensitive client documents. The firm is now obligated to protect these originals, use them only for the agreed-upon legal services, and eventually return them to the client or store them securely, thereby accounting for their possession and ensuring they are not lost or misused.