Scrip

A certificate or schedule. Evidence of the right to obtain shares in a public company; sometimes called scrip certificate, to distinguish it from the real title to shares. Whart. L. Diet. Sometimes, in this country, it indicates a substitute for a cash dividend, usually payable out of future earnings. Land scrip is a certificate that the holder is entitled to take up so much (usually government) land. The possession of such scrip is prim a facie evidence of ownership of the shares therein designated; Add. Contr. 203*. It is not goods, wares, or merchandise within the statute of frauds; 16 M. & W. 66. Scrip certificates have been held negotiable; L. It. 10 Ex. 337; Dos Pasrevenue bond scrip of the state in the form of bills payable which resembled treasury notes. They bore no interest, but were made receivable for all bills due the state except taxes levied to pay Interest on the public debt. When received by the treasurer they could be paid out again, it was held they were intended to circulate as money, and were bills of credit within the prohibition of the federal constitution; Wesley v. Eells, 177 U. S. 370, 20 Sup. Ct. 661, 44 L. Ed. 810. See Dividend; Store Orders.