Memorandum Check
The Cyclopedic Law Dictionary · Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
The Cyclopedic Law Dictionary
It is not unusual among merchants, when one makes a temporary loan to another, to give the lender a check on a bank, with the express or implied agreement that it shall be redeemed by the maker himself, and that it shall not be presented at the bank for payment; such understanding being denoted by the word "memorandum" upon it. If passed to a third person, it will be valid in his hands like any other check.
4 Duer (N. Y.) 122; 11 Paige, Ch. (N. Y.) 612.