scrip Meaning, Definition & Usage

  1. noun a certificate whose value is recognized by the payer and payee; scrip is not currency but may be convertible into currency

WordNet

Scrip noun
Etymology
OE. scrippe, probably of Scand. origin; cf. Icel. & OSw. skreppa, and also LL. scrippum, OF. esquerpe, escrepe, F. écharpe scarf. Cf. Scarp, Scarf a piece of dress.
Definitions
  1. A small bag; a wallet; a satchel. Archaic Chaucer.
    And in requital ope his leathern scrip. Milton.
Scrip noun
Etymology
From script.
Definitions
  1. A small writing, certificate, or schedule; a piece of paper containing a writing.
    Call them generally, man by man, according to the scrip. Shak.
    Bills of exchange can not pay our debts abroad, till scrips of paper can be made current coin. Locke.
  2. A preliminary certificate of a subscription to the capital of a bank, railroad, or other company, or for a share of other joint property, or a loan, stating the amount of the subscription and the date of the payment of the installments; as, insurance scrip, consol scrip, etc. When all the installments are paid, the scrip is exchanged for a bond share certificate.
  3. Paper fractional currency. Colloq.U.S.

Webster 1913