14 September, 2011
Just received an email that reads like a cry for help. The writer is a bloke called Rick who recalls a few years ago, leafing through his 5kg Websters (published 1959), and coming across a remarkable word. Alas, the definition has stuck in Rick’s mind, but not the word itself. To let Rick make his own plea, here’s how the meaning possibly ran:
“If two companies owe each other money, then usually the oldest invoice is paid in full first. Thus the company receiving the payment in turn makes good their payment.”
Not word for word, but that’s the gist, says Rick. Now I know we have some financiers among the Dabbling faithful, one of whom may be able to bail Rick out. I’ve rummaged around words like amortise, or champerty, but neither fits the bill. If you know, or have a decent theory, then please redeem us all.