cut out

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Cut Out

To refuse to clear a transaction. See also: Clearing house, Settlement, Fail.

cut out

The deletion or withholding of a trade from clearance.
References in classic literature ?
From the uplands he could get a view of the shaded cut part of the meadow below, with its grayish ridges of cut grass, and the black heaps of coats, taken off by the mowers at the place from which they had started cutting.
He was in front of all, and cut his wide row without bending, as though playing with the scythe.
Sometimes they cut down trees of the largest size and then cull the branches, the bark of which is most to their taste.
One with a swift stroke cut the throat; another with two swift strokes severed the head, which fell to the floor and vanished through a hole.
His cleaver had a blade about two feet long, and he never made but one cut; he made it so neatly, too, that his implement did not smite through and dull itself--there was just enough force for a perfect cut, and no more.
It was cut with a knife—a sharp blade and a long handle—the man was afraid of the dogs.
My case was this: it was to be a large tree which was to be cut down, because my board was to be a broad one.
If I was boss I'd cut the wages of any man that listened to them.
I begun to scream, and the men run to stop the horses, but the belt had sucked him down, and by the time they got her stopped, he was all beat and cut to pieces.
Ten to one, if I were so foolhardy as to cut the HISPANIOLA from her anchor, I and the coracle would be knocked clean out of the water.
Well, I'm going to try, for I'm very hungry," she decided, and took a thin slice of the white breast of turkey which the shaggy man cut for her, as well as a bit of bread and butter.
Poor Geppetto kept cutting it and cutting it, but the more he cut, the longer grew that impertinent nose.