A letter embodying an agreement for owners of land to accept compensation or another piece of land in exchange. It was the practice when the Hong Kong Government required the land in the New Territories from villagers for redevelopment. When the government of Hong Kong acquired land, the owner of the land may agree to accept compensation in cash or to accept land to be offered by the government at a price calculated by reference to land values prevailing at the date of the acquisition of the owner’s land: New Territories Land Exchange Entitlements (Redemption) Ordinance (Cap 495). The agreement was embodied in a letter issued by the government. If the owner surrendered his land voluntarily, he was issued with a letter known as Letter A. If the government compulsorily acquired the owner's land, he was issued with a letter known as Letter B. Letters A and B were therefore in effect acknowledgements by the government of a debt caused by taking away land from an owner. Letters A and B were legally choses in action and were freely transferable, were not subject to stamp duty and were not registerable either. They were an offer to a landowner of a choice of (a) taking a stated amount of cash in full and final settlement of the surrender of his land, or (b) an exchange of agricultural land in the New Territories on a foot for foot basis without any premium, or (c) the right to a future grant of building land in one of the New Territories urban development areas on terms such as those already mentioned: Yau Fook Hong Co Ltd v A-G [1986] 1 HKC 502 (PC); Sihombing and Wilkinson Hong Kong Conveyancing - Cases and Materials Vol 2, II [341]-[354].
收錄土地擁有人接受賠償、 或以另一幅土地交換的函件。如香港政府為重建的目的要求從村民收回新界土地，則會發出此等函件。在香港政府徵用土地時，土地擁有人可同意接受現金的賠償、或接受政府提議的有關土地，而價值則以提述在徵用有關擁有人土地的日期的現行土地價值計算：《新界土地交換權利（贖回）條例》 (第495章)。有關的協議收錄於由政府發出的函件。如有關擁有人自願交出其土地，則他／她會獲發A函件。如政府強迫徵用擁有人的土地，則該人會獲發B函件。A函件和B函件因而實際上屬於政府就取用擁有人的土地而引起的債項的確認書。A函件和B函件在法律上屬於據法權產，並可自由轉讓，但無需繳交印花稅，亦無需註冊。屬於向土地擁有人作出的選擇提議：(a) 取得述明現金款額的全數，並在交出其土地時取得最後的繳付，或 (b) 在沒有任何地價的情況下，以一呎換一呎的交換率的方式交換新界農地，或(c)基於上述的或其他的條款，未來獲授予其中一幅新界市區發展區域建築土地的權利：Yau Fook Hong Co Ltd v A-G [1986] 1 HKC 502（樞密院）； Sihombing and Wilkinson Hong Kong Conveyancing - Cases and Materials 第2冊, 第II章第 [341]至[354]段。

• Demanding money with menaces
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• Depletion accounting