What is a Chit?

Chit refers to many things. The purpose of this blog a chit is a slip of paper with writing on it (a note)

In other definitions, if you collect chits, you are collecting debts (IOU) for other people. If you give a chit you owe someone money. You get chit, you are receiving IOU, money owed to you.

Daily Chit
Daily Chit Note