A phrase meaning a borrower cannot appeal to a borrower after failing to pay debts. Rather, the lender can take the property.
Related information about without recourse:
- Without Recourse - Legal Dictionary - The Free Dictionary
A phrase used by an endorser (a signer other than the original maker) of a negotiable instrument (for example, a check or promissory note) to mean that if ...
- Without recourse | LII / Legal Information Institute
In litigation, someone without recourse against another party cannot sue that party, or at least cannot obtain adequate relief even if a lawsuit moves forward.
- Without Recourse Definition | Investopedia
Without recourse can also refer to a financing arrangement where the dealer's maximum possible liability is limited to warranties pertaining to the quality of an ...
- Checks endorsed "without recourse" won't bounce - snopes.com
Comment: I have recently heard that if you endorse a check and include the phrase 'without recourse' that you are not held liable if the check is ...
- What is without recourse? definition and meaning
Definition of without recourse: Without subsequent liability. As a legal term it signifies that a buyer (and not the seller) of an asset, or the holder (and not the ...
- Without Recourse: Definition from Answers.com
Without Recourse In general: phrase meaning that credit risk, or risk of nonpayment, is assumed by the buyer, rather than the seller, of a promissory note .
- What Does Sales With Recourse & Without Recourse Mean ...
When it comes to sales, "with recourse" is a legal term that means with subsequent liability, and "without recourse" means without subsequent liability. The sales ...
- Definition of without recourse | Collins English Dictionary
Example Sentences Including 'without recourse'. "My days of allowing my name to be trashed without recourse are over," the statement said. Courier, Sunday ...