recourse

Definitions (2)
Related Terms
1. Loan agreements: Legal right of a lender to seek repayment of the loan from the borrower's (and/or the guarantor's) unpledged personal property, in addition to the property pledged to the lender as collateral.
2. Negotiable instrument: Legal right of the holder to demand and require payment from the drawer, maker, or endorser if the instrument (such as a check, draft, promissory note) is dishonored. See also with recourse and without recourse.

Use 'recourse' in a Sentence

When Lindsey lost her job and couldn't make her payments, the bank informed her they had no recourse but to call her mortgage.
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Because no criminal files were charged, the Martin family had no legal recourse but to sue the Miami police department.
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I wondered what my friends recourse would be when he got to Moscow a day before his Visa started and realized he could not get into the country.
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