recourse
Definition 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.
Definition 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.
recourse is in the Banking, Commerce & Finance and Corporate, Commercial, & General Law subjects.
recourse appears in the definitions of the following terms: payment under reserve, alternate dispute resolution (ADR), cross-collateral clause, commercial risk, non-recourse, marshalling of assets, bonded and completion test
recourse appears in the other terms: with partial recourse, recourse loan, without recourse, with full recourse, with recourse, sans recourse endorsement, no recourse
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