Legal Definition and Related Resources of Without Recourse
Meaning of Without Recourse
The term as applied to a bill of exchange means that the indorsee or the holder of the same can have no recourse against the indorser who had indorsed the bill without recourse. Also see Sections 3-414(1) of Uniform Commercial Code; also Restricted Endorsement.
Without Recourse Alternative Definition
An indorsement of a negotiable instrument, whereby the indorser relieves himself of any liability to subsequent holders. The usual form is by prefixing the words Without recourse to the indorser’s signature.
Financial Definition of Without Recourse
Without the lender having any right to seek payment or seize assets in the event of nonpayment from anyone other than the party (such as a special-purpose entity) specified in the debt contract.
Related Entries of Without Recourse in the Encyclopedia of Law Project
Browse or run a search for Without Recourse in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Without Recourse in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Without Recourse in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Without Recourse in the Legal Abbreviations and Acronyms Dictionary.
Related Legal Terms
You might be also interested in these legal terms:
Mentioned in these terms
Indorsement, Qualified Endorsement.
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You might be interested in these references tools:
| Resource | Description |
|---|---|
| Without Recourse in the Dictionary | Without Recourse in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Without Recourse |
| Legal Maxims | Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law |
| Legal Answers (Q&A) | A community-driven knowledge creation process, of enduring value to a broad audience |
| Related topics | Without Recourse in the World Encyclopedia of Law |
Notice
This definition of Without Recourse is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
Vocabularies (Semantic Web Information)
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| Sitemap Index | Sitemap Index, including Taxonomies |
| https://legaldictionary.lawin.org/without-recourse/ | The URI of Without Recourse (more about URIs) |
Without Recourse Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Without Recourse in a way that is easy for anybody to understand: Obligated to bear losses from uncollectible accounts.
Concept of Without Recourse in the context of Real Property
A short definition of Without Recourse: A finance term. A mortgage or deed of trust securing a note without recourse allows the lender to look only to the security (property) for repayment in the event of default, and not personally to the borrower.
Concept of Without Recourse in the context of Real Property
A short definition of Without Recourse: A finance term. A mortgage or deed of trust securing a note without recourse allows the lender to look only to the security (property) for repayment in the event of default, and not personally to the borrower.
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