Check endorsement without recourse keeps a bank from withdrawing the amount of the check, as well as any fees, from a depositor's account even if the deposited check bounces for in...
This phrase has several meanings. In a general sense, when the buyer of a promissory note or other negotiable instrument assumes the risk of default. Without recourse can also refer to a financing arrangement where the dealer's maximum possible...
Without Recourse. 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 ...
A phrase meaning that one party has no legal claim against another party. It is
often used in two contexts:1. In litigation, someone without recourse against ...
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 can also refer to a financing arrangement where the dealer's
maximum possible liability is limited to warranties pertaining to the quality of an ...
Definition of “without recourse” | The official Collins English Dictionary online.
Comprehensive and authoritative, rely on Collins for up-to-date English with ...
Example: Abel insisted that the mortgage to the seller be without recourse. In the
event that the value of the property declines, Abel may lose the property but he ...
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 ...
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