Definition of without recourse in the Legal Dictionary - by Free online English dictionary and encyclopedia. What is without recourse? Meaning of without recourse as a legal term. What does without recourse mean in law?
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 liability is limited to warranties pertaining to the quality of an installment ...
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 drawer) of a negotiable instrument, is assuming the risk of ...
Without recourse definition: a qualified endorsement on such a negotiable instrument, by which the endorser protects... | Meaning, pronunciation, translations and examples.
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 another party cannot sue that party, or at least cannot obtain adequate relief even if a lawsuit moves forward. Someone completely without recourse cannot sue anyone ...
Examples of recourse in a Sentence. The dispute was settled without recourse to law. a toddler quickly learns that a tantrum is a surefire recourse when a polite request for something is met with parental indifference ...
Synonyms for without recourse at Thesaurus.com with free online thesaurus, antonyms, and definitions. Dictionary and Word of the Day.
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 agreement signed by the buyer and seller determines whether a sale is a recourse sale or a without recourse sale and thereby determines the respective rights ...
without recourse definition, meaning, what is without recourse: a phrase written on a bill of exchange (= signed document promising to pay someone money…. Learn more.