recourse note

recourse note
recourse note see note

Merriam-Webster’s Dictionary of Law. . 1996.

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  • Recourse note — A recourse note is a debt note held by a lender that entitles the lender to seek financial recourse upon the default of the borrower. The note is usually secured by a mortgage or a deed.ee also*Loan …   Wikipedia

  • non–recourse note — see note Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • recourse — re·course / rē ˌkōrs, ri kōrs/ n 1 a: the act of turning to someone or something for assistance esp. in obtaining redress b: a means to a desired end esp. in the nature of a remedy or justice; also: the end itself 2: the right or ability to… …   Law dictionary

  • note — 1 n 1 a: a written promise to pay a debt; specif: promissory note in this entry bank note: a promissory note issued by a bank payable to bearer on demand but without interest and circulating as money cog·no·vit note /käg nō vit , kōg /: a note in …   Law dictionary

  • without recourse — adverb conditional endorsement, qualified endorsement, restricted, subject to terms associated concepts: endorsement without recourse Burton s Legal Thesaurus. William C. Burton. 2006 without recourse …   Law dictionary

  • Senior Convertible Note — A debt security that contains an option where the note will be converted into a predefined amount of the issuer s shares. A senior convertible note has priority over all other debt securities issued by the same organization. Since the bondholder… …   Investment dictionary

  • without recourse — Words that may be used by a drawer in signing a draft or check so as to eliminate completely the drawer s secondary liability. This phrase, used in making a qualified indorsement of a negotiable instrument, signifies that the indorser means to… …   Black's law dictionary

  • Without Recourse — 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… …   Investment dictionary

  • without recourse — (law and commerce) A qualified endorsement of a bill or promissory note indicating that the endorser takes no responsibility for non payment • • • Main Entry: ↑recourse * * * Finance a formula used to disclaim responsibility for future nonpayment …   Useful english dictionary

  • with recourse — record written on a promissory note that determines that the endorser is still a guarantor on the debt …   English contemporary dictionary

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