Over 30,000 business, finance, and investing definitions. A recourse is a legal agreement which gives the lender the right to pledged collateral in the event that the borrower is unable to satisfy the debt obligation. Resources definition, a source of supply, support, or aid, especially one that can be readily drawn upon when needed. Youll learn financial and marketing terms, common abbreviations from the business world, workplace expressions and much more. I have no other recourse than to inform the police. The right of an individual who is holding a commercial paper, such as a check or promissory note, to receive payment on it from anyone who has signed it if the individual who originally made it is unable, or refuses, to tender payment recourse is the right of the holder to recover against a prior endorser, who is secondarily liable. Recourse definition 1 the right of a holder in due course to demand payment from the maker or endorser of a negotiable instrument, or from prior endorsers, if the instrument is dishonored by the maker.
The statutory limitation of the recourse claims of enterprises remains unaffected as far as the newly manufactured products are resold to consumers in the course of business operations. Check out gingers spelling book and make sure you never confuse recourse and resource again. This phrase, used in making a qualified indorsement of a negotiable instrument, signifies that the indorser means to save himself from liability to subsequent holders, and is a notification that, if payment is refused by the parties primarily liable, recourse cannot be. If company x defaults, bank b can demand bank a fulfill the loan obligation. Translate nonrecourse loan to english online and download now our free translation software to use at any time.
Guided by an eminent team of editors and advisors, business equips everyone who works with the tools necessary to learn from yesterday and prepare for tomorrow. Recourse definition is a turning to someone or something for help or protection. Definition of have recourse to in the idioms dictionary. The related mortgage loan documents contain standard provisions providing for recourse against the related borrower, a principal of such borrower or an entity controlled by a principal of such borrower for damages sustained in connection with the borrowers fraud, material misrepresentation or, alternatively, intentional or misappropriation of any tenant.
Get clear, simple definitions from the british, american, and business dictionaries with just one search. Wotton and provide title, authors full name, and other details. This is a paperback dictionary containing over 35,000 entries and is ideal for students of business english. Business dictionary for android free download and software. Comprehensive business dictionary 20,000 word from all areas of business and finance b2b international glossary substantive glossary of business terms for international trade. Now customize the name of a clipboard to store your clips. Clipping is a handy way to collect important slides you want to go back to later.
We may conclude that he never had recourse to this simple experiment. Recourse definition, access or resort to a person or thing for help or protection. If a loan is with recourse, the lender has a the ability has the ability to fall back to the guarantor of the loan if the borrower fails to pay. If you achieve something without recourse to a particular course of action, you succeed. Oxford dictionary of business free download for windows 10. Recourse definition and meaning collins english dictionary. The purchaser acknowledges and agrees that all accounts receivable and other rights to payment from customers that will be transferred to the purchaser pursuant to this agreement will be transferred without any recourse to any seller, except i as contemplated by section 1. A recourse is a legal agreement which gives the lender the right to pledged collateral in the event that the borrower is unable. Triplex securitization can be characterized as the securitization of the business of an enterprise, in contrast with traditional securitization, which. Translate recourse in english online and download now our free translator to use any time at no charge. A loan on which the responsibility of a loan is transferred to an endorser or guarantor in the event of default by the borrower. Business terms dictionary contains 4600 of the most frequent but however most difficult to find terms, expressions and idioms used in field of.
Bernsteins glossary of bankruptcy terminology legal terminology of bankruptcy law. Easytouse free business glossary with over 20000 terms. Oxford dictionary of business is a product developed by mobile systems inc. Recourse definition of recourse by the free dictionary.
The act or an instance of turning to or making use of a person or thing for aid or in an effort to. Providing the maximum meaning of a word by combining the best sources with us. Legal right of a lender to seek repayment of the loan from the borrowers andor the guarantors unpledged personal property, in addition to the property pledged to the lender as collateral. All trademarks, registered trademarks, product names and company names or logos mentioned herein are the property of their respective owners. With full recourse financial definition of with full recourse. The act or an instance of turning to or making use of a person or thing for aid or in an effort to achieve something. Without recourse is a phrase that has several meanings.
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 nonperformance of the asset or the nonpayment of the instrument. Recourse is the right of the holder to recover against a prior endorser, who is secondarily. The worlds most comprehensive free online dictionary, thesaurus, and encyclopedia with synonyms, definitions, idioms, abbreviations, and medical, financial. In addition, business includes a comprehensive dictionary, an anthology of quotations, and an extensive source section covering nearly 200 topics from accounting to team building. With full recourse synonyms, with full recourse pronunciation, with full recourse translation, english dictionary definition of with full recourse. Having a dictionary at your fingertips can make producing good quality and accurate work easier, an electronic dictionary is a fast. Recourse meaning in the cambridge english dictionary. Download this dictionary resort in north american english, the term resort is used for a selfcontained commercial establishment which attempts to provide for most of a vacationers wants while remaining on the premises, such as food, drink, lodging, sports, entertainment. Recourse legal definition of recourse legal dictionary. Their system of dispute resolution avoids recourse to the courts. The description of business dictionary businessdictionary is a free easytouse free business glossary with over 30,000 definitions that span across critical businessrelated topics including entrepreneurship, management, small business, economics, human resources, recruiting, and corporate strategy. This site is not directly affiliated with mobile systems inc. In a general sense, without recourse pertains to when the buyer of a promissory note or other negotiable instrument assumes the risk of. Big business glossary very substantial business glossary.
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