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- DictionaryWithout recourse
- ▪ a formula used to disclaim responsibility for future nonpayment, especially of a negotiable financial instrument
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WITHOUT RECOURSE definition: a phrase written on a bill of exchange (= signed document promising to pay someone money) in order…. Learn more.
- Znaczenie Without Recourse, Definicja W Cambridge English Dictionary
without recourse definicja: a phrase written on a bill of...
- English (US)
WITHOUT RECOURSE meaning: a phrase written on a bill of...
- Znaczenie Without Recourse, Definicja W Cambridge English Dictionary
Without recourse is a legal term that refers to a situation where the party receiving payment or transferring a negotiable instrument, such as a promissory note or a check, assumes no liability or responsibility for any future claims or disputes related to the instrument.
Definition of "without recourse" A term used to denote that a person who signs a negotiable document, such as a check or a promissory note, is not liable if it is not paid or delivered ; How to use "without recourse" in a sentence. The bank handled the check on a without recourse basis, making the endorser free from any obligation.
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 mean that if payment of the instrument is refused, the endorser will not be responsible. An individual who endorses a check or promissory note using the phrase without recourse ...
Search for: 'without recourse' in Oxford Reference ». Words that appear on a bill of exchange to indicate that the holder has no recourse to the person from whom it was bought, if it is not paid. It may be written on the face of the bill or as an endorsement. If these words do not appear, the holder does have recourse to the drawer or endorser ...
2 days ago · A qualified endorsement on such a negotiable instrument, by which the endorser protects.... Click for English pronunciations, examples sentences, video.
