Recourse - Law Dictionary Search Results
Home Dictionary Name: recourserecourse
recourse 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 demand payment or compensation ;specif : the right to demand payment from the endorser or drawer of a negotiable instrument see also recourse note at note compare non-recourse NOTE: Under Article 3 of the Uniform Commercial Code, the phrase without recourse on a negotiable instrument limits the liability of the endorser or drawer. If an endorsement states that it is made without recourse, the endorser is not liable to pay, subject to various conditions, if the instrument is dishonored. Similarly, if a draft states that it is drawn without recourse, the drawer is not liable to pay, subject to various conditions, if the draft is dishonored, provided that it is not a check. ...
non-recourse
non-recourse : of, relating to, or being a debt whose satisfaction may be obtained on default only out of the particular collateral given and not out of the debtor's other assets [a mortgage] [a creditor] compare recourse ...
non-recourse note
non-recourse note see note ...
recourse note
recourse note see note ...
Without recourse to me
Without recourse to me [sans recours], a phrase used by an indorser of a bill or note, which protects him from liability, Byles on Bills. See SANS RECOURS....
note
note 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 [kÄ g-nō-vit-, kōg-] : a note in which the maker acknowledges the debt and authorizes the entry of judgment against him or her without notice or a hearing : a note containing a confession of judgment collateral note : a note secured esp. by a collateral mortgage and pledged to secure an obligation of which a hand note usually serves as evidence demand note : a note payable on demand compare time note in this entry floating rate note : a negotiable note that yields an indexed and periodically adjusted variable rate of interest called also floater hand note : a note for an obligation secured by a collateral note non-recourse note : a note whose satisfaction upon default may be obtained only out of the collateral securing it promisso...
Material resources
Material resources, 'Material resources' is enshrined in art. 39(b) are wide enough to cover not only natural or physical resources but also movable or immovable properties. The mere fact that the resources are material will make no difference in the concept of the word 'resources'. Black's Law Dictionary defined the word recourses thus: Money or any property that can be converted to meet needs; means of raising money or supplies; capabilities of raising wealth or to supply necessary wants. The mere fact that the resources are material will make no difference in the concept of the word recourse. In Stroud's Judicial Dictionary (Vol. 3) at page, 1634, the word material is defined thus: Materials tools or implements, to be used by such artificer in this trade or occupation, if such artificer be employed in mining; wooden props or 'sprags' though neither 'tools or implements' were 'materials' within these words. 'Material' includes a painter's bucket of distemper and brush. In Webster's T...
Restaur
Restaur, means the recourse that insurers (especially marine underwriters) have against each other according to the date of their insurance; the recourse that one has against a guarantor or other person under a duty to indemnify Black's Law Dictionary, 7th Edn., p. 1315....
endorsement
endorsement also in·dorse·ment n 1 : the act or process of endorsing 2 : an inscription (as a signature or notation) on a document or instrument ;esp : an inscription usually on the back of a negotiable instrument that transfers or guarantees the instrument blank endorsement : an endorsement (as a signature) of a negotiable instrument that does not name a transferee and that makes the instrument payable to bearer called also endorsement in blank qualified endorsement : an endorsement of a negotiable instrument with words (as “without recourse”) that limit or qualify the endorser's liability restrictive endorsement : an endorsement of a negotiable instrument with words (as “for deposit only”) that limit the further negotiation of the instrument NOTE: A restrictive endorsement does not prevent further negotiation of the instrument under the Uniform Commercial Code. spe·cial endorsement : an endorsement of a negotiable instrument with wo...
Recourse
A coursing back or coursing again along the line of a previous coursing renewed course return retreat recurence...
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