Recourse Note - Law Dictionary Search Results
Home Dictionary Name: recourse notenon-recourse note
non-recourse note see note ...
recourse note
recourse note see note ...
recourse
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. ...
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...
Noting
Noting, when a promissory note or bill of exchange has been dishonoured by non-acceptance or non-payment, the holder may cause such dishonour to be noted by a notary public upon the instrument, or upon a paper attached thereto, or partly upon each.Such notes must be made within a reasonable time after dishonour, and must specify the date of dishonour, the reason, if any, assigned for such dishonour, or if the instrument has not been expressly dishonoured, the reason why the holder treats it as dishonoured, and the notary's charges. [Negotiable Instruments Act, 1881 (26 of 1881), s. 99]--The making of a memorandum or note on a bill of exchange by a notary which states that he has presented the bill for payment or acceptance, and that it has been dishonoured. It is usual, in cases of non-payment of bills of exchange, for London bankers, after six o'clock on the day upon which the bills fall due, to cause inland bills to be noted. The duty of a notary in protesting a bill consists in thre...
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....
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 ...
Bank-notes, or Bank-bills
Bank-notes, or Bank-bills, written or printed promises for money, to be paid by a banking company. They are uniformly made payable on demand. They are not like bills of exchange, mere securities or documents for debt, nor are they so esteemed, but are treated as money in the ordinary course and transactions of business by the general consent of mankind, and, on payment of them, whenever a receipt is required, it is always given as for money, not as for securities or notes. Per Lord Mansfield, Miller v. Race, (1758) 1 Burr at p. 457. Bank of England notes were made a legal tender by the 5th section of the Bank of England Act, 1833 (3 & 4 Wm. 4, c. 98), as amended, everywhere except at the Bank and its branches.One-pound notes and ten-shilling notes are now issued by the Bank of England, under the authority of the (English) Currency and Bank Notes (Amendment) Act, 1928, and made a legal tender for a payment of any amount. The notes first issued were found to be easy to forge, and they we...
Bought and Sold Notes
Bought and Sold Notes. It is no longer the custom for brokers who have succeeded in making a contract to make any entry in their books save for their own private information, and it is now almost the universal practice to regard the bought and sold notes as the proper evidence of the contract. The broker sends to the seller a 'sold note' and to the buyer a 'bought note,' these being now the usual terms, though formerly their use was sometimes the converse. When each note discloses the name of both parties to the transaction, each is a complete memorandum of the bargain. When each note only discloses the name of one party, the two may be treated as one memorandum. The bought and sold notes are deemed to constitute a single document, and if they differ materially they are nullities unless one has been assented to by the parties as containing the terms of the contract.Every contract note for or relating to the sale or purchase of any stock or marketable security must be stamped when the v...
Currency and Bank Notes Acts, 1914 and 1928 (English)
Currency and Bank Notes Acts, 1914 and 1928 (English). The 1914 Act and the Amendment Act, 1914 (4 & 5 Geo. 5 Contract Act, 1872 -. 14, 72), wee passed on the outbreak of the war with Germany, to authorize the issue of currency notes, and to make provision with respect to the note issue of banks. Under these Acts the Tresury issued currency notes for 1l., and 10s. repsectively, thenotes beinglegal tender for a payment of any amount. The 1928 Act (18 & 19 Geo. 5, c. 13), repealed the 1914 Acts (except sub-s. (5) of s. 1 and s. 5 of c. 14, enacting that currency notes are to be deemed banknotes, valuable securities and current coin for certain special purposes such as the Forgery (English) Act, 191, the Larceny Act, 1861, and other offences and the (English) Truck Acts. The 1928 Act transferred the currency note issue to the Bank of England and enated that currency notes should be deemed to be banknotes in all enactments relatingto banknotes. The (English) Gold Standard Act, 1925 (15 & 1...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial