recourse


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Related to recourse: Without recourse, have recourse to

recourse

1. the right to demand payment, esp from the drawer or endorser of a bill of exchange or other negotiable instrument when the person accepting it fails to pay
2. without recourse a qualified endorsement on such a negotiable instrument, by which the endorser protects himself from liability to subsequent holders
References in periodicals archive ?
If upheld, the ruling could create great uncertainty about the recourse provisions of thousands of current, terminated and troubled CMBS apartment loans worth more than $100 billion made over the last decade.
The majority of mortgage lenders insist on full recourse to the borrower for environmental problems associated with the property and a breach by the borrower of the environmental covenants and warranties.
1001-2 explains that if property is transferred to satisfy recourse debt, the transfer is divided into two transactions.
The joint September 5, 2002, interagency interpretive guidance discussing the appropriate applications of the November 2001, joint final rule on the treatment of recourse obligations, direct-credit substitutes, and residual interests in asset securitizations.
Recourse addresses this need with its covert security products.
However, the regulations under IRC section 1001 provide a unique rule for foreclosures of recourse debt.
Because you don't offer full recourse with a UNL structure, your contingent liabilities are less.
Since 1990, when the Federal Financial Institutions Examination Council (FFIEC) requested comments on the appropriate reporting and capital treatment of asset sales with recourse, the interagency task force has been devising a structure for applying risk-based capital to different levels of recourse risk.
3) FASB 77, "Reporting by Transferors fro Transfers of Receivables with Recourse," was issued in December 1983.
With the recent boom in the security industry, it's truly exciting to be involved with an industry leader such as Recourse Technologies," said Mr.
These recourse liabilities should be allocated to those partners who bear the economic risk of loss (Regs.
Such restriction should also be covered by a recourse carveback guaranty by each tenant in common.