The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

NON-RECOURSE Definition & Legal Meaning

Definition & Citations:

A situation under a guarantee to the borrower or seller that an obligationor transaction is without recourse. This absolves the borrower or all blame in the event of loss or defect. The saleabilityfor accounting purposes or the transfer of ownership depends on the presence or absence of recourse.


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