The phrase “without recourse” is used in the form of making a qualified or restrictive indorsement of a bill or note. By these words the iudorser signifies that, while he transfers his property iu tlie iustrumeut, he does not assume the responsibility of an indorser. See Lyons v. Fitzpat- rick, 52 La. Ann. 097, 27 South. 111.

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