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nonrecourse

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adjective non·re·course \ˈnän-ˈrē-ˌkȯrs, -ri-ˈ\

Definition of nonrecourse

  1. :  being or based on an agreement in which the lender has no right of recourse to the borrower's assets beyond stated limits <a nonrecourse note> <a nonrecourse loan>



1926

First Known Use of nonrecourse

1926


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