non-recourse

adjective

non-re·​course
ˌnän-ˈrē-ˌkȯrs, -ri-ˈkȯrs
: 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 non-recourse mortgage
compare recourse

Dictionary Entries Near non-recourse

Cite this Entry

“Non-recourse.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/non-recourse. Accessed 23 Jul. 2024.

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