non-recourse

adjective
non-re·​course | \ ˌnän-ˈrē-ˌkȯrs, -ri-ˈkȯrs \

Legal Definition of non-recourse

: 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

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Cite this Entry

“Non-recourse.” The Merriam-Webster.com Legal Dictionary, Merriam-Webster Inc., https://www.merriam-webster.com/legal/non-recourse. Accessed 13 December 2019.

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