Law Dictionary

non–recourse

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

Legal Definition of non–recourse

  1. :  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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