recourse Hear it!

recourse Definition

re·course (rē′kôrs′, ri kôrs′)

noun

  1. a turning or seeking for aid, safety, etc. to have recourse to the law
  2. that to which one turns seeking aid, safety, etc. one's last recourse
  3. Commerce, Law the right to demand payment from the maker or endorser of a negotiable instrument, as a bill of exchange: usually in without recourse, without obligation to pay (added by the endorser to a bill of exchange to escape possible liability)

Etymology: ME recours < OFr < L recursus, a running back: see re- & course

recourse Synonyms

recourse

n.

appeal, support, refuge; see aid 1, resort 1.

recourse Law Definition

n

A course of action for enforcing a claim; the right of the holder of a note to demand full payment of that note if the terms are not fully honored; the right to be repaid from the borrower’s or cosigner’s personal assets in excess of the collateral.

recourse Usage Examples

Converse of object

  • have: The Sheriffs in their turn had frequent recourse to the Mayor's Court.
  • seek: Provide users with information on how to seek recourse if they encounter problems.
  • avoid: It was the only way to avoid recourse to force.
  • take: Your best choice is to take recourse of the contrast disks.
  • require: It is a card of balance and harmony; if there is imbalance, the correction may require recourse to the law.
  • allow: This initial written permission stage would allow recourse to an oral hearing if required by the defendant.

Preposition: against

member: Presumably, such persons then know that recourse against LLC members is limited.

Converse of subject

explain: The few cases that are better documented can be explained by recourse to the mechanisms of everyday physics.

Adjective modifier

  • frequent: The Sheriffs in their turn had frequent recourse to the Mayor's Court.
  • ultimate: If that fails then the only ultimate recourse would be to Judicial Review in the High Court.
  • constant: That, constant overwork, constant recourse to adrenaline rather than sleep, meant that power was an undiluted additive.
  • legal: She saw little legal recourse for the victims of abuse.
  • little: She saw little legal recourse for the victims of abuse.
  • automatic: Those who had advocated the automatic recourse to the use of force had agreed to afford Iraq a final chance, he said.

Modifies a noun

  • factoring: When the risk of bad debts remains with you the service is referred to as recourse factoring.
  • debt: If a loan to an LLC does not qualify as recourse debt, the tax rules call it " non-recourse debt.
  • variable: Recourse variables would represent the liquidation ( selling ) of assets to meet liabilities.
  • agreement: Under a recourse agreement, your company bears the risk of bad debts; with a non-recourse agreement, the factor absorbs any losses.
  • financing: The aim is to develop financial models and optimum transaction and contractual structures that will facilitate the raising of limited recourse project financing.

Preposition: for

funding: The first recourse for funding should be to your own institution ( where applicable ).