Without recourse to me I was issued to citations upon which I cited without recourse. Learn more. Find out how loans without recourse work and if they're the better choice. In financial transactions, the words "without recourse" disclaim any liability to the subsequent holder of a financial instrument. RECOURSE definition: 1. The businessman signed the note without recourse, safeguarding himself from the risk of nonpayment. How to use "without recourse" in a sentence The bank handled the check on a without recourse basis, making the endorser free from any obligation. Alternatively, in financial transactions, the words “without recourse” in an agreement indicate that the party Sans Recours means "without recourse" (to me). The effect of this indorsement is, to make the indorser free from all liability to any subsequent holder. Without recourse is a legal term that refers to a situation where the party receiving payment or transferring a negotiable instrument, such as a promissory note or a check, assumes no liability or responsibility for any future claims or disputes related to the instrument. In this case, the company needs to make the factoring receivables journal entry whether the factoring receivables is with recourse or without recourse. the act of resorting to a person, course of action, etc, in difficulty or danger (esp in the phrase have recourse. ‘with recourse’ in legal and financial transactions. Without Recourse In litigation, a determination that one party has no legal claim against another party. What you are referring to is an endorsement on the Note* It says "Pay to the order of Without recourse Washington Mutual Bank PA" then is signed with name Cynthia A Riley, Vics President. In financial transactions, without recourse disclaims any liability to the subsequent holder of a financial instrument. Jun 12, 2008 · Without Recourse: A note sold “without recourse” means that the note seller doesn’t have to be on the hook for the money if the payments stop coming in. Source for information on Without Recourse: West's Encyclopedia of American Law dictionary. B, in turn pays off a debt to C by endorsing the check and adding the without recourse phrase. This advice was given to me by a third-party prior. Someone without recourse against another party cannot sue that party, or at least cannot obtain adequate relief even if a lawsuit moves forward and is resolved in his favor. It is a phrase that often appears in contracts, loan agreements, and financial instruments, yet its implications are not always fully understood. In employment, at-will employment is a term that refers to contractual relationships in which an employee can be fired or terminated from their job by their employer without cause. Words that appear on a bill of exchange to indicate that the holder has no recourse to the person from whom it was bought, if it is not paid. Learn how to reserve your legal options while acknowledging contract terms effectively. ” If the bank refuses to cash the check for Sally, she must go to Factoring Receivables Journal Entry Overview In business, the company may need to sell its receivables which is called factoring receivables if it needs early cash for its business operation and cannot wait to collect all receivables. Thus, endorsing a check and adding "without recourse" to the signature means that the endorser takes no responsibility 4 senses: 1. By understanding this concept and its implications, you can make informed decisions when dealing with negotiable instruments and ensure that your transactions are properly protected. / @thebadwolf Thew new site is www. Learn how signing without recourse can protect you from liability and help reclaim your rights in the journey toward financial freedom and sovereignty. com WITHOUT RECOURSE definition: a phrase written on a bill of exchange (= signed document promising to pay someone money) in order…. The mortgage seller must endorse the note in blank and without recourse. However, I would like to know how this affects contracts and other legal documentation. The meaning of RECOURSE is a turning to someone or something for help or protection. 7 (a)), the original of the Note must be delivered pursuant to the requirements of this chapter; and the Note must bear the following endorsement signed by the Seller's Find 48 different ways to say WITHOUT RECOURSE, along with antonyms, related words, and example sentences at Thesaurus. Define Without Recourse. When this clause is included, the party transferrin WITHOUT RECOURSE meaning: a phrase written on a bill of exchange (= signed document promising to pay someone money) in order…. With Prejudice," many of our readers See full list on investopedia. BlackSite32. In all cases, the company records the cash received, reduces its accounts receivable, and accounts for the factoring fee. What is without recourse? Meaning of without recourse as a legal term. In a simple example, Jane writes a check to Jim. Jim endorses the check and signs it over to Sally, with a note indicating that he makes the transfer “without recourse. Apr 1, 2025 · The concept of "without recourse" is an important aspect of negotiable instruments that is designed to minimize risk and provide protection for all parties involved. (b) If an indorsement states that it is made "without recourse" or otherwise disclaims liability of the indorser, the indorser is not liable under subsection (a) to pay the instrument . " They said that the bank could not go back and take that money form t Define Without recourse. For example: PAY TO THE ORDER OF WITHOUT RECOURSE LENDER’S NAME (Authorized Signature) NAME OF AUTHORIZED SIGNER TITLE OF AUTHORIZED SIGNER May 31, 2024 · Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription. The obligation of the indorser is owed to a person entitled to enforce the instrument or to a subsequent indorser who paid the instrument under this section. This endorsement limits the liability of the indorser. May 16, 2024 · In a financial setting, “without recourse” means a buyer is assuming liability for a purchase, with the creditor washing her hands of any credit risk. Example: I have a 100,000 AR balance that I sell to a third party. words sometimes added to the indorsement of a negotiable instrument to protect the indorser from liability to the indorsee and subsequent holders. If you have purchased a print title that contains an access token, please see the token for information about how to register your code. Please subscribe or login to access full text content. Will I be released from liability? What happens next? Sep 11, 2024 · The journal entries for factoring accounts receivable is vary depending on whether it’s with recourse, without recourse, or if there’s an advance involved. Legal Terms Dictionary without recourse - Meaning in Law and Legal Documents, Examples and FAQs The term 'without recourse' means that if you sell something, like a check or a loan, you are not responsible for any problems that might come up later. 'with recourse' in legal and financial transactions. This article delves into the meaning, applications, and implications of this term, shedding light on its significance in various contexts such as financing, sales agreements, banking, real estate, and more. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription. In the world of finance and law, the term “without recourse” (or sans recours in French) carries significant weight. Definition of without recourse in the Legal Dictionary - by Free online English dictionary and encyclopedia. Jan 10, 2020 · 'Recourse' in a sentence: The dispute was settled without recourse to law. Dec 22, 2019 · What Does Without Recourse Mean - Understand What Does Without Recourse Mean, Contract Law, its processes, and crucial Contract Law information needed. The "WITHOUT RECOURSE" clause serves to limit or eliminate the liability of a party, typically the endorser or assignor, in a financial transaction. ” I don’t want to take a big discount and then have to guarantee the note payments as well. Mar 15, 2024 · Explore the intricacies of “without recourse” in financial transactions. Mar 5, 2014 · I know this applies in general to copywrite laws. This termination can be without cause just so long as the reason for termination isn’t illegal. WITHOUT RECOURSE definition: a qualified endorsement on such a negotiable instrument, by which the endorser protects | Meaning, pronunciation, translations and examples in American English Jun 4, 2024 · Understand your rights under UCC 1-308 with our comprehensive guide. The sales agreement signed by the buyer and The Affiant, (you true name) having attained the age of majority, competent to testify, a self-realized being, a free man/woman upon the land, my yes be yes, my no be no, do herby solemnly state that the truths and facts herein are of firsthand personal knowledge, and true, correct, complete, certain, and not misleading, so help me God. Aug 3, 2004 · The last endorsement on the note should be that of the mortgage seller. Click for more definitions. without recourse in A Dictionary of Accounting (4) Length: 74 words without recourse (to me: sans recours) in Australian Law Dictionary Length: 21 words View all reference entries » View all related items in Oxford Reference » Search for: 'without recourse' in Oxford Reference » At our monthly security council meeting, someone said that their bank has seen two deposits made in the ATM and on the back of the check in very small writing, under the endorsement, it read "without recourse. What can you be fired for? Nov 8, 2012 · Excuse me. Aug 19, 2020 · Without recourse For each Mortgage delivered to Freddie Mac (except for Mortgages sold with recourse under the Guarantor or MultiLender Swap program, pursuant to Section 6201. Aug 26, 2022 · Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription. The "without recourse" endorsement negates the general endorser's obligation under section 3-415 of the UCC. An example of a without recourse note is a personal check written by A, the maker, to B, the payee. Jan 10, 2025 · Learn your rights and options if you’ve been recorded without consent, including legal remedies and steps for content removal. Jul 25, 2025 · With recourse or without recourse, these words hold the power to change the landscape of every agreement you sign. WITHOUT RECOURSEA phrase used by an endorser (a signer other than the original maker) of a negotiable instrument (for example, a check or promissory note) to mean that if payment of the instrument is refused, the endorser will not be responsible. Sep 20, 2024 · Discover the importance of signing 'without recourse' vs. If I’m the note seller, I would probably want to sign “without recourse. Without recourse synonyms, Without recourse pronunciation, Without recourse translation, English dictionary definition of Without recourse. What does without recourse mean in law? When it comes to sales, "with recourse" is a legal term that means with subsequent liability, and "without recourse" means without subsequent liability. Aug 19, 2024 · Does endorsing a ticket and adding without recourse as a part of the signature release me from liability? I was recently pulled over by the local county sheriffs department. Oct 29, 2023 · Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription. com. But it doesn't affect the transfers and presentment warranties in sections 3-416, 3-417, 4-207 and 4-208. In normal language you would also say " no responsibility " instead of " without recourse " Jan 23, 2025 · Explore the implications and applications of “without recourse” in legal and financial contexts, enhancing your understanding of its practical significance. Since our previous blog post on "Overstanding Signing Without Prejudice vs. using something or someone as a way of getting help, especially in a difficult or dangerous…. May 14, 2024 · Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription. It may be written on the face of the bill or as an endorsement. High quality example sentences with “without further recourse” in context from reliable sources - Ludwig, your English writing platform Mar 29, 2025 · What is no recourse? "No recourse" is a legal term used in contracts and financial agreements that limits the ability of one party to seek compensation or take legal action against another party in certain circumstances. Without recourse — Without the lender having any right to seek payment or seize assets in the event of nonpayment from anyone other than the party (such as a special purpose entity) specified in the debt contract. com!! 5000 Subscribers! What da bizness isMy channel is 100% about truth of a product, service or my personal experiences. Someone completely without recourse cannot sue anyone for an alleged injury, or cannot obtain any relief even if lawsuits are filed. Does this mean it is a without recourse note and they cant get a deficiency judgment? High quality example sentences with “no further recourse to” in context from reliable sources - Ludwig, your English writing platform recourse meaning, definition, what is recourse: something that you do to achieve somethi: Learn more. 4 meanings: 1. If these words do not appear, the holder does have recourse to the drawer or endorser if the bill is dishonoured. the act of resorting to a person, course of action, etc, in difficulty or danger (esp in the phrase have. See also with recourse. Bankers, investors, and entrepreneurs navigate these terms with the precision of chess players, because one wrong move may shift fortunes or shield families. If you like the info . As someone who has spent years navigating the complexities of finance and accounting, I […] Definition of without recourse Without Recourse The phrase "without recourse" is a legal term indicating that one party cannot hold another party legally responsible or seek compensation from them for a particular matter. In a no recourse agreement, if a specific event occurs (such as a default With or without recourse is just a term to define whether that third party can come back to you if they can’t collect the AR balance they purchased. Discover the importance of signing ‘without recourse’ vs. Without recourse endorsement can protect the endorser from unforeseen financial liabilities. How to use recourse in a sentence. Does this change a contract? If so, would it be better to write "Without Prejudice" above the signature? For example; I used this procedure when signing documents to buy a house and the lender would not accept this as they stated it changed the contract. Jun 1, 2021 · Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription. means, with reference to any obligation or liability, any obligation or liability for which the obligor thereunder is not liable or obligated other than as to its interest in a designated asset or assets only, subject to such exceptions to the non-recourse nature of such obligation or liability (such as, but not limited to, fraud, misappropriation, misapplication and Apr 3, 2025 · Debt can be either with or without recourse. hen ewfi vfeko fljiur chvo atgfdy asrraw ehou usmk jniysj ngdd xtj wlnrfwm lizak ktcp