The-definition.com

Definition

Recourse

Recourse is the right of a holder of a Bill of Exchange to demand payment from a person rather than the acceptor. Bills may be endorsed “without recourse” in which case the endorser does not become liable to any holder.


Recourse in the context of a sale of a loan by a bank to investors, they have the right

to call the guarantee from the bank should the borrower be unable to meet its obligations

Webster Dictionary Meaning

1. Recourse
- A coursing back, or coursing again, along the line of a previous coursing; renewed course; return; retreat; recurence.
- Recurrence in difficulty, perplexity, need, or the like; access or application for aid; resort.
- Access; admittance.
2. Recourse
- To return; to recur.
- To have recourse; to resort.
Share it:  Cite

More from this Section

  • Service bureau
    Service bureau is a firm that processes clients’ data on its own computer (or one that ...
  • Bottom-up
    Bottom-up is a management style that de-emphasizes the significance of economic and market ...
  • Earned premiums
    Earned premiums actually earned during the accounting period as contrasted with premiums ...
  • Bank profitability
    Bank profitability is an important indicator of bank performance, it represents the rate ...
  • Certificate of Origin
    Certificate of Origin is the certificate given by the exporter certifying the origin of ...