The
Definition Of

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