without recourse
The phrase "without recourse" is often used in financial and legal contexts to indicate that the issuer or seller does not assume responsibility for any future claims or liabilities related to the transaction.
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Definition
C1Finance
(technical)Indicates that the seller of a financial asset is not liable if the asset fails to perform as expected.
Example
- The note was sold without recourse, so the seller is not responsible if it defaults.
C1Legal
(formal)Means that the issuer does not assume responsibility for any future claims or demands related to the document or statement.
Example
- The contract was signed without recourse, protecting the issuer from future legal actions.
Similar
Terms that have similar or relatively close meanings to "without recourse":