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LSDefine

Simple English definitions for legal terms

with recourse

Read a random definition: INS v. Cardoza-Fonseca

A quick definition of with recourse:

Term: WITH RECOURSE

Definition: When someone signs their name on a piece of paper, they might write "with recourse" next to it. This means that if the person who gets the paper can't get paid, they can go back to the person who signed it and ask them to pay instead. It's like a backup plan for the person who gets the paper.

A more thorough explanation:

Definition: With recourse means that the person who endorses a financial instrument, such as a check or promissory note, remains liable to the holder for payment. This means that if the instrument is not paid, the endorser can be held responsible for the debt.

  • When John endorsed the check with recourse, he agreed to be responsible for the payment if the check bounced.
  • The bank required the borrower to sign the loan agreement with recourse, so that they could go after the borrower if they defaulted on the loan.

These examples illustrate how with recourse works in practice. By agreeing to endorse a financial instrument with recourse, the endorser is taking on additional risk and responsibility for the debt. This can be beneficial for the holder of the instrument, who has more assurance that they will be paid, but it can also be risky for the endorser, who may be held liable for a debt they did not incur.

with power | with reserve

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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