recourse loan

A loan that allows the lender, if the borrower defaults, not only to attach the collateral but also to seek judgment against the borrower’s (or guarantor’s) personal assets. [Cases: Secured Transactions 227, 240. C.J.S. Secured Transactions §§ 152, 164–166, 168–169, 172, 174–175, 180–183.]

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词条贡献者

译员Joanne，亚洲顶尖法学院国际贸易专业，专注翻译各种与复杂国际贸易有关的法律文件。