nonrecourse

nonrecourse, adj. Of or relating to an obligation that can be satisfied only out of the collateral securing the obligation and not out of the debtor’s other assets. [Cases: Bills and Notes 44; Secured Transactions 227, 240. C.J.S. Bills and Notes; Letters of Credit § 11; Secured Transactions §§ 152, 164–166, 168–169, 172, 174–175, 180–183.]

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词条贡献者

法律翻译Jessie，在一家亚洲一流律师事务所的北京办公室担任全职法律翻译，擅长翻译有关港口、铁路、公路与海运的法律文件。