nonrecourse loan

A secured loan that allows the lender to attach only the collateral, not the borrower’s personal assets, if the loan is not repaid. [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

法律翻译文楷，毕业于新加坡知名法学院，专注翻译各类与合并许可有关的法律文件。