Without Recourse
The company is not responsible to a third party if an account or financial instrument is dishonored by the debtor. The creditor's recourse is solely to the debtor's property. An example is when a company sells accounts receivable to a factor to obtain money. If the customer defaults, the factor cannot recover the amount due from the company.
Popular Real Estate Terms
Window having both screens and storm windows that can be easily interchanged according to seasonal needs. ...
Ownership in property by two or more persons at the same time. ...
Local governmental ordinance breaking down the country into districts that are restricted on how private property is to be constructed and used. It applies to the land and buildings. The ...
Stated rate of interest on the face amount of a loan or installment note. ...
Ability of the size of the land to accommodate the desired economic purpose. An example is having enough space to build a supermarket to meet the needs of the community. ...
Borrower's right to redeem his property by immediately paying off the loan balance and any related costs. ...
Documentation of zoning requirements and changes thereto. ...
See common law. ...
Act of being a conservator. ...
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