recourse

(redirected from recourses)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia.
Related to recourses: resources

Recourse

The right of an individual who is holding a Commercial Paper, such as a check or promissory note, to receive payment on it from anyone who has signed it if the individual who originally made it is unable, or refuses, to tender payment.

Recourse is the right of the holder to recover against a prior endorser, who is secondarily liable. When a check is endorsed without recourse, it signifies that the endorser will not be liable to pay in the event that payment is refused.

recourse

n. the right to demand payment to the writer of a check or bill of exchange. (See: check, bill of exchange)

recourse

noun avail, benefit, confugere, correccive device, corrective measure, device, disposal, legal redress, means, redress, remedy, resource, se applicare, se conferre
Foreign phrases: Electa una via, non datur recursus ad alleram.He who has chosen one course cannot have reeourse to another.
See also: alternative, option, tool

recourse

the right to demand payment, especially from the drawer or indorser of a BILL OF EXCHANGE or other NEGOTIABLE INSTRUMENT when the person accepting it fails to pay. Hence, without recourse is a qualified indorsement on such a negotiable instrument, by which the indorser protects himself from liability to subsequent holders.
References in classic literature ?
The weaker States or confederacies would first have recourse to them, to put themselves upon an equality with their more potent neighbors.
In determining the extent of information required in the exercise of a particular authority, recourse then must be had to the objects within the purview of that authority.
This must not be," I thought I heard him say: "either he must listen to reason, or I must have recourse to the last resource of civilization.
After bruising myself severely, much to the amusement of the Martians, I again had recourse to creeping, but this did not suit them and I was roughly jerked to my feet by a towering fellow who had laughed most heartily at my misfortunes.