What does recourse action mean?
What does recourse action mean?
To have recourse to a particular course of action means to have to do that action in order to achieve something. [formal] It enabled its members to settle their differences without recourse to war.
How do you use the word recourse?
Recourse sentence example
- Recourse was then had to protective legislation.
- He had no recourse against them yet.
- For the first time in his life Charles was now obliged to have recourse to diplomacy; and his pen proved almost as formidable as his sword.
What means recourse?
access or resort to a person or thing for help or protection: to have recourse to the courts for justice. a person or thing resorted to for help or protection.
What is recourse basis?
Recourse is the lender’s legal right to collect the borrower’s pledged collateral if the borrower does not pay their debt obligation. If a borrower defaults on a recourse loan, the lender might levy the borrower’s bank accounts or garnish wages in order to repay the debt balance.
What does it mean to have no recourse?
A phrase meaning that one party has no legal claim against another party. It is often used in two contexts: 1. In litigation, someone without recourse against another party cannot sue that party, or at least cannot obtain adequate relief even if a lawsuit moves forward.
What is my recourse?
Recourse is the lender’s legal right to collect the borrower’s pledged collateral if the borrower does not pay their debt obligation. Full recourse means that in addition to the collateral the lender can also seize other assets from the borrower to repay the debt.
What does without recourse mean?
In financial transactions, the words “without recourse” disclaim any liability to the subsequent holder of a financial instrument. Thus, endorsing a check and adding “without recourse” to the signature means that the endorser takes no responsiblity if the check bounces for insufficient funds.
Is legal action a threat?
A legal threat is a statement by a party that it intends to take legal action on another party, generally accompanied by a demand that the other party take an action demanded by the first party or refrain from taking or continuing actions objected to by the demanding party.
What does it mean to have a legal recourse?
Legal recourse. A legal recourse is an action that can be taken by an individual or a corporation to attempt to remedy a legal difficulty.
When to seek recourse in a property claim?
Their potential negligence may have put you in breach of your legal obligations as a landlord, and your tenant could seek recourse through a claim for damages. If you achieve something without recourse to a particular course of action, you succeed without carrying out that action.
What does it mean to take legal action?
An action that can be taken by an individual or a corporation to attempt to remedy a legal difficulty.
When to take legal action against a business?
In some cases, the customer may feel cheated and unappreciated. Therefore, it is always wise to solve any issues that customers present to prevent legal action being taken against the business. Legal recourse is an action taken by a corporation or an individual to remedy a legal difficulty.