With recourse

With recourse,

Definition of With recourse:

  1. With subsequent liability. As a legal term it signifies that a seller (and not the buyer) of an asset, or the drawer (and not the holder) of a negotiable instrument, is assuming the risk of non-performance of the asset or the non-payment of the instrument. Written also as with full recourse. See also without recourse.

Meaning of With recourse & With recourse Definition