Define: Recourse

UK Accounting Glossary

Definition: Recourse



What is the dictionary definition of Recourse?

Dictionary Definition


  1. The act of seeking assistance or advice.
  2. obsolete A coursing back, or coursing again; renewed course; return; retreat; recurrence.
  3. obsolete Access; admittance.

Advertisement



Full Definition of Recourse


  1. Loan agreements: Legal right of a lender to seek repayment of the loan from the borrower’s (and/or the guarantor’s) unpledged personal property, in addition to the property pledged to the lender as collateral.
  2. Negotiable instrument: Legal right of the holder to demand and require payment from the drawer, maker, or endorser if the instrument (such as a check, draft, promissory note) is dishonoured.

Advertisement



Synonyms For Recourse


appeal, resort, remedy, resource, refuge


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/recourse/
Modern Language Association (MLA):
Recourse. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. March 28, 2020 https://payrollheaven.com/define/recourse/.
Chicago Manual of Style (CMS):
Recourse. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/recourse/ (accessed: March 28, 2020).
American Psychological Association (APA):
Recourse. PayrollHeaven.com. Retrieved March 28, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/recourse/

Definition Sources


Definitions for Recourse are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 8th January 2020.