Define: Without Recourse

UK Accounting Glossary

Definition: Without Recourse


Quick Summary of Without Recourse


A qualified endorsement on such a negotiable instrument, by which the endorser protects himself or herself from liability to subsequent holders.



What is the dictionary definition of Without Recourse?

Dictionary Definition


Latin: sans recours

This appears on a bill of exchange to indicate that the holder has no recourse to the person from whom it was acquired, if it is not paid. This term may be written on the face of the bill of exchange or as an endorsement.

If “Without Recourse/Sans Recours” does not appear on a bill of exchange, then the holder does have recourse to the drawer (or endorser) if the bill is dishonoured upon maturity.


Full Definition of Without Recourse


Without recourse is a phrase that has several meanings.

When it comes to sales, “with recourse” is a legal term that means with subsequent liability, and “without recourse” means without subsequent liability. The sales agreement signed by the buyer and seller determines whether a sale is a recourse sale or a without recourse sale and thereby determines the respective rights and responsibilities of both parties.



Examples of Without Recourse in a sentence


They tried to settle the dispute without recourse to the courts.

Its hoped that the dispute will be settled without recourse to litigation.

Often, costing and pricing decisions can often be made without recourse to complicated records.

When a nominated bank has a deferred payment undertaking; it is without recourse to the beneficiary.



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/without-recourse/
Modern Language Association (MLA):
Without Recourse. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 22, 2019 https://payrollheaven.com/define/without-recourse/.
Chicago Manual of Style (CMS):
Without Recourse. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/without-recourse/ (accessed: July 22, 2019).
American Psychological Association (APA):
Without Recourse. PayrollHeaven.com. Retrieved July 22, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/without-recourse/

Definition Sources


Definitions for Without Recourse are sourced/syndicated from:

  • Oxford Dictionary Of Economics
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 29th January 2019.