FACTOID # 83: More than half of Indonesia's primary school teachers are under 30years of age .
 
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Encyclopedia > Recourse note

A recourse note is a debt note held by a lender that entitles the lender to seek financial recourse upon the default of the borrower. The note is usually secured by a mortgage or a deed. This article does not cite any references or sources. ... In finance, default occurs when a debtor has not met its legal obligations according to the debt contract, e. ... Secured debt is that category of debt in which a creditor has been granted a portion of the bundle of rights to specified property. ... This article is about the legal mechanism used to secure property in favor of a creditor. ... An English deed written on fine parchment or vellum with seal tag dated 1638. ...


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  Results from FactBites:
 
OSCN Found Document:KUYKENDALL v. CALDWELL (656 words)
The plaintiff alleged that, if the words "without recourse" were written in the contract, the same was done after it had been signed by Vennum, Bougher, and Kuykendall and without the knowledge or consent of the defendant in error.
The principal point in controversy at the trial of the cause was whether the contract between the plaintiff and defendant provided for the plaintiff in error's indorsement of the note to be delivered, or whether the contract provided for plaintiff in error's indorsement "without recourse" on the note.
"Notes to be Filed--Admissible as Evidence.--The shorthand reporter in any court of record shall file his notes taken in any case with the clerk of the court in which the cause was tried.
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