How Do You Spell WITHOUT RECOURSE?
Pronunciation: [wɪðˌa͡ʊt ɹɪkˈɔːs] (IPA) 
Correct spelling for the English word "without recourse" is [wɪðˌa͡ʊt ɹɪkˈɔːs], [wɪðˌaʊt ɹɪkˈɔːs], [w_ɪ_ð_ˌaʊ_t ɹ_ɪ_k_ˈɔː_s] (IPA phonetic alphabet).
Pronunciation: [wɪðˌa͡ʊt ɹɪkˈɔːs] (IPA)
Correct spelling for the English word "without recourse" is [wɪðˌa͡ʊt ɹɪkˈɔːs], [wɪðˌaʊt ɹɪkˈɔːs], [w_ɪ_ð_ˌaʊ_t ɹ_ɪ_k_ˈɔː_s] (IPA phonetic alphabet).
Without recourse is a legal term that refers to a situation where a party (usually a lender or holder of an instrument) does not have any legal claim or right to demand repayment or seek remedy from another party in the event of default or non-payment. It essentially means that the party assuming the risk of non-payment or default cannot pursue any further legal action against the debtor after the transaction is made.
When a transaction or agreement is made without recourse, the party accepting this condition assumes the entire risk associated with the transaction. By doing so, they waive their rights to seek any legal remedies in case of default or non-payment. This type of arrangement is commonly seen in certain financial transactions, such as the sale or assignment of negotiable instruments like promissory notes, letters of credit, or checks.
The term without recourse is often stated explicitly in contracts or instruments to ensure clarity and understanding among the involved parties. It serves to limit the liability of the party transferring or assigning an instrument and shifts the risk of non-payment or default onto the recipient. This relieves the transferor from any future claims, demands, or legal actions relating to the underlying transaction, placing the responsibility solely on the recipient or party assuming the risk without recourse.
The word "without recourse" has its origins in the Old French word "recourre", which means "to run back" or "to go back". It is derived from the Latin word "recurrere", which is a combination of "re-" (meaning "back") and "currere" (meaning "to run").
In legal terms, "without recourse" refers to a situation where a party does not have the right to seek repayment or recovery from another party in case of default. This phrase indicates that the issuer of a negotiable instrument, such as a promissory note or a check, is not liable for any non-payment or any other breach of obligation. It offers protection to the issuer by disallowing the holder of the instrument from seeking legal action against them.
