What is the definition of Nonrecourse debt? | Dictionary.net

NONRECOURSE DEBT

\nˌɒnɹɪkˈɔːs dˈɛt], \nˌɒnɹɪkˈɔːs dˈɛt], \n_ˌɒ_n_ɹ_ɪ_k_ˈɔː_s d_ˈɛ_t]\

Definitions of NONRECOURSE DEBT

1910 - Black's Law Dictionary (2nd edition)

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In the event that a borrower defaults, this type of loan limits the lender's power to take possession of the borrower's property.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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