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Pervizhuseyn Posted 14 years ago
English in Russia
recourse contract
please help translate the following:
a full commercial recourse contract
a full commercial recourse contract
Top answer
recourse refers to the right, in an agreement, to demand payment from the person who is taking on an obligation. But: A limited recourse contract only allows the Provider to take assets that are actually named in the original agreement. A non-recourse contract limits the Provider's rights to the particular asset being financed.
- recourse refers to the right, in an agreement, to demand payment from the person who is taking on an obligation.
- But: A limited recourse contract only allows the Provider to take assets that are actually named in the original agreement.
- A non-recourse contract limits the Provider's rights to the particular asset being financed.
- So, 'a full commercial recourse contract' is one that legally permits the Provider to get the very last cent the Receiver owes, with no restriction on assets that might need to be seized.
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1 Answers
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recourse refers to the right, in an agreement, to demand payment from the person who is taking on an obligation.
But:
A limited recourse contract only allows the Provider to take assets that are actually named in the original agreement.
A non-recourse contract limits the Provider's rights to the particular asset being financed.
So, 'a full commerc
But:
A limited recourse contract only allows the Provider to take assets that are actually named in the original agreement.
A non-recourse contract limits the Provider's rights to the particular asset being financed.
So, 'a full commerc
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