Nonrecourse liability is any liability of a company classed as a nonrecourse debt under United States Treasury regulation section 1.704-2(b)(3).[1]
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nonrecourse — adj. Not personally liable; without liability. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008. nonrecourse adj. Pertaining to an obligation that cann … Law dictionary
Nonrecourse debt — Non recourse debt or a non recourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender/issuer can seize the… … Wikipedia
Factoring (finance) — This article is about finance. For other uses, see Factor (disambiguation). Corporate finance … Wikipedia
Cancellation of Debt (COD) Income — Part of a series on Taxation Taxation in the United States … Wikipedia
Commissioner v. Tufts — Supreme Court of the United States Argued November 29, 1982 Decided May 2, 1983 … Wikipedia
without recourse — Words that may be used by a drawer in signing a draft or check so as to eliminate completely the drawer s secondary liability. This phrase, used in making a qualified indorsement of a negotiable instrument, signifies that the indorser means to… … Black's law dictionary
Security interest — A security interest is a property interest created by agreement or by operation of law over assets to secure the performance of an obligation, usually the payment of a debt.[1] It gives the beneficiary of the security interest certain… … Wikipedia
recourse — To recur. The right of a holder of a negotiable instrument to recover against a party secondarily liable, e.g., prior endorser or guarantor. Therefore, if a prior endorser signs without recourse, he exempts himself from liability for payment, but … Black's law dictionary
Partnership taxation in the United States — The rules governing partnership taxation, for purposes of the U.S. Federal income tax, are codified as Subchapter K of Chapter 1 of the U.S. Internal Revenue Code (Title 26 of the United States Code). Partnerships are flow through entities. Flow… … Wikipedia
Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets … Wikipedia
