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A legal recourse is an action that can be taken by an individual or a corporation to attempt to remedy a legal difficulty. A lawsuit if the issue is a matter of civil law Contracts that require mediation or arbitration before a dispute can go to court
Recourse debt or recourse loan is a debt that is backed by both collateral from the debtor, and by personal liability of the debtor. [2] This type of debt allows the lender to collect from the debtor and the debtor's assets in the case of default, in addition to foreclosing on a particular property or asset as with a home loan or auto loan.
“I, or anyone who accepts this program, would have no recourse available.” “Yes, that’s correct,” replied Jacqueline Clay, the department’s chief human resources officer.
A non-recourse loan is secured by the value of property (usually real estate) owned by the debtor. However, unlike other loans, which oblige the debtor to repay the amount borrowed, a non-recourse loan is fully satisfied merely by the transfer of the property to the creditor, even if the property has declined in value and is worth less than the ...
The Trump administration's rapid dismantling of the U.S. consumer protection watchdog will have broad implications for consumers with credit cards, mortgages and bank accounts, leaving Americans ...
OpenAI and the White House have accused DeepSeek of using ChatGPT to cheaply train its new chatbot. Experts in tech law say OpenAI has little recourse under intellectual property and contract law.
Commissioner v. Tufts, 461 U.S. 300 (1983), was a unanimous decision by the United States Supreme Court, which held that when a taxpayer sells or disposes of property encumbered by a nonrecourse obligation exceeding the fair market value of the property sold, the Commissioner of Internal Revenue may require him to include in the “amount realized” the outstanding amount of the obligation ...
U.S. government employees who lose their jobs in President Donald Trump's ongoing purge of the federal workforce and bring legal challenges face an uphill battle, with potentially little recourse ...