Recourse Definition

GLOSSARY

Published by a ��Ӱ�� Banking & Finance expert

What does Recourse mean?

The right to require a party to repurchase a receivable for a defined repurchase price.

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Invoice discounting and factoring

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Modern slavery—key performance indicators

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Franchise business sale agreement

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Specimen statement of issues for a first appointment—financial remedy application

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Does the enjoyment of income from a non-matrimonial asset not, in itself, mean that the asset becomes matrimonial in nature?

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Where a guarantor guarantees the obligations of the tenant under a lease for the term which expressly includes the contractual term and any period of holding over under the Landlord and Tenant Act 1954, on the renewal of the lease will the guarantor remain liable under the renewal lease or will the guarantor need to be a party to and execute the new lease in order to guarantee the obligations of the tenant under the renewal lease?

Where a guarantor guarantees the obligations of the tenant under a lease for the term which expressly includes the contractual term and any period of holding over under the Landlord and Tenant Act 1954, on the renewal of the lease will the guarantor remain liable under the renewal lease or will the guarantor need to be a party to and execute the new lease in order to guarantee the obligations of the tenant under the renewal lease? Where a commercial tenancy falls within the provisions of Part II of the Landlord and Tenant Act 1954 (LTA 1954) (LTA 1954, s 23) then, save for several specified exceptions, such tenancies will (unless there is an express exclusion course) continue on a statutory basis following the expiration of the lease. The tenant further has the right to seek a new tenancy. A landlord who wishes to obtain vacant possession of the premises is therefore obliged, absent agreement with the tenant, to serve a notice under LTA 1954 s 25 seeking the termination of...

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