A qualified endorsement is a type of financial endorsement that includes specific wording to limit the endorser's liability, such as 'Without recourse,' to indicate that the endorser is not responsible if the instrument is not honored.
A detailed explanation and examples concerning the term 'Sans Recours' or 'Without Recourse', often used in the world of finance and accounting to limit the liability of the seller.
A phrase indicating that the holder of a bill of exchange cannot seek payment from the original payee if the bill is not honored.
