Examlex
The vestibule is
Firm's Operations
The day-to-day activities involved in running a business, including production, marketing, and sales functions.
Pledging Accounts Receivable
Using accounts receivable as collateral to secure a loan.
Factoring
A financial transaction where a business sells its accounts receivable to a third party at a discount in exchange for immediate cash.
Recourse
In secured lending, if the asset collateralizing a loan proves not to have the value anticipated, recourse implies the borrower is still responsible for the debt. The lender is said to have recourse to the borrower.
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