Examlex
For most people, the active mode and receptive mode:
Without Recourse
A term indicating that the seller or transferor of a financial instrument is not liable to the buyer or transferee in case of default.
Discharged
Refers to the completion or termination of a legal obligation or debt.
Primary Liability
The direct responsibility to pay a debt or fulfill an obligation, without relying on another to first default.
Certified Check
A personal check for which the issuing bank guarantees payment by certifying that sufficient funds are available and set aside.
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