Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
nonrecourse note.
A note that may be satisfied upon default only by means of the collateral securing the note, not by the debtor's other assets. Cf. recourse note.
recourse note.
A note that may be satisfied upon default by pursuing the debtor's other assets in addition to the collateral securing the note. Cf. nonrecourse note.