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nonrecourse debt
non·re·course debt [ non r kawrss dèt, nonri káwrss dèt ] (plural non·re·course debts)


noun 
Definition:
 
debt without borrower's personal liability: a debt that the lender cannot recover from the personal assets of the borrower
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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