right of recourse; right of redemption
Legal term referring to the right to seek compensation or performance from a prior party, such as an endorser or guarantor, after the primary obligor defaults.
If a bill is dishonored, the holder can exercise the right of recourse against the drawer.
Standard kanji spelling for this legal term.
Mixed kana-kanji spelling; may be used when the first kanji is difficult or unavailable.
Compound of 遡 (そ, 'go back, retroact'), 求 (きゅう, 'demand, request'), and 権 (けん, 'right'). The term is a direct translation of the Western legal concept 'right of recourse'.