RECOURSE NOTE Definition

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RECOURSE NOTE is a note where the default may result in loss of collateral and also personal suit and judgment. Most notes are recourse notes.

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GOOD DELIVERY, in securities, is the opposite of a fail. The instru­ment and the dollar amounts agree and a transaction is completed as initially executed. "Good delivery form" is when the instrument is properly documented in all respects and therefore acceptable for delivery to complete a transaction.

TOTAL LIABILITIES AND EQUITY is all claims on the company's total assets, by outsiders (liabilities) and the company owners/shareholders (equity).

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