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Not liable. Without liability. … [Read more...] about NONRECOURSE

A debt where the person borrowing is not personally liable. The security is in the property purchased with the debt proceeds and which can be repossessed if the debt is not paid in a timely fashion. … [Read more...] about NONRECOURSE DEBT

One time and not repeating or recurring. Usually referring to a charge that occurs only once, such as at the beginning of a series of transactions, e.g. a set up fee. … [Read more...] about NONRECURRING

Where an item purchased, such as many airline tickets, do not permit a refund upon request of the purchaser should the purchaser decide later that he or she wishes not to use the ticket. … [Read more...] about NONREFUNDABLE

A trust where the trustee must carry out wishes but has no discretion as to the investing, spending or distribution of the assets. … [Read more...] about NONDISCRETIONARY TRUST