Without Recourse

This phrase, used in making a qualified indorsement of a negotiable instrument, signifies that the indorser means to save himself from liability to subsequent holders, and is a notification that, if payment is refused by the parties primarily liable, recourse cannot be had to him.

See Thompson v. First State Bank, 102 Ga. 696, 29 S. E. 610; Epler v. Funk, 8 Pa. 468; Youngberg v. Nelson, 51 Minn. 172, 53 N. W. 629, 38 Am. St. Rep. 497; Bankhead v. Owen, 60 Ala. 461.