joint and several obligation

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• joint and several bond — A bond in which the obligors are, by its terms, bound both jointly and individually to pay the full amount of the bond. The rule is that where an instrument worded in the singular is executed by several, the obligation is a joint and several one …   Ballentine's law dictionary

• joint and several liability — see liability 2b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. joint and several liability …   Law dictionary

• joint and several — joint and sev·er·al adj: relating or belonging to two or more parties together and separately joint and several duties of the partners see also joint and several liability at liability 2b compare in sol …   Law dictionary

• Joint and several — Joint Joint (joint), a. [F., p. p. of joindre. See {Join}.] [1913 Webster] 1. Joined; united; combined; concerted; as, joint action. [1913 Webster] 2. Involving the united activity of two or more; done or produced by two or more working together …   The Collaborative International Dictionary of English

• Joint and several liability — Where two or more persons are liable in respect of the same liability, in most common law legal systems they may either be:* jointly liable, or * severally liable, or * jointly and severally liable.Joint liabilityIf parties have joint liability,… …   Wikipedia

• joint and several contract — A contract with two or more contracting parties on one side, presenting distinct engagements and rights, each contractor being liable and entitled individually and the two or more of them being liable and entitled jointly. 17 Am J2d Contr § 298.… …   Ballentine's law dictionary

• joint and several note — A promissory note which is the note of all and of each of the makers as to its legal obligation between the parties to it. A promissory note in the form, I promise to pay, etc., and signed by two persons is as much a joint and several note as one …   Ballentine's law dictionary

• joint and several — adjective (of a legal obligation) undertaken by two or more people, each having liability for the whole …   English new terms dictionary

• joint — United; combined; undivided; done by or against two or more unitedly; shared by or between two or more; coupled together in interest or liability. The term is used to express a common property interest enjoyed or a common liability incurred by… …   Black's law dictionary

• joint — United; combined; undivided; done by or against two or more unitedly; shared by or between two or more; coupled together in interest or liability. The term is used to express a common property interest enjoyed or a common liability incurred by… …   Black's law dictionary

• joint obligor — One of two or more persons bound by a joint obligation or a joint and several obligation. One of two or more persons jointly liable upon a negotiable instrument as makers, indorsers, accommodation indorsers, etc …   Ballentine's law dictionary