joint and several liability

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• 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 liability — ➔ liability * * * joint and several liability UK US noun [U] ► LAW a situation where each of the people or organizations in a group is responsible, as a group and separately, for paying a debt, paying for damage that has been caused, etc.: »The… …   Financial and business terms

• joint and several liability — The liability of more than one person for which each person may be sued for the entire amount of the damages. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

• joint and several liability — (law) The responsibility of any one member of a group for the actions or debts of any or all of the others, and the responsibility of the group as a whole for the actions or debts of any one member • • • Main Entry: ↑join …   Useful english dictionary

• 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 Liability — When multiple parties can be held liable for the same event or act and be responsible for all restitution required. In cases of joint and several liability, a person who was harmed or wronged by several parties could be awarded damages and… …   Investment dictionary

• joint and several liability — The liability of joint tortfeasors. 52 Am J1st Torts § 110. The liability of the two or more contracting parties on one side under an agreement in such terms as to engage the two or more jointly and each one individually. See joint and several… …   Ballentine's law dictionary

• joint and several liability — A liability that is entered into by a group, on the understanding that if any of the group fail in their undertaking the liability must be shared by the remainder. Thus, if two people enter into a joint and several guarantee for a bank loan, if… …   Accounting dictionary

• joint and several liability — A liability that is entered into as a group, on the understanding that if any of the group fail in their undertaking the liability must be shared by the remainder. Thus if two people enter into a joint and several guarantee for a bank loan, if… …   Big dictionary of business and management

• 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