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joint and several liability
(redirected from Joint tortfeasors)

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joint and several liability

Having full liability for the whole of a debt or injury. Comakers on promissory notes have joint and several liability,so that the lender may collect the entire amount due from only one borrower and is not limited to collecting one-half from each borrower. The following usually have joint and several liability unless required otherwise by a specific state law or contractual agreement:

• Partners in a general partnership
• Taxes owed by husbands and wives who file joint returns
• Multiple persons who commit one wrong and injure another
• Tenants under one lease, such as roommates
• Cosigners on promissory notes
• Cosigners on guarantee agreements

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joint ownership
Joint Return
Joint stock company
Joint tax return
joint tenancy
joint tenancy with right of survivorship
Joint Tenants with Right of Survivorship
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joint-stock company
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Jointly Owned Property
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JP

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