joint and several liability

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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

References in periodicals archive ?
In paving the path for franchisors and franchisees to be held jointly liable for employee matters, the NLRB is spoon-feeding unions an easy victory while devastating thousands of independent small business owners that drive the U.
Otherwise he or she is jointly liable with the perpetrator," she said.
If you buy your holiday with a credit card, the card issuer is jointly liable for breaches of contract or misrepresentations by the holiday company.
For example general partnership is an association of two or more legal entities or individuals who are personally and jointly liable without limit to the creditors.
The owner of the Press Publication, the chief editor and the writer shall be jointly liable for personal rights arising from such crimes and for litigation expenses.
A source said: "The bank were able to use her earlier court claim to prove she was jointly liable along with her father.
Nokia Finland will be bound by the statement that they shall be jointly liable and shall pay tax demand determined and payable under Section 201/ 201( 1A), interest and penalty thereon.
The co-owners, Yaowapha Ritdet and Steve Walter, are being held both individually and jointly liable for Labor Code violations found at their two establishments: WT Yupin, Inc.
Married taxpayers filing a joint return are jointly liable for the payment.
If the landlords failed to give the information then they would become jointly liable for payment of the bills, along with their tenants.
USE YOUR CREDIT CARD If you buy your holiday with a credit card, the card issuer is jointly liable for breaches of contract or 'misrepresentations' by the holiday company - this is particularly useful if the company goes out of business.
Management companies are jointly liable with shipowning companies to pay the tax.