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 ?
Using the preceding example with the bank as the plaintiff, Table 1 analyzes four representative states and shows the status of this risk in those states that have not abolished joint and several liability.
The significance of the joint and several liability reform is illustrated by the following scenario.
In Texas, Governor George Bush signed six statutes that cap punitive damages, restrict joint and several liability, limit liability for medical malpractice and grant limited immunity for state and local governments.
Strict, joint and several liability holds any one party known to have contributed to a site, responsible for the entire cost of cleanup regardless of the extent of their participation.
We felt that retroactive liability and joint and several liability was insane.
Most of the claims for third-party cleanup appear to be filed under the doctrine of joint and several liability.
If the tenderer is a working partnership, shall be with the offer following a declaration of joint and several liability towards the client and third parties.
The first step in creating a legal climate that will help Pennsylvania to grow jobs is to join the dozens of states that have abandoned joint and several liability to create a fairer system in which financial liability is related to responsibility for causing the harm or damage," said Pennsylvania Business Council President and CEO David W.
Under Florida's current law, joint and several liability applies only to economic damages for defendants who are more than 10 percent at fault.
However, a spouse may apply for innocent spouse relief from joint and several liability under Sec.
I am concerned with the general misconception that the doctrine of joint and several liability requires a codefendant to pay for damages that were not his fault.
THE lease imposed joint and several liability on you and your flatmates.