joint and several liability


Also found in: Dictionary, Medical, Legal, Wikipedia.
Related to joint and several liability: Jointly and severally

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 ?
The claim that eliminating joint and several liability in Pennsylvania will create jobs is an urban legend with no basis in reality.
Since Superfund site remediation is typically in the scores to even hundreds of millions of dollars, the specter of joint and several liability has actually bankrupted certain NPCA/FSCT member companies, and severely cost many others unfair liability over the years.
Nationwide, the District of Columbia and seven states--Alabama, Maine, Maryland, Massachusetts, North Carolina, Rhode Island, and Virginia--have pure joint and several liability.
If members of the Bar give local legislators an earful about this measure's unfairness, joint and several liability may be restored in the future.
Their protests are finally being heard: lawsuit reform legislation such as Pennsylvania's Fair Share Act of 2002 has begun to change the legal landscape, amending prior practices of using joint and several liability.
2) At least 10 percent but less than 25 percent, there is no joint and several liability for economic damages in excess of $200,000;
IRS issued Notice 96-19 requesting comment on numerous questions relating to replacing the joint and several liability standard with a proportionate liability standard.
Wisconsin recently passed laws that cap noneconomic damages and limit joint and several liability.
Sometimes a tenant will seek to negotiate away joint and several liability, notes Loehr.
Joint and several liability means if you only contributed 1 percent of the waste, you could be held liable for 100 percent of the cleanup costs.
The oil, chemical, and insurance industries have declared war on the joint and several liability scheme and they are seeking, by means fair and foul, to bring cities and small business on their side.
The legal doctrine of joint and several liability in many states allows just one of many defendants found at fault in a lawsuit to be forced to pay much or all of the damages awarded, regardless of its culpability.
Full browser ?