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

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Joint liability in the name of solidarity will quickly become a one-way street for governments that pursue imprudent economic policies to escape accountability.
The TUC said that unless joint liability is extended to parent employers, many supply chain workers will remain at risk of being cheated out of holiday pay and the national minimum wage.
The UAE Civil Transaction Code ("CTC") imposes in article number (877) a strict joint liability on the contractor and the supervisor engineer if a building collapses within ten years of the date of handing over the building.
As per the CBI officials, the bank sanctioned a loan amounting to Rs 148.60 crore in 2011 to the private company for financing individual, Joint Liability Groups, Self-Help Groups under the tie-up arrangement of the RBI Scheme to 5,762 sugarcane farmers supplying produce to said private company during the period from January 25 to March 13, 2012.
"Fifteen million dollars will be pumped monthly from the beginning of next month to the Palestinian Joint Liability Committee in support of relief, humanitarian and development projects in the Gaza Strip to alleviate their suffering," Samir Al Mashharawi, an ally of Dahlan, said in a statement.
Pralay Mondal, the bank's senior group president for retail and business banking, said, 'We have turned cautious about business correspondents for loans to self-help and joint liability groups because of demonetisation.
Further, without an alternative source of recovery such as the PICF, the trauma cap and the elimination of joint liability would be ripe for a constitutional challenge.
Using repayment data to test across models of joint liability lending.
Dissenting Members Harry Johnson III and Philip Miscimarra contend that the redefinition of joint employer "will subject countless entities to unprecedented new joint-bargaining obligations that most do not even know they have, to potential joint liability for unfair labor practices and breaches of collective-bargaining agreements, and to economic protest activity, including what have heretofore been unlawful secondary strikes, boycotts, and picketing.
Jeddah, Ramadan 27, 1436, Jul 14, 2015, SPA -- Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, Second Deputy Premier and Minister of Defense, donated SR50 million to Joint Liability Fund at armed forces and Warlord Succession Program.
It is unusual for fences to be jointly owned or for there to be some form of joint liability for their upkeep.
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