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 ?
"Maynilad shall be jointly and severally liable with the MWSS for a total amount of P921.46 million covering the period May 7, 2009 to date of promulgation (Aug.
On Tuesday, the Supreme Court held the MWSS, Maynilad and Manila Water 'jointly and severally liable' for violation of the Clean Water Act and ordered them to pay P921,464,184 each for failing to connect homes and business establishments to the sewerage system.
" "Maynilad shall be jointly and severally liable with the MWSS for a total amount of P921,464.184 covering the period of May 7, 2019 to date of promulgation," Hosaka said.
Maynilad shall be jointly and severally liable with the MWSS for a total amount of PHP921,464,184 covering the period 05/07/09 to date of promulgation.
not a personal loan), the bank is jointly and severally liable. Set out your complaint in writing and ask that the issues are fixed.
To settle the SEC's charges, Rice and Ford agreed to be held jointly and severally liable for $2,259,543 in disgorgement plus $68,423 in prejudgment interest, and each must pay a $184,767 penalty.
FGV Holdings is seeking RM2.9 million from Isa and Mohd Emir over the condominium units and RM1.6 million over their use and possession of the units, with the duo to be jointly and severally liable to pay for these sums.
BOA now seeks to find Defendants jointly and severally liable in the amount of $5,022,003.67 as of April 30, 2018, plus interest, as adjudicated by the Connecticut Superior Court on May 15, 2018 (the Connecticut Proceeding).
The employer has the legal right to claim all due compensation from either the supervisor engineer, or the contractor, or both of them to be jointly and severally liable to pay the full claimed compensation amount.
Buying with others also means you're jointly and severally liable for the mortgage debt.
In finding Sun Capital jointly and severally liable with Scott Brass for the $4.5 million withdrawal liability, the First Circuit of Appeals Court noted that:
Of this total, AB Nynas Petroleum is jointly and severally liable for 10,164,000 - instead of 10,395,000.