A joint and several liability
agreement refers to a deal in which two or more parties are held liable for the same act and are all held responsible for the payment of any restitution or damages.
'Very simply, the joint and several liability
undertaking means that the project will be fully backed by the financial capability of San Miguel, the parent company of SMHC.'
" In response to this, SMC in a statement said it agrees with the position of Dominguez that the company should forge joint and several liability
agreements with its subsidiary for the Bulacan airport undertaking.
The arbitrator awarded petitioner only half of the total damages, reasoning that petitioner should have included Wesco as an additional respondent and that joint and several liability
is not available in loss transfer proceedings.
Contribution, Not Joint and Several Liability
, Is the
The downgrade thus reflects the weakness of the existing guarantee, which is a statutory joint and several liability
obligation, but not unconditional and irrevocable in nature.
* Created the Patient Injury Compensation Fund to allow plaintiffs to collect reasonable compensation for any portion of economic damages that was uncollectable due to limits on joint on several liability
or the trauma cap.
What does a joint and several liability
clause look like?
If this is the case, the joint and several liability
will be passed on to them.
If not, you can either make a chargeback claim if you used a debit card, or a Section 75 claim, which places joint and several liability
on the bank for credit card payments of PS100 or more.
* Joint and several liability
differs from one state to another, which means different payouts for carriers.
(8) Consistent with joint and several liability