joint and several liability definition

joint and several liability

Together and in separation liability. In joint and several agreements, the liability for default is enforceable against all of the signatories as a group (not necessarily on a proportional or pro-rata basis), or against any one of them as an individual—at the choice of the enforcing party. See also jointly and severally.

joint and several liability appears in the definitions of the following terms: jointly and severally, joint liability, pro rata guarantee, several liability and aliquot liability

joint and several liability appears in the other term: strict joint and several liability

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