Joint And Several Liability
Where two or more persons are liable in respect of the same liability, in most common law legal systems they may either be:
- jointly liable, or
- severally liable, or
- jointly and severally liable.
Read more about Joint And Several Liability: Joint Liability, Several Liability, Joint and Several Liability, Arguments For and Against Joint and Several Liability, Variations, Microfinance
Famous quotes containing the word joint:
“There is no such thing as “the Queen’s English.” The property has gone into the hands of a joint stock company and we own the bulk of the shares!”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)