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:
“No Government can be long secure without a formidable Opposition. It reduces their supporters to that tractable number which can be managed by the joint influences of fruition and hope. It offers vengeance to the discontented, and distinction to the ambitious; and employs the energies of aspiring spirits, who otherwise may prove traitors in a division or assassins in a debate.”
—Benjamin Disraeli (1804–1881)