(Of a legal obligation) undertaken by two or more people, each individual having liability for the whole: liability will be joint and several where the loan is in joint names
More example sentences
- We're continuing in our efforts to have joint and several liability replaced by a modified proportionate liability regime similar to the federal corporations act.
- There are justifiable arguments amongst those who are caught by the joint and several liability scheme that we should have proportionate liability.
- Midland Bank had joint and several personal guarantees from Mr Ebert and Mr Wolff, limited in each case to a right to recover £100,000 plus interest.
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