joint and several liability
Definition
An obligation for which multiple individuals are liable for payment.
Cite this definition
'joint and several liability
' appears in the definitions of these terms on BusinessDictionary.com
jointly and severally, several liability, pro rata guarantee, aliquot liability, joint liability
Related Research Articles from the InvestorGuide.com University
Credit CardsLearn how credit cards, despite the convenient and useful way to pay for products and services, also encourages excessive spending that lead to debt accumulation and high interest rates on the money owed. Understand why the use of credit cards is recommended only for those who intend to pay off the balance each month, and consider the types of credit cards carefully.
BankruptcyMore than a million Americans declared bankruptcy last year, and that number continues to rise. Learn everything you needed to know about bankruptcy, including the different types: Chapter 7, Chapter 11, and Chapter 13.
Choosing a Credit CardTrying to find the right credit card? Learn how to evaluate fees, perks, and the associated fees before making your decision.
Featured Sponsor
|