Akademik

joint and several liability
joint and several liability joint and several liability liability

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joint and several liability UK US noun [U]
LAW a situation where each of the people or organizations in a group is responsible, as a group and separately, for paying a debt, paying for damage that has been caused, etc.: »

The judge applied the rule of joint and several liability, and ordered the car manufacturer to pay 100% of the damages, as the driver could not pay his 90% share.

Compare JOINT LIABILITY(Cf. ↑joint liability)

Financial and business terms. 2012.