Joint and several liability: Difference between revisions

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''Law''.   
''Law''.   
Joint and several liability means a creditor may sue one or more of the parties to a liability separately, or all of them together, for the whole amount of the liability.
Joint and several liability means a creditor may sue one or more of the parties to a liability separately, or all of them together, for the whole amount of the liability.


This is a more favourable arrangement for the creditor, and less favourable for the parties undertaking the liability, compared with ''several liability'' (where each party’s liability is limited to a proportionate share of the whole amount).
This is a more favourable arrangement for the creditor, and less favourable for the parties undertaking the liability, compared with ''several liability'' (where each party’s liability is limited to a proportionate share of the whole amount).


== See also ==
== See also ==
* [[Liabilities]]
* [[Liabilities]]
* [[Limited liability]]
* [[Limited liability]]
* [[Proportionate]]
* [[Several liability]]


[[Category:Compliance_and_audit]]

Latest revision as of 22:56, 26 June 2021

Law.

Joint and several liability means a creditor may sue one or more of the parties to a liability separately, or all of them together, for the whole amount of the liability.

This is a more favourable arrangement for the creditor, and less favourable for the parties undertaking the liability, compared with several liability (where each party’s liability is limited to a proportionate share of the whole amount).


See also