Joint And Several Liability

Definition of "Joint and several liability"

Wendy  Stanbery
  Keller Williams Realty Gulf Coast

Two or more people have a legal duty that can be enforced against them by joint action, against all members, and against themselves as individuals. For example, a bank can require repayment from any and all of those who have borrowed to buy real estate property. each borrower is responsible for the entire debt, not only the percentage share.

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