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Joint liability |
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Joint liabilityThe responsibility of two or more people to fulfill the terms of a home loan or debt.Joint liabilityThe legal liability of two or more people for claims against or debts incurred by them jointly. If three people have joint liability and are indebted to another party, they may only be sued as a group and not individually.Similar MatchesLiability insuranceLiability insuranceInsurance guarding against damage or loss that the policyholder, may cause another person in the form of bodily injury or property damage. Noncurrent liabilityNoncurrent liabilityA liability due in one year. Joint and several liabilityJoint and several liabilityAn undertaking by a group of two or more people to be responsible, either individually or jointly, for any liability which may exist after any member or members have failed to meet their obligations. For example if a group of four people enter into a joint and several liability on a bank loan, then in the event of two of the members reneging on their obligations the remaining two members become fully responsible for the repayment of the loan. Liability insuranceLiability insuranceInsurance against legal liability to pay compensation and court costs where the insured has been found negligent in respect of injuries sustained by another person or damage to his/her property. Funded LiabilityFunded LiabilityA source of funds that a firm must take overt action to arrange and that carries an interest cost. Further SuggestionsLimited liability instrumentTax liability umbrella personal liability insurance Lender liability lawsuits Liability limited liability Umbrella personal liability policy Contingent pension liability Contractual liability Unlimited liability Limited liability |
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