Jointly and severally

jointly and severally
In general: legal phrase used in definitions of liability meaning that an obligation may be enforced against all obligators jointly or against any one of them separately.

Jointly and Severally
Investment Dictionary:
Jointly and Severally
Home > Library > Business & Finance > Investment Dictionary ...

JOINTLY AND SEVERALLY - Municipal bond underwriting in which the account is undivided and syndicate mem...
JOINTURE - Made in lieu of dower, a freehold estate created in a property which lasts for the life of t...

Jointly and Severally - 1. A legal term describing a partnership in which individual decisions are bound to all parties involved and thus undivided.
2.

Shall be jointly and severally liable with the taxpayer for the tax to which such failure relates.

A guarantor who jointly and severally pledges to become legally liable for the debt or default of another person. Legal entities can also act as a joint guarantor. Also known as joint surety.

A general partner is involved in the management and day-to-day operation of the partnership and is jointly and severally liable for all obligations of the partnership.

" A promissory note may be made by two or more makers, and they may be liable either jointly, or jointly and severally, according to its tenor (§ 85).

member of a partnership who is jointly and severally liable for all debts incurred by the partnership that is, a partner who does not have limited liability. Or 2. managing partner of a limited partnership who is in charge of its operations.

See also: Joint, Joint Account, Jointly and Severally, Joint Return, Joint Stock Company, Joint Venture, Partnership, Property
? Mentioned in
No references found
Financial browser?

German, meaning: "general partnership": is characterized by the unlimited and direct liability of all partners who are jointly and severally liable. Their liability cannot be restricted.

Each partner has full authority to act on behalf of the others who are jointly and severally responsible for the liabilities of their partnership business, provided that such liabilities have been incurred in the ordinary course of business.

A form of business organization that falls between a corporation and a partnership. The company sells stock, and its shareholders are free to sell their stock, but shareholders are liable for all debts of the company.
Jointly and severally ...

customs procedures and all movements of duty-suspended excise goods from an excise warehouse. Administered by HM Revenue & Customs. It ensures the collection of duties and other charges and is supplied by the principal acting jointly and severally ...

jointly and severally A type of agreement that delineates the responsibility for selling the securities in an underwriting. Jonestown defense A particular case of poison pill, involving a firm's implementation of extreme...

See also: Joint venture, Joint account, Right of survivorship, Joint tenants, Junk bond