Quick Definition

Joint and several liability is a legal doctrine where each party in a group is individually responsible for the entire debt or obligation, as well as collectively with others.

Examples

• 1If two business partners take out a loan and one defaults, the other can be held responsible for the full repayment of the loan.
• 2In a personal injury case, if multiple parties are found liable, the victim can seek the full compensation from any one of the defendants.
• 3In a joint tax return, if there are understatements of tax due to erroneous items of one spouse, the other spouse could also be held liable for the full amount.

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