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What is meant by Joint and Several liability?

April 26, 2017Joint liability meant

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What is meant by Joint and Several liability?

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A. This means that all liable parties are equally and personally liable for the obligations of a judgment, loan, debt or other liabilities. Being Severally Liable means that, if one liable party is unable to pay their portion of an obligation then the remaining liable parties will be responsible for their own portion as well as this unpaid portion.