'joint liability' is a proper phrase in written English.
It refers to the shared responsibility or legal obligation of multiple parties towards a certain situation or outcome. Example: In a business partnership, both partners have joint liability for any debts or losses incurred by the company.
Such joint liability should be the standard in subcontracting arrangements.
Joint liability means all tenants (and guarantors) are each liable for the whole rent".
Either Europe's governments will have to assume explicitly some joint liability for each other's debts.
A growing chorus argues that this must entail some form of joint liability for countries' debts.
Joint liability for loans became an increasing problem for groups when some members wanted to borrow more than others.
But the core of the solution has to be the link between good behaviour and joint liability.
German officials have argued that any open-ended commitment to joint liabilities would encourage errant governments to profligacy, violate Germany's constitution and raise its borrowing costs.
And in Finland, a creditor country, a paper published by a group of economists this week suggests that it would be better to leave the euro lest Finland gets dragged into a more federal system with joint liabilities such as Eurobonds.If markets once seemed ready to push the weakest countries out of the euro, now it is voters who may pull their escape cord.
The aim of this article is to test the relationship among organizational architecture, joint liabilities contracts, and loan conditions.
German savings banks and mutual banks are used to the idea of mutualised guarantees: they have formed joint-liability groupings, which vouch for the solvency of each bank in their group.
The likelihood of joint-liability borrowing increases the lower is the probability of project success, a direct affirmation of adverse selection.
