As partners, you are jointly and severally liable for all the partnership's debts.
Mr. Batcheler noted that the ruling potentially makes individual unit holders "jointly and severally" liable for damages.
But, Mr. Higgins said, most residential leases provide that all tenants whose names are on the lease are "jointly and severally liable" for fulfilling its terms.
LG, Buxton Unfortunately, the terms of the divorce do not affect the terms of the mortgage, and as you are still named on it you remain "jointly and severally liable" for the debt.
CJ, Clockheaton, W Yorks Section 75 of the consumer credit act makes the card provider "jointly and severally liable" for any breach of contract, which is why we always advise readers to pay for expensive items using a credit card.
ESM members are again jointly and severally liable for all losses that may be incurred on money borrowed by the ESM to lend more money that cannot be repaid.
Despite the striking shift in approach, another change would bring even greater relief to innocent spouses: eliminate the law that makes each spouse "jointly and severally liable" for any misrepresentations on a joint tax return.
I'm worried about the potential consequences of signing this contract as a guarantor, making all the tenants jointly and severally liable for each other's rents, and being bound by the contract to pay for their portion of rent or bills, should anything go wrong or one or more move out prior to the full term.
France's "SCAs" or Sociétés en Commandite par Actions have two tiers of partners: general ones jointly and severally liable for a company's debts, and limited partners who are ordinary shareholders with little power and who can lose only what they invest.
The group lending consists also of granting credit to a group whose members are chosen freely and are jointly or severally liable for the repayment of all the loans to the group.
