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Under joint and several liability or (in the U.S.) all sums, a plaintiff (claimant) is entitled to claim an obligation incurred by any of the promisors from all of them jointly and also from each of them individually. Thus the plaintiff has more than one cause of action: if she pursues one promisor and he fails to pay the sum due, her action is ...
In general trustees are under a duty to act jointly and have authority to act individually only if the trust instrument so provides. In principle therefore each trustee has an equal say in the management of the trust property and therefore in the event of a breach the trustees are jointly and severally liable for their actions. [1]
The Partnership Act 1890 (53 & 54 Vict. c. 39) is an Act of the Parliament of the United Kingdom which governs the rights and duties of people or corporate entities conducting business in partnership. A partnership is defined in the act as 'the relation which subsists between persons carrying on a business in common with a view of profit.' [1]
Partnerships are a form of business association, which arises automatically when people carry on business with a view to a profit (Partnership Act 1890 s 1). Partners are jointly and severally liable, just as they own the property in common.
The Civil Liability (Contribution) Act 1978 [1] (c. 47) is an act of the Parliament of the United Kingdom.. The act repealed the relevant common law and made new provision for contribution between persons who are jointly or severally, or both jointly and severally, liable for the same damage and in certain other similar cases where two or more persons have paid or may be required to pay ...
A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs (which may be financial or regarding health and welfare), business, or some other legal matter. The person authorizing the other to act is the principal, grantor, or donor (of the power).
The first edition was published in 1891 by West Publishing, with the full title A Dictionary of Law: containing definitions of the terms and phrases of American and English jurisprudence, ancient and modern, including the principal terms of international constitutional and commercial law, with a collection of legal maxims and numerous select titles from the civil law and other foreign systems.
In a traditional limited partnership, the general partners are jointly and severally liable for their debts and obligations. Limited partners are not liable for those debts and obligations beyond the number of their capital contributions.