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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]
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 ...
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 The act repealed the relevant common law and made new provision for contribution between persons who are jointly or severally, or both jointly and severally, liable for the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 close equivalent to limited liability partnerships under Polish law is the spółka partnerska, where all partners are jointly and severally liable for the partnership's debts apart from those arising from another partner's misconduct or negligence. This partnership type is only addressed to representatives of some "high risk" occupations ...
notice or as soon thereafter as counsel may file the necessary documents. CCC is a national grassroots organization of groups and individuals, headquartered in Washington, Pennsylvania. Founded in 1989 and incorporated in Pennsylvania as a non-profit charitable organization, CCC works for social and environmental justice. CCC's member groups
Generally, the law governing partnerships within the meaning of the Partnership Act 1890 and the Limited Partnerships Act 1907 does not apply to limited liability partnerships. [9] A notable exception to this, however, is in the respect of taxation : LLPs are treated as partnerships for tax purposes.
This can be done either for a pre-defined period of time, or in perpetuity ("enduring"). The power of attorney can be granted to one individual, or to multiple individuals. When granted to multiple individuals, they may be authorised either to act jointly (all together) or to act severally (each can act individually).
The owners are jointly and severally liable for any legal actions and debts the company may face, unless otherwise provided by law or in the agreement. It is a partnership in which partners share equally in both responsibility and liability.