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A common example of a solidary obligation created thorough operation of law is vicarious liability such as respondeat superior. Solidarity can be either active or passive. A solidary obligation that is active exists among the obligees (creditors) in the transaction. It is passive when it exists among the obligors (debtors) in a transaction.
If parties have joint liability, each of them is liable up to the full amount of the relevant obligation. Example: Alex and Bobbie are married. Together they take a loan from a bank and the loan agreement specifies that they are to be jointly liable for the full amount. Alex moves overseas and ceases to make payments.
In Napoleon's code, solidarity meant the joint liability of debtors towards a common creditor and was not a primary legal principle. [ 11 ] Conservatism , following the French Revolution , introduced the concept of "solidarity", which was detached from the legal system , as a reaction against rapid social change and as a longing for a stable ...
In financial accounting, a liability is a quantity of value that a financial entity owes. More technically, it is value that an entity is expected to deliver in the future to satisfy a present obligation arising from past events. [1] The value delivered to settle a liability may be in the form of assets transferred or services performed.
Thesaurus Linguae Latinae. A modern english thesaurus. A thesaurus (pl.: thesauri or thesauruses), sometimes called a synonym dictionary or dictionary of synonyms, is a reference work which arranges words by their meanings (or in simpler terms, a book where one can find different words with similar meanings to other words), [1] [2] sometimes as a hierarchy of broader and narrower terms ...
A place where tickets are sold, in this example, for movies. A term to describe how well a film is doing. "The film is a hit at the box office." [citation needed] brass: A metal alloy (used for or in the manufacture of e.g. buttons, insignia and a family of musical instruments)
“Being OK to get it out” is vital, Ryan says, sharing a recent example of pushing through a low moment: “I was recently moving, had a million things to do, while also working every day. I ...
An early example of strict liability is the rule Rylands v Fletcher, where it was held that "any person who for his own purposes brings on his lands and collects and keeps there anything likely to do mischief if it escapes, must keep it in at his peril, and, if he does not do so, is prima facie answerable for all the damage which is the natural ...