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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 ...
Generally, full payment to any of the solidary obligees extinguishes the obligation. A common example of solidary obligations for the obligees is a joint bank account; when two or more names are on an account, they are obligees of the bank's obligation to make funds available on demand.
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 article defines three types of liability (joint, several and joint and several). But then the first example mentions "proportionate liability". Is this supposed to be one of the three types previously defined? The term is not mentioned anywhere earlier but it is used as if it were previously defined.
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 ...
A joint account is simply a bank account shared by two or more people, each with full access to the funds. Having a joint account can make it easier to manage shared expenses, but it's not always ...
Using the but for test alone, Dan and Dave can both escape liability. Dan can say that but for his own negligence, Paula still might have suffered the same harm. Dave can make the same argument. As a matter of public policy, most courts will nonetheless hold Dan and Dave jointly and severally liable.
2. Open an account in a different ownership category. If you want to keep all your money in one FDIC-insured bank, you may be able to insure deposits of more than $250,000 by opening different ...