Several Liability In Tort
Description
How to fill out Complaint Against Makers Of Promissory Note And Personal Guarantors For Joint And Several Liability?
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FAQ
Joint and several liability is a legal term for a responsibility shared by two or more parties to a lawsuit. A wronged party may sue any or all of them, as well as collect the total damages awarded by a court from any or all of them. In such cases, responsibility for the total amount awarded would be shared by all.
Example: Joint and Several Liability Where any obligation, warranty or undertaking in this agreement is expressed to be made, undertaken or given by the Sellers, they shall be jointly and severally responsible in respect of it.
Example: Joint and Several Liability The Purchaser may release or compromise in whole or in part the liability of any of the Sellers under this agreement or grant any time or other indulgence without affecting the liability of any other of the Sellers.
For example, suppose that A, B, and C negligently injure V. V successfully sues A, B, and C, for $1,000,000. If the court used a joint and several liability system, V could demand that A pay V the full $1,000,000. A could then demand contribution from B and C.
In law, joint and several liability makes all parties in a suit responsible for damages up to the entire amount awarded. That is, if one party is unable to pay, the others named must pay more than their share.