This office lease form is a guranty that absolutely, unconditionally and irrevocably guarantees the landlord the full and prompt performance and observance of all of the tenant's obligations under the lease, including, and without limitation, the full and prompt payment of all rent and additional rent payable by the tenant under the lease and tenant's indemnity obligations benefiting the landlord under the lease.
Texas Joint and Several Guaranty of Performance and Obligations
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FAQ
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.
If an agreement states that you and your roommate(s) are "jointly and severally liable," it's confirming that you're individually and collectively liable for the entire rent. In the event that your roommate(s) fail(s) to pay, you can be held responsible for his/her portion of the rent.
Opponents of the principle of joint and several liability argue that its use is unfair to many defendants. Joint and several liability will lead to cases in which a party who has a very small share of the responsibility for a plaintiff's injury may unfairly shoulder the burden of paying all of the damages.
Joint liability means that more than one person has the obligation to perform the same act. The benefits of joint liability include the case where one of the persons required to perform the contract suffers from a legal disability (such as bankruptcy). There is another contracting party bound to perform the obligation.
If several debtors are jointly and severally liable for the same performance, the creditor would always be entitled to claim it from any one of them. So the creditor will, in the ordinary case, presumably opt for the wealthiest among the co-debtors.
Under Texas law (Tex. Civ. Practice & Remedies Code § 33.013), a defendant is jointly and severally liable for an accident if they are found to be at fault for more than 50% of the victim's injuries.
Subsection (a) of section 33.004 provides that a defendant who desires to designate ?a person? as a responsible third party must file a motion for leave on or before the sixtieth day before a trial date, unless the court finds good cause to allow the motion at a later date. Id. § 33.004(a) (emphasis added).
The difference between joint liability and several liability lies in that the damage caused is different in cases giving rise to several liability. Where the damage is the same, joint liability arises between the tortfeasors.