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.
Bexar Texas Joint and Several Guaranty of Performance and Obligations
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State:
Multi-State
County:
Bexar
Control #:
US-OL4A024C
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Word;
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How to fill out Joint And Several Guaranty Of Performance And Obligations?
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FAQ
A joint guarantee means the signatories are jointly liable as a group for the borrower's indebtedness. If one guarantor does not pay, the others are on the hook to fulfill the group's obligation to repay the full amount of that indebtedness.
When two or more parties are jointly and severally liable for a tortious act, each party is independently liable for the full extent of the injuries stemming from the tortious act.
The term joint liability refers to the share of liability assigned to two or more parties involved in a business. Several liability refers to a situation when all parties are liable for their respective contribution to the tortious act.
The term joint liability refers to the share of liability assigned to two or more parties involved in a business. Several liability refers to a situation when all parties are liable for their respective contribution to the tortious act. Another variation of joint liability is the joint and several liability.
Guarantors for a joint tenancy Joint tenants are 'jointly and severally liable' for rent. This means each joint tenant can be held liable for the total amount of rent, not just their share.
Joint and several liability is a legal term for a responsibility that is shared by two or more parties to a lawsuit. A wronged party may sue any or all of them, and collect the total damages awarded by a court from any or all of them.
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.
Definition of jointly and severally : both together and separately Both spouses are jointly and severally liable for the tax.
In a legally binding document, the term jointly and severally clarifies the responsibility that is shared by each party to an agreement. Essentially, it states that all of those named are obligated to perform all of the actions required under the agreement.
