Joint Liability - Law Dictionary Search Results
joint liability
Matched in: Term joint liability
joint and several liability
Matched in: Term joint and several liability
liability
Matched in: Term liability
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Law Reform (UK)
husband's liability for his wife's torts and ante-nuptial obligations (see HUSBAND AND WIFE); amends the law relating to joint tortfeasors or damages recoverable in more than one action against joint or several tortfeasors in respect of damages
joint and several
Matched in: Term joint and several
joint tortfeasor
Matched in: Term joint tortfeasor
Limited liability
Matched in: Term Limited liability
obligation
obligation that may be enforced by the successor of the obligee or against the successor of the obligor joint obligation 1 : an obligation binding different obligors to a performance for one obligee 2 : an obligation … fulfill: as a : a commitment to pay a particular amount of money [does not create a debt, liability, or other , legal or moral "State v. Florida Dev. Fin. Corp., 650 So. 2d 14 (1995)"] ;also
Winding-up
(s. 156). In any winding-up the members who may be called upon to contribute are ascertained and their liability determined under ss. 157-162; see CONTRIBUTORIES. Debts and claims of all kinds require to be proved and if … go, amongst the persons having claims upon it. The term is most frequently applied to the winding-up of joint-stock companies. The property of a company is collected and distributed firstly in discharge of its liabilities, and secondly,
Firm
it can be assumed that all the partners were incurring that liability and so the partners remain liable jointly and severally for all the acts of the firm. This principle cannot be stretched and extended to such
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