Joint and several liability allows a creditor to pursue one or more obligors for the entire obligation. Joint and several liability means each obligor may be held individually and all collectively liable; the creditor may pursue one, some, or all obligors at ... Summary
Joint and several liability allows a creditor to pursue one or more obligors for the entire obligation.
Joint and several liability means each obligor may be held individually and all collectively liable; the creditor may pursue one, some, or all obligors at their option. Such liability can arise by contract, statute or other legal imposition and allows apportionment or election in enforcement, permitting recovery of the whole obligation from an individual obligor despite multiple obligors.
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