Investor Glossary-joint and several liabilityInvestor Glossary-joint and several liabilityInvestor Glossary-joint and several liabilityInvestor Glossary-joint and several liabilityInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Joint And Several Liability

The HTML to link to this page
 

Under joint and several liability a plaintiff may recover full damages from any defendant in a case, regardless of what percentage of liability a defendant may owe. If a defendant is found to be even 1% responsible under joint and several liability that defendant can be required to pay 100% of any damages. Supporters of joint and several liability contend that the laws protect a victim from being under compensated if one defendant cannot pay his or her share of a settlement. Opponents of joint and several liability point to the unfairness of a defendant being found 1% responsible yet being forced to pay 100% of an award. Joint and several liability encourages plaintiffs to look for defendants with "deep pockets." Joint and several liability primarily applies in tort cases and joint and several liability is valid in 46 states.



Rate this joint and several liability definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: irrevocable trust, minority interest, Zero Cost Collar, 144a, open position, EBITDA, 1035 exchange, annual return, FICO score, phantom income, in escrow, diluted share, deferred revenue, real GDP, deferred tax, current ratio, FTSE, 1031 exchange, dividends payable, margin rate, stock market close, limit order, VIX, retained earnings, per diem, debt service coverage, class C shares, stock split, average price per share, ex-dividend, command economy, ex-dividend date, reverse mortgage, liquidity ratio, option premium, risk management, quality assurance, 401a, required rate of return, cancelled check, implied volatility, covered put, LIBOR, Key Rate Duration, labor relations, wholly-owned subsidiary, APR, balance sheet, inflation


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use