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


Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
Investor Glossary Index >>> # 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 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
Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
©2004-2014 Investor Glossary - All rights reserved - Terms of Use