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Joint liability means that at least two parties share liability in a lawsuit or legal dispute. Often, a jury decides what percentage of liability each defendant is responsible for. An example - An automobile is rear ended by a furniture delivery truck. The driver of the auto is injured and sues the furniture store AND the driver separately. A jury might find that more fault belonged to the driver since the truck was in good working condition. Therefore, this jury might decide that $100,000.00 should be awarded. They might decide that $80,000 of the damages are to be paid by the driver of the truck and $20,000 to the furniture store.
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What is the difference between joint liability and joint and several liability?
Joint liability means the defendants each must apy their share. Joint and several liability means the plaintiff can collect all dammages from one defendant if the other defendants cannot pay.
What does it mean a married couple filing a joint tax return has joint and several liability for the taxes associated with the return?
It means that they have joint liability as a couple and also individual liability, so that each one can be charged separately.
What is liability economics?
what is meaning of liability in accounting
Examples of personal liability exposures and how they give rise to legal liability?
examples of joint,several and individual liability of partnership firm
What is a word meaning legally responsible?
Legal Liability. Liability.
What is the medical term meaning hinge joint?
Articulation is the medical term meaning joint. The medical terminology combining form meaning joint is arthro-.
Actually what means cross liability?
Cross liability, sometimes referred to as "Joint Liability"is an instance where more than one person or entity is considered liable for a loss or injury.
What is the meaning of outstanding liability?
The amount of liability which is yet to be paid as on the balance sheet date is known as outstanding liability
What is the doctrine that helps offset the effect of joint and several liability?
Contributory negligence
Where can one read about the joint and several liability rule online?
There are many places where one can read about the joint and several liability rule online. One of the best places to read about this online would be a website like Wikipedia.
What type of business has the most liability partnership sole proprietorship corporation or limited liability partnership?
The liability of various forms of business are as follows: Partnership: The liability of the partners is joint, several and unlimited. Sole proprietorship: The liability is of the proprietor is unlimited. LLP: The liability is limited by MOA and AOA.
What is the legal meaning for absolute liability?
The legal meaning for 'absolute liability' is that one could be found guilty of a crime even if it was not intentional. Regulatory offences are considered to be strict liability offences.
