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Joint and several liability means that all the tenants are responsible for all the rent. So, if John and Betty both sign the lease, and the rent is $1,000, it's not like John owes $500 each month, and Betty owes $500 - they both owe the whole thing. The landlord can't collect $2,000 total; once he gets the $1,000, that's it for that month. But, if John pays $500, and Betty leaves town (permanently), and doesn't pay, the landlord could sue John for the remaining $500, since he now can't find Betty. John doesn't get to argue that he paid his half, and is off the hook. He is jointly and severally liable.
What else can I help you with?
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.
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 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.
How can you be legally terminated from a joint responsibility month to month rental agreement when your roommate refuses to end the agreement also?
Any of the three parties can terminate the tenancy at the end of the next month, with notice this month. Then, one roommate can sign a new agreement with the landlord, without the other tenant.
Is the joint owner of the property you live in your landlord?
This is specified on your lease or rental agreement. If there is a co-owner and the original landlord is unable to fufill their duties the responsibility would fall on the other owner.
How can I purchase rental property using someone else's funds?
You can purchase rental property using someone else's funds by entering into a partnership or joint venture agreement where the other person provides the funds for the purchase while you manage the property and share the profits. It's important to have a clear legal agreement in place to outline each party's responsibilities and expectations.
Who named the Concorde?
A joint agreement between the French and the British. It translates as 'agreement, harmony or union'
How can Congress change or amend an executive agreement?
Congress can pass a joint resolution revoking an executive agreement.
What are the documents Required for a Joint Venture Agreement?
Following documents are required for Joint Venture Agreement: A written agreement signed by all joint venture participants. Photocopies of government-issued identity documents of all parties, such as a passport, PAN card, or voter ID card. If the joint venture involves companies, a copy of the Incorporation Certificate of each company. PAN cards of all parties involved in the joint venture agreement. Bank account details of all parties, including cancelled cheques. A document outlining the joint venture’s objective, objectives, and each party’s rights and obligations. If the joint venture is a company, proof of registered office, such as a rent agreement or util
