Joint and several liability - significado y definición. Qué es Joint and several liability
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Qué (quién) es Joint and several liability - definición


Joint and several liability         
LEGAL TERM
Joint and Several Liability; Joint and several; Several liability; Joint liability; Jointly liable; Severally liable; Jointly and severally liable; Joint tortfeasors; Jointly and severally; Joint-responsibility rule; Joint tortfeasance
Where two or more persons are liable in respect of the same liability, in most common law legal systems they may either be:
joint and several         
LEGAL TERM
Joint and Several Liability; Joint and several; Several liability; Joint liability; Jointly liable; Severally liable; Jointly and severally liable; Joint tortfeasors; Jointly and severally; Joint-responsibility rule; Joint tortfeasance
adj. referring to a debt or a judgment for negligence, in which each debtor (one who owes) or each judgment defendant (one who has a judgment against him/her) is responsible (liable) for the entire amount of the debt or judgment. Thus, in drafting a promissory note for a debt, it is important to state that if there is more than one person owing the funds to be paid, the debt is joint and several, since then the person owed money (creditor, promisee) can collect the entire amount from any of the joint signers of the note, and not be limited to a share from each debtor. If a party injured in an accident sues several parties for causing his/her damages, the court may find that several people were "jointly" negligent and contributed to the damages. The entire judgment may be collected from any of the defendants found responsible, unless the court finds different amounts of negligence of each defendant contributed to the injury. Defense attorneys should require the trier of fact (jury or judge sitting without a jury) to break down the amount of negligence of each defendant and the plaintiff if there is contributory negligence. Often the court will refuse to do so, allowing the plaintiff to collect from whichever defendant has the "deep pocket" (lots of money), and letting the defendant who pays demand contributions from the other defendants. See also: comparative negligence contribution contributory negligence joint
several liability         
LEGAL TERM
Joint and Several Liability; Joint and several; Several liability; Joint liability; Jointly liable; Severally liable; Jointly and severally liable; Joint tortfeasors; Jointly and severally; Joint-responsibility rule; Joint tortfeasance
n. referring to responsibility of one party for the entire debt (as in "joint and several") or judgment when those who jointly agreed to pay the debt or are jointly ordered to pay a judgment do not do so. A person who is stuck with "several liability" because the others do not pay their part may sue the other joint debtors for contribution toward the payment he/she has made. See also: contribution joint and several promissory note
Ejemplos de uso de Joint and several liability
1. In the 2003 Budget the government introduced "joint and several" liability, meaning that traders in the supply chain could be held responsible, either individually or jointly, for paying any VAT liability that had been fraudulently withheld by another member of the supply chain.
2. The anti–fraud law, known as "joint and several" liability is one of the recent measures introduced to address the escalating problem of "missing trader" or carousel fraud, which involves a chain of cross–border purchases of small, high–value items such as computer chips or mobile phones.
3. Revenue & Customs also welcomed the ruling, which it said was "firm and final confirmation that member states may legally prevent abuse of the VAT system and protect revenues by applying joint and several liability". "Traders that do not take reasonable precautions are at risk of being liable for unpaid VAT.