Joint liability is a legal concept that holds two or more individuals or entities collectively responsible for fulfiling an obligation or compensating for a wrongdoing. Unlike joint and several liability, where each party can be held responsible for the entire obligation, joint liability requires all parties to contribute proportionally to satisfy the obligation. This means that each party’s liability is limited to their share of responsibility, and they cannot be held accountable for more than their fair portion. Joint liability commonly arises in contracts and business arrangements where multiple parties agree to share the benefits and responsibilities of a particular venture or agreement. It ensures that each party bears a fair share of the consequences if the obligation is not met or if there is a breach of contract.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/joint-liability/
- Modern Language Association (MLA):Joint Liability. dlssolicitors.com. DLS Solicitors. May 01 2024 https://dlssolicitors.com/define/joint-liability/.
- Chicago Manual of Style (CMS):Joint Liability. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/joint-liability/ (accessed: May 01 2024).
- American Psychological Association (APA):Joint Liability. dlssolicitors.com. Retrieved May 01 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/joint-liability/