Simple definition
Liability structure under which each responsible party may be pursued for all or part of a covered amount.
Liability structure under which each responsible party may be pursued for all or part of a covered amount.
A contract may use “joint and several liability” when describing liability structure under which each responsible party may be pursued for all or part of a covered amount.
Liability structure under which each responsible party may be pursued for all or part of a covered amount.
In contracts, this language often appears where the parties allocate responsibility for losses, claims, or financial exposure. Read it together with any liability cap, indemnity, insurance, and damages language.
It can change who bears costs when something goes wrong and whether that exposure is limited or carved out. Review the exact language rather than relying on the label alone.
Liability structure under which each responsible party may be pursued for all or part of a covered amount.
In contracts, this language often appears where the parties allocate responsibility for losses, claims, or financial exposure. Read it together with any liability cap, indemnity, insurance, and damages language.
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