jointly and severally liable debtors

Quelle: https://en.wikipedia.org/wiki/Joint_and_several_liability

Several liable debtors are multiple parties who are legally responsible for the same debt or obligation; depending on the applicable law, they may be jointly and severally liable or liable in proportion. In practice, this means that each debtor may be required to satisfy the full claim or only a portion of it.

Related Terms

You might also be interested in these terms

VAT-liable (VAT-payer)

A person or entity that is legally required to charge, collect and remit value-added tax on goods and services.

Learn more

VAT-liable entity

A person or business that, under applicable VAT rules, is subject to VAT liability and therefore charges and remits VAT on supplies of goods or servic...

Learn more

Unreliable Supplier

A supplier that repeatedly fails to meet its contractual obligations regarding delivery schedules, quantities, quality, or service levels, thereby inc...

Learn more

person liable for import tax

A person or entity that is legally obligated to pay import duties and import VAT on goods entering a country; the party responsible for settlement of ...

Learn more

Ultra-Reliable Delivery Networks

Ultra-Reliable Delivery Networks (URDN) refer to logistics and transportation systems designed to ensure maximum availability and delivery assurance, ...

Learn more

Unreliable Route Profiles

Unreliable route profiles refer to transportation paths that regularly experience delays and deviations due to variable or unpredictable factors such ...

Learn more