joint and several contracts

joint and several contracts
joint and several contracts
A joint contract is one made by two or more promisors, who are jointly bound to fulfill its obligations, or made to two or more promisees, who are jointly entitled to require performance of the same. A contract may be "several" as to any one of several promisors or promisees, if person has a legal right (either from the terms of the agreement or the nature of the undertaking) to enforce his individual interest separately from the other parties. Generally all contracts are joint where the interest of the parties for whose benefit they are created is joint, and separate where that interest is separate.
+ joint and several contracts
Contracts in which the parties bind themselves both individually and as a unit (jointly)

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • joint and several contracts — A joint contract is one made by two or more promisors, who are jointly bound to fulfill its obligations, or made to two or more promisees, who are jointly entitled to require performance of the same. A contract may be several as to any one of… …   Black's law dictionary

  • joint and several contract — A contract with two or more contracting parties on one side, presenting distinct engagements and rights, each contractor being liable and entitled individually and the two or more of them being liable and entitled jointly. 17 Am J2d Contr § 298.… …   Ballentine's law dictionary

  • joint contract — joint and several contracts A joint contract is one made by two or more promisors, who are jointly bound to fulfill its obligations, or made to two or more promisees, who are jointly entitled to require performance of the same. A contract may be… …   Black's law dictionary

  • several contract — joint and several contracts A joint contract is one made by two or more promisors, who are jointly bound to fulfill its obligations, or made to two or more promisees, who are jointly entitled to require performance of the same. A contract may be… …   Black's law dictionary

  • joint contract — joint and several contracts A joint contract is one made by two or more promisors, who are jointly bound to fulfill its obligations, or made to two or more promisees, who are jointly entitled to require performance of the same. A contract may be… …   Black's law dictionary

  • several contract — joint and several contracts A joint contract is one made by two or more promisors, who are jointly bound to fulfill its obligations, or made to two or more promisees, who are jointly entitled to require performance of the same. A contract may be… …   Black's law dictionary

  • joint — United; combined; undivided; done by or against two or more unitedly; shared by or between two or more; coupled together in interest or liability. The term is used to express a common property interest enjoyed or a common liability incurred by… …   Black's law dictionary

  • joint — United; combined; undivided; done by or against two or more unitedly; shared by or between two or more; coupled together in interest or liability. The term is used to express a common property interest enjoyed or a common liability incurred by… …   Black's law dictionary

  • jointly and severally — See joint and several contracts joint and several liability …   Black's law dictionary

  • jointly and severally — See joint and several contracts joint and several liability …   Black's law dictionary

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