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What is Joint and Several Liability?

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Sam Site Admin Joined: 21 May 2005 Posts: 281 Location: CALIFORNIA 117.49 Dollars($)	Posted: Wed Apr 07, 2004 4:20 am    Post subject: What is Joint and Several Liability? Joint and Several Liability refers to a situation where a creditor can demand full repayment from any or all the borrowers. Each borrower is responsible for the full debt. For example, Suppose John, Carole and Kris jointly has taken a loan of $100,000 from Jack. Jack demands full repayment from Carole, and she has to repay the full debt. This system is known as 'joint and several liability'.

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