Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “joint liability”

joint liability

noun [U]
 
 
LAW a situation where more than one person or organization share responsibility for paying a debt or for paying for damage that has been caused, etc.: As the partners have agreed to joint liability, if the partnership becomes insolvent the bank can pursue both partners for the money. → Compare joint and several liability
(Definition of joint liability from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of joint liability?
Add Cambridge dictionaries to your browser to your website

More Business English definitions for “joint liability”

Word of the Day

first:

(a person or thing) coming before all others in order, time, amount, quality, or importance

Word of the Day

Countability – grammar codes

by Dom Glennon​​,
November 26, 2014
Advices and informations Have you ever noticed strange codes in square brackets on entries in Cambridge Dictionaries Online and wondered what they mean? These are grammar codes, giving you a brief summary of how that word behaves grammatically. More information can be obtained by hovering your cursor over the code, and there’s

Read More 

ped-text verb

November 24, 2014
to text someone while walking I’m ped-texting, I’m looking down at my phone, 75 percent of the time.

Read More