jointly and severally Meaning in Cambridge Business English Dictionary
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Meaning of "jointly and severally" - Business English Dictionary

jointly and severally

adverb
 
 
LAW
if partners make an agreement jointly and severally, they share all rights and responsibilities equally, and if any partner is unable to share in a responsibility, the others become responsible for that partner's share: All members of the partnership are jointly and severally liable for the debt. The participating companies were fined $50 thousand jointly and severally. →  Compare severally
(Definition of jointly and severally from the Cambridge Business English Dictionary © Cambridge University Press)
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