joint liability Meaning in the Cambridge English Dictionary
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Meaning of “joint liability” in the English Dictionary

"joint liability" in Business English

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joint liabilitynoun [U]

uk   us  
LAW a ​situation where more than one ​person or ​organizationshareresponsibility for ​paying a ​debt or for ​paying for ​damage that has been caused, etc.: As the ​partners have ​agreed to ​jointliability, if the ​partnership becomes ​insolvent the ​bank can ​pursue both ​partners for the ​money.
(Definition of joint liability from the Cambridge Business English Dictionary © Cambridge University Press)
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