Meaning of “jointly and severally” in the English Dictionary

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"jointly and severally" in Business English

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jointly and severallyadverb

uk us 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.

(Definition of “jointly and severally” from the Cambridge Business English Dictionary © Cambridge University Press)