In law, a type of obligation characterized by the existence of multiple subjects who can demand or must comply with the full performance, either because they have agreed to do so or because the law requires it. In a company with joint and several liability, a single person can make decisions on behalf of others, and a creditor can demand payment of a debt from any of them, regardless of who is responsible for the obligation incurred.
« Back to Glossary IndexSolidarity
« Back to Glossary Index