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joint liability |
Also found in: Wikipedia | 0.04 sec. |
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joint liability n. when two or more persons are both responsible for a debt, claim or judgment. It can be important to the person making the claim, as well as to a person who is sued, who can demand that anyone with joint liability for the alleged debt or claim for damages be joined in (brought into) the lawsuit with them. (See: joinder, joint and several) |
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? References in periodicals archive |
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The IRS withheld a refund P chimed on a subsequent individual return to partially offset the previous unpaid joint liability (the offset). But Ilse Metchek, executive director of the California Fashion Association, said the enforcement locus should be on factories that are not registered, not working for a known or branded manufacturer, or without a strategic partner that can handle the joint liability. Provisions in a divorce decree that maintain continued joint liability may not be effective in preventing the IRS from imposing liability on only one spouse. |
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joint liability