Joint Obligation
/ˈdʒɔɪnt ˌɑblɪˈɡeɪʃən/
Definitions
- (n.) A legal duty shared by two or more parties where each is responsible for the entire obligation until it is fully performed.
The siblings incurred a joint obligation to repay the family loan, each liable for the full amount.
- (n.) An obligation where parties must perform together or not at all, often arising in contracts or torts.
Under their joint obligation, the partners must act collectively to fulfill the contract terms.
Forms
- joint obligations
Related terms
See also
Commentary
Joint obligation implies unified responsibility among parties, differing from several obligations where liabilities are separate; precise drafting is vital to reflect parties' intended liabilities.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.