Joint and Several Liability

Joint and Several Liability

Tags: aansprakelijkheid, creditor, debtor, hoofdelijke aansprakelijkheid, joint and several liability, Liability, regresrecht, right of recourse, schuldeiser, schuldenaar.

The term ‘Joint and several liability’ means that a debtor – even if there are several debtors – can be forced to fulfil the entire obligation. ‘Joint and several liability’ can arise straight from the law or from an agreement.

Examples

For example, suppose two debtors have taken out a loan of EUR 10,000. In principle, the creditor can then go to any of the debtors for full repayment of the loan. The paying debtor then has a right of recourse against the other debtor.

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