jointly and severally

jointly and severally
municipal bond underwriting in which the account is undivided and syndicate members are responsible for unsold bonds in proportion to their participation, regardless of how many bonds they may have already sold. A firm with 20% of the account is responsible for selling 20% of the unsold bonds even if has already sold 25% of the total debt issue, for example. Bloomberg Financial Dictionary
See: severally but not jointly. Bloomberg Financial Dictionary

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jointly and severally UK US adverb 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.

→ Compare SEVERALLY(Cf. ↑severally)

Financial and business terms. 2012.

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Look at other dictionaries:

  • Jointly and Severally — 1. A legal term describing a partnership in which individual decisions are bound to all parties involved and thus undivided. 2. A term used in underwriting syndicates to refer to the distinct responsibility of individual companies to sell a… …   Investment dictionary

  • jointly and severally — See joint and several contracts joint and several liability …   Black's law dictionary

  • jointly and severally — See joint and several contracts joint and several liability …   Black's law dictionary

  • jointly and severally — together and separately (joint obligation of several people that they are all together or totally separate) …   English contemporary dictionary

  • jointly and severally — See in solido; joint and several liability …   Ballentine's law dictionary

  • severally — sev‧e‧ral‧ly [ˈsevrəli] adverb jointly and severally LAW if two companies own or are responsible for something jointly and severally, they each have an equal share in it: • In many states, firms are jointly and severally liable for injuries… …   Financial and business terms

  • severally — / sev(ə)rəli/ adverb separately, not jointly ♦ they are jointly and severally liable they are liable both as a group and as individuals for the total amount …   Dictionary of banking and finance

  • jointly — / dʒɔɪntli/ adverb together with one or more other people ● to own a property jointly ● to manage a company jointly ● They are jointly liable for damages. ♦ jointly and severally liable liable both as a group and as individuals …   Dictionary of banking and finance

  • joint and several liability — see liability 2b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. joint and several liability …   Law dictionary

  • joint and several — joint and sev·er·al adj: relating or belonging to two or more parties together and separately joint and several duties of the partners see also joint and several liability at liability 2b compare in sol …   Law dictionary

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