joint and several note

A promissory note which is the note of all and of each of the makers as to its legal obligation between the parties to it. A promissory note in the form, "I promise to pay," etc., and signed by two persons is as much a joint and several note as one which reads, "We jointly and severally promise to pay," similarly signed. Ladd v Baker, 26 NH 76; UCC § 118(e) and Comment 6; Uniform Negotiable Instruments L § 17(7).

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • 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

  • Joint and several liability — Where two or more persons are liable in respect of the same liability, in most common law legal systems they may either be:* jointly liable, or * severally liable, or * jointly and severally liable.Joint liabilityIf parties have joint liability,… …   Wikipedia

  • joint and several —    In finance, a concept that refers to a debt in which each debtor is liable for the entire amount of the debt. For example, if it is stated in a promissory note that more than one person owes the funds to be paid, the debt is joint and several …   Business law dictionary

  • joint and several — adjective : constituting or relating to rights which two or more persons entitled thereto may assert either together or separately or to duties and liabilities of two or more persons for which they may be held liable either together or separately …   Useful english dictionary

  • note — 1. verb To make a brief written statement; to erjtera memorandum, as to note an exception 2. noun An instrument containing an express and absolute promise of signer (i.e. maker) to pay to a specified person or order, or bearer, a definite sum of… …   Black's law dictionary

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

  • joint — United; combined; undivided; done by or against two or more unitedly; shared by or between two or more; coupled together in interest or liability. The term is used to express a common property interest enjoyed or a common liability incurred by… …   Black's law dictionary

  • Joint Base Charleston — Part of Air Mobility Command (AMC) Naval Nuclear Power Training Command Southern Division, Naval Facilities Engineering Command …   Wikipedia

  • Joint Tactical Radio System — The Joint Tactical Radio System (JTRS, often pronounced jitters ) is planned to be the next generation voice and data radio used by the U.S. military in field operations after 2010. Launched with a Mission Needs Statement in 1997 and a subsequent …   Wikipedia

  • Joint wills and mutual wills — Wills, trusts and estates …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.